Salary Advice: What is the Average Salary of an Accountant?

Are you happy with your current salary? Does the amount of money you receive every end month correspond to the amount of work you do? I believe most people would probably say no.

In fact, if a survey was conducted today, the higher percentage of employees would admit to wanting an increase in salary. And this is because there is no limit to the amount of money you can earn. That being said, as an accountant, do you know what is the average salary for someone in your profession?

How much money you earn is determined by a range of factors. For instance, the organisation you work for, your experience level, how well you negotiate and your job title can influence the amount of money you earn.

That’s why you may find that you earn a lower salary than someone in the same job as you, yet you are in the same organisation. It is not that your boss is being unfair. It’s just that you probably didn’t do thorough research during your application, didn’t negotiate hard enough or your experience does not warrant a higher payday.

The Average Salary of an Accountant with 2-5 Years of Experience

Before we even proceed to how much you should be earning as an accountant in this experience bracket, remember this is only the average amount. It is not the money you should go demanding to your boss if you earn less, and it is not necessarily the amount you should quote in a job interview. Different organisations pay different salaries depending on their structure and budget.

For instance, a multinational like Deloitte or PwC may pay an amount that a new startup or SME may not afford to. This to mean, you cannot quote the same amount of salary in every single organisation. You need to do your research on an organisation before every job interview if you are to impress with your expected salary. Otherwise, you may ruin your chances by mentioning the wrong amount.

40-60K is the Average Salary for Accountants

According to Melody Mwendwa, Interview Coaching Manager at Corporate Staffing Services, Accountants with an experience of 2 years up to 5 years receive a salary ranging from KSh 40,000 to 60,000. And if you were to look at job adverts of accountants posted on various job websites like Career Point Kenya, Brighter Monday and even on various recruitment firms, like our very own Corporate Staffing Services, you will confirm this to be the trend.

But even as this is the case, Melody cautions that the salary matter should be handled with care. “While 40-60K is considered an average salary for accountants, job seekers and employees should not have expectations of being paid this particular amount,” She says. “Some companies may offer to pay a 30K salary to a candidate with 3 years of experience, and others may offer to pay the same candidate 80K and above.”

What to Remember about Salary in an Interview

Before being quick to mention your expected salary during that job interview or complaining about your current pay, consider all the factors at play. Ask yourself; how big or small is the organisation? How many years of experience do you have? What added qualifications do you have that will guarantee you a high salary? What salary do competing organisations pay employees in your position?

These questions will help you discover the salary you deserve and help you in your next salary negotiation meeting. And if you are still not sure how much money you should get paid, talk to a career coach today. They will guide you on what to look for and provide you with a salary range for your next interview.

Got a question on salaries or the Accounting profession? Leave a comment below and we will be glad to assist.