How much money does a person working in Accounting and Finance make in Norway?
Average Yearly Salary
635,000 NOK
( 52,900 NOK monthly)
LOW
255,000
NOK
AVERAGE
635,000
NOK
HIGH
1,270,000
NOK
All salary figures displayed here are per year except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.
A person working in Accounting and Finance in Norway typically earns around 635,000 NOK. Salaries range from 255,000 NOK (lowest average) to 1,270,000 NOK (highest average, actual maximum salary is higher).
Salary Variance
The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Accounting and Finance domain in Norway exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.
Salaries for specific jobs
Accounting and Finance | |
Account Examiner | 326,000 NOK |
Account Executive | 542,000 NOK |
Accountant | 425,000 NOK |
Accounting Analyst | 514,000 NOK |
|
Accounting Assistant | 320,000 NOK |
Accounting Associate | 294,000 NOK |
Accounting Clerk | 257,000 NOK |
Accounting Coordinator | 391,000 NOK |
Accounting Head | 858,000 NOK |
Accounting Manager | 911,000 NOK |
Accounting Officer | 329,000 NOK |
Accounting Specialist | 581,000 NOK |
Accounting Supervisor | 577,000 NOK |
Accounting Technician | 298,000 NOK |
Accounting Unit Controller | 744,000 NOK |
Accounts Executive | 525,000 NOK |
Accounts Officer | 323,000 NOK |
Accounts Payable and Receivable Specialist | 428,000 NOK |
Accounts Payable Assistant | 352,000 NOK |
Accounts Payable Associate | 396,000 NOK |
Accounts Payable Clerk | 307,000 NOK |
Accounts Payable Manager | 867,000 NOK |
Accounts Receivable Administrator | 651,000 NOK |
Accounts Receivable Clerk | 314,000 NOK |
Accounts Receivable Financial Analyst | 615,000 NOK |
Accounts Receivable Manager | 791,000 NOK |
Accounts Receivable Team Leader | 620,000 NOK |
Algorithmic Trading Specialist | 740,000 NOK |
Assistant Accountant | 336,000 NOK |
Assistant Accounting Manager | 756,000 NOK |
Assistant Auditor | 442,000 NOK |
Assistant Corporate Controller | 592,000 NOK |
Assistant Finance Manager | 861,000 NOK |
Assistant Financial Controller | 556,000 NOK |
Audit Director | 980,000 NOK |
Audit Supervisor | 751,000 NOK |
Auditing Clerk | 323,000 NOK |
Auditing Manager | 898,000 NOK |
Billing Clerk | 340,000 NOK |
Billing Coordinator | 391,000 NOK |
Billing Specialist | 470,000 NOK |
Billing Supervisor | 651,000 NOK |
Bookkeeper | 270,000 NOK |
Bookkeeping Specialist | 406,000 NOK |
Budget Analyst | 749,000 NOK |
Budget Manager | 864,000 NOK |
Business Support Analyst | 499,000 NOK |
Capital Markets Associate | 635,000 NOK |
Cash Flow Analyst | 608,000 NOK |
Cash Management Manager | 849,000 NOK |
Cash Management Officer | 474,000 NOK |
Cashbook Clerk | 283,000 NOK |
Chartered Accountant | 561,000 NOK |
Chief Accountant | 641,000 NOK |
Chief Financial Technology Officer | 908,000 NOK |
Collections Clerk | 249,000 NOK |
Collections Representative | 370,000 NOK |
Collections Specialist | 453,000 NOK |
Corporate Controller | 689,000 NOK |
Corporate Treasurer | 849,000 NOK |
Cost Accountant | 440,000 NOK |
Cost Accounting Manager | 850,000 NOK |
Cost Accounting Supervisor | 657,000 NOK |
Cost Analyst | 656,000 NOK |
Credit and Collection Manager | 838,000 NOK |
Credit and Collection Staff | 323,000 NOK |
Credit and Loans Officer | 316,000 NOK |
Credit Controller | 559,000 NOK |
Credit Manager | 878,000 NOK |
Debt Adviser | 717,000 NOK |
Debt Collector | 337,000 NOK |
Debtors Clerk | 295,000 NOK |
Debtors Controller | 329,000 NOK |
Deputy CFO | 1,180,000 NOK |
Deputy Head of Finance | 1,210,000 NOK |
Derivative Trader | 719,000 NOK |
Director of Finance | 1,300,000 NOK |
E-commerce Accountant | 458,000 NOK |
Economist | 1,020,000 NOK |
Equity Analyst | 783,000 NOK |
Escrow Assistant | 362,000 NOK |
Executive Accountant | 465,000 NOK |
External Auditor | 582,000 NOK |
Finance Administrator | 506,000 NOK |
Finance Analyst | 750,000 NOK |
Finance Associate | 363,000 NOK |
Finance Data Analyst | 683,000 NOK |
Finance Director | 1,310,000 NOK |
Finance Executive | 882,000 NOK |
Finance Licensing Clerk | 292,000 NOK |
Finance Licensing Manager | 823,000 NOK |
Finance Licensing Specialist | 449,000 NOK |
Finance Manager | 1,200,000 NOK |
Finance Officer | 411,000 NOK |
Finance President | 1,220,000 NOK |
Finance Relationship Manager | 954,000 NOK |
Finance Release Analyst | 469,000 NOK |
Finance Specialist | 681,000 NOK |
Finance Team Leader | 977,000 NOK |
Financial Accountant | 442,000 NOK |
Financial Actuary | 660,000 NOK |
Financial Administrator | 668,000 NOK |
