Browse Salaries
Best Paying Jobs
Salary Increase Letters
Career Articles

Accounting Manager Average Salary in Bulgaria 2023

How much money does an Accounting Manager make in Bulgaria?

Average Monthly Salary
4,920 BGN
( 59,000 BGN yearly)


A person working as an Accounting Manager in Bulgaria typically earns around 4,920 BGN per month. Salaries range from 2,560 BGN (lowest) to 7,520 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 2,560 BGN per month (minimum salary) to 7,520 BGN per month (maximum salary).

  • Median Salary

    The median salary is 4,720 BGN per month, which means that half (50%) of people working as Accounting Manager(s) are earning less than 4,720 BGN while the other half are earning more than 4,720 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 3,270 BGN while 75% of them are earning more than 3,270 BGN. Also from the diagram, 75% of Accounting Manager(s) are earning less than 5,870 BGN while 25% are earning more than 5,870 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 2,900 BGN per month.

While someone with an experience level between two and five years is expected to earn 3,900 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 5,060 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 6,130 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 6,700 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 7,050 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
2,900 BGN
2 - 5 Years+34%
3,900 BGN
5 - 10 Years+30%
5,060 BGN
10 - 15 Years+21%
6,130 BGN
15 - 20 Years+9%
6,700 BGN
20+ Years+5%
7,050 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 3,450 BGN per month.

While someone with a Bachelor's Degree gets a salary of 5,240 BGN per month, 52% more than someone having a Certificate or Diploma degree.

A Master's Degree gets its holder an average salary of 7,420 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
3,450 BGN
Bachelor's Degree+52%
5,240 BGN
Master's Degree+42%
7,420 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 16,500 Bulgarian Lev(s) to 49,500 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 6% more than their female counterparts on average.

5,080 BGN
4,780 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

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 2022

Information Technology

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

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.

