HOME COMPARE YOUR SALARY COST OF LIVING CALCULATOR
Home
Compare Your Salary
Average Salaries
Best Paying Jobs
Salary Increase Letter
Career Articles
Cost of Living Calculator

Accounting and Finance Average Salaries in Germany 2020

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


Average Monthly Salary
11,500 EUR
( 138,000 EUR yearly)

LOW
5,260
EUR
AVERAGE
11,500
EUR
HIGH
24,400
EUR

A person working in Accounting and Finance in Germany typically earns around 11,500 EUR per month. Salaries range from 5,260 EUR (lowest average) to 24,400 EUR (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 Examiner7,230 EUR
Account Executive10,500 EUR
Accountant7,560 EUR
Accounting Assistant7,140 EUR
Accounting Associate7,310 EUR
Accounting Clerk5,650 EUR
Accounting Coordinator6,500 EUR
Accounting Manager15,300 EUR
Accounting Supervisor10,800 EUR
Accounting Technician6,770 EUR
Accounts Executive9,260 EUR
Accounts Payable and Receivable Specialist9,100 EUR
Accounts Payable Clerk5,880 EUR
Accounts Payable Manager11,700 EUR
Accounts Receivable Clerk6,070 EUR
Accounts Receivable Manager11,900 EUR
Assistant Accounting Manager9,170 EUR
Assistant Auditor8,760 EUR
Audit Supervisor14,300 EUR
Auditing Clerk7,210 EUR
Auditing Manager15,300 EUR
Billing Coordinator9,490 EUR
Billing Specialist9,200 EUR
Billing Supervisor11,100 EUR
Bookkeeper6,000 EUR
Bookkeeping Specialist7,740 EUR
Budget Analyst9,110 EUR
Budget Manager13,100 EUR
Business Support Analyst10,700 EUR
Capital Markets Associate11,400 EUR
Cash Flow Analyst10,800 EUR
Cash Management Officer10,800 EUR
Cashbook Clerk6,840 EUR
Chartered Accountant9,720 EUR
Collections Clerk5,820 EUR
Collections Specialist7,500 EUR
Corporate Treasurer19,800 EUR
Cost Accountant9,120 EUR
Cost Accounting Manager11,800 EUR
Cost Analyst10,900 EUR
Credit and Collection Manager12,600 EUR
Credit and Collection Staff6,210 EUR
Credit and Loans Officer6,640 EUR
Credit Controller10,300 EUR
Debt Adviser14,400 EUR
Debt Collector9,940 EUR
Debtors Clerk8,450 EUR
Deputy CFO20,200 EUR
Derivative Trader16,000 EUR
Escrow Assistant9,100 EUR
External Auditor11,100 EUR
Finance Associate8,360 EUR
Finance Executive17,800 EUR
Finance Licensing Clerk6,740 EUR
Finance Licensing Manager11,700 EUR
Finance Licensing Specialist9,050 EUR
Finance Officer13,200 EUR
Finance President21,800 EUR
Finance Relationship Manager15,800 EUR
Finance Release Analyst10,600 EUR
Finance Team Leader 12,500 EUR
Financial Actuary11,600 EUR
Financial Administrator9,640 EUR
Financial Analyst11,800 EUR
Financial Applications Specialist7,490 EUR
Financial Assistant6,660 EUR
Financial Associate8,000 EUR
Financial Claims Analyst10,400 EUR
Financial Claims Manager11,500 EUR
Financial Commercial Analyst9,660 EUR
Financial Compliance Analyst11,000 EUR
Financial Consultant10,600 EUR
Financial Controller11,100 EUR
Financial Coordinator9,450 EUR
Financial Customer Service Manager13,500 EUR
Financial Dealer and Broker10,300 EUR
Financial Encoder6,360 EUR
Financial Manager21,800 EUR
Financial Manager23,100 EUR
Financial Operations Manager15,500 EUR
Financial Policy Analyst11,400 EUR
Financial Project Manager10,600 EUR
Financial Quantitative Analyst12,800 EUR
Financial Reporting Consultant10,700 EUR
Financial Reporting Manager13,900 EUR
Financial Services Sales Agent10,200 EUR
Fixed Assets Administrator8,690 EUR
Forensic Accountant8,880 EUR
Fraud Detection Supervisor10,300 EUR
Fraud Prevention Manager15,500 EUR
Fund Accountant8,600 EUR
Grants Coordinator6,910 EUR
Internal Auditor12,200 EUR
Internal Control Adviser11,600 EUR
Internal Control Officer9,580 EUR
Inventory Accountant18,300 EUR
Investment Analyst14,600 EUR
Investment Fund Manager15,400 EUR
Investment Underwriter6,770 EUR
Investor10,800 EUR
Investor Relations Manager14,200 EUR
KYC Team Leader13,000 EUR
Management Economist12,600 EUR
Paymaster8,400 EUR
Payroll Clerk6,500 EUR
Payroll Manager10,800 EUR
Pensions Administrator8,780 EUR
Pricing Analyst11,800 EUR
Private Equity Analyst12,300 EUR
Proposal Development Coordinator8,640 EUR
Receivables Accountant7,150 EUR
Regulatory Accountant8,810 EUR
Retirement Plan Analyst11,300 EUR
Revenue Management Specialist9,310 EUR
Revenue Recognition Analyst14,100 EUR
Risk Management Director17,000 EUR
Risk Management Supervisor14,200 EUR
Tax Accountant8,290 EUR
Tax Advisor11,000 EUR
Tax Associate8,710 EUR
Tax Manager16,700 EUR
Teller5,030 EUR
Treasury Accountant8,610 EUR
Treasury Analyst11,400 EUR
Underwriter6,530 EUR
Underwriting Assistant5,850 EUR
Vice President of Finance15,900 EUR

