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Accounting and Finance Average Salaries in Montreal 2023

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

Average Yearly Salary
138,000 CAD
( 11,500 CAD monthly)


A person working in Accounting and Finance in Montreal typically earns around 138,000 CAD per year. Salaries range from 56,000 CAD (lowest average) to 278,000 CAD (highest average, actual maximum salary is higher).

This is the average yearly 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 Examiner68,000 CAD
Account Executive122,000 CAD
Accountant91,200 CAD
Accounting Assistant69,200 CAD
Accounting Associate64,700 CAD
Accounting Clerk55,900 CAD
Accounting Coordinator81,600 CAD
Accounting Manager200,000 CAD
Accounting Supervisor129,000 CAD
Accounting Technician62,800 CAD
Accounts Executive120,000 CAD
Accounts Payable and Receivable Specialist89,500 CAD
Accounts Payable Clerk68,000 CAD
Accounts Payable Manager175,000 CAD
Accounts Receivable Clerk70,700 CAD
Accounts Receivable Manager180,000 CAD
Assistant Accounting Manager171,000 CAD
Assistant Auditor93,100 CAD
Audit Supervisor160,000 CAD
Auditing Clerk69,000 CAD
Auditing Manager198,000 CAD
Billing Coordinator80,100 CAD
Billing Specialist102,000 CAD
Billing Supervisor147,000 CAD
Bookkeeper61,400 CAD
Bookkeeping Specialist85,600 CAD
Budget Analyst156,000 CAD
Budget Manager181,000 CAD
Business Support Analyst105,000 CAD
Capital Markets Associate138,000 CAD
Cash Flow Analyst142,000 CAD
Cash Management Officer102,000 CAD
Cashbook Clerk60,900 CAD
Chartered Accountant121,000 CAD
Collections Clerk56,300 CAD
Collections Specialist92,300 CAD
Corporate Treasurer173,000 CAD
Cost Accountant88,500 CAD
Cost Accounting Manager174,000 CAD
Cost Analyst150,000 CAD
Credit and Collection Manager175,000 CAD
Credit and Collection Staff72,800 CAD
Credit and Loans Officer66,000 CAD
Credit Controller122,000 CAD
Debt Adviser148,000 CAD
Debt Collector77,500 CAD
Debtors Clerk62,500 CAD
Deputy CFO251,000 CAD
Derivative Trader161,000 CAD
Escrow Assistant84,900 CAD
External Auditor129,000 CAD
Finance Associate83,700 CAD
Finance Executive196,000 CAD
Finance Licensing Clerk66,000 CAD
Finance Licensing Manager170,000 CAD
Finance Licensing Specialist103,000 CAD
Finance Officer84,800 CAD
Finance President262,000 CAD
Finance Relationship Manager218,000 CAD
Finance Release Analyst107,000 CAD
Finance Team Leader 204,000 CAD
Financial Actuary146,000 CAD
Financial Administrator156,000 CAD
Financial Analyst160,000 CAD
Financial Applications Specialist113,000 CAD
Financial Assistant70,800 CAD
Financial Associate77,500 CAD
Financial Claims Analyst125,000 CAD
Financial Claims Manager160,000 CAD
Financial Commercial Analyst135,000 CAD
Financial Compliance Analyst142,000 CAD
Financial Consultant127,000 CAD
Financial Controller150,000 CAD
Financial Coordinator86,500 CAD
Financial Customer Service Manager174,000 CAD
Financial Dealer and Broker99,100 CAD
Financial Encoder79,300 CAD
Financial Manager269,000 CAD
Financial Operations Manager238,000 CAD
Financial Policy Analyst140,000 CAD
Financial Project Manager181,000 CAD
Financial Quantitative Analyst161,000 CAD
Financial Reporting Consultant135,000 CAD
Financial Reporting Manager173,000 CAD
Financial Services Sales Agent96,900 CAD
Fixed Assets Administrator97,100 CAD
Forensic Accountant110,000 CAD
Fraud Detection Supervisor114,000 CAD
Fraud Prevention Manager183,000 CAD
Fund Accountant91,800 CAD
Grants Coordinator66,600 CAD
Internal Auditor120,000 CAD
Internal Control Adviser145,000 CAD
Internal Control Officer78,000 CAD
Inventory Accountant92,300 CAD
Investment Analyst179,000 CAD
Investment Fund Manager206,000 CAD
Investment Underwriter76,100 CAD
Investor117,000 CAD
Investor Relations Manager177,000 CAD
KYC Team Leader175,000 CAD
Management Economist205,000 CAD
Paymaster75,300 CAD
Payroll Clerk78,000 CAD
Payroll Manager175,000 CAD
Pensions Administrator93,200 CAD
Pricing Analyst159,000 CAD
Private Equity Analyst157,000 CAD
Proposal Development Coordinator78,300 CAD
Receivables Accountant84,500 CAD
Regulatory Accountant97,000 CAD
Retirement Plan Analyst147,000 CAD
Revenue Management Specialist148,000 CAD
Revenue Recognition Analyst164,000 CAD
Risk Management Director219,000 CAD
Risk Management Supervisor175,000 CAD
Tax Accountant90,800 CAD
Tax Advisor146,000 CAD
Tax Associate79,300 CAD
Tax Manager194,000 CAD
Teller53,300 CAD
Treasury Accountant96,500 CAD
Treasury Analyst153,000 CAD
Underwriter61,500 CAD
Underwriting Assistant62,000 CAD
Vice President of Finance253,000 CAD