Accounting Manager Average Hourly Wage in Bulgaria

28 BGN per hour

The average hourly wage (pay per hour) in Bulgaria is 28 BGN. This means that the average Accounting Manager in Bulgaria earns approximately 28 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 44% more than that of Accounting and Finance. Also, Accounting and Finance salaries are 3% more than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Account Examiner1,760 BGN-64%
Account Executive2,880 BGN-41%
Accountant2,260 BGN-54%
Accounting Assistant1,830 BGN-63%
Accounting Associate1,710 BGN-65%
Accounting Clerk1,430 BGN-71%
Accounting Coordinator2,110 BGN-57%
Accounting Manager4,920 BGN+0%
Accounting Supervisor3,170 BGN-36%
Accounting Technician1,600 BGN-67%
Accounts Executive2,920 BGN-41%
Accounts Payable and Receivable Specialist2,300 BGN-53%
Accounts Payable Clerk1,780 BGN-64%
Accounts Payable Manager4,880 BGN-1%
Accounts Receivable Clerk1,720 BGN-65%
Accounts Receivable Manager4,640 BGN-6%
Assistant Accounting Manager4,560 BGN-7%
Assistant Auditor2,270 BGN-54%
Audit Supervisor4,210 BGN-14%
Auditing Clerk1,810 BGN-63%
Auditing Manager4,960 BGN+1%
Billing Coordinator2,130 BGN-57%
Billing Specialist2,430 BGN-51%
Billing Supervisor3,640 BGN-26%
Bookkeeper1,620 BGN-67%
Bookkeeping Specialist2,180 BGN-56%
Budget Analyst3,960 BGN-19%
Budget Manager4,900 BGN-0%
Business Support Analyst2,550 BGN-48%
Capital Markets Associate3,540 BGN-28%
Cash Flow Analyst3,700 BGN-25%
Cash Management Officer2,720 BGN-45%
Cashbook Clerk1,660 BGN-66%
Chartered Accountant3,130 BGN-36%
Collections Clerk1,430 BGN-71%
Collections Specialist2,420 BGN-51%
Corporate Treasurer4,530 BGN-8%
Cost Accountant2,300 BGN-53%
Cost Accounting Manager4,860 BGN-1%
Cost Analyst3,650 BGN-26%
Credit and Collection Manager4,750 BGN-3%
Credit and Collection Staff1,770 BGN-64%
Credit and Loans Officer1,710 BGN-65%
Credit Controller3,340 BGN-32%
Debt Adviser4,090 BGN-17%
Debt Collector1,860 BGN-62%
Debtors Clerk1,620 BGN-67%
Deputy CFO6,300 BGN+28%
Derivative Trader3,940 BGN-20%
Escrow Assistant2,040 BGN-58%
External Auditor3,450 BGN-30%
Finance Associate2,110 BGN-57%
Finance Executive5,230 BGN+6%
Finance Licensing Clerk1,760 BGN-64%
Finance Licensing Manager4,360 BGN-11%
Finance Licensing Specialist2,560 BGN-48%
Finance Officer2,180 BGN-56%
Finance President6,670 BGN+36%
Finance Relationship Manager5,580 BGN+14%
Finance Release Analyst2,820 BGN-43%
Finance Team Leader 5,280 BGN+7%
Financial Actuary3,460 BGN-30%
Financial Administrator3,870 BGN-21%
Financial Analyst4,160 BGN-15%
Financial Applications Specialist3,090 BGN-37%
Financial Assistant1,860 BGN-62%
Financial Associate1,900 BGN-61%
Financial Claims Analyst3,100 BGN-37%
Financial Claims Manager4,230 BGN-14%
Financial Commercial Analyst3,350 BGN-32%
Financial Compliance Analyst3,720 BGN-24%
Financial Consultant3,280 BGN-33%
Financial Controller3,800 BGN-23%
Financial Coordinator2,230 BGN-55%
Financial Customer Service Manager4,180 BGN-15%
Financial Dealer and Broker2,670 BGN-46%
Financial Encoder2,030 BGN-59%
Financial Manager6,270 BGN+28%
Financial Operations Manager5,960 BGN+21%
Financial Policy Analyst3,530 BGN-28%
Financial Project Manager5,040 BGN+3%
Financial Quantitative Analyst4,190 BGN-15%
Financial Reporting Consultant3,480 BGN-29%
Financial Reporting Manager4,350 BGN-11%
Financial Services Sales Agent2,600 BGN-47%
Fixed Assets Administrator2,440 BGN-50%
Forensic Accountant2,810 BGN-43%
Fraud Detection Supervisor2,910 BGN-41%
Fraud Prevention Manager4,980 BGN+1%
Fund Accountant2,180 BGN-56%
Grants Coordinator1,760 BGN-64%
Internal Auditor3,080 BGN-37%
Internal Control Adviser3,720 BGN-24%
Internal Control Officer2,130 BGN-57%
Inventory Accountant2,370 BGN-52%
Investment Analyst4,820 BGN-2%
Investment Fund Manager5,220 BGN+6%
Investment Underwriter2,060 BGN-58%
Investor2,950 BGN-40%
Investor Relations Manager4,750 BGN-3%
KYC Team Leader4,630 BGN-6%
Management Economist5,500 BGN+12%
Paymaster1,870 BGN-62%
Payroll Clerk1,980 BGN-60%
Payroll Manager4,300 BGN-13%
Pensions Administrator2,500 BGN-49%
Pricing Analyst3,900 BGN-21%
Private Equity Analyst4,250 BGN-14%
Proposal Development Coordinator2,100 BGN-57%
Receivables Accountant2,250 BGN-54%
Regulatory Accountant2,520 BGN-49%
Retirement Plan Analyst3,770 BGN-23%
Revenue Management Specialist4,050 BGN-18%
Revenue Recognition Analyst4,300 BGN-13%
Risk Management Director5,460 BGN+11%
Risk Management Supervisor4,650 BGN-5%
Tax Accountant2,250 BGN-54%
Tax Advisor3,750 BGN-24%
Tax Associate2,090 BGN-57%
Tax Manager4,950 BGN+1%
Teller1,400 BGN-72%
Treasury Accountant2,460 BGN-50%
Treasury Analyst3,960 BGN-19%
Underwriter1,720 BGN-65%
Underwriting Assistant1,510 BGN-69%
Vice President of Finance6,480 BGN+32%

Salary Comparison By City

CityAverage Salary
Burgas5,130 BGN
Plovdiv5,530 BGN
Rousse5,030 BGN
Sofia5,740 BGN
Stara Zagora4,820 BGN
Varna5,330 BGN

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 Bulgaria earn 9% more than their private sector counterparts on average across all sectors.

Private Sector
3,130 BGN
Public Sector+9%
3,420 BGN
Percentage increase and decrease are relative to the previous value

Browse Salaries

Salary Increase Letters

Best Paying Jobs
HomePrivacy PolicySalary Comparison

©Salary Explorer 2023