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Accounting and Finance Average Salaries in Guyana 2021

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


Average Monthly Salary
180,000 GYD
( 2,170,000 GYD yearly)

LOW
73,000
GYD
AVERAGE
180,000
GYD
HIGH
362,000
GYD

A person working in Accounting and Finance in Guyana typically earns around 180,000 GYD per month. Salaries range from 73,000 GYD (lowest average) to 362,000 GYD (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 Examiner89,800 GYD
Account Executive147,000 GYD
Accountant111,000 GYD
Accounting Assistant86,100 GYD
Accounting Associate82,300 GYD
Accounting Clerk71,300 GYD
Accounting Coordinator108,000 GYD
Accounting Manager261,000 GYD
Accounting Supervisor155,000 GYD
Accounting Technician84,800 GYD
Accounts Executive155,000 GYD
Accounts Payable and Receivable Specialist115,000 GYD
Accounts Payable Clerk90,700 GYD
Accounts Payable Manager239,000 GYD
Accounts Receivable Clerk89,400 GYD
Accounts Receivable Manager232,000 GYD
Assistant Accounting Manager210,000 GYD
Assistant Auditor123,000 GYD
Audit Supervisor211,000 GYD
Auditing Clerk90,700 GYD
Auditing Manager233,000 GYD
Billing Coordinator106,000 GYD
Billing Specialist124,000 GYD
Billing Supervisor186,000 GYD
Bookkeeper79,400 GYD
Bookkeeping Specialist116,000 GYD
Budget Analyst206,000 GYD
Budget Manager245,000 GYD
Business Support Analyst138,000 GYD
Capital Markets Associate180,000 GYD
Cash Flow Analyst178,000 GYD
Cash Management Officer134,000 GYD
Cashbook Clerk79,800 GYD
Chartered Accountant147,000 GYD
Collections Clerk72,900 GYD
Collections Specialist126,000 GYD
Corporate Treasurer236,000 GYD
Cost Accountant115,000 GYD
Cost Accounting Manager243,000 GYD
Cost Analyst194,000 GYD
Credit and Collection Manager237,000 GYD
Credit and Collection Staff92,000 GYD
Credit and Loans Officer87,200 GYD
Credit Controller164,000 GYD
Debt Adviser197,000 GYD
Debt Collector95,100 GYD
Debtors Clerk84,300 GYD
Deputy CFO321,000 GYD
Derivative Trader193,000 GYD
Escrow Assistant106,000 GYD
External Auditor172,000 GYD
Finance Associate97,500 GYD
Finance Executive261,000 GYD
Finance Licensing Clerk81,300 GYD
Finance Licensing Manager236,000 GYD
Finance Licensing Specialist133,000 GYD
Finance Officer118,000 GYD
Finance President361,000 GYD
Finance Relationship Manager268,000 GYD
Finance Release Analyst138,000 GYD
Finance Team Leader 269,000 GYD
Financial Actuary180,000 GYD
Financial Administrator186,000 GYD
Financial Analyst204,000 GYD
Financial Applications Specialist146,000 GYD
Financial Assistant93,100 GYD
Financial Associate97,000 GYD
Financial Claims Analyst155,000 GYD
Financial Claims Manager203,000 GYD
Financial Commercial Analyst164,000 GYD
Financial Compliance Analyst186,000 GYD
Financial Consultant155,000 GYD
Financial Controller182,000 GYD
Financial Coordinator107,000 GYD
Financial Customer Service Manager218,000 GYD
Financial Dealer and Broker123,000 GYD
Financial Encoder99,400 GYD
Financial Manager314,000 GYD
Financial Operations Manager292,000 GYD
Financial Policy Analyst184,000 GYD
Financial Project Manager252,000 GYD
Financial Quantitative Analyst205,000 GYD
Financial Reporting Consultant171,000 GYD
Financial Reporting Manager227,000 GYD
Financial Services Sales Agent130,000 GYD
Fixed Assets Administrator119,000 GYD
Forensic Accountant135,000 GYD
Fraud Detection Supervisor146,000 GYD
Fraud Prevention Manager240,000 GYD
Fund Accountant111,000 GYD
Grants Coordinator84,700 GYD
Internal Auditor163,000 GYD
Internal Control Adviser186,000 GYD
Internal Control Officer102,000 GYD
Inventory Accountant129,000 GYD
Investment Analyst227,000 GYD
Investment Fund Manager261,000 GYD
Investment Underwriter98,800 GYD
Investor154,000 GYD
Investor Relations Manager238,000 GYD
KYC Team Leader218,000 GYD
Management Economist275,000 GYD
Paymaster91,600 GYD
Payroll Clerk105,000 GYD
Payroll Manager220,000 GYD
Pensions Administrator125,000 GYD
Pricing Analyst199,000 GYD
Private Equity Analyst209,000 GYD
Proposal Development Coordinator105,000 GYD
Receivables Accountant104,000 GYD
Regulatory Accountant123,000 GYD
Retirement Plan Analyst188,000 GYD
Revenue Management Specialist195,000 GYD
Revenue Recognition Analyst211,000 GYD
Risk Management Director279,000 GYD
Risk Management Supervisor228,000 GYD
Tax Accountant115,000 GYD
Tax Advisor177,000 GYD
Tax Associate102,000 GYD
Tax Manager233,000 GYD
Teller67,100 GYD
Treasury Accountant123,000 GYD
Treasury Analyst198,000 GYD
Underwriter85,800 GYD
Underwriting Assistant80,100 GYD
Vice President of Finance324,000 GYD

Accounting and Finance Jobs Salary Distribution in Guyana

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

  • Salary Range

    Accounting and Finance salaries in Guyana range from 73,000 GYD per month (minimum average salary) to 362,000 GYD per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 173,000 GYD per month, which means that half (50%) of people working in Accounting and Finance are earning less than 173,000 GYD while the other half are earning more than 173,000 GYD. 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 111,000 GYD while 75% of them are earning more than 111,000 GYD. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 257,000 GYD while 25% are earning more than 257,000 GYD.


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 Guyana costs anywhere from 876,000 Guyana Dollar(s) to 2,630,000 Guyana 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 monthly Guyana 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 Guyana who work in Accounting and Finance earn 8% more than their female counterparts on average.

Male
188,000 GYD
Female-7%
175,000 GYD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Guyana for all Careers

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

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

Accounting and Finance

Accounting and Finance professionals in Guyana are likely to observe a salary increase of approximately 6% every 27 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Guyana 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.

Guyana / 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 Guyana is 2%.

Annual Increment Rate By Industry 2020

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 Guyana 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 Guyana

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

42% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 58% 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
58%
No Bonus
42%

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 Guyana


1,040 GYD per hour

The average hourly wage (pay per hour) in Guyana is 1,040 GYD. This means that the average person in Guyana earns approximately 1,040 GYD 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 Guyana
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The average salary for Accounting and Finance is 3% 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 Guyana earn 14% more than their private sector counterparts on average across all sectors.

Private Sector
166,000 GYD
Public Sector+14%
189,000 GYD
Percentage increase and decrease are relative to the previous value

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