Compare Your Salary
Average Salaries
Best Paying Jobs
Salary Increase Letter
Career Articles
Cost of Living Calculator

Accounting Manager Average Salary in Bulgaria 2020

How much money does an Accounting Manager make in Bulgaria?

Average Monthly Salary
6,210 BGN
( 74,600 BGN yearly)


A person working as an Accounting Manager in Bulgaria typically earns around 6,210 BGN per month. Salaries range from 3,230 BGN (lowest) to 9,510 BGN (highest).

This is the average monthly salary including housing, transport, and other benefits. Accounting Manager salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.

Accounting Manager Salary Distribution in Bulgaria

Median and salary distribution monthly Bulgaria Accounting Manager
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/bulgaria/accounting-and-finance/accounting-manager/median-and-salary-distribution-monthly-bulgaria-accounting-manager.jpg

The median, the maximum, the minimum, and the range

  • Salary Range

    Accounting Manager salaries in Bulgaria range from 3,230 BGN per month (minimum salary) to 9,510 BGN per month (maximum salary).

  • Median Salary

    The median salary is 5,960 BGN per month, which means that half (50%) of people working as Accounting Manager(s) are earning less than 5,960 BGN while the other half are earning more than 5,960 BGN. 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

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Accounting Manager(s) are earning less than 4,140 BGN while 75% of them are earning more than 4,140 BGN. Also from the diagram, 75% of Accounting Manager(s) are earning less than 7,430 BGN while 25% are earning more than 7,430 BGN.

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

Accounting Manager Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Bulgaria Accounting Manager
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/bulgaria/accounting-and-finance/accounting-manager/salary-comparison-by-years-of-experience-monthly-bulgaria-accounting-manager.jpg

The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Accounting Manager salaries by experience level and this is what we found.

An Accounting Manager with less than two years of experience makes approximately 3,670 BGN per month.

While someone with an experience level between two and five years is expected to earn 4,930 BGN per month, 34% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 6,400 BGN per month, 30% more than someone with two to five years of experience.

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.

Additionally, Accounting Manager(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 7,750 BGN per month, 21% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 8,470 BGN per month, 9% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 8,910 BGN per month, 5% more than people with fifteen to twenty years of experience.

Accounting Manager average salary change by experience in Bulgaria

0 - 2 Years
3,670 BGN
2 - 5 Years+34%
4,930 BGN
5 - 10 Years+30%
6,400 BGN
10 - 15 Years+21%
7,750 BGN
15 - 20 Years+9%
8,470 BGN
20+ Years+5%
8,910 BGN
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-by-experience.jpg

Accounting Manager Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Accounting Manager(s) who have the same experience but different education levels.

Salary comparison by education level monthly Bulgaria Accounting Manager
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/bulgaria/accounting-and-finance/accounting-manager/salary-comparison-by-education-level-monthly-bulgaria-accounting-manager.jpg

We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Accounting Manager salaries by education level in order to make a comparison.

When the education level is Certificate or Diploma, the average salary of an Accounting Manager is 4,360 BGN per month.

While someone with a Bachelor's Degree gets a salary of 6,620 BGN per month, 52% more than someone having a Certificate or Diploma degree.

A Master's Degree gets its holder an average salary of 9,380 BGN per month, 42% more than someone with a Bachelor's Degree.

Accounting Manager average salary difference by education level in Bulgaria

Certificate or Diploma
4,360 BGN
Bachelor's Degree+52%
6,620 BGN
Master's Degree+42%
9,380 BGN
Percentage increase and decrease are relative to the previous value

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 Bulgaria costs anywhere from 24,100 Bulgarian Lev(s) to 72,200 Bulgarian Lev(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 the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-comparison-by-education.jpg

Accounting Manager Salary Comparison By Gender

Salary comparison by gender monthly Bulgaria Accounting Manager
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/bulgaria/accounting-and-finance/accounting-manager/salary-comparison-by-gender-monthly-bulgaria-accounting-manager.jpg

Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Accounting Manager employees in Bulgaria earn 8% more than their female counterparts.

6,020 BGN
6,480 BGN
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Bulgaria for all Careers

Salary comparison by gender monthly Bulgaria
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/bulgaria/salary-comparison-by-gender-monthly-bulgaria.jpg

Accounting Manager Average Annual Salary Increment Percentage in Bulgaria

How much are annual salary increments in Bulgaria for Accounting Manager(s)? How often do employees get salary raises?

Accounting Manager

Accounting Manager(s) in Bulgaria are likely to observe a salary increase of approximately 11% every 20 months. The national average annual increment for all professions combined is 7% granted to employees every 20 months.

