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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
8,180 GTQ
( 98,100 GTQ yearly)

LOW
3,740
GTQ
AVERAGE
8,180
GTQ
HIGH
17,400
GTQ

A person working in Accounting and Finance in Guatemala typically earns around 8,180 GTQ per month. Salaries range from 3,740 GTQ (lowest average) to 17,400 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 Examiner4,890 GTQ
Account Executive7,700 GTQ
Accountant5,250 GTQ
Accounting Assistant5,000 GTQ
Accounting Associate5,210 GTQ
Accounting Clerk3,990 GTQ
Accounting Coordinator4,390 GTQ
Accounting Manager10,900 GTQ
Accounting Supervisor7,820 GTQ
Accounting Technician5,120 GTQ
Accounts Executive6,860 GTQ
Accounts Payable and Receivable Specialist6,170 GTQ
Accounts Payable Clerk4,220 GTQ
Accounts Payable Manager8,440 GTQ
Accounts Receivable Clerk4,430 GTQ
Accounts Receivable Manager8,760 GTQ
Assistant Accounting Manager6,720 GTQ
Assistant Auditor5,970 GTQ
Audit Supervisor10,900 GTQ
Auditing Clerk5,510 GTQ
Auditing Manager11,000 GTQ
Billing Coordinator6,310 GTQ
Billing Specialist6,470 GTQ
Billing Supervisor7,320 GTQ
Bookkeeper4,000 GTQ
Bookkeeping Specialist5,850 GTQ
Budget Analyst6,770 GTQ
Budget Manager9,790 GTQ
Business Support Analyst7,290 GTQ
Capital Markets Associate8,030 GTQ
Cash Flow Analyst8,150 GTQ
Cash Management Officer7,480 GTQ
Cashbook Clerk4,770 GTQ
Chartered Accountant6,800 GTQ
Collections Clerk4,260 GTQ
Collections Specialist5,460 GTQ
Corporate Treasurer14,400 GTQ
Cost Accountant6,570 GTQ
Cost Accounting Manager8,670 GTQ
Cost Analyst8,070 GTQ
Credit and Collection Manager9,480 GTQ
Credit and Collection Staff4,530 GTQ
Credit and Loans Officer4,490 GTQ
Credit Controller7,270 GTQ
Debt Adviser9,640 GTQ
Debt Collector6,710 GTQ
Debtors Clerk5,810 GTQ
Deputy CFO13,900 GTQ
Derivative Trader11,600 GTQ
Escrow Assistant6,250 GTQ
External Auditor7,980 GTQ
Finance Associate6,240 GTQ
Finance Executive12,800 GTQ
Finance Licensing Clerk4,940 GTQ
Finance Licensing Manager7,820 GTQ
Finance Licensing Specialist6,090 GTQ
Finance Officer8,790 GTQ
Finance President16,800 GTQ
Finance Relationship Manager10,500 GTQ
Finance Release Analyst7,050 GTQ
Finance Team Leader 8,480 GTQ
Financial Actuary8,260 GTQ
Financial Administrator6,590 GTQ
Financial Analyst8,360 GTQ
Financial Applications Specialist5,140 GTQ
Financial Assistant5,100 GTQ
Financial Associate6,100 GTQ
Financial Claims Analyst7,310 GTQ
Financial Claims Manager8,190 GTQ
Financial Commercial Analyst6,710 GTQ
Financial Compliance Analyst8,420 GTQ
Financial Consultant7,400 GTQ
Financial Controller7,720 GTQ
Financial Coordinator6,730 GTQ
Financial Customer Service Manager9,270 GTQ
Financial Dealer and Broker7,230 GTQ
Financial Encoder4,330 GTQ
Financial Manager15,400 GTQ
Financial Operations Manager11,400 GTQ
Financial Policy Analyst7,990 GTQ
Financial Project Manager7,750 GTQ
Financial Quantitative Analyst8,890 GTQ
Financial Reporting Consultant7,740 GTQ
Financial Reporting Manager9,710 GTQ
Financial Services Sales Agent7,200 GTQ
Fixed Assets Administrator6,410 GTQ
Forensic Accountant5,950 GTQ
Fraud Detection Supervisor7,140 GTQ
Fraud Prevention Manager10,800 GTQ
Fund Accountant6,050 GTQ
Grants Coordinator4,920 GTQ
Internal Auditor7,990 GTQ
Internal Control Adviser8,010 GTQ
Internal Control Officer6,680 GTQ
Inventory Accountant12,200 GTQ
Investment Analyst10,400 GTQ
Investment Fund Manager11,100 GTQ
Investment Underwriter4,920 GTQ
Investor7,580 GTQ
Investor Relations Manager10,000 GTQ
KYC Team Leader9,130 GTQ
Management Economist8,900 GTQ
Paymaster5,830 GTQ
Payroll Clerk4,910 GTQ
Payroll Manager8,260 GTQ
Pensions Administrator6,200 GTQ
Pricing Analyst8,990 GTQ
Private Equity Analyst9,040 GTQ
Proposal Development Coordinator6,100 GTQ
Receivables Accountant5,240 GTQ
Regulatory Accountant6,240 GTQ
Retirement Plan Analyst7,820 GTQ
Revenue Management Specialist6,490 GTQ
Revenue Recognition Analyst10,600 GTQ
Risk Management Director12,200 GTQ
Risk Management Supervisor9,280 GTQ
Tax Accountant5,490 GTQ
Tax Advisor7,690 GTQ
Tax Associate5,810 GTQ
Tax Manager11,000 GTQ
Teller3,720 GTQ
Treasury Accountant6,080 GTQ
Treasury Analyst8,360 GTQ
Underwriter4,790 GTQ
Underwriting Assistant4,340 GTQ
Vice President of Finance11,000 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 3,740 GTQ per month (minimum average salary) to 17,400 GTQ per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 8,180 GTQ per month, which means that half (50%) of people working in Accounting and Finance are earning less than 8,180 GTQ while the other half are earning more than 8,180 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 5,360 GTQ while 75% of them are earning more than 5,360 GTQ. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 12,800 GTQ while 25% are earning more than 12,800 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 42,200 Quetzal(s) to 127,000 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 earn 7% more than their female counterparts.

Female
7,840 GTQ
Male+7%
8,430 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

Annual Salary Increment Rate Guatemala
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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.

Government vs Private Sector Salary Comparison

Public vs private sector salaries monthly Guatemala
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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.

Private Sector
8,060 GTQ
Public Sector+11%
8,920 GTQ
Percentage increase and decrease are relative to the previous value

Accounting and Finance Salary Forecast and Trend in Guatemala

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 Guatemala Accounting and Finance
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Average Salary 2016
7,390 GTQ
Average Salary 2017+4%
7,660 GTQ
Average Salary 2018+3%
7,850 GTQ
Average Salary 2019+1%
7,960 GTQ
Percentage increase and decrease are relative to the previous value

Accounting and Finance salaries in Guatemala are rising in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 1% 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 Guatemala


47 GTQ per hour

The average hourly wage (pay per hour) in Guatemala is 47 GTQ. This means that the average person in Guatemala earns approximately 47 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 3% less than that of All Jobs.

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