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Accounting and Finance Average Salaries in Montreal 2024

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


Average Yearly Salary
140,000 CAD
( 11,600 CAD monthly)

LOW
56,000
CAD
AVERAGE
140,000
CAD
HIGH
278,000
CAD
All salary figures displayed here are per year 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 Montreal typically earns around 140,000 CAD. Salaries range from 56,000 CAD (lowest average) to 278,000 CAD (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 Montreal 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 Examiner68,000 CAD
Account Executive122,000 CAD
Accountant91,200 CAD
Accounting Analyst118,000 CAD
Accounting Assistant69,200 CAD
Accounting Associate64,700 CAD
Accounting Clerk55,900 CAD
Accounting Coordinator81,600 CAD
Accounting Head194,000 CAD
Accounting Manager200,000 CAD
Accounting Officer69,400 CAD
Accounting Specialist123,000 CAD
Accounting Supervisor129,000 CAD
Accounting Technician62,800 CAD
Accounting Unit Controller157,000 CAD
Accounts Executive120,000 CAD
Accounts Officer69,000 CAD
Accounts Payable and Receivable Specialist89,500 CAD
Accounts Payable Assistant70,800 CAD
Accounts Payable Associate87,700 CAD
Accounts Payable Clerk68,000 CAD
Accounts Payable Manager175,000 CAD
Accounts Receivable Administrator133,000 CAD
Accounts Receivable Clerk70,700 CAD
Accounts Receivable Financial Analyst124,000 CAD
Accounts Receivable Manager180,000 CAD
Accounts Receivable Team Leader139,000 CAD
Algorithmic Trading Specialist155,000 CAD
Assistant Accountant67,800 CAD
Assistant Accounting Manager171,000 CAD
Assistant Auditor93,100 CAD
Assistant Corporate Controller123,000 CAD
Assistant Finance Manager185,000 CAD
Assistant Financial Controller127,000 CAD
Audit Director208,000 CAD
Audit Supervisor160,000 CAD
Auditing Clerk69,000 CAD
Auditing Manager198,000 CAD
Billing Clerk69,200 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 Manager181,000 CAD
Cash Management Officer102,000 CAD
Cashbook Clerk60,900 CAD
Chartered Accountant121,000 CAD
Chief Accountant141,000 CAD
Chief Financial Technology Officer183,000 CAD
Collections Clerk56,300 CAD
Collections Representative83,700 CAD
Collections Specialist92,300 CAD
Corporate Controller147,000 CAD
Corporate Treasurer173,000 CAD
Cost Accountant88,500 CAD
Cost Accounting Manager174,000 CAD
Cost Accounting Supervisor149,000 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
Credit Manager185,000 CAD
Debt Adviser148,000 CAD
Debt Collector77,500 CAD
Debtors Clerk62,500 CAD
Debtors Controller69,400 CAD
Deputy CFO251,000 CAD
Deputy Head of Finance261,000 CAD
Derivative Trader161,000 CAD
Director of Finance262,000 CAD
E-commerce Accountant99,000 CAD
Economist220,000 CAD
Equity Analyst159,000 CAD
Escrow Assistant84,900 CAD
Executive Accountant103,000 CAD
External Auditor129,000 CAD
Finance Administrator105,000 CAD
Finance Analyst167,000 CAD
Finance Associate83,700 CAD
Finance Data Analyst154,000 CAD
Finance Director275,000 CAD
Finance Executive196,000 CAD
Finance Licensing Clerk66,000 CAD
Finance Licensing Manager170,000 CAD
Finance Licensing Specialist103,000 CAD
Finance Manager254,000 CAD
Finance Officer84,800 CAD
Finance President262,000 CAD
Finance Relationship Manager218,000 CAD
Finance Release Analyst107,000 CAD
Finance Specialist145,000 CAD
Finance Team Leader 204,000 CAD
Financial Accountant93,100 CAD
Financial Actuary146,000 CAD
Financial Administrator156,000 CAD
Financial Advisor171,000 CAD
Financial Analyst160,000 CAD
Financial Applications Specialist113,000 CAD
Financial Assistant70,800 CAD
Financial Associate77,500 CAD
Financial Associate87,400 CAD
Financial Claims Analyst125,000 CAD
Financial Claims Manager160,000 CAD
Financial Claims Supervisor159,000 CAD
Financial Clerk73,500 CAD
Financial Commercial Analyst135,000 CAD
Financial Compliance Analyst142,000 CAD
Financial Compliance Officer146,000 CAD
Financial Consultant127,000 CAD
Financial Controller144,000 CAD
Financial Controller150,000 CAD
Financial Coordinator86,400 CAD
Financial Customer Service Manager174,000 CAD
Financial Data Scientist167,000 CAD
Financial Dealer and Broker99,100 CAD
Financial Director259,000 CAD
Financial Encoder79,300 CAD
Financial Manager269,000 CAD
Financial Manager246,000 CAD
Financial Modelling Analyst172,000 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 Section Head182,000 CAD
Financial Services Manager238,000 CAD
Financial Services Sales Agent96,900 CAD
Financial Technology Consultant147,000 CAD
Financial Wellness Coach186,000 CAD
FinTech Analyst151,000 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
Green Finance Analyst143,000 CAD
Group Financial Manager254,000 CAD
Internal Auditor120,000 CAD
Internal Control Adviser145,000 CAD
Internal Control Officer78,000 CAD
International Tax Director212,000 CAD
Inventory Accountant92,300 CAD
Investment Advisor250,000 CAD
Investment Analyst179,000 CAD
Investment Associate160,000 CAD
Investment Broker147,000 CAD
Investment Fund Manager206,000 CAD
Investment Operations Manager210,000 CAD
Investment Underwriter76,100 CAD
Investor117,000 CAD
Investor Relations Manager177,000 CAD
KYC Team Leader175,000 CAD
Loan Processor72,700 CAD
Management Accountant104,000 CAD
Management Economist205,000 CAD
Paymaster75,300 CAD
Payroll Administrator122,000 CAD
Payroll Benefits Coordinator104,000 CAD
Payroll Billing Manager167,000 CAD
Payroll Clerk78,000 CAD
Payroll Manager175,000 CAD
Payroll Officer77,200 CAD
Payroll Specialist99,000 CAD
Payroll Supervisor119,000 CAD
Pensions Administrator93,200 CAD
Personal Financial Advisor136,000 CAD
Pricing Analyst159,000 CAD
Private Equity Analyst157,000 CAD
Project Accountant96,100 CAD
Proposal Development Coordinator78,300 CAD
Quantitative Trader136,000 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
Staff Accountant90,900 CAD
Tax Accountant90,800 CAD
Tax Administrator96,100 CAD
Tax Advisor146,000 CAD
Tax Analyst141,000 CAD
Tax Associate79,300 CAD
Tax Consultant143,000 CAD
Tax Director222,000 CAD
Tax Examiner95,200 CAD
Tax Manager194,000 CAD
Tax Research Manager188,000 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 Pay Scale and Salaries in Montreal

