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Accounting and Finance Average Salaries in Guatemala 2020

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


Average Monthly Salary
10,600 GTQ
( 128,000 GTQ yearly)

LOW
4,360
GTQ
AVERAGE
10,600
GTQ
HIGH
21,700
GTQ

A person working in Accounting and Finance in Guatemala typically earns around 10,600 GTQ per month. Salaries range from 4,360 GTQ (lowest average) to 21,700 GTQ (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 Examiner5,240 GTQ
Account Executive9,120 GTQ
Accountant6,710 GTQ
Accounting Assistant5,190 GTQ
Accounting Associate4,920 GTQ
Accounting Clerk4,280 GTQ
Accounting Coordinator6,290 GTQ
Accounting Manager15,600 GTQ
Accounting Supervisor10,200 GTQ
Accounting Technician5,170 GTQ
Accounts Executive9,080 GTQ
Accounts Payable and Receivable Specialist7,060 GTQ
Accounts Payable Clerk5,400 GTQ
Accounts Payable Manager14,200 GTQ
Accounts Receivable Clerk5,280 GTQ
Accounts Receivable Manager13,700 GTQ
Assistant Accounting Manager13,000 GTQ
Assistant Auditor7,130 GTQ
Audit Supervisor13,400 GTQ
Auditing Clerk5,770 GTQ
Auditing Manager14,600 GTQ
Billing Coordinator6,260 GTQ
Billing Specialist7,820 GTQ
Billing Supervisor10,400 GTQ
Bookkeeper4,430 GTQ
Bookkeeping Specialist7,050 GTQ
Budget Analyst12,600 GTQ
Budget Manager15,000 GTQ
Business Support Analyst8,050 GTQ
Capital Markets Associate10,300 GTQ
Cash Flow Analyst10,900 GTQ
Cash Management Officer8,080 GTQ
Cashbook Clerk4,580 GTQ
Chartered Accountant8,870 GTQ
Collections Clerk4,520 GTQ
Collections Specialist7,420 GTQ
Corporate Treasurer13,900 GTQ
Cost Accountant7,200 GTQ
Cost Accounting Manager14,300 GTQ
Cost Analyst11,400 GTQ
Credit and Collection Manager14,500 GTQ
Credit and Collection Staff5,430 GTQ
Credit and Loans Officer5,090 GTQ
Credit Controller9,330 GTQ
Debt Adviser11,500 GTQ
Debt Collector5,550 GTQ
Debtors Clerk4,880 GTQ
Deputy CFO19,500 GTQ
Derivative Trader12,700 GTQ
Escrow Assistant6,150 GTQ
External Auditor9,750 GTQ
Finance Associate6,290 GTQ
Finance Executive14,800 GTQ
Finance Licensing Clerk5,040 GTQ
Finance Licensing Manager13,200 GTQ
Finance Licensing Specialist7,390 GTQ
Finance Officer6,590 GTQ
Finance President21,800 GTQ
Finance Relationship Manager15,700 GTQ
Finance Release Analyst7,710 GTQ
Finance Team Leader 15,700 GTQ
Financial Actuary11,300 GTQ
Financial Administrator11,300 GTQ
Financial Analyst12,800 GTQ
Financial Applications Specialist8,420 GTQ
Financial Assistant5,930 GTQ
Financial Associate5,890 GTQ
Financial Claims Analyst9,290 GTQ
Financial Claims Manager12,100 GTQ
Financial Commercial Analyst9,910 GTQ
Financial Compliance Analyst11,900 GTQ
Financial Consultant9,320 GTQ
Financial Controller11,600 GTQ
Financial Coordinator6,410 GTQ
Financial Customer Service Manager12,600 GTQ
Financial Dealer and Broker7,790 GTQ
Financial Encoder5,770 GTQ
Financial Manager18,800 GTQ
Financial Operations Manager18,000 GTQ
Financial Policy Analyst11,100 GTQ
Financial Project Manager14,800 GTQ
Financial Quantitative Analyst12,400 GTQ
Financial Reporting Consultant10,100 GTQ
Financial Reporting Manager13,600 GTQ
Financial Services Sales Agent7,800 GTQ
Fixed Assets Administrator7,360 GTQ
Forensic Accountant7,910 GTQ
Fraud Detection Supervisor8,400 GTQ
Fraud Prevention Manager13,700 GTQ
Fund Accountant7,040 GTQ
Grants Coordinator5,060 GTQ
Internal Auditor9,200 GTQ
Internal Control Adviser10,700 GTQ
Internal Control Officer5,870 GTQ
Inventory Accountant7,180 GTQ
Investment Analyst14,200 GTQ
Investment Fund Manager16,300 GTQ
Investment Underwriter6,140 GTQ
Investor9,250 GTQ
Investor Relations Manager14,300 GTQ
KYC Team Leader13,100 GTQ
Management Economist16,500 GTQ
Paymaster5,540 GTQ
Payroll Clerk6,420 GTQ
Payroll Manager13,300 GTQ
Pensions Administrator7,500 GTQ
Pricing Analyst12,100 GTQ
Private Equity Analyst12,900 GTQ
Proposal Development Coordinator6,300 GTQ
Receivables Accountant6,450 GTQ
Regulatory Accountant7,780 GTQ
Retirement Plan Analyst10,900 GTQ
Revenue Management Specialist11,200 GTQ
Revenue Recognition Analyst13,500 GTQ
Risk Management Director16,600 GTQ
Risk Management Supervisor13,500 GTQ
Tax Accountant6,430 GTQ
Tax Advisor10,600 GTQ
Tax Associate5,710 GTQ
Tax Manager13,800 GTQ
Teller4,340 GTQ
Treasury Accountant7,370 GTQ
Treasury Analyst11,600 GTQ
Underwriter5,050 GTQ
Underwriting Assistant4,690 GTQ
Vice President of Finance18,700 GTQ

