A person working in Accounting and Finance in Costa Rica typically earns around 2,430,000 CRC per month. Salaries range from 984,000 CRC (lowest average) to 4,880,000 CRC (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.
|Job Title||Average Salary|
|Account Examiner||1,240,000 CRC|
|Account Executive||2,180,000 CRC|
|Accounting Assistant||1,260,000 CRC|
|Accounting Associate||1,190,000 CRC|
|Accounting Clerk||999,000 CRC|
|Accounting Coordinator||1,490,000 CRC|
|Accounting Manager||3,510,000 CRC|
|Accounting Supervisor||2,290,000 CRC|
|Accounting Technician||1,210,000 CRC|
|Accounts Executive||2,020,000 CRC|
|Accounts Payable and Receivable Specialist||1,670,000 CRC|
|Accounts Payable Clerk||1,170,000 CRC|
|Accounts Payable Manager||3,280,000 CRC|
|Accounts Receivable Clerk||1,180,000 CRC|
|Accounts Receivable Manager||3,240,000 CRC|
|Assistant Accounting Manager||3,190,000 CRC|
|Assistant Auditor||1,590,000 CRC|
|Audit Supervisor||2,920,000 CRC|
|Auditing Clerk||1,260,000 CRC|
|Auditing Manager||3,360,000 CRC|
|Billing Coordinator||1,520,000 CRC|
|Billing Specialist||1,710,000 CRC|
|Billing Supervisor||2,610,000 CRC|
|Bookkeeping Specialist||1,640,000 CRC|
|Budget Analyst||2,950,000 CRC|
|Budget Manager||3,370,000 CRC|
|Business Support Analyst||1,800,000 CRC|
|Capital Markets Associate||2,420,000 CRC|
|Cash Flow Analyst||2,590,000 CRC|
|Cash Management Officer||1,980,000 CRC|
|Cashbook Clerk||1,150,000 CRC|
|Chartered Accountant||2,100,000 CRC|
|Collections Clerk||1,050,000 CRC|
|Collections Specialist||1,610,000 CRC|
|Corporate Treasurer||3,020,000 CRC|
|Cost Accountant||1,720,000 CRC|
|Cost Accounting Manager||3,310,000 CRC|
|Cost Analyst||2,530,000 CRC|
|Credit and Collection Manager||3,260,000 CRC|
|Credit and Collection Staff||1,210,000 CRC|
|Credit and Loans Officer||1,210,000 CRC|
|Credit Controller||2,340,000 CRC|
|Debt Adviser||2,630,000 CRC|
|Debt Collector||1,350,000 CRC|
|Debtors Clerk||1,160,000 CRC|
|Deputy CFO||4,500,000 CRC|
|Derivative Trader||2,860,000 CRC|
|Escrow Assistant||1,500,000 CRC|
|External Auditor||2,380,000 CRC|
|Finance Associate||1,460,000 CRC|
|Finance Executive||3,610,000 CRC|
|Finance Licensing Clerk||1,230,000 CRC|
|Finance Licensing Manager||3,110,000 CRC|
|Finance Licensing Specialist||1,860,000 CRC|
|Finance Officer||1,560,000 CRC|
|Finance President||5,100,000 CRC|
|Finance Relationship Manager||3,680,000 CRC|
|Finance Release Analyst||1,870,000 CRC|
|Finance Team Leader||3,730,000 CRC|
|Financial Actuary||2,470,000 CRC|
|Financial Administrator||2,850,000 CRC|
|Financial Analyst||3,060,000 CRC|
|Financial Applications Specialist||2,110,000 CRC|
|Financial Assistant||1,290,000 CRC|
|Financial Associate||1,320,000 CRC|
|Financial Claims Analyst||2,120,000 CRC|
|Financial Claims Manager||2,950,000 CRC|
|Financial Commercial Analyst||2,490,000 CRC|
|Financial Compliance Analyst||2,580,000 CRC|
|Financial Consultant||2,200,000 CRC|
|Financial Controller||2,690,000 CRC|
|Financial Coordinator||1,520,000 CRC|
|Financial Customer Service Manager||3,070,000 CRC|
|Financial Dealer and Broker||1,740,000 CRC|
|Financial Encoder||1,350,000 CRC|
|Financial Manager||4,400,000 CRC|
|Financial Operations Manager||4,150,000 CRC|
|Financial Policy Analyst||2,550,000 CRC|
|Financial Project Manager||3,440,000 CRC|
|Financial Quantitative Analyst||2,970,000 CRC|
|Financial Reporting Consultant||2,400,000 CRC|
|Financial Reporting Manager||3,150,000 CRC|
|Financial Services Sales Agent||1,730,000 CRC|
|Fixed Assets Administrator||1,690,000 CRC|
|Forensic Accountant||1,860,000 CRC|
|Fraud Detection Supervisor||1,970,000 CRC|
|Fraud Prevention Manager||3,440,000 CRC|
|Fund Accountant||1,540,000 CRC|
|Grants Coordinator||1,230,000 CRC|
|Internal Auditor||2,170,000 CRC|
|Internal Control Adviser||2,520,000 CRC|
