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Accounting and Finance Average Salaries in Zimbabwe 2023

How much money does a person working in Accounting and Finance make in Zimbabwe?

Average Monthly Salary
223,000 ZWD
( 2,680,000 ZWD yearly)


A person working in Accounting and Finance in Zimbabwe typically earns around 223,000 ZWD per month. Salaries range from 90,300 ZWD (lowest average) to 448,000 ZWD (highest average, actual maximum salary is higher).

This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Accounting and Finance careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
Account Examiner117,000 ZWD
Account Executive201,000 ZWD
Accountant144,000 ZWD
Accounting Assistant118,000 ZWD
Accounting Associate107,000 ZWD
Accounting Clerk92,600 ZWD
Accounting Coordinator140,000 ZWD
Accounting Manager323,000 ZWD
Accounting Supervisor201,000 ZWD
Accounting Technician110,000 ZWD
Accounts Executive192,000 ZWD
Accounts Payable and Receivable Specialist150,000 ZWD
Accounts Payable Clerk118,000 ZWD
Accounts Payable Manager296,000 ZWD
Accounts Receivable Clerk116,000 ZWD
Accounts Receivable Manager287,000 ZWD
Assistant Accounting Manager273,000 ZWD
Assistant Auditor159,000 ZWD
Audit Supervisor274,000 ZWD
Auditing Clerk118,000 ZWD
Auditing Manager303,000 ZWD
Billing Coordinator138,000 ZWD
Billing Specialist169,000 ZWD
Billing Supervisor229,000 ZWD
Bookkeeper103,000 ZWD
Bookkeeping Specialist150,000 ZWD
Budget Analyst254,000 ZWD
Budget Manager318,000 ZWD
Business Support Analyst180,000 ZWD
Capital Markets Associate234,000 ZWD
Cash Flow Analyst220,000 ZWD
Cash Management Officer182,000 ZWD
Cashbook Clerk104,000 ZWD
Chartered Accountant191,000 ZWD
Collections Clerk94,800 ZWD
Collections Specialist155,000 ZWD
Corporate Treasurer291,000 ZWD
Cost Accountant150,000 ZWD
Cost Accounting Manager316,000 ZWD
Cost Analyst239,000 ZWD
Credit and Collection Manager308,000 ZWD
Credit and Collection Staff120,000 ZWD
Credit and Loans Officer113,000 ZWD
Credit Controller202,000 ZWD
Debt Adviser255,000 ZWD
Debt Collector117,000 ZWD
Debtors Clerk104,000 ZWD
Deputy CFO417,000 ZWD
Derivative Trader251,000 ZWD
Escrow Assistant138,000 ZWD
External Auditor213,000 ZWD
Finance Associate133,000 ZWD
Finance Executive323,000 ZWD
Finance Licensing Clerk106,000 ZWD
Finance Licensing Manager292,000 ZWD
Finance Licensing Specialist173,000 ZWD
Finance Officer146,000 ZWD
Finance President447,000 ZWD
Finance Relationship Manager366,000 ZWD
Finance Release Analyst180,000 ZWD
Finance Team Leader 350,000 ZWD
Financial Actuary234,000 ZWD
Financial Administrator254,000 ZWD
Financial Analyst279,000 ZWD
Financial Applications Specialist199,000 ZWD
Financial Assistant121,000 ZWD
Financial Associate120,000 ZWD
Financial Claims Analyst211,000 ZWD
Financial Claims Manager264,000 ZWD
Financial Commercial Analyst213,000 ZWD
Financial Compliance Analyst242,000 ZWD
Financial Consultant201,000 ZWD
Financial Controller249,000 ZWD
Financial Coordinator146,000 ZWD
Financial Customer Service Manager283,000 ZWD
Financial Dealer and Broker160,000 ZWD
Financial Encoder129,000 ZWD
Financial Manager408,000 ZWD
Financial Operations Manager380,000 ZWD
Financial Policy Analyst227,000 ZWD
Financial Project Manager328,000 ZWD
Financial Quantitative Analyst267,000 ZWD
Financial Reporting Consultant222,000 ZWD
Financial Reporting Manager280,000 ZWD
Financial Services Sales Agent169,000 ZWD
Fixed Assets Administrator155,000 ZWD
Forensic Accountant185,000 ZWD
Fraud Detection Supervisor180,000 ZWD
Fraud Prevention Manager311,000 ZWD
Fund Accountant152,000 ZWD
Grants Coordinator110,000 ZWD
Internal Auditor212,000 ZWD
Internal Control Adviser230,000 ZWD
Internal Control Officer133,000 ZWD
Inventory Accountant159,000 ZWD
Investment Analyst310,000 ZWD
Investment Fund Manager356,000 ZWD
Investment Underwriter128,000 ZWD
Investor190,000 ZWD
Investor Relations Manager309,000 ZWD
KYC Team Leader298,000 ZWD
Management Economist357,000 ZWD
Paymaster119,000 ZWD
Payroll Clerk137,000 ZWD
Payroll Manager271,000 ZWD
Pensions Administrator162,000 ZWD
Pricing Analyst246,000 ZWD
Private Equity Analyst285,000 ZWD
Proposal Development Coordinator136,000 ZWD
Receivables Accountant135,000 ZWD
Regulatory Accountant169,000 ZWD
Retirement Plan Analyst233,000 ZWD
Revenue Management Specialist253,000 ZWD
Revenue Recognition Analyst288,000 ZWD
Risk Management Director362,000 ZWD
Risk Management Supervisor311,000 ZWD
Tax Accountant142,000 ZWD
Tax Advisor230,000 ZWD
Tax Associate133,000 ZWD
Tax Manager303,000 ZWD
Teller87,100 ZWD
Treasury Accountant160,000 ZWD
Treasury Analyst245,000 ZWD
Underwriter111,000 ZWD
Underwriting Assistant99,000 ZWD
Vice President of Finance400,000 ZWD