Median and salary distribution Montreal Accounting and Finance yearly
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Salary Structure and Pay Scale Comparison

5% of people earn
148,000 CAD or more
10% of people earn
125,000 to 148,000 CAD
20% of people earn
75,300 CAD or less
65% of people earn
75,300 to 125,000 CAD
Minimum Salary
56,000 CAD
Median
130,000 CAD
Maximum
278,000 CAD




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

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

    Salaries in Accounting and Finance in Montreal range from 56,000 CAD (starting average salary) to 278,000 CAD (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 130,000 CAD, implying that half of the workforce in Montreal 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 Montreal earn less than 101,000 CAD, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 157,000 CAD, 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 Montreal. The analysis revealed that roughly 65% of all reported salaries fell within the range of 75,300 CAD to 125,000 CAD. Approximately 20% of salaries were below the 75,300 CAD mark, while 10% ranged from 125,000 CAD to 148,000 CAD. Only 5% of individuals earned a gross salary of 148,000 CAD 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 Montreal 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 Montreal, 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 Canada costs anywhere from 50,000 CAD to 150,000 CAD 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 / Montreal

Salary comparison by gender Canada Accounting and Finance yearly
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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 Canada, the average difference between the salary of male and female employees is 5%.

Male
127,000 CAD
Female-5%
121,000 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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Average Annual Salary Increment Percentage / Accounting and Finance / Montreal

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

Professionals working in Accounting and Finance in Canada are likely to observe a salary increase of approximately % every 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

Annual Salary Increment Rate Canada
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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 Canada is 7%.

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 / Canada

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Canada Accounting and Finance
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100% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while % said that they received at least one form of monetary bonus.

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

Received Bonus
%
No Bonus
100%

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 / Montreal


67 CAD per hour

The average hourly wage (pay per hour) in Accounting and Finance in Montreal is 67 CAD.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 Montreal is 27 CAD. 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
Gatineau119,000 CAD
Montreal140,000 CAD
Quebec131,000 CAD

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 Canada is 4% on average across all career fields.

Private Sector
117,000 CAD
Public Sector+4%
122,000 CAD
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 Montreal?

A good and competitive compensation would range anywhere between 130,000 CAD and 157,000 CAD. 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 Montreal ranges from 56,000 CAD to 101,000 CAD. 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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