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Accountant Average Salary in Czech Republic 2020

How much money does an Accountant make in Czech Republic?


Average Monthly Salary
72,800 CZK
( 873,000 CZK yearly)

LOW
35,700
CZK
AVERAGE
72,800
CZK
HIGH
114,000
CZK

A person working as an Accountant in Czech Republic typically earns around 72,800 CZK per month. Salaries range from 35,700 CZK (lowest) to 114,000 CZK (highest).

This is the average monthly salary including housing, transport, and other benefits. Accountant salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.

Accountant Salary Distribution in Czech Republic

Median and salary distribution monthly Czech Republic Accountant
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The median, the maximum, the minimum, and the range

  • Salary Range

    Accountant salaries in Czech Republic range from 35,700 CZK per month (minimum salary) to 114,000 CZK per month (maximum salary).

  • Median Salary

    The median salary is 74,200 CZK per month, which means that half (50%) of people working as Accountant(s) are earning less than 74,200 CZK while the other half are earning more than 74,200 CZK. 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 Accountant(s) are earning less than 49,400 CZK while 75% of them are earning more than 49,400 CZK. Also from the diagram, 75% of Accountant(s) are earning less than 95,700 CZK while 25% are earning more than 95,700 CZK.


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

Accountant Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Czech Republic Accountant
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Accountant salaries by experience level and this is what we found.

An Accountant with less than two years of experience makes approximately 42,300 CZK per month.

While someone with an experience level between two and five years is expected to earn 54,300 CZK per month, 29% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 75,000 CZK per month, 38% more than someone with two to five years of experience.

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.

Additionally, Accountant(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 92,900 CZK per month, 24% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 99,500 CZK per month, 7% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 106,000 CZK per month, 7% more than people with fifteen to twenty years of experience.


Accountant average salary change by experience in Czech Republic

0 - 2 Years
42,300 CZK
2 - 5 Years+29%
54,300 CZK
5 - 10 Years+38%
75,000 CZK
10 - 15 Years+24%
92,900 CZK
15 - 20 Years+7%
99,500 CZK
20+ Years+7%
106,000 CZK
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Accountant Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Accountant(s) who have the same experience but different education levels.

Salary comparison by education level monthly Czech Republic Accountant
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We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Accountant salaries by education level in order to make a comparison.

When the education level is High School, the average salary of an Accountant is 52,800 CZK per month.

While someone with a Certificate or Diploma gets a salary of 60,600 CZK per month, 15% more than someone having a High School degree.

A Bachelor's Degree gets its holder an average salary of 81,600 CZK per month, 35% more than someone with a Certificate or Diploma.

Professionals who hold a Master's Degree are rewarded with an average salary of 103,000 CZK per month, 26% more than someone with Bachelor's Degree.


Accountant average salary difference by education level in Czech Republic

High School
52,800 CZK
Certificate or Diploma+15%
60,600 CZK
Bachelor's Degree+35%
81,600 CZK
Master's Degree+26%
103,000 CZK
Percentage increase and decrease are relative to the previous value

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 Czech Republic costs anywhere from 532,000 Czech Koruna(s) to 1,600,000 Czech Koruna(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 the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Accountant Salary Comparison By Gender

Salary comparison by gender monthly Czech Republic Accountant
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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 Accountant employees in Czech Republic earn 7% more than their female counterparts.

Female
70,000 CZK
Male+7%
74,900 CZK
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Czech Republic for all Careers

Salary comparison by gender monthly Czech Republic
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Accountant Average Annual Salary Increment Percentage in Czech Republic

How much are annual salary increments in Czech Republic for Accountant(s)? How often do employees get salary raises?

Accountant

Accountant(s) in Czech Republic are likely to observe a salary increase of approximately 11% every 17 months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.

Annual Salary Increment Rate Czech Republic Accountant
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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.

Czech Republic / All Professions

Annual Salary Increment Rate Czech Republic
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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 Czech Republic is 5%.