|Internal Control Officer||1,470,000 CRC|
|Inventory Accountant||1,690,000 CRC|
|Investment Analyst||3,190,000 CRC|
|Investment Fund Manager||3,790,000 CRC|
|Investment Underwriter||1,380,000 CRC|
|Investor Relations Manager||3,160,000 CRC|
|KYC Team Leader||3,180,000 CRC|
|Management Economist||3,660,000 CRC|
|Payroll Clerk||1,500,000 CRC|
|Payroll Manager||3,000,000 CRC|
|Pensions Administrator||1,670,000 CRC|
|Pricing Analyst||2,720,000 CRC|
|Private Equity Analyst||2,890,000 CRC|
|Proposal Development Coordinator||1,400,000 CRC|
|Receivables Accountant||1,580,000 CRC|
|Regulatory Accountant||1,850,000 CRC|
|Retirement Plan Analyst||2,550,000 CRC|
|Revenue Management Specialist||2,800,000 CRC|
|Revenue Recognition Analyst||2,950,000 CRC|
|Risk Management Director||3,780,000 CRC|
|Risk Management Supervisor||3,280,000 CRC|
|Tax Accountant||1,610,000 CRC|
|Tax Advisor||2,520,000 CRC|
|Tax Associate||1,380,000 CRC|
|Tax Manager||3,220,000 CRC|
|Treasury Accountant||1,720,000 CRC|
|Treasury Analyst||2,760,000 CRC|
|Underwriting Assistant||1,050,000 CRC|
|Vice President of Finance||4,390,000 CRC|
Accounting and Finance salaries in Costa Rica range from 984,000 CRC per month (minimum average salary) to 4,880,000 CRC per month (maximum average salary, actual maximum is higher).
The median salary is 2,240,000 CRC per month, which means that half (50%) of people working in Accounting and Finance are earning less than 2,240,000 CRC while the other half are earning more than 2,240,000 CRC. 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.
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 1,450,000 CRC while 75% of them are earning more than 1,450,000 CRC. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 3,280,000 CRC while 25% are earning more than 3,280,000 CRC.
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
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.
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.
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.
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.
A Master's degree program or any post-graduate program in Costa Rica costs anywhere from 11,800,000 Costa Rican Colon(s) to 35,400,000 Costa Rican Colon(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.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Costa Rica who work in Accounting and Finance earn 6% more than their female counterparts on average.
Accounting and Finance professionals in Costa Rica are likely to observe a salary increase of approximately 11% every 15 months. The national average annual increment for all professions combined is 9% granted to employees every 17 months.
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.
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
Listed above are the average annual increase rates for each industry in Costa Rica 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.
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.
28% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 72% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 6% to 7% of their annual salary.
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.
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.
The main two types of jobs
|Revenue Generators||Supporting 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.
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.
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.
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.
The average salary for Accounting and Finance is 3% more than that of All Jobs.
|San Jose||2,590,000 CRC|
Where can you get paid more, working for a private company or for the government? Public sector employees in Costa Rica earn 6% more than their private sector counterparts on average across all sectors.