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Accounting and Finance Average Salaries in Bulgaria 2024

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


Average Monthly Salary
3,430 BGN
( 41,100 BGN yearly)

LOW
1,380
BGN
AVERAGE
3,430
BGN
HIGH
6,830
BGN
All salary figures displayed here are per month except when noted otherwise.
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 salary after tax for every career.

A person working in Accounting and Finance in Bulgaria typically earns around 3,430 BGN. Salaries range from 1,380 BGN (lowest average) to 6,830 BGN (highest average, actual maximum salary is higher).


Salary Variance

The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Accounting and Finance domain in Bulgaria exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.

Salaries for specific jobs

Job TitleAverage Salary
Accounting and Finance
Account Examiner1,760 BGN
Account Executive2,880 BGN
Accountant2,260 BGN
Accounting Analyst2,850 BGN
Accounting Assistant1,830 BGN
Accounting Associate1,710 BGN
Accounting Clerk1,430 BGN
Accounting Coordinator2,110 BGN
Accounting Head4,570 BGN
Accounting Manager4,920 BGN
Accounting Officer1,780 BGN
Accounting Specialist3,350 BGN
Accounting Supervisor3,170 BGN
Accounting Technician1,600 BGN
Accounting Unit Controller4,010 BGN
Accounts Executive2,920 BGN
Accounts Officer1,810 BGN
Accounts Payable and Receivable Specialist2,300 BGN
Accounts Payable Assistant1,940 BGN
Accounts Payable Associate2,240 BGN
Accounts Payable Clerk1,780 BGN
Accounts Payable Manager4,880 BGN
Accounts Receivable Administrator3,300 BGN
Accounts Receivable Clerk1,720 BGN
Accounts Receivable Financial Analyst3,460 BGN
Accounts Receivable Manager4,640 BGN
Accounts Receivable Team Leader3,560 BGN
Algorithmic Trading Specialist3,980 BGN
Assistant Accountant1,800 BGN
Assistant Accounting Manager4,560 BGN
Assistant Auditor2,270 BGN
Assistant Corporate Controller3,130 BGN
Assistant Finance Manager4,940 BGN
Assistant Financial Controller3,340 BGN
Audit Director5,380 BGN
Audit Supervisor4,210 BGN
Auditing Clerk1,810 BGN
Auditing Manager4,960 BGN
Billing Clerk1,720 BGN
Billing Coordinator2,130 BGN
Billing Specialist2,430 BGN
Billing Supervisor3,640 BGN
Bookkeeper1,620 BGN
Bookkeeping Specialist2,180 BGN
Budget Analyst3,960 BGN
Budget Manager4,900 BGN
Business Support Analyst2,560 BGN
Capital Markets Associate3,540 BGN
Cash Flow Analyst3,700 BGN
Cash Management Manager4,540 BGN
Cash Management Officer2,720 BGN
Cashbook Clerk1,660 BGN
Chartered Accountant3,130 BGN
Chief Accountant3,540 BGN
Chief Financial Technology Officer5,000 BGN
Collections Clerk1,430 BGN
Collections Representative2,070 BGN
Collections Specialist2,420 BGN
Corporate Controller3,770 BGN
Corporate Treasurer4,530 BGN
Cost Accountant2,300 BGN
Cost Accounting Manager4,860 BGN
Cost Accounting Supervisor3,670 BGN
Cost Analyst3,650 BGN
Credit and Collection Manager4,750 BGN
Credit and Collection Staff1,770 BGN
Credit and Loans Officer1,710 BGN
Credit Controller3,340 BGN
Credit Manager5,090 BGN
Debt Adviser4,090 BGN
Debt Collector1,860 BGN
Debtors Clerk1,620 BGN
Debtors Controller1,780 BGN
Deputy CFO6,300 BGN
Deputy Head of Finance6,720 BGN
Derivative Trader3,950 BGN
Director of Finance6,940 BGN
E-commerce Accountant2,430 BGN
Economist5,570 BGN
Equity Analyst4,080 BGN
Escrow Assistant2,040 BGN
Executive Accountant2,560 BGN
External Auditor3,450 BGN
Finance Administrator2,750 BGN
Finance Analyst4,230 BGN
Finance Associate2,110 BGN
Finance Data Analyst3,920 BGN
Finance Director6,700 BGN
Finance Executive5,230 BGN