Annual Increment Rate By Industry 2019

Banking
3%
Energy
6%
Information Technology
9%
Healthcare
3%
Travel
6%
Construction
9%
Education
3%

Listed above are the average annual increase rates for each industry in Czech Republic 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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Accountant Bonus and Incentive Rates in Czech Republic

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Czech Republic Accountant
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An Accountant is considered to be a moderate bonus-based job 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.

45% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 55% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 3% to 6% of their annual salary.

Received Bonus
55%
No Bonus
45%

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 Czech Republic
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Where can you get paid more, working for a private company or for the government? Public sector Accountant employees in Czech Republic earn 7% more than their private sector counterparts.

Private Sector
103,000 CZK
Public Sector+7%
111,000 CZK
Percentage increase and decrease are relative to the previous value

Accountant Salary Trend and Forecast in Czech Republic

How are Accountant salaries changing over time? Listed below is a chart that shows the average salary in recent years.

Salary trends and forecast monthly Czech Republic Accountant
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Average Salary 2016
64,600 CZK
Average Salary 2017+4%
67,000 CZK
Average Salary 2018+3%
68,900 CZK
Average Salary 2019+2%
70,200 CZK
Percentage increase and decrease are relative to the previous value

Accountant salaries in Czech Republic are on the rise in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 2% higher than those of 2018. The trend suggests a slow yet continuous increase in pay in 2021 and future years. These numbers may vary from industry to another.

Accountant Average Hourly Wage in Czech Republic


420 CZK per hour

The average hourly wage (pay per hour) in Czech Republic is 420 CZK. This means that the average Accountant in Czech Republic earns approximately 420 CZK 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.

