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Accounting and Finance Average Salaries in China 2020

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


Average Monthly Salary
29,800 CNY
( 357,000 CNY yearly)

LOW
12,200
CNY
AVERAGE
29,800
CNY
HIGH
60,600
CNY

A person working in Accounting and Finance in China typically earns around 29,800 CNY per month. Salaries range from 12,200 CNY (lowest average) to 60,600 CNY (highest average, actual maximum salary is higher).

This is the average monthly 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 Examiner14,700 CNY
Account Executive26,300 CNY
Accountant19,400 CNY
Accounting Assistant15,900 CNY
Accounting Associate14,800 CNY
Accounting Clerk12,500 CNY
Accounting Coordinator17,600 CNY
Accounting Manager43,600 CNY
Accounting Supervisor28,000 CNY
Accounting Technician14,100 CNY
Accounts Executive26,700 CNY
Accounts Payable and Receivable Specialist21,700 CNY
Accounts Payable Clerk15,900 CNY
Accounts Payable Manager40,000 CNY
Accounts Receivable Clerk15,700 CNY
Accounts Receivable Manager38,900 CNY
Assistant Accounting Manager38,500 CNY
Assistant Auditor20,700 CNY
Audit Supervisor37,300 CNY
Auditing Clerk16,100 CNY
Auditing Manager41,500 CNY
Billing Coordinator18,300 CNY
Billing Specialist21,400 CNY
Billing Supervisor31,500 CNY
Bookkeeper14,200 CNY
Bookkeeping Specialist19,200 CNY
Budget Analyst35,000 CNY
Budget Manager43,800 CNY
Business Support Analyst23,300 CNY
Capital Markets Associate30,500 CNY
Cash Flow Analyst30,300 CNY
Cash Management Officer22,800 CNY
Cashbook Clerk14,500 CNY
Chartered Accountant26,500 CNY
Collections Clerk12,700 CNY
Collections Specialist21,600 CNY
Corporate Treasurer40,500 CNY
Cost Accountant21,000 CNY
Cost Accounting Manager39,800 CNY
Cost Analyst33,300 CNY
Credit and Collection Manager42,500 CNY
Credit and Collection Staff16,200 CNY
Credit and Loans Officer14,300 CNY
Credit Controller29,100 CNY
Debt Adviser34,700 CNY
Debt Collector16,000 CNY
Debtors Clerk14,900 CNY
Deputy CFO57,600 CNY
Derivative Trader34,900 CNY
Escrow Assistant19,300 CNY
External Auditor29,200 CNY
Finance Associate17,200 CNY
Finance Executive44,300 CNY
Finance Licensing Clerk14,900 CNY
Finance Licensing Manager41,100 CNY
Finance Licensing Specialist22,100 CNY
Finance Officer20,600 CNY
Finance President58,600 CNY
Finance Relationship Manager48,500 CNY
Finance Release Analyst24,700 CNY
Finance Team Leader 44,100 CNY
Financial Actuary30,500 CNY
Financial Administrator33,300 CNY
Financial Analyst38,100 CNY
Financial Applications Specialist27,100 CNY
Financial Assistant16,500 CNY
Financial Associate17,000 CNY
Financial Claims Analyst26,500 CNY
Financial Claims Manager36,600 CNY
Financial Commercial Analyst28,700 CNY
Financial Compliance Analyst33,000 CNY
Financial Consultant27,800 CNY
Financial Controller34,000 CNY
Financial Coordinator18,800 CNY
Financial Customer Service Manager39,400 CNY
Financial Dealer and Broker21,900 CNY
Financial Encoder17,600 CNY
Financial Manager55,000 CNY
Financial Manager55,500 CNY
Financial Operations Manager54,800 CNY
Financial Policy Analyst32,200 CNY
Financial Project Manager41,300 CNY
Financial Quantitative Analyst34,200 CNY
Financial Reporting Consultant29,300 CNY
Financial Reporting Manager39,700 CNY
Financial Services Sales Agent21,700 CNY
Fixed Assets Administrator22,400 CNY
Forensic Accountant24,500 CNY
Fraud Detection Supervisor25,200 CNY
Fraud Prevention Manager43,500 CNY
Fund Accountant19,300 CNY
Grants Coordinator15,300 CNY
Internal Auditor26,400 CNY
Internal Control Adviser32,100 CNY
Internal Control Officer18,600 CNY
Inventory Accountant22,400 CNY
Investment Analyst39,400 CNY
Investment Fund Manager46,500 CNY
Investment Underwriter16,700 CNY
Investor26,900 CNY
Investor Relations Manager39,600 CNY
KYC Team Leader40,100 CNY
Management Economist45,800 CNY
Paymaster16,000 CNY
Payroll Clerk17,500 CNY
Payroll Manager38,400 CNY
Pensions Administrator20,800 CNY
Pricing Analyst34,800 CNY
Private Equity Analyst38,200 CNY
Proposal Development Coordinator17,500 CNY
Receivables Accountant19,000 CNY
Regulatory Accountant23,100 CNY
Retirement Plan Analyst32,600 CNY
Revenue Management Specialist35,400 CNY
Revenue Recognition Analyst38,200 CNY
Risk Management Director51,400 CNY
Risk Management Supervisor40,000 CNY
Tax Accountant19,500 CNY
Tax Advisor31,800 CNY
Tax Associate18,300 CNY
Tax Manager43,200 CNY
Teller12,500 CNY
Treasury Accountant21,600 CNY
Treasury Analyst33,200 CNY
Underwriter14,000 CNY
Underwriting Assistant13,800 CNY
Vice President of Finance56,000 CNY