Finance Licensing Clerk1,760 BGN
Finance Licensing Manager4,360 BGN
Finance Licensing Specialist2,560 BGN
Finance Manager6,580 BGN
Finance Officer2,180 BGN
Finance President6,670 BGN
Finance Relationship Manager5,580 BGN
Finance Release Analyst2,820 BGN
Finance Specialist4,020 BGN
Finance Team Leader 5,280 BGN
Financial Accountant2,380 BGN
Financial Actuary3,460 BGN
Financial Administrator3,870 BGN
Financial Advisor4,120 BGN
Financial Analyst4,160 BGN
Financial Applications Specialist3,090 BGN
Financial Assistant1,860 BGN
Financial Associate1,900 BGN
Financial Associate2,240 BGN
Financial Claims Analyst3,100 BGN
Financial Claims Manager4,230 BGN
Financial Claims Supervisor4,060 BGN
Financial Clerk1,800 BGN
Financial Commercial Analyst3,350 BGN
Financial Compliance Analyst3,720 BGN
Financial Compliance Officer3,600 BGN
Financial Consultant3,280 BGN
Financial Controller3,800 BGN
Financial Controller3,810 BGN
Financial Coordinator2,230 BGN
Financial Customer Service Manager4,180 BGN
Financial Data Scientist4,370 BGN
Financial Dealer and Broker2,670 BGN
Financial Director6,670 BGN
Financial Encoder2,030 BGN
Financial Manager6,270 BGN
Financial Manager6,480 BGN
Financial Modelling Analyst4,360 BGN
Financial Operations Manager5,960 BGN
Financial Policy Analyst3,530 BGN
Financial Project Manager5,040 BGN
Financial Quantitative Analyst4,190 BGN
Financial Reporting Consultant3,480 BGN
Financial Reporting Manager4,350 BGN
Financial Section Head4,330 BGN
Financial Services Manager6,080 BGN
Financial Services Sales Agent2,600 BGN
Financial Technology Consultant3,570 BGN
Financial Wellness Coach4,810 BGN
FinTech Analyst4,170 BGN
Fixed Assets Administrator2,440 BGN
Forensic Accountant2,810 BGN
Fraud Detection Supervisor2,920 BGN
Fraud Prevention Manager4,980 BGN
Fund Accountant2,190 BGN
Grants Coordinator1,760 BGN
Green Finance Analyst3,620 BGN
Group Financial Manager7,010 BGN
Internal Auditor3,080 BGN
Internal Control Adviser3,720 BGN
Internal Control Officer2,130 BGN
International Tax Director5,530 BGN
Inventory Accountant2,370 BGN
Investment Advisor6,330 BGN
Investment Analyst4,820 BGN
Investment Associate3,800 BGN
Investment Broker3,830 BGN
Investment Fund Manager5,220 BGN
Investment Operations Manager5,270 BGN
Investment Underwriter2,060 BGN
Investor2,950 BGN
Investor Relations Manager4,750 BGN
KYC Team Leader4,630 BGN
Loan Processor1,930 BGN
Management Accountant2,710 BGN
Management Economist5,500 BGN
Paymaster1,870 BGN
Payroll Administrator3,210 BGN
Payroll Benefits Coordinator2,560 BGN
Payroll Billing Manager4,370 BGN
Payroll Clerk1,980 BGN
Payroll Manager4,300 BGN
Payroll Officer2,150 BGN
Payroll Specialist2,410 BGN
Payroll Supervisor3,100 BGN
Pensions Administrator2,500 BGN
Personal Financial Advisor3,350 BGN
Pricing Analyst3,900 BGN
Private Equity Analyst4,250 BGN
Project Accountant2,540 BGN
Proposal Development Coordinator2,100 BGN
Quantitative Trader3,310 BGN
Receivables Accountant2,250 BGN
Regulatory Accountant2,520 BGN
Retirement Plan Analyst3,770 BGN
Revenue Management Specialist4,050 BGN
Revenue Recognition Analyst4,300 BGN
Risk Management Director5,460 BGN
Risk Management Supervisor4,650 BGN
Staff Accountant2,170 BGN
Tax Accountant2,250 BGN
Tax Administrator2,570 BGN
Tax Advisor3,750 BGN
Tax Analyst3,510 BGN
Tax Associate2,090 BGN
Tax Consultant3,780 BGN
Tax Director5,670 BGN
Tax Examiner2,550 BGN
Tax Manager4,950 BGN
Tax Research Manager4,630 BGN
Teller1,400 BGN
Treasury Accountant2,460 BGN
Treasury Analyst3,960 BGN
Underwriter1,720 BGN
Underwriting Assistant1,510 BGN
Vice President of Finance6,480 BGN