Accountant VS Other Jobs

Salary Comparison Between Accountant and Accounting and Finance monthly Czech Republic
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The average salary for Accountant is 29% less than that of Accounting and Finance. Also, Accounting and Finance salaries are 3% less than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Account Examiner62,100 CZK-15%
Account Executive95,800 CZK+32%
Accountant72,800 CZK+0%
Accounting Assistant67,200 CZK-8%
Accounting Associate72,500 CZK-0%
Accounting Clerk51,900 CZK-29%
Accounting Coordinator55,700 CZK-23%
Accounting Manager138,000 CZK+90%
Accounting Supervisor102,000 CZK+40%
Accounting Technician61,900 CZK-15%
Accounts Executive90,000 CZK+24%
Accounts Payable and Receivable Specialist85,200 CZK+17%
Accounts Payable Clerk51,400 CZK-29%
Accounts Payable Manager110,000 CZK+51%
Accounts Receivable Clerk56,000 CZK-23%
Accounts Receivable Manager118,000 CZK+62%
Assistant Accounting Manager92,300 CZK+27%
Assistant Auditor73,400 CZK+1%
Audit Supervisor139,000 CZK+91%
Auditing Clerk70,300 CZK-3%
Auditing Manager150,000 CZK+110%
Billing Coordinator85,400 CZK+17%
Billing Specialist77,300 CZK+6%
Billing Supervisor101,000 CZK+39%
Bookkeeper53,300 CZK-27%
Bookkeeping Specialist70,800 CZK-3%
Budget Analyst87,300 CZK+20%
Budget Manager122,000 CZK+68%
Business Support Analyst89,500 CZK+23%
Capital Markets Associate106,000 CZK+46%
Cash Flow Analyst109,000 CZK+50%
Cash Management Officer93,700 CZK+29%
Cashbook Clerk65,200 CZK-10%
Chartered Accountant91,400 CZK+26%
Collections Clerk53,000 CZK-27%
Collections Specialist69,100 CZK-5%
Corporate Treasurer183,000 CZK+150%
Cost Accountant87,100 CZK+20%
Cost Accounting Manager106,000 CZK+46%
Cost Analyst106,000 CZK+46%
Credit and Collection Manager118,000 CZK+62%
Credit and Collection Staff57,200 CZK-21%
Credit and Loans Officer57,000 CZK-22%
Credit Controller103,000 CZK+42%
Debt Adviser126,000 CZK+73%
Debt Collector94,100 CZK+29%
Debtors Clerk76,400 CZK+5%
Deputy CFO180,000 CZK+150%
Derivative Trader151,000 CZK+110%
Escrow Assistant82,200 CZK+13%
External Auditor106,000 CZK+46%
Finance Associate79,300 CZK+9%
Finance Executive170,000 CZK+130%
Finance Licensing Clerk67,900 CZK-7%
Finance Licensing Manager104,000 CZK+43%
Finance Licensing Specialist78,500 CZK+8%
Finance Officer117,000 CZK+61%
Finance President210,000 CZK+190%
Finance Relationship Manager138,000 CZK+90%
Finance Release Analyst93,900 CZK+29%
Finance Team Leader 108,000 CZK+48%
Financial Actuary103,000 CZK+42%
Financial Administrator88,200 CZK+21%
Financial Analyst107,000 CZK+47%
Financial Applications Specialist67,600 CZK-7%
Financial Assistant65,000 CZK-11%
Financial Associate79,000 CZK+9%
Financial Claims Analyst95,100 CZK+31%
Financial Claims Manager114,000 CZK+57%
Financial Commercial Analyst93,000 CZK+28%
Financial Compliance Analyst107,000 CZK+47%
Financial Consultant99,300 CZK+36%
Financial Controller95,300 CZK+31%
Financial Coordinator84,600 CZK+16%
Financial Customer Service Manager122,000 CZK+68%
Financial Dealer and Broker95,500 CZK+31%
Financial Encoder58,900 CZK-19%
Financial Manager200,000 CZK+170%
Financial Operations Manager152,000 CZK+110%
Financial Policy Analyst107,000 CZK+47%
Financial Project Manager94,900 CZK+30%
Financial Quantitative Analyst112,000 CZK+54%
Financial Reporting Consultant101,000 CZK+39%
Financial Reporting Manager130,000 CZK+79%
Financial Services Sales Agent93,600 CZK+29%
Fixed Assets Administrator85,400 CZK+17%
Forensic Accountant78,000 CZK+7%
Fraud Detection Supervisor101,000 CZK+39%
Fraud Prevention Manager147,000 CZK+100%
Fund Accountant72,300 CZK-1%
Grants Coordinator68,500 CZK-6%
Internal Auditor103,000 CZK+42%
Internal Control Adviser113,000 CZK+55%
Internal Control Officer91,200 CZK+25%
Inventory Accountant163,000 CZK+120%
Investment Analyst129,000 CZK+77%
Investment Fund Manager133,000 CZK+83%
Investment Underwriter63,200 CZK-13%
Investor102,000 CZK+40%
Investor Relations Manager130,000 CZK+79%
KYC Team Leader123,000 CZK+69%
Management Economist116,000 CZK+59%
Paymaster80,800 CZK+11%
Payroll Clerk59,400 CZK-18%
Payroll Manager107,000 CZK+47%
Pensions Administrator80,600 CZK+11%
Pricing Analyst116,000 CZK+59%
Private Equity Analyst109,000 CZK+50%
Proposal Development Coordinator79,300 CZK+9%
Receivables Accountant72,000 CZK-1%
Regulatory Accountant79,900 CZK+10%
Retirement Plan Analyst110,000 CZK+51%
Revenue Management Specialist88,600 CZK+22%
Revenue Recognition Analyst130,000 CZK+79%
Risk Management Director165,000 CZK+130%
Risk Management Supervisor121,000 CZK+66%
Tax Accountant75,500 CZK+4%
Tax Advisor103,000 CZK+42%
Tax Associate77,400 CZK+6%
Tax Manager154,000 CZK+110%
Teller48,800 CZK-33%
Treasury Accountant79,100 CZK+9%
Treasury Analyst113,000 CZK+55%
Underwriter58,700 CZK-19%
Underwriting Assistant56,900 CZK-22%
Vice President of Finance155,000 CZK+110%

Salary Comparison By City

CityAverage Salary
Prague80,200 CZK
61250 - 6

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