Financial Advisor | 794,000 NOK |
Financial Analyst | 731,000 NOK |
Financial Applications Specialist | 535,000 NOK |
Financial Assistant | 332,000 NOK |
Financial Associate | 403,000 NOK |
Financial Associate | 330,000 NOK |
Financial Claims Analyst | 572,000 NOK |
Financial Claims Manager | 727,000 NOK |
Financial Claims Supervisor | 719,000 NOK |
Financial Clerk | 312,000 NOK |
Financial Commercial Analyst | 628,000 NOK |
Financial Compliance Analyst | 663,000 NOK |
Financial Compliance Officer | 644,000 NOK |
Financial Consultant | 589,000 NOK |
Financial Controller | 697,000 NOK |
Financial Controller | 667,000 NOK |
Financial Coordinator | 393,000 NOK |
Financial Customer Service Manager | 741,000 NOK |
Financial Data Scientist | 805,000 NOK |
Financial Dealer and Broker | 456,000 NOK |
Financial Director | 1,240,000 NOK |
Financial Encoder | 377,000 NOK |
Financial Manager | 1,170,000 NOK |
Financial Manager | 1,130,000 NOK |
Financial Modelling Analyst | 748,000 NOK |
Financial Operations Manager | 1,040,000 NOK |
Financial Policy Analyst | 649,000 NOK |
Financial Project Manager | 882,000 NOK |
Financial Quantitative Analyst | 748,000 NOK |
Financial Reporting Consultant | 603,000 NOK |
Financial Reporting Manager | 800,000 NOK |
Financial Section Head | 825,000 NOK |
Financial Services Manager | 1,130,000 NOK |
Financial Services Sales Agent | 445,000 NOK |
Financial Technology Consultant | 697,000 NOK |
Financial Wellness Coach | 875,000 NOK |
FinTech Analyst | 707,000 NOK |
Fixed Assets Administrator | 426,000 NOK |
Forensic Accountant | 481,000 NOK |
Fraud Detection Supervisor | 532,000 NOK |
Fraud Prevention Manager | 848,000 NOK |
Fund Accountant | 423,000 NOK |
Grants Coordinator | 303,000 NOK |
Green Finance Analyst | 664,000 NOK |
Group Financial Manager | 1,210,000 NOK |
Internal Auditor | 591,000 NOK |
Internal Control Adviser | 679,000 NOK |
Internal Control Officer | 362,000 NOK |
International Tax Director | 1,060,000 NOK |
Inventory Accountant | 448,000 NOK |
Investment Advisor | 1,140,000 NOK |
Investment Analyst | 810,000 NOK |
Investment Associate | 724,000 NOK |
Investment Broker | 732,000 NOK |
Investment Fund Manager | 926,000 NOK |
Investment Operations Manager | 937,000 NOK |
Investment Underwriter | 375,000 NOK |
Investor | 542,000 NOK |
Investor Relations Manager | 812,000 NOK |
KYC Team Leader | 809,000 NOK |
Loan Processor | 355,000 NOK |
Management Accountant | 485,000 NOK |
Management Economist | 941,000 NOK |
Paymaster | 351,000 NOK |
Payroll Administrator | 580,000 NOK |
Payroll Benefits Coordinator | 474,000 NOK |
Payroll Billing Manager | 754,000 NOK |
Payroll Clerk | 370,000 NOK |
Payroll Manager | 746,000 NOK |
Payroll Officer | 382,000 NOK |
Payroll Specialist | 440,000 NOK |
Payroll Supervisor | 554,000 NOK |
Pensions Administrator | 428,000 NOK |
Personal Financial Advisor | 651,000 NOK |
Pricing Analyst | 677,000 NOK |
Private Equity Analyst | 764,000 NOK |
Project Accountant | 445,000 NOK |
Proposal Development Coordinator | 359,000 NOK |
Quantitative Trader | 606,000 NOK |
Receivables Accountant | 373,000 NOK |
Regulatory Accountant | 443,000 NOK |
Retirement Plan Analyst | 689,000 NOK |
Revenue Management Specialist | 689,000 NOK |
Revenue Recognition Analyst | 780,000 NOK |
Risk Management Director | 991,000 NOK |
Risk Management Supervisor | 867,000 NOK |
Staff Accountant | 412,000 NOK |
Tax Accountant | 402,000 NOK |
Tax Administrator | 448,000 NOK |
Tax Advisor | 673,000 NOK |
Tax Analyst | 648,000 NOK |
Tax Associate | 348,000 NOK |
Tax Consultant | 649,000 NOK |
Tax Director | 1,000,000 NOK |
Tax Examiner | 451,000 NOK |
Tax Manager | 862,000 NOK |
Tax Research Manager | 829,000 NOK |
Teller | 258,000 NOK |
Treasury Accountant | 442,000 NOK |
Treasury Analyst | 674,000 NOK |
Underwriter | 300,000 NOK |
Underwriting Assistant | 271,000 NOK |
Vice President of Finance | 1,180,000 NOK |
Accounting and Finance Jobs Pay Scale and Salaries in Norway
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/norway/accounting-and-finance/median-and-salary-distribution-yearly-norway-accounting-and-finance.jpg Salary Structure and Pay Scale Comparison
5% of people earn
686,000 NOK or more
10% of people earn
581,000 to 686,000 NOK
20% of people earn
349,000 NOK or less
65% of people earn
349,000 to 581,000 NOK
Minimum Salary 255,000 NOK |
Median 601,000 NOK |
Maximum 1,270,000 NOK |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
All salary figures displayed here are per year except when noted otherwise.