Accounting and Finance Jobs Pay Scale and Salaries in Zimbabwe

Median and salary distribution Zimbabwe Accounting and Finance monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
243,000 ZWD or more
10% of people earn
206,000 to 243,000 ZWD
20% of people earn
124,000 ZWD or less
65% of people earn
124,000 to 206,000 ZWD
Minimum Salary
90,300 ZWD
211,000 ZWD
448,000 ZWD

Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

  • Salary Range, Minimum Wage, and Starting Salary

    Accounting and Finance salaries in Zimbabwe range from 90,300 ZWD per month (starting average salary) to 448,000 ZWD per month (maximum average salary, actual maximum is higher). This is not the minimum wage as per the law, only the lowest reported number in the salary survey that had thousands of participants and professionals from all over the country.

  • Median Salary

    The median salary is 211,000 ZWD per month, which means that half (50%) of people working in Accounting and Finance are earning less than 211,000 ZWD while the other half are earning more than 211,000 ZWD. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

  • Percentiles and Salary Scale

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Accounting and Finance are earning less than 166,000 ZWD while 75% of them are earning more than 166,000 ZWD. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 256,000 ZWD while 25% are earning more than 256,000 ZWD.

  • Pay Scale Structure

    We grouped the most common and recurring salaries into brackets to give more insight into what salary to expect. This method is more accurate than just the average salary and gives more insights on how salaries are actually distributed. Around 65% of all reported figures are in the range 124,000 ZWD to 206,000 ZWD. Approximatly 20% fall under the 124,000 ZWD cap. Ten percent of wages are from 206,000 ZWD to 243,000 ZWD. Only 5% of people grossed 243,000 ZWD or more.

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.

Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.

Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.

Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.

Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Zimbabwe costs anywhere from 1,080,000 Zimbabwe Dollar(s) to 3,250,000 Zimbabwe Dollar(s) and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Salary and Compensation Comparison By Gender - Accounting and Finance

Salary comparison by gender Zimbabwe Accounting and Finance monthly
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Zimbabwe who work in Accounting and Finance earn 13% more than their female counterparts on average.

237,000 ZWD
210,000 ZWD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Zimbabwe for all Careers

Salary comparison by gender monthly Zimbabwe
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Accounting and Finance Average Annual Salary Increment Percentage in Zimbabwe

How much are annual salary increments in Zimbabwe for Accounting and Finance professionals? How often do employees get salary raises?

Accounting and Finance

Accounting and Finance professionals in Zimbabwe are likely to observe a salary increase of approximately 6% every 27 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Zimbabwe Accounting and Finance
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Zimbabwe / All Professions

Annual Salary Increment Rate Zimbabwe
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The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency

The average salary increase in one year (12 months) in Zimbabwe is 2%.

Annual Increment Rate By Industry 2022

Information Technology

Listed above are the average annual increase rates for each industry in Zimbabwe for the year 2022. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.

Accounting and Finance Bonus and Incentive Rates in Zimbabwe

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Zimbabwe Accounting and Finance
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Accounting and Finance is considered to be a high bonus-based field. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

36% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 64% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.

Received Bonus
No Bonus

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.

What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

A graphics designer working for a graphics designing company.

A graphic designer in the marketing department of a hospital.

Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Accounting and Finance Salary Forecast and Trend in Zimbabwe

How do Accounting and Finance salaries change over time? Listed below is a chart that shows the average salary in recent years.

Average Salary 2019
193,000 ZWD
Average Salary 2020+4%
200,000 ZWD
Average Salary 2021+4%
208,000 ZWD
Average Salary 2022+4%
215,000 ZWD
Percentage increase and decrease are relative to the previous value

Accounting and Finance salaries in Zimbabwe are rising in the year 2023 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2022 are 4% higher than those of 2021. The trend suggests a slow yet continuous increase in pay in 2024 and future years. These numbers may vary from industry to another.

Salary trends and forecast monthly Zimbabwe Accounting and Finance
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Accounting and Finance Hourly Average Wage in Zimbabwe

1,290 ZWD per hour

The average hourly wage (pay per hour) in Zimbabwe is 1,290 ZWD. This means that the average person in Zimbabwe earns approximately 1,290 ZWD for every worked hour.

Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

About The Hourly Pay Rate

The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

What is the minimum hourly rate of pay?

This minimum pay rate per hour for a person in Zimbabwe is 520 ZWD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Accounting and Finance VS Other Jobs

223,000 ZWD
217,000 ZWD
Average Salary
Accounting and Finance
Average Salary
All Jobs

The average salary for Accounting and Finance is 3% more than that of All Jobs.

Salary Comparison Between Accounting and Finance and Accounting and Finance monthly Zimbabwe
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Salary Comparison By City

CityAverage Salary
Bulawayo225,000 ZWD
Harare236,000 ZWD

Government vs Private Sector Salary Comparison

Where can you get paid more, working for a private company or for the government? Public sector employees in Zimbabwe earn 25% more than their private sector counterparts on average across all sectors.

Private Sector
193,000 ZWD
Public Sector+25%
241,000 ZWD
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary for Accounting and Finance in Zimbabwe?

A good and competitive compensation would range anywhere between 211,000 ZWD and 256,000 ZWD. This is a very rough estimate and your experience and education will play a very huge part into your final earnings.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salart after tax for every career.

Base / Basic Salary

The base salary for Accounting and Finance in Zimbabwe is ranges from 166,000 ZWD to 256,000 ZWD. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range in a grain of salt.

What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary

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