Accounting and Finance Jobs Salary Distribution in Guatemala

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

  • Salary Range

    Accounting and Finance salaries in Guatemala range from 4,360 GTQ per month (minimum average salary) to 21,700 GTQ per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 10,600 GTQ per month, which means that half (50%) of people working in Accounting and Finance are earning less than 10,600 GTQ while the other half are earning more than 10,600 GTQ. 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 6,750 GTQ while 75% of them are earning more than 6,750 GTQ. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 16,200 GTQ while 25% are earning more than 16,200 GTQ.


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 Guatemala costs anywhere from 52,400 Quetzal(s) to 157,000 Quetzal(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 Guatemala 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 Guatemala who work in Accounting and Finance earn 6% more than their female counterparts on average.

Male
10,900 GTQ
Female-6%
10,300 GTQ
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Guatemala for all Careers

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

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

Accounting and Finance

Accounting and Finance professionals in Guatemala are likely to observe a salary increase of approximately 9% every 17 months. The national average annual increment for all professions combined is 7% granted to employees every 19 months.

Annual Salary Increment Rate Guatemala 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.

Guatemala / 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 Guatemala is 4%.

Annual Increment Rate By Industry 2019

Banking
8%
Energy
7%
Information Technology
6%
Healthcare
5%
Travel
4%
Construction
3%
Education
2%

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

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

25% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 75% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 5% to 8% of their annual salary.

Received Bonus
75%
No Bonus
25%

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 Guatemala


61 GTQ per hour

The average hourly wage (pay per hour) in Guatemala is 61 GTQ. This means that the average person in Guatemala earns approximately 61 GTQ 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 Guatemala
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The average salary for Accounting and Finance is 2% more than that of All Jobs.

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 Guatemala earn 11% more than their private sector counterparts on average across all sectors.

Private Sector
10,000 GTQ
Public Sector+11%
11,100 GTQ
Percentage increase and decrease are relative to the previous value

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