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Accounting and Finance Average Salaries in Greece 2020

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


Average Monthly Salary
2,470 EUR
( 29,600 EUR yearly)

LOW
1,010
EUR
AVERAGE
2,470
EUR
HIGH
5,030
EUR

A person working in Accounting and Finance in Greece typically earns around 2,470 EUR per month. Salaries range from 1,010 EUR (lowest average) to 5,030 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 Examiner1,270 EUR
Account Executive2,050 EUR
Accountant1,580 EUR
Accounting Assistant1,220 EUR
Accounting Associate1,230 EUR
Accounting Clerk1,000 EUR
Accounting Coordinator1,530 EUR
Accounting Manager3,620 EUR
Accounting Supervisor2,280 EUR
Accounting Technician1,170 EUR
Accounts Executive2,000 EUR
Accounts Payable and Receivable Specialist1,730 EUR
Accounts Payable Clerk1,250 EUR
Accounts Payable Manager3,260 EUR
Accounts Receivable Clerk1,210 EUR
Accounts Receivable Manager3,110 EUR
Assistant Accounting Manager3,010 EUR
Assistant Auditor1,680 EUR
Audit Supervisor2,980 EUR
Auditing Clerk1,280 EUR
Auditing Manager3,520 EUR
Billing Coordinator1,460 EUR
Billing Specialist1,680 EUR
Billing Supervisor2,460 EUR
Bookkeeper1,040 EUR
Bookkeeping Specialist1,600 EUR
Budget Analyst2,970 EUR
Budget Manager3,500 EUR
Business Support Analyst1,900 EUR
Capital Markets Associate2,380 EUR
Cash Flow Analyst2,520 EUR
Cash Management Officer1,860 EUR
Cashbook Clerk1,090 EUR
Chartered Accountant2,030 EUR
Collections Clerk990 EUR
Collections Specialist1,660 EUR
Corporate Treasurer3,110 EUR
Cost Accountant1,680 EUR
Cost Accounting Manager3,170 EUR
Cost Analyst2,500 EUR
Credit and Collection Manager3,390 EUR
Credit and Collection Staff1,240 EUR
Credit and Loans Officer1,240 EUR
Credit Controller2,370 EUR
Debt Adviser2,600 EUR
Debt Collector1,380 EUR
Debtors Clerk1,140 EUR
Deputy CFO4,510 EUR
Derivative Trader2,840 EUR
Escrow Assistant1,480 EUR
External Auditor2,330 EUR
Finance Associate1,490 EUR
Finance Executive3,540 EUR
Finance Licensing Clerk1,160 EUR
Finance Licensing Manager3,030 EUR
Finance Licensing Specialist1,870 EUR
Finance Officer1,520 EUR
Finance President4,780 EUR
Finance Relationship Manager3,640 EUR
Finance Release Analyst1,820 EUR
Finance Team Leader 3,810 EUR
Financial Actuary2,590 EUR
Financial Administrator2,770 EUR
Financial Analyst3,100 EUR
Financial Applications Specialist2,080 EUR
Financial Assistant1,320 EUR
Financial Associate1,330 EUR
Financial Claims Analyst2,110 EUR
Financial Claims Manager3,040 EUR
Financial Commercial Analyst2,340 EUR
Financial Compliance Analyst2,630 EUR
Financial Consultant2,130 EUR
Financial Controller2,560 EUR
Financial Coordinator1,560 EUR
Financial Customer Service Manager3,030 EUR
Financial Dealer and Broker1,710 EUR
Financial Encoder1,430 EUR
Financial Manager4,800 EUR
Financial Manager4,390 EUR
Financial Operations Manager4,040 EUR
Financial Policy Analyst2,470 EUR
Financial Project Manager3,290 EUR
Financial Quantitative Analyst2,780 EUR
Financial Reporting Consultant2,380 EUR
Financial Reporting Manager3,040 EUR
Financial Services Sales Agent1,730 EUR
Fixed Assets Administrator1,650 EUR
Forensic Accountant1,840 EUR
Fraud Detection Supervisor2,010 EUR
Fraud Prevention Manager3,270 EUR
Fund Accountant1,510 EUR
Grants Coordinator1,270 EUR
Internal Auditor2,190 EUR
Internal Control Adviser2,560 EUR
Internal Control Officer1,400 EUR
Inventory Accountant1,650 EUR
Investment Analyst3,340 EUR
Investment Fund Manager3,710 EUR
Investment Underwriter1,390 EUR
Investor2,060 EUR
Investor Relations Manager3,160 EUR
KYC Team Leader3,080 EUR
Management Economist3,660 EUR
Paymaster1,310 EUR
Payroll Clerk1,460 EUR
Payroll Manager3,000 EUR
Pensions Administrator1,660 EUR
Pricing Analyst2,720 EUR
Private Equity Analyst2,810 EUR
Proposal Development Coordinator1,400 EUR
Receivables Accountant1,490 EUR
Regulatory Accountant1,880 EUR
Retirement Plan Analyst2,600 EUR
Revenue Management Specialist2,660 EUR
Revenue Recognition Analyst3,110 EUR
Risk Management Director4,030 EUR
Risk Management Supervisor3,260 EUR
Tax Accountant1,520 EUR
Tax Advisor2,430 EUR
Tax Associate1,350 EUR
Tax Manager3,310 EUR
Teller930 EUR
Treasury Accountant1,720 EUR
Treasury Analyst2,650 EUR
Underwriter1,120 EUR
Underwriting Assistant1,040 EUR
Vice President of Finance4,470 EUR

Accounting and Finance Jobs Salary Distribution in Greece

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

  • Salary Range

    Accounting and Finance salaries in Greece range from 1,010 EUR per month (minimum average salary) to 5,030 EUR per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 2,370 EUR per month, which means that half (50%) of people working in Accounting and Finance are earning less than 2,370 EUR while the other half are earning more than 2,370 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 1,520 EUR while 75% of them are earning more than 1,520 EUR. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 3,550 EUR while 25% are earning more than 3,550 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
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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 Greece costs anywhere from 12,200 Euro(s) to 36,500 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 Greece 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 Greece who work in Accounting and Finance earn 9% more than their female counterparts on average.

Female
2,380 EUR
Male+9%
2,600 EUR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Greece for all Careers

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

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

Accounting and Finance

Accounting and Finance professionals in Greece are likely to observe a salary increase of approximately 11% every 14 months. The national average annual increment for all professions combined is 9% granted to employees every 16 months.

Annual Salary Increment Rate Greece 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.

Greece / 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 Greece is 7%.

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 Greece 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 Greece

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

24% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 76% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 8% of their annual salary.

Received Bonus
76%
No Bonus
24%

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 Greece
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Where can you get paid more, working for a private company or for the government? Public sector employees in Greece earn 6% more than their private sector counterparts on average across all sectors.

Private Sector
2,370 EUR
Public Sector+6%
2,520 EUR
Percentage increase and decrease are relative to the previous value

Accounting and Finance Hourly Average Wage in Greece


14 EUR per hour

The average hourly wage (pay per hour) in Greece is 14 EUR. This means that the average person in Greece earns approximately 14 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 Greece
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The average salary for Accounting and Finance is 2% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Athens2,510 EUR
1911 - 24

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