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Accountant Average Salary in Equatorial Guinea 2024

How much money does a person working as Accountant make in Equatorial Guinea?


Average Monthly Salary
328,000 XAF
( 3,930,000 XAF yearly)

LOW
161,000
XAF
AVERAGE
328,000
XAF
HIGH
511,000
XAF
All salary figures displayed here are per month 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 as Accountant in Equatorial Guinea typically earns around 328,000 XAF. Salaries range from 161,000 XAF (lowest) to 511,000 XAF (highest).


Salary Variance

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



Accountant Pay Scale and Salaries in Equatorial Guinea

Median and salary distribution Equatorial Guinea Accountant monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
304,000 XAF or more
10% of people earn
269,000 to 304,000 XAF
20% of people earn
191,000 XAF or less
65% of people earn
191,000 to 269,000 XAF
Minimum Salary
161,000 XAF
Median
306,000 XAF
Maximum
511,000 XAF




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

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

    Salaries for the position Accountant in Equatorial Guinea range from 161,000 XAF (starting salary) to 511,000 XAF (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.

  • Median Salary

    With a median salary of 306,000 XAF, half of the professionals who work as Accountant in Equatorial Guinea earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.

  • Percentiles and Salary Scale

    The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Accountant in Equatorial Guinea earn less than 250,000 XAF, while 75% earn more. Similarly, the chart shows that 75% earn less than 350,000 XAF while 25% earn more.

  • Pay Scale Structure

    To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Accountant in Equatorial Guinea compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 191,000 XAF to 269,000 XAF. About 20% of salaries are below the 191,000 XAF mark, while 10% fall within the range of 269,000 XAF to 304,000 XAF. Only 5% of individuals have salaries exceeding 304,000 XAF.

Salary Comparison by Years of Experience / Accountant / Equatorial Guinea

How do experience and age affect pay?

0 - 2 Years
190,000 XAF
2 - 5 Years+29%
245,000 XAF
5 - 10 Years+38%
338,000 XAF
10 - 15 Years+24%
418,000 XAF
15 - 20 Years+7%
448,000 XAF
20+ Years+7%
478,000 XAF
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Equatorial Guinea 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 the wage. We broke down salaries by experience level for people working as Accountant and this is what we found.


All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 190,000 XAF.

While someone with an experience level between two and five years is expected to earn 245,000 XAF, 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 338,000 XAF, 38% more than someone with two to five years of experience.

Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 418,000 XAF, 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 448,000 XAF, 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 478,000 XAF, 7% more than people with fifteen to twenty 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.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Salary Comparison By Education / Accountant / Equatorial Guinea

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Accountant.

High School
238,000 XAF
Certificate or Diploma+15%
273,000 XAF
Bachelor's Degree+35%
368,000 XAF
Master's Degree+26%
462,000 XAF
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Equatorial Guinea 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 salaries by education level for the position Accountant in order to make a comparison.


Level 1: High School

Employees at this education level have an average salary of 238,000 XAF.


Level 2: Certificate or Diploma

At this level, the average salary becomes 273,000 XAF, 15% more than the previous level.


Level 3: Bachelor's Degree

At this level, the average salary becomes 368,000 XAF, 35% more than the previous level.


Level 4: Master's Degree

At this level, the average salary becomes 462,000 XAF, 26% more than the previous level.



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 Equatorial Guinea costs anywhere from 2,400,000 XAF to 7,200,000 XAF 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 to a higher-paying job. The numbers seem to support the theory. 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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Salary and Compensation Comparison By Gender / Accountant / Equatorial Guinea

Salary comparison by gender Equatorial Guinea Accountant monthly
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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? For the people who work as Accountant in Equatorial Guinea, the average difference between the salary of male and female employees is 12%.

Male
342,000 XAF
Female-11%
306,000 XAF
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Equatorial Guinea for all Careers

Salary comparison by gender monthly Equatorial Guinea
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Average Annual Salary Increment Percentage / Accountant / Equatorial Guinea

How much are annual salary increments in Equatorial Guinea for individuals working as Accountant? How often do employees get salary raises?

Individuals working as Accountant in Equatorial Guinea are likely to observe a salary increase of approximately 8% every 27 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Equatorial Guinea 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.

Equatorial Guinea / All Professions

Annual Salary Increment Rate Equatorial Guinea
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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 Equatorial Guinea is 2%.

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 / Accountant / Equatorial Guinea

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Equatorial Guinea Accountant
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62% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 38% 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
38%
No Bonus
62%

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.

Average Hourly Wage / Accountant / Equatorial Guinea


1,890 XAF per hour

The average hourly wage (pay per hour) for individuals working as Accountant in Equatorial Guinea is 1,890 XAF.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 as Accountant in Equatorial Guinea is 930 XAF. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
Accounting and Finance-100%
Accountant328,000 XAF+0%
Accounting Assistant248,000 XAF-24%
Accounting Manager711,000 XAF+120%
Bookkeeper225,000 XAF-31%
Chartered Accountant434,000 XAF+32%
Corporate Treasurer607,000 XAF+85%
Financial Analyst600,000 XAF+83%
Financial Manager935,000 XAF+190%
Internal Auditor444,000 XAF+35%

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 Equatorial Guinea is 14% on average across all career fields.

Private Sector
456,000 XAF
Public Sector+14%
518,000 XAF
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 for the job title Accountant in Equatorial Guinea?

A good and competitive compensation would range anywhere between 306,000 XAF and 350,000 XAF. 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 a careers like Accountant in Equatorial Guinea ranges from 161,000 XAF to 250,000 XAF. 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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