Accounting and Finance Jobs Salary Distribution in Germany

Median and salary distribution monthly Germany Accounting and Finance
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/germany/accounting-and-finance/median-and-salary-distribution-monthly-germany-accounting-and-finance.jpg

The median, the maximum, the minimum, and the range

  • Salary Range

    Accounting and Finance salaries in Germany range from 5,260 EUR per month (minimum average salary) to 24,400 EUR per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 12,400 EUR per month, which means that half (50%) of people working in Accounting and Finance are earning less than 12,400 EUR while the other half are earning more than 12,400 EUR. 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 7,950 EUR while 75% of them are earning more than 7,950 EUR. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 19,900 EUR while 25% are earning more than 19,900 EUR.


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
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-by-experience.jpg

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
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-comparison-by-education.jpg

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 Germany costs anywhere from 59,400 Euro(s) to 178,000 Euro(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 Germany Accounting and Finance
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/germany/accounting-and-finance/salary-comparison-by-gender-monthly-germany-accounting-and-finance.jpg

Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees earn 7% more than their female counterparts.

Female
11,100 EUR
Male+7%
11,900 EUR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Germany for all Careers

Salary comparison by gender monthly Germany
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/germany/salary-comparison-by-gender-monthly-germany.jpg

Accounting and Finance Average Annual Salary Increment Percentage in Germany

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

Accounting and Finance

Accounting and Finance professionals in Germany are likely to observe a salary increase of approximately 10% every 14 months. The national average annual increment for all professions combined is 8% granted to employees every 16 months.

Annual Salary Increment Rate Germany Accounting and Finance
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/germany/accounting-and-finance/annual-salary-increment-rate-germany-accounting-and-finance.jpg


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.

Germany / All Professions

Annual Salary Increment Rate Germany
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/germany/annual-salary-increment-rate-germany.jpg

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 Germany is 6%.

Annual Increment Rate By Industry 2019

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

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

Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-increment-world.jpg

Accounting and Finance Bonus and Incentive Rates in Germany

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Germany Accounting and Finance
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/germany/accounting-and-finance/annual-salary-bonus-rate-germany-accounting-and-finance.jpg

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.

16% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 84% 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
84%
No Bonus
16%

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 Germany
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/germany/public-vs-private-sector-salaries-monthly-germany.jpg

Where can you get paid more, working for a private company or for the government? Public sector employees in Germany earn 5% more than their private sector counterparts.

Private Sector
11,600 EUR
Public Sector+5%
12,100 EUR
Percentage increase and decrease are relative to the previous value

Accounting and Finance Salary Forecast and Trend in Germany

How do Accounting and Finance salaries change over time? Listed below is a chart that shows the average salary in recent years.

Salary trends and forecast monthly Germany Accounting and Finance
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/germany/accounting-and-finance/salary-trends-and-forecast-monthly-germany-accounting-and-finance.jpg
Average Salary 2016
9,940 EUR
Average Salary 2017+4%
10,300 EUR
Average Salary 2018+4%
10,700 EUR
Average Salary 2019+4%
11,100 EUR
Percentage increase and decrease are relative to the previous value

Accounting and Finance salaries in Germany are rising in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 4% 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.

Accounting and Finance Hourly Average Wage in Germany


66 EUR per hour

The average hourly wage (pay per hour) in Germany is 66 EUR. This means that the average person in Germany earns approximately 66 EUR 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 Germany
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/germany/accounting-and-finance/salary-comparison-between-accounting-and-finance-and-accounting-and-finance-monthly-germany.jpg

The average salary for Accounting and Finance is 3% less than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Berlin13,100 EUR
Bremen11,400 EUR
Dortmund11,100 EUR
Dresden10,700 EUR
Dusseldorf12,000 EUR
Essen11,600 EUR
Frankfurt12,200 EUR
Hamburg12,900 EUR
Hannover10,400 EUR
Koln12,400 EUR
Leipzig10,900 EUR
Munchen12,700 EUR
Nurnberg10,200 EUR
Stuttgart11,800 EUR
4143 - 136

Cost of Living Calculator

Salary Calculator

Salary Increase Letters

Cost of Living Comparison

Career Articles

Best Paying Jobs
HomePrivacy PolicySalary Comparison

©Salary Explorer 2018