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Accounting and Finance Average Salaries in Australia 2021

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


Average Yearly Salary
93,500 AUD
( 7,790 AUD monthly)

LOW
37,800
AUD
AVERAGE
93,500
AUD
HIGH
188,000
AUD

A person working in Accounting and Finance in Australia typically earns around 93,500 AUD per year. Salaries range from 37,800 AUD (lowest average) to 188,000 AUD (highest average, actual maximum salary is higher).

This is the average yearly 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 Examiner47,400 AUD
Account Executive86,000 AUD
Accountant66,100 AUD
Accounting Assistant52,400 AUD
Accounting Associate47,100 AUD
Accounting Clerk40,000 AUD
Accounting Coordinator56,900 AUD
Accounting Manager135,000 AUD
Accounting Supervisor92,500 AUD
Accounting Technician48,500 AUD
Accounts Executive80,200 AUD
Accounts Payable and Receivable Specialist64,700 AUD
Accounts Payable Clerk47,900 AUD
Accounts Payable Manager129,000 AUD
Accounts Receivable Clerk49,200 AUD
Accounts Receivable Manager130,000 AUD
Assistant Accounting Manager123,000 AUD
Assistant Auditor66,200 AUD
Audit Supervisor118,000 AUD
Auditing Clerk50,900 AUD
Auditing Manager142,000 AUD
Billing Coordinator59,700 AUD
Billing Specialist72,300 AUD
Billing Supervisor98,100 AUD
Bookkeeper42,800 AUD
Bookkeeping Specialist66,200 AUD
Budget Analyst113,000 AUD
Budget Manager137,000 AUD
Business Support Analyst74,700 AUD
Capital Markets Associate95,200 AUD
Cash Flow Analyst102,000 AUD
Cash Management Officer79,500 AUD
Cashbook Clerk45,700 AUD
Chartered Accountant81,000 AUD
Collections Clerk42,600 AUD
Collections Specialist69,200 AUD
Corporate Treasurer130,000 AUD
Cost Accountant64,700 AUD
Cost Accounting Manager136,000 AUD
Cost Analyst100,000 AUD
Credit and Collection Manager133,000 AUD
Credit and Collection Staff50,600 AUD
Credit and Loans Officer46,100 AUD
Credit Controller88,400 AUD
Debt Adviser113,000 AUD
Debt Collector55,500 AUD
Debtors Clerk46,400 AUD
Deputy CFO188,000 AUD
Derivative Trader115,000 AUD
Escrow Assistant58,500 AUD
External Auditor96,800 AUD
Finance Associate57,000 AUD
Finance Executive147,000 AUD
Finance Licensing Clerk47,500 AUD
Finance Licensing Manager127,000 AUD
Finance Licensing Specialist73,100 AUD
Finance Officer63,700 AUD
Finance President195,000 AUD
Finance Relationship Manager153,000 AUD
Finance Release Analyst74,600 AUD
Finance Team Leader 142,000 AUD
Financial Actuary99,200 AUD
Financial Administrator107,000 AUD
Financial Analyst122,000 AUD
Financial Applications Specialist80,100 AUD
Financial Assistant52,300 AUD
Financial Associate51,200 AUD
Financial Claims Analyst86,900 AUD
Financial Claims Manager116,000 AUD
Financial Commercial Analyst97,700 AUD
Financial Compliance Analyst105,000 AUD
Financial Consultant85,000 AUD
Financial Controller105,000 AUD
Financial Coordinator61,400 AUD
Financial Customer Service Manager120,000 AUD
Financial Dealer and Broker72,000 AUD
Financial Encoder53,500 AUD
Financial Manager176,000 AUD
Financial Manager193,000 AUD
Financial Operations Manager174,000 AUD
Financial Policy Analyst101,000 AUD
Financial Project Manager142,000 AUD
Financial Quantitative Analyst111,000 AUD
Financial Reporting Consultant92,000 AUD
Financial Reporting Manager125,000 AUD
Financial Services Sales Agent73,000 AUD
Fixed Assets Administrator71,100 AUD
Forensic Accountant77,400 AUD
Fraud Detection Supervisor81,800 AUD
Fraud Prevention Manager137,000 AUD
Fund Accountant65,100 AUD
Grants Coordinator48,500 AUD
Internal Auditor84,700 AUD
Internal Control Adviser104,000 AUD
Internal Control Officer58,600 AUD
Inventory Accountant69,400 AUD
Investment Analyst125,000 AUD
Investment Fund Manager147,000 AUD
Investment Underwriter56,600 AUD
Investor84,500 AUD
Investor Relations Manager133,000 AUD
KYC Team Leader132,000 AUD
Management Economist154,000 AUD
Paymaster54,600 AUD
Payroll Clerk60,300 AUD
Payroll Manager116,000 AUD
Pensions Administrator70,200 AUD
Pricing Analyst105,000 AUD
Private Equity Analyst112,000 AUD
Proposal Development Coordinator58,900 AUD
Receivables Accountant60,800 AUD
Regulatory Accountant73,600 AUD
Retirement Plan Analyst106,000 AUD
Revenue Management Specialist111,000 AUD
Revenue Recognition Analyst126,000 AUD
Risk Management Director163,000 AUD
Risk Management Supervisor136,000 AUD
Tax Accountant60,600 AUD
Tax Advisor97,200 AUD
Tax Associate55,200 AUD
Tax Manager128,000 AUD
Teller38,400 AUD
Treasury Accountant69,000 AUD
Treasury Analyst111,000 AUD
Underwriter48,200 AUD
Underwriting Assistant41,500 AUD
Vice President of Finance182,000 AUD