Annual Salary Increment Rate Bulgaria Accounting Manager
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/bulgaria/accounting-and-finance/accounting-manager/annual-salary-increment-rate-bulgaria-accounting-manager.jpg

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.

Bulgaria / All Professions

Annual Salary Increment Rate Bulgaria
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/bulgaria/annual-salary-increment-rate-bulgaria.jpg

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 Bulgaria is 4%.

Annual Increment Rate By Industry 2019

Information Technology

Listed above are the average annual increase rates for each industry in Bulgaria for the year 2019. 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

Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-increment-world.jpg

Accounting Manager Bonus and Incentive Rates in Bulgaria

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Bulgaria Accounting Manager
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/bulgaria/accounting-and-finance/accounting-manager/annual-salary-bonus-rate-bulgaria-accounting-manager.jpg

An Accounting Manager is considered to be a high bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

24% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 76% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 8% 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.

Government vs Private Sector Salary Comparison

Public vs private sector salaries monthly Bulgaria
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/bulgaria/public-vs-private-sector-salaries-monthly-bulgaria.jpg

Where can you get paid more, working for a private company or for the government? Public sector Accounting Manager employees in Bulgaria earn 9% more than their private sector counterparts.

Private Sector
4,560 BGN
Public Sector+9%
4,980 BGN
Percentage increase and decrease are relative to the previous value

Accounting Manager Salary Trend and Forecast in Bulgaria

How are Accounting Manager salaries changing over time? Listed below is a chart that shows the average salary in recent years.

Salary trends and forecast monthly Bulgaria Accounting Manager
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/bulgaria/accounting-and-finance/accounting-manager/salary-trends-and-forecast-monthly-bulgaria-accounting-manager.jpg
Average Salary 2016
5,520 BGN
Average Salary 2017+4%
5,720 BGN
Average Salary 2018+2%
5,830 BGN
Average Salary 2019+3%
5,990 BGN
Percentage increase and decrease are relative to the previous value

Accounting Manager salaries in Bulgaria are on the rise in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 3% higher than those of 2018. The trend suggests a slow yet continuous increase in pay in 2021 and future years. These numbers may vary from industry to another.

Accounting Manager Average Hourly Wage in Bulgaria

36 BGN per hour

The average hourly wage (pay per hour) in Bulgaria is 36 BGN. This means that the average Accounting Manager in Bulgaria earns approximately 36 BGN for every worked hour.

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

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.

Accounting Manager VS Other Jobs

Salary Comparison Between Accounting Manager and Accounting and Finance monthly Bulgaria
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/bulgaria/accounting-and-finance/accounting-manager/salary-comparison-between-accounting-manager-and-accounting-and-finance-monthly-bulgaria.jpg