Accounting and Finance Jobs Salary Distribution in China

Median and salary distribution monthly China Accounting and Finance
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The median, the maximum, the minimum, and the range

  • Salary Range

    Accounting and Finance salaries in China range from 12,200 CNY per month (minimum average salary) to 60,600 CNY per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 29,800 CNY per month, which means that half (50%) of people working in Accounting and Finance are earning less than 29,800 CNY while the other half are earning more than 29,800 CNY. 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 18,900 CNY while 75% of them are earning more than 18,900 CNY. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 45,200 CNY while 25% are earning more than 45,200 CNY.


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 China costs anywhere from 147,000 Yuan Renminbi(s) to 440,000 Yuan Renminbi(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 monthly China 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 China who work in Accounting and Finance earn 7% more than their female counterparts on average.

Female
28,700 CNY
Male+7%
30,600 CNY
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in China for all Careers

Salary comparison by gender monthly China
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Accounting and Finance Average Annual Salary Increment Percentage in China

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

Accounting and Finance

Accounting and Finance professionals in China 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 China 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.

China / 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 China is 7%.

Annual Increment Rate By Industry 2019

Banking
8%
Energy
7%
Information Technology
6%
Healthcare
5%
Travel
4%
Construction
3%
Education
2%

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

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Accounting and Finance Bonus and Incentive Rates in China

How much and how often are bonuses being awarded?Annual Salary Bonus Rate China 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.

21% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 79% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 5% to 8% of their annual salary.

Received Bonus
79%
No Bonus
21%

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.

Government vs Private Sector Salary Comparison

Public vs private sector salaries monthly China
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Where can you get paid more, working for a private company or for the government? Public sector employees in China earn 6% more than their private sector counterparts on average across all sectors.

Private Sector
28,500 CNY
Public Sector+6%
30,200 CNY
Percentage increase and decrease are relative to the previous value

Accounting and Finance Hourly Average Wage in China


170 CNY per hour

The average hourly wage (pay per hour) in China is 170 CNY. This means that the average person in China earns approximately 170 CNY 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 monthly China
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The average salary for Accounting and Finance is 2% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Beijing34,100 CNY
Changchun28,400 CNY
Changsha27,000 CNY
Chengdu31,200 CNY
Chongqing34,500 CNY
Dalian28,100 CNY
Dongguan26,800 CNY
Foshan26,500 CNY
Fuzhou28,400 CNY
Guangzhou32,900 CNY
Hangzhou33,100 CNY
Harbin31,600 CNY
Jinan33,100 CNY
Kunming26,800 CNY
Nanjing29,800 CNY
Qingdao30,700 CNY
Quanzhou27,900 CNY
Shanghai32,200 CNY
Shantou29,100 CNY
Shenyang30,800 CNY
Shenzhen29,400 CNY
Suzhou28,700 CNY
Tianjin31,200 CNY
Wenzhou29,400 CNY
Wuhan34,100 CNY
Wuxi25,600 CNY
Xi an32,600 CNY
Xiamen27,300 CNY
Zhengzhou26,400 CNY

Salary Comparison By State

StateAverage Salary
Anhui30,700 CNY
Beijing25,400 CNY
Chongqing27,100 CNY
Fujian28,800 CNY
Gansu26,600 CNY
Guangdong32,900 CNY
Guangxi30,100 CNY
Guizhou27,500 CNY
Hainan25,000 CNY
Hebei31,600 CNY
Heilongjiang28,200 CNY
Henan32,500 CNY
Hubei30,800 CNY
Hunan31,500 CNY
Jiangsu32,100 CNY
Jiangxi29,800 CNY
Jilin27,200 CNY
Liaoning29,600 CNY
Nei Monggol26,700 CNY
Ningxia25,000 CNY
Qinghai24,700 CNY
Shaanxi28,800 CNY
Shandong33,200 CNY
Shanghai26,500 CNY
Shanxi28,300 CNY
Sichuan32,700 CNY
Tianjin25,700 CNY
Xinjiang Uygur26,300 CNY
Xizang [Tibet]24,600 CNY
Yunnan30,500 CNY
Zhejiang31,100 CNY
23707 - 38

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