Salary Range, Minimum Wage, and Starting Salary
Salaries in Accounting and Finance in Norway range from 255,000 NOK (starting average salary) to 1,270,000 NOK (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.
Median Salary
The median income in the field of Accounting and Finance is 601,000 NOK, implying that half of the workforce in Norway earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.
Percentiles and Salary Scale
Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Accounting and Finance in Norway earn less than 471,000 NOK, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 726,000 NOK, while 25% earn more than that.
Pay Scale Structure
Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Accounting and Finance in Norway. The analysis revealed that roughly 65% of all reported salaries fell within the range of 349,000 NOK to 581,000 NOK. Approximately 20% of salaries were below the 349,000 NOK mark, while 10% ranged from 581,000 NOK to 686,000 NOK. Only 5% of individuals earned a gross salary of 686,000 NOK or higher.
Salary Comparison by Years of Experience
How does a person's salary progress over time?
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 in Accounting and Finance in Norway 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.
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.
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.
“ On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark. ”
Salary Comparison By Education
How does the education level affect your salary?
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/images/salary-comparison-by-education.jpg 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.
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 degree levels across many jobs in Accounting and Finance in Norway, below are our findings.
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 certificate 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 Norway costs anywhere from 256,000 NOK to 768,000 NOK and lasts approximately two years. That is quite an investment.
Employees can't expect any salary increases during the study period, assuming they 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 to 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 the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.
Salary and Compensation Comparison By Gender / Accounting and Finance / Norway
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/norway/accounting-and-finance/salary-comparison-by-gender-yearly-norway-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? In the field of Accounting and Finance in Norway, the average difference between the salary of male and female employees is 4%.
Male | | 648,000 NOK |
Female | -4% | 622,000 NOK |
Percentage increase and decrease are relative to the previous value
Salary Comparison By Gender in Norway for all Careers
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/norway/salary-comparison-by-gender-yearly-norway.jpg
Average Annual Salary Increment Percentage / Accounting and Finance / Norway
How much are annual salary increments in Norway for individuals working in Accounting and Finance? How often do employees get salary raises?
Professionals working in Accounting and Finance in Norway are likely to observe a salary increase of approximately 11% every 13 months. The national average annual increment for all professions combined is 9% granted to employees every 15 months.
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/norway/accounting-and-finance/annual-salary-increment-rate-norway-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.
Norway / All Professions
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/norway/annual-salary-increment-rate-norway.jpg The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare 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 Norway is 7%.”
Worldwide Salary Raises: All Countries and All Jobs
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/images/salary-increment-world.jpg Salary Packages and Schemes
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
Bonus and Incentive Rates / Accounting and Finance / Norway
How much and how often are bonuses being awarded?Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/norway/accounting-and-finance/annual-salary-bonus-rate-norway-accounting-and-finance.jpg
17% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 83% 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 | | 83% |
No Bonus | | 17% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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 Generators | Supporting 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.
Hourly Average Wage / Accounting and Finance / Norway
310 NOK
per hour The average hourly wage (pay per hour) in Accounting and Finance in Norway is 310 NOK.This is the rate they get paid for every worked hour.
Hourly Wage = Annual Salary / ( 52 x 5 x 8 )
About The Hourly Pay Rate
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 fixed 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.
What is the minimum hourly rate of pay?
The minimum pay rate per hour for people working in Accounting and Finance in Norway is 120 NOK. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Salary Comparison By City
Government vs Private Sector Salary Comparison
Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Norway is 5% on average across all career fields.
Private Sector | | 598,000 NOK |
Public Sector | +5% | 631,000 NOK |
Percentage increase and decrease are relative to the previous value
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary in Accounting and Finance in Norway?
A good and competitive compensation would range anywhere between 601,000 NOK and 726,000 NOK. This is a very rough estimate. Experience and education play a very huge part in the final earnings.
Gross Salary (before tax) and Net Salary (after tax)
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.
Base / Basic Salary
The base salary for jobs in Accounting and Finance in Norway ranges from 255,000 NOK to 471,000 NOK. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.
What is the difference between the median and the average salary?
Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn 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