Accountants are getting super popular these days in the Philippines. Why, you ask? Well, it’s all because businesses are branching out and doing all sorts of different things in the economy. And guess what? The first thing that pops into everyone’s minds is:
How much is the Accountant salary in the Philippines?
The average salary of an accountant in the Philippines is Php 29,812, according to indeed.com. This is more than twice the national average salary for an office worker.
Based on an average monthly salary of Php 29,812, your hourly pay would be around Php 124, assuming 5 workdays per week and 8 work hours per day, for a total of 40 hours per week. This figure is calculated by dividing your base salary by the number of hours, weeks, and months worked in a year.
Average Salary of Accountants in the Philippines?
In the Philippines, an accountant typically earns around 30,100 PHP per month. Salaries range from Php 13,900 (minimum) to Php 47,900 (maximum). In the Philippines, the average monthly salary for an accountant is around Php 32,600.
This is the average monthly accountant salary in the Philippines, which typically includes housing, transportation, and other benefits. Accountant pay varies widely based on experience, skills, gender, and location of employment.
According to the median salary value, which is the middle salary value, 50% of accountants make less than Php 32,600 and 50% make more than Php 32,600.
The median is closely correlated with the values at the 25th and 75th percentiles. A salary distribution diagram on salaryexplorer.com shows that 25% of accountants make less than Php 20,900 while 75% make more than Php 20,900. In addition, 75% of accountants make less than Php 43,500 annually, while 25% make more.
Where you work affects your pay as an accountant in the Philippines. You will earn more money by working for a public company or the government. In the Philippines, public sector employees across all industries make 12% more money on average than their private sector counterparts. Accountants make about Php 42,100 in the private sector and Php 47,100 in the public sector each month.
By looking at your median and average salaries, you can determine whether you are being paid fairly based on the general population.
Accountant Salary in Different Filipino Cities
| City | Average Salary |
| Cagayan de Oro | Php 467,100 |
| Cebu | Php 528,600 |
| Davao | Php 498,000 |
| Kalookan | Php 535,800 |
| Las Pinas | Php 447,300 |
| Makati | Php 442,200 |
| Manila | Php 551,200 |
| Paranaque | Php 462,300 |
| Pasig | Php 464,400 |
| Quezon City | Php 555,800 |
| Taguig | Php 485,300 |
Salary Comparison for Accountants based on Years of Experience and Education
The degree of experience and education are the two key elements in determining salary. The expected salary for an accountant increases with both experience and education. It’s critical to comprehend the hiring criteria used by employers.
| Years of Experience | Salary |
| < 2 years | Php 15,700 |
| 2 to 5 years | Php 21,000 |
| 5 to 10 years | Php 31,000 |
| 10 to 15 years | Php 37,900 |
| 15 to 20 years | Php 41,300 |
| 20+ years | Php 44,700 |
According to the table, a worker with two to five years of experience makes 34% more money than someone with only two years of experience.
Five to ten years of experience pays 48% more than two to five years of experience. Additionally, the pay for accountants with ten to fifteen years’ experience is 22% higher than for accountants with five to ten years’ experience.
If you have fifteen to twenty years of experience, you can expect to make 9% more money than someone with ten to fifteen years of experience.
Finally, compared to someone with fifteen to twenty years of experience, someone with twenty or more years of experience will earn 8% more.
When an accountant in the Philippines has 10 years of experience, their salary will have doubled. However, depending on the average change in salary over time, salaries may differ from person to person.
Higher education raises salaries, but how much more can a degree increase your take-home pay? The level of education and salary are displayed in the following table.
| Level of Education | Salary |
| High School | Php 19,300 |
| Certificate or Diploma | Php 22,700 |
| Bachelor’s Degree | Php 32,900 |
| Master’s Degree | Php 43,200 |
A high school graduate accountant makes an average monthly salary of Php 19,300.
A certificate or diploma holder makes Php 22,700 per month, which is 180% more than a high school graduate.
An average monthly salary for a bachelor’s degree holder is Php 32,900, or 45% more than that of a certificate or diploma holder.
Master’s degree holders make an average salary of 43,200 PHP per month, which is 31% more than bachelor’s degree holders.
In the Philippines, an entry-level accountant can expect to make between Php 28,000 and Php 38,000. In the Philippines, a junior accountant makes about Php 22,318 per month.
Senior accountants in the Philippines make Php 44,187 per month in wages. Given that they have no prior work experience, newly graduated accountants in the Philippines can expect to earn a starting salary of Php 15,700.
In general, whether they are new hires or have worked in the field for a long time, accountants make a lot of money compared to other professionals.
What are some ways that Certified Public Accountants can raise their salaries?
Advance degrees could make accountants eligible for promotions. With the right mix of accounting knowledge and ongoing education, CPAs can expand their career options by pursuing specialized roles like budget analyst, auditor, controller, tax accountant, or corporate financial officer. Along with these credentials, experience managing junior CPAs will increase your income.
See also: Philippine Salary Grade 2023 with Salary Indicated
How to be an Accountant?
The financial requirements of a business are assisted by financial or cost accountants. They assist with the profit, revenue, and loss of the business. There are several steps involved in becoming an accountant because of the demands of the position.
You must first complete a five-year Bachelor of Science in Accounting program in order to work as an accountant in the Philippines.
You must pass the Certified Public Accountant’s Licensure Examination after completing your studies. Additionally, you need to learn additional skills related to accounting, such as computer proficiency.
Accountant Tasks and Skills
Most businesses favor Certified Public Accountants over those who have not only completed a BS in Accounting course or its equivalent (CPAs).
Knowledge of Accounting and Financial Reporting Standards is one of the competencies, or knowledge, skills, and attributes, needed to work as an accountant. In-depth computer skills, including the use of accounting and financial analysis software like accounting software, a proactive attitude toward work and the team, good communication skills, attention to detail and analytical skills, and the capacity to meet deadlines are among these.
Conclusion
Accountants’ pay varies according to the type of organization or company they work for and their position or level of experience.
The average monthly pay for accountants is around Php 30,000. This is one of the highest-paying jobs in the Philippines because of the significance of the position and the time needed to qualify.
In conclusion, the salary landscape for accountants in the Philippines varies based on education level and experience. A high school graduate accountant starts with an average monthly salary of Php 19,300, while a certificate or diploma holder earns Php 22,700, representing a significant 180% increase. Holding a bachelor’s degree boosts the average monthly salary to Php 32,900, marking a 45% jump from a certificate or diploma holder. Furthermore, those with a master’s degree in accounting earn an average of Php 43,200 per month, which is 31% more than those with a bachelor’s degree.
Entry-level accountants in the Philippines can anticipate a starting salary ranging from Php 28,000 to Php 38,000. Junior accountants typically earn around Php 22,318 per month, while senior accountants command a monthly wage of Php 44,187. Fresh graduates can expect to begin their careers with a starting salary of Php 15,700. Accountants, both new and experienced, generally enjoy relatively lucrative earnings compared to other professions.
Certified Public Accountants (CPAs) can explore various avenues to increase their salaries. Pursuing advanced degrees opens doors for promotions and specialized roles, such as auditor, tax accountant, or financial officer. Gaining experience in managing junior CPAs can also contribute to higher income.
Becoming an accountant in the Philippines involves several steps, including completing a five-year Bachelor of Science in Accounting program and passing the Certified Public Accountant’s Licensure Examination. Additional skills like computer proficiency are also essential.
Source: DIGIDO Philippines
How po maging military?
hello sir\maam
im high school graduate, how to apply po, im interested po for this work im from samar ..