The average salary for Accounting Manager is 33% more than that of Accounting and Finance. Also, Accounting and Finance salaries are 3% less than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Account Examiner2,970 BGN-52%
Account Executive4,400 BGN-29%
Accountant3,200 BGN-48%
Accounting Assistant3,180 BGN-49%
Accounting Associate3,280 BGN-47%
Accounting Clerk2,400 BGN-61%
Accounting Coordinator2,660 BGN-57%
Accounting Manager6,210 BGN-0%
Accounting Supervisor4,400 BGN-29%
Accounting Technician2,850 BGN-54%
Accounts Executive3,980 BGN-36%
Accounts Payable and Receivable Specialist3,640 BGN-41%
Accounts Payable Clerk2,510 BGN-60%
Accounts Payable Manager5,240 BGN-16%
Accounts Receivable Clerk2,600 BGN-58%
Accounts Receivable Manager5,380 BGN-13%
Assistant Accounting Manager4,240 BGN-32%
Assistant Auditor3,420 BGN-45%
Audit Supervisor6,190 BGN-0%
Auditing Clerk3,130 BGN-50%
Auditing Manager6,700 BGN+8%
Billing Coordinator3,870 BGN-38%
Billing Specialist3,620 BGN-42%
Billing Supervisor4,620 BGN-26%
Bookkeeper2,640 BGN-58%
Bookkeeping Specialist3,260 BGN-48%
Budget Analyst3,820 BGN-39%
Budget Manager5,780 BGN-7%
Business Support Analyst4,180 BGN-33%
Capital Markets Associate4,980 BGN-20%
Cash Flow Analyst5,020 BGN-19%
Cash Management Officer4,550 BGN-27%
Cashbook Clerk3,120 BGN-50%
Chartered Accountant4,330 BGN-30%
Collections Clerk2,430 BGN-61%
Collections Specialist3,210 BGN-48%
Corporate Treasurer8,490 BGN+37%
Cost Accountant3,800 BGN-39%
Cost Accounting Manager5,320 BGN-14%
Cost Analyst4,690 BGN-25%
Credit and Collection Manager5,590 BGN-10%
Credit and Collection Staff2,660 BGN-57%
Credit and Loans Officer2,720 BGN-56%
Credit Controller4,710 BGN-24%
Debt Adviser6,180 BGN-1%
Debt Collector4,070 BGN-34%
Debtors Clerk3,480 BGN-44%
Deputy CFO8,110 BGN+31%
Derivative Trader6,510 BGN+5%
Escrow Assistant3,740 BGN-40%
External Auditor5,090 BGN-18%
Finance Associate3,790 BGN-39%
Finance Executive8,180 BGN+32%
Finance Licensing Clerk3,120 BGN-50%
Finance Licensing Manager4,670 BGN-25%
Finance Licensing Specialist3,800 BGN-39%
Finance Officer5,250 BGN-15%
Finance President9,240 BGN+49%
Finance Relationship Manager6,770 BGN+9%
Finance Release Analyst4,650 BGN-25%
Finance Team Leader 5,150 BGN-17%
Financial Actuary4,570 BGN-26%
Financial Administrator4,060 BGN-35%
Financial Analyst4,890 BGN-21%
Financial Applications Specialist3,400 BGN-45%
Financial Assistant2,890 BGN-53%
Financial Associate3,560 BGN-43%
Financial Claims Analyst4,400 BGN-29%
Financial Claims Manager5,160 BGN-17%
Financial Commercial Analyst4,090 BGN-34%
Financial Compliance Analyst4,780 BGN-23%
Financial Consultant4,700 BGN-24%
Financial Controller4,570 BGN-26%
Financial Coordinator4,230 BGN-32%
Financial Customer Service Manager5,560 BGN-11%
Financial Dealer and Broker4,470 BGN-28%
Financial Encoder2,750 BGN-56%
Financial Manager9,450 BGN+52%
Financial Operations Manager6,820 BGN+10%
Financial Policy Analyst4,600 BGN-26%
Financial Project Manager4,760 BGN-23%
Financial Quantitative Analyst5,410 BGN-13%
Financial Reporting Consultant4,810 BGN-23%
Financial Reporting Manager5,590 BGN-10%
Financial Services Sales Agent4,330 BGN-30%
Fixed Assets Administrator3,830 BGN-38%
Forensic Accountant3,820 BGN-39%
Fraud Detection Supervisor4,480 BGN-28%
Fraud Prevention Manager7,060 BGN+14%
Fund Accountant3,390 BGN-45%
Grants Coordinator3,090 BGN-50%
Internal Auditor4,830 BGN-22%
Internal Control Adviser5,020 BGN-19%
Internal Control Officer4,370 BGN-30%
Inventory Accountant7,290 BGN+17%
Investment Analyst6,370 BGN+3%
Investment Fund Manager6,410 BGN+3%
Investment Underwriter2,970 BGN-52%
Investor4,370 BGN-30%
Investor Relations Manager6,020 BGN-3%
KYC Team Leader5,820 BGN-6%
Management Economist5,360 BGN-14%
Paymaster3,550 BGN-43%
Payroll Clerk2,740 BGN-56%
Payroll Manager4,820 BGN-22%
Pensions Administrator3,730 BGN-40%
Pricing Analyst5,240 BGN-16%
Private Equity Analyst5,400 BGN-13%
Proposal Development Coordinator3,670 BGN-41%
Receivables Accountant3,310 BGN-47%
Regulatory Accountant3,650 BGN-41%
Retirement Plan Analyst4,900 BGN-21%
Revenue Management Specialist4,250 BGN-32%
Revenue Recognition Analyst6,070 BGN-2%
Risk Management Director7,270 BGN+17%
Risk Management Supervisor5,770 BGN-7%
Tax Accountant3,470 BGN-44%
Tax Advisor4,890 BGN-21%
Tax Associate3,830 BGN-38%
Tax Manager7,140 BGN+15%
Teller2,160 BGN-65%
Treasury Accountant3,660 BGN-41%
Treasury Analyst5,130 BGN-17%
Underwriter2,940 BGN-53%
Underwriting Assistant2,520 BGN-59%
Vice President of Finance6,900 BGN+11%

Salary Comparison By City

CityAverage Salary
Burgas6,480 BGN
Plovdiv6,990 BGN
Rousse6,350 BGN
Sofia7,250 BGN
Stara Zagora6,090 BGN
Varna6,740 BGN
0 - 0

Cost of Living Calculator

Salary Calculator

Salary Increase Letters

Cost of Living Comparison

Career Articles

Best Paying Jobs
HomePrivacy PolicySalary Comparison

©Salary Explorer 2018