Accounting is the process of recording, classifying and summarization of financial transactions in a business. It is a significant component in a business as it is important for decision making and effective decision making. As accounting is crucial in business, they hire an accounting team to manage all accounting operations. Business in the Philippines continues to grow, with that consistent growth, it is significant to know how much accountants earn for their new job and employers as well. This article focuses on accounting salary trends in Philipsens, factors that affect them, including experience, location, industry, and certifications.
Accountancy Salary In Philippines
Accountants in the Philippines earn an average salary of PHP 60,000 per month or PHP 351 per hour. They also get a bonus of PHP 25,527. Beginners with 1 to 3 years of experience usually get PHP 25000 to PHP 35000, while experienced accountants with an experience 8 years of experience can earn PHP 50,000 to PHP 100,000+.
Key Factors That Affect Accountant Salaries
The salary of an accountant may vary based on the certification and experience he has and the location he is applying for a job. Higher education, relevant experience, and unique skills usually lead to a better salary. Where you live also matters due to differences in living costs and job availability. Detailed information about factors affecting an accountant’s salary is given below:
Certifications
To earn higher salaries as an accountant in the Philippines, one should have professional certifications like a Certified Public Accountant (CPA). As the average salary of an accountant in the Philippines is around PHP 60,000 per month, someone with a CPA certificate can earn 30% to 50% more, with earnings of PHP 60,000 to PHP 120,000 or even higher. Other certifications, such as Certified Management Accountant (CMA) or Chartered Accountant (CA), can also contribute to salary increases. Someone with (CMA certificate can earn up to 60% to 70% more than non-CMAs. Someone with (CA certification can get an increase in salary of 50% to 65% the average salary. Average Monthly salaries based on certification.
Certification
Salary (PHP)
% Increase Compared to No Certification
No Certification
25,000
—
CPA (Philippines)
40,000
+60%
CA (Pakistan/UK/etc.)
35,000
+40%
CMA
50,000
+100%
ACCA
55,000
+120%
CPA (USA)
60,000
+140%
Experience
Generally, more experience can generate higher earning potential. In the Philippines, salaries of accountants also vary based on experience. An entry-level accountant with experience of less than 3 years can earn PHP 238,684 to PHP 304228 per year, those with 5 to 9 years of experience can earn up to PHP 500,000.
Experience Level
Salary Range (PHP)
Description
Entry-level (0 to 3 years)
PHP 238,684
Fresh graduates or new to the field
Early career (1 to 4 years)
PHP 280,000 – PHP 304,228
Some experience, developing skills
Mid-career (5 – 9 years)
PHP 500,000
Established professionals with solid experience
Experienced (+5 years)
PHP 100,000 – PHP 120,000
(Note: Salary range seems inconsistent with years; might need review)
Location
Salary can also vary depending on location due to regional differences, cost of living, economic activities, and demand for professionals.
Metro Manila
considered as the country’s business capital. Top-paying companies, banks, and international firms are located here; as a result, accountants can also earn higher salaries in Metro Manila. Accountants can earn 20% to40% more than their peers in the provinces. In Metro Manila, accountants are offered an average salary of PHP 550,000 for entry–level accountants and PHP 1.2M or more for senior-level
Cebu/ Davao
Two of the biggest and developed cities of the Philippines. They may not offer the highest salaries like Metro Manila does, tbut hey still offer great opportunities for accountants along with a better quality of life. Accountants are offered an average salary of PHP 450,000 to PHP 600,000 for Entry Level whereas senior-level accountants are offered PHP 900,000 to PHP 1M. Accountants in these cities typically earn moderate to high salaries, depending on their experience and the industry they work in.
How To Boost Your Salary As An Accountant?
By taking a mix of skills, certifications, experience, and strategy, you can boost your salary in the Philippines or anywhere. Here a list of ways to boost your earning potential:
1. Get certified
By earning a CPA certificate, you can get a great increment in your salary.
You can also consider other certifications like CMA or ACCA.
2. Upskill continuously
Learn new skills like Excel, QuickBooks, or SAP.
Take online courses in tax, audit, or financial analysis.
Stay updated with industry news and tax laws.
3. Gain experience in high demand sectors
Big or international companies usually offer higher salaries and more benefits.
Try applying to BPO firms, banks, or multinational businesses.
4. Consider relocation
Metro Manila, Cebu, or Davao offer salaries higher than in rural areas. Moving to a bigger city can give you better job opportunities.
FAQs
Which accountants have higher salaries?
CMA Certified Management Accountant, CPA Certified Public Accountant, CA, and ACCA often have higher salaries.
How much does a CPA can earn in Philippines?
The average salary of a CPA is 65000PHP.
Q Can I negotiate my salary even if I’m not a CPA?
Yes, if you gained relevant skills and experience, then you can ask for a raise in your salary.
Q. Which industries pay accountants higher in the Philippines?
Banking and finance, BPO and shared services, Multinational corporations, and audit firms.
Q. What skills should I learn to stand out?
Advanced Excel and Goggle sheets, Accounting Software (SAP, QuickBooks), Financial Reporting, soft skills (communication and problem solving).
The salary of an accountant in the Philippines varies depending on factors such as experience, education, place, and type of company. While entry-level posts can offer a nominal salary, salary usually increases with years of skill, certificate and experience. Overall, accounting is considered a stable and respected profession in the country, providing good career growth and earning ability over time.
