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Accounting and Finance Average Salaries in Ethiopia 2020

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


Average Monthly Salary
9,160 ETB
( 110,000 ETB yearly)

LOW
3,710
ETB
AVERAGE
9,160
ETB
HIGH
18,400
ETB

A person working in Accounting and Finance in Ethiopia typically earns around 9,160 ETB per month. Salaries range from 3,710 ETB (lowest average) to 18,400 ETB (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 Examiner4,360 ETB
Account Executive7,590 ETB
Accountant6,050 ETB
Accounting Assistant4,590 ETB
Accounting Associate4,610 ETB
Accounting Clerk3,700 ETB
Accounting Coordinator5,230 ETB
Accounting Manager13,200 ETB
Accounting Supervisor8,290 ETB
Accounting Technician4,390 ETB
Accounts Executive7,710 ETB
Accounts Payable and Receivable Specialist6,110 ETB
Accounts Payable Clerk4,490 ETB
Accounts Payable Manager11,600 ETB
Accounts Receivable Clerk4,670 ETB
Accounts Receivable Manager11,800 ETB
Assistant Accounting Manager12,000 ETB
Assistant Auditor5,810 ETB
Audit Supervisor11,600 ETB
Auditing Clerk5,000 ETB
Auditing Manager12,900 ETB
Billing Coordinator5,420 ETB
Billing Specialist6,520 ETB
Billing Supervisor9,570 ETB
Bookkeeper4,000 ETB
Bookkeeping Specialist5,990 ETB
Budget Analyst10,100 ETB
Budget Manager13,000 ETB
Business Support Analyst6,560 ETB
Capital Markets Associate9,480 ETB
Cash Flow Analyst9,220 ETB
Cash Management Officer7,280 ETB
Cashbook Clerk4,300 ETB
Chartered Accountant7,840 ETB
Collections Clerk3,760 ETB
Collections Specialist5,930 ETB
Corporate Treasurer11,100 ETB
Cost Accountant6,230 ETB
Cost Accounting Manager12,400 ETB
Cost Analyst9,640 ETB
Credit and Collection Manager12,600 ETB
Credit and Collection Staff4,800 ETB
Credit and Loans Officer4,230 ETB
Credit Controller8,420 ETB
Debt Adviser9,770 ETB
Debt Collector5,100 ETB
Debtors Clerk4,310 ETB
Deputy CFO16,200 ETB
Derivative Trader10,300 ETB
Escrow Assistant5,440 ETB
External Auditor8,450 ETB
Finance Associate5,240 ETB
Finance Executive12,800 ETB
Finance Licensing Clerk4,630 ETB
Finance Licensing Manager11,900 ETB
Finance Licensing Specialist6,530 ETB
Finance Officer5,950 ETB
Finance President17,800 ETB
Finance Relationship Manager14,700 ETB
Finance Release Analyst6,960 ETB
Finance Team Leader 13,100 ETB
Financial Actuary9,040 ETB
Financial Administrator10,600 ETB
Financial Analyst11,600 ETB
Financial Applications Specialist7,440 ETB
Financial Assistant5,130 ETB
Financial Associate4,900 ETB
Financial Claims Analyst8,040 ETB
Financial Claims Manager11,400 ETB
Financial Commercial Analyst8,940 ETB
Financial Compliance Analyst10,300 ETB
Financial Consultant8,230 ETB
Financial Controller9,830 ETB
Financial Coordinator5,440 ETB
Financial Customer Service Manager11,100 ETB
Financial Dealer and Broker6,480 ETB
Financial Encoder5,210 ETB
Financial Manager16,300 ETB
Financial Operations Manager16,200 ETB
Financial Policy Analyst9,780 ETB
Financial Project Manager12,900 ETB
Financial Quantitative Analyst10,100 ETB
Financial Reporting Consultant9,120 ETB
Financial Reporting Manager12,100 ETB
Financial Services Sales Agent6,760 ETB
Fixed Assets Administrator6,630 ETB
Forensic Accountant7,430 ETB
Fraud Detection Supervisor7,270 ETB
Fraud Prevention Manager12,900 ETB
Fund Accountant5,860 ETB
Grants Coordinator4,750 ETB
Internal Auditor7,810 ETB
Internal Control Adviser9,280 ETB
Internal Control Officer5,510 ETB
Inventory Accountant6,470 ETB
Investment Analyst12,600 ETB
Investment Fund Manager14,100 ETB
Investment Underwriter5,220 ETB
Investor8,170 ETB
Investor Relations Manager12,300 ETB
KYC Team Leader11,600 ETB
Management Economist14,300 ETB
Paymaster5,000 ETB
Payroll Clerk5,460 ETB
Payroll Manager11,100 ETB
Pensions Administrator6,500 ETB
Pricing Analyst10,100 ETB
Private Equity Analyst10,500 ETB
Proposal Development Coordinator5,460 ETB
Receivables Accountant5,920 ETB
Regulatory Accountant7,010 ETB
Retirement Plan Analyst9,400 ETB
Revenue Management Specialist10,500 ETB
Revenue Recognition Analyst11,000 ETB
Risk Management Director15,200 ETB
Risk Management Supervisor12,200 ETB
Tax Accountant5,920 ETB
Tax Advisor9,410 ETB
Tax Associate5,160 ETB
Tax Manager12,200 ETB
Teller3,690 ETB
Treasury Accountant6,390 ETB
Treasury Analyst10,100 ETB
Underwriter4,370 ETB
Underwriting Assistant3,980 ETB
Vice President of Finance16,200 ETB

Accounting and Finance Jobs Salary Distribution in Ethiopia

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

  • Salary Range

    Accounting and Finance salaries in Ethiopia range from 3,710 ETB per month (minimum average salary) to 18,400 ETB per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 9,350 ETB per month, which means that half (50%) of people working in Accounting and Finance are earning less than 9,350 ETB while the other half are earning more than 9,350 ETB. 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 5,870 ETB while 75% of them are earning more than 5,870 ETB. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 14,200 ETB while 25% are earning more than 14,200 ETB.


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 Ethiopia costs anywhere from 44,500 Ethiopian Birr(s) to 133,000 Ethiopian Birr(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 Ethiopia 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 Ethiopia who work in Accounting and Finance earn 11% more than their female counterparts on average.

Male
9,550 ETB
Female-10%
8,580 ETB
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Ethiopia for all Careers

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

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

Accounting and Finance

Accounting and Finance professionals in Ethiopia are likely to observe a salary increase of approximately 6% every 27 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Ethiopia 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.

Ethiopia / 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 Ethiopia is 2%.

Annual Increment Rate By Industry 2019

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

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

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

39% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 61% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.

Received Bonus
61%
No Bonus
39%

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.

Accounting and Finance Hourly Average Wage in Ethiopia


53 ETB per hour

The average hourly wage (pay per hour) in Ethiopia is 53 ETB. This means that the average person in Ethiopia earns approximately 53 ETB 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 Ethiopia
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The average salary for Accounting and Finance is 3% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Adis Abeba9,660 ETB
Gonder8,910 ETB
Mekele7,930 ETB

Government vs Private Sector Salary Comparison

Where can you get paid more, working for a private company or for the government? Public sector employees in Ethiopia earn 14% more than their private sector counterparts on average across all sectors.

Private Sector
8,190 ETB
Public Sector+14%
9,340 ETB
Percentage increase and decrease are relative to the previous value

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