Accounting and Finance Jobs Salary Distribution in Montreal

Median and salary distribution yearly Montreal Accounting and Finance
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The median, the maximum, the minimum, and the range

  • Salary Range

    Accounting and Finance salaries in Montreal range from 56,000 CAD per year (minimum average salary) to 278,000 CAD per year (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 144,000 CAD per year, which means that half (50%) of people working in Accounting and Finance are earning less than 144,000 CAD while the other half are earning more than 144,000 CAD. 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 people working in Accounting and Finance are earning less than 90,000 CAD while 75% of them are earning more than 90,000 CAD. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 220,000 CAD while 25% are earning more than 220,000 CAD.

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

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 Canada costs anywhere from 49,800 Canadian Dollar(s) to 149,000 Canadian 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.

Accounting and Finance Salary Comparison By Gender

Salary comparison by gender yearly Canada Accounting and Finance
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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 Canada who work in Accounting and Finance earn 5% more than their female counterparts on average.

126,000 CAD
120,000 CAD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Canada for all Careers

Salary comparison by gender yearly Canada
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Accounting and Finance Average Annual Salary Increment Percentage in Canada

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

Accounting and Finance

Accounting and Finance professionals in Canada are likely to observe a salary increase of approximately 11% every 13 months. The national average annual increment for all professions combined is 9% granted to employees every 15 months.

Annual Salary Increment Rate Canada 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.

Canada / 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 Canada is 7%.

Annual Increment Rate By Industry 2022

Information Technology

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

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Accounting and Finance Bonus and Incentive Rates in Canada

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Canada Accounting and Finance
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Accounting and Finance is considered to be a high bonus-based field 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.

17% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 83% 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 Hourly Average Wage in Montreal

67 CAD per hour

The average hourly wage (pay per hour) in Montreal is 67 CAD. This means that the average person in Montreal earns approximately 67 CAD 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 and Finance VS Other Jobs

Salary Comparison Between Accounting and Finance and Accounting and Finance yearly Montreal
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The average salary for Accounting and Finance is 3% more than that of All Jobs.

Montreal VS Canada

Salary Comparison Between Montreal and Canada yearly Accounting and Finance
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We compared Accounting and Finance salaries in Montreal, Quebec, and Canada and we found that Montreal salaries are 2% more than those of Quebec. We also found out that Quebec salaries are 11% more than those of Canada.

Salary Comparison By City

CityAverage Salary
Gatineau119,000 CAD
Montreal138,000 CAD
Quebec130,000 CAD

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 Canada earn 4% more than their private sector counterparts on average across all sectors.

Private Sector
117,000 CAD
Public Sector+4%
122,000 CAD
Percentage increase and decrease are relative to the previous value

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