Accounting and Finance Jobs Salary Distribution in Australia

Median and salary distribution yearly Australia Accounting and Finance
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The median, the maximum, the minimum, and the range

  • Salary Range

    Accounting and Finance salaries in Australia range from 37,800 AUD per year (minimum average salary) to 188,000 AUD per year (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 97,300 AUD per year, which means that half (50%) of people working in Accounting and Finance are earning less than 97,300 AUD while the other half are earning more than 97,300 AUD. 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 60,800 AUD while 75% of them are earning more than 60,800 AUD. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 148,000 AUD while 25% are earning more than 148,000 AUD.


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 Australia costs anywhere from 37,800 Australian Dollar(s) to 114,000 Australian Dollar(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 yearly Australia 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 Australia who work in Accounting and Finance earn 5% more than their female counterparts on average.

Male
96,000 AUD
Female-5%
91,500 AUD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Australia for all Careers

Salary comparison by gender yearly Australia
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Accounting and Finance Average Annual Salary Increment Percentage in Australia

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

Accounting and Finance

Accounting and Finance professionals in Australia 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 Australia 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.

Australia / 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 Australia is 6%.

Annual Increment Rate By Industry 2020

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Listed above are the average annual increase rates for each industry in Australia for the year 2020. 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 Australia

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

19% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 81% 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
81%
No Bonus
19%

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 Australia


45 AUD per hour

The average hourly wage (pay per hour) in Australia is 45 AUD. This means that the average person in Australia earns approximately 45 AUD 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 yearly Australia
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The average salary for Accounting and Finance is 3% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Adelaide103,000 AUD
Brisbane107,000 AUD
Canberra-Queanbeyan99,400 AUD
Gold Coast-Tweed101,000 AUD
Gosford91,500 AUD
Melbourne109,000 AUD
Newcastle97,200 AUD
Perth105,000 AUD
Sunshine Coast95,500 AUD
Sydney111,000 AUD
Wollongong93,400 AUD

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 Australia earn 5% more than their private sector counterparts on average across all sectors.

Private Sector
88,600 AUD
Public Sector+5%
93,000 AUD
Percentage increase and decrease are relative to the previous value

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