Accounting and Finance Jobs Pay Scale and Salaries in Bulgaria

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

5% of people earn
3,590 BGN or more
10% of people earn
3,040 to 3,590 BGN
20% of people earn
1,830 BGN or less
65% of people earn
1,830 to 3,040 BGN
Minimum Salary
1,380 BGN
Median
3,150 BGN
Maximum
6,830 BGN




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

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries in Accounting and Finance in Bulgaria range from 1,380 BGN (starting average salary) to 6,830 BGN (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.

  • Median Salary

    The median income in the field of Accounting and Finance is 3,150 BGN, implying that half of the workforce in Bulgaria earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.

  • Percentiles and Salary Scale

    Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Accounting and Finance in Bulgaria earn less than 2,470 BGN, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 3,810 BGN, while 25% earn more than that.

  • Pay Scale Structure

    Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Accounting and Finance in Bulgaria. The analysis revealed that roughly 65% of all reported salaries fell within the range of 1,830 BGN to 3,040 BGN. Approximately 20% of salaries were below the 1,830 BGN mark, while 10% ranged from 3,040 BGN to 3,590 BGN. Only 5% of individuals earned a gross salary of 3,590 BGN or higher.

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 in Accounting and Finance in Bulgaria 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.

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.


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.
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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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.

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 degree levels across many jobs in Accounting and Finance in Bulgaria, below are our findings.

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 certificate 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 Bulgaria costs anywhere from 16,600 BGN to 49,700 BGN and lasts approximately two years. That is quite an investment.

Employees can't expect any salary increases during the study period, assuming they 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 to 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 the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.



Salary and Compensation Comparison By Gender / Accounting and Finance / Bulgaria

Salary comparison by gender Bulgaria 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? In the field of Accounting and Finance in Bulgaria, the average difference between the salary of male and female employees is 6%.

Male
3,520 BGN
Female-6%
3,310 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
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Average Annual Salary Increment Percentage / Accounting and Finance / Bulgaria

How much are annual salary increments in Bulgaria for individuals working in Accounting and Finance? How often do employees get salary raises?

Professionals working in Accounting and Finance in Bulgaria are likely to observe a salary increase of approximately 9% every 18 months. The national average annual increment for all professions combined is 7% granted to employees every 20 months.

Annual Salary Increment Rate Bulgaria 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.

Bulgaria / All Professions

Annual Salary Increment Rate Bulgaria
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The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare 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%.

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.

Bonus and Incentive Rates / Accounting and Finance / Bulgaria

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Bulgaria Accounting and Finance
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24% of surveyed staff in Accounting and Finance 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 5% to 9% of their annual salary.

Received Bonus
76%
No Bonus
24%

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.

Example:
A graphics designer working for a graphics designing company.

Example:
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.

Hourly Average Wage / Accounting and Finance / Bulgaria


20 BGN per hour

The average hourly wage (pay per hour) in Accounting and Finance in Bulgaria is 20 BGN.This is the rate they get paid 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 fixed 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?

The minimum pay rate per hour for people working in Accounting and Finance in Bulgaria is 8 BGN. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary Comparison By City

CityAverage Salary
Burgas3,580 BGN
Plovdiv3,860 BGN
Rousse3,510 BGN
Sofia4,000 BGN
Stara Zagora3,360 BGN
Varna3,720 BGN

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Bulgaria is 9% on average across all career fields.

Private Sector
3,140 BGN
Public Sector+9%
3,440 BGN
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 in Accounting and Finance in Bulgaria?

A good and competitive compensation would range anywhere between 3,150 BGN and 3,810 BGN. This is a very rough estimate. Experience and education play a very huge part in the 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 salary after tax for every career.

Base / Basic Salary

The base salary for jobs in Accounting and Finance in Bulgaria ranges from 1,380 BGN to 2,470 BGN. 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 with 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 the average and the median then you are doing very well. If your salary is lower than both, then many people earn 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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