How much money does a person working in Accounting and Finance make in Kenya?
Average Monthly Salary
151,000 KES
( 1,810,000 KES yearly)
LOW
61,200
KESAVERAGE
151,000
KESHIGH
304,000
KES
A person working in Accounting and Finance in Kenya typically earns around 151,000 KES per month. Salaries range from 61,200 KES (lowest average) to 304,000 KES (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 Title | Average Salary |
| Account Examiner | 79,700 KES |
| Account Executive | 135,000 KES |
| Accountant | 108,000 KES |
| Accounting Assistant | 85,100 KES |
| Accounting Associate | 80,100 KES |
| Accounting Clerk | 64,800 KES |
| Accounting Coordinator | 95,700 KES |
| Accounting Manager | 219,000 KES |
| Accounting Supervisor | 142,000 KES |
| Accounting Technician | 71,700 KES |
| Accounts Executive | 135,000 KES |
| Accounts Payable and Receivable Specialist | 111,000 KES |
| Accounts Payable Clerk | 77,400 KES |
| Accounts Payable Manager | 208,000 KES |
| Accounts Receivable Clerk | 79,100 KES |
| Accounts Receivable Manager | 209,000 KES |
| Assistant Accounting Manager | 202,000 KES |
| Assistant Auditor | 106,000 KES |
| Audit Supervisor | 188,000 KES |
| Auditing Clerk | 80,800 KES |
| Auditing Manager | 224,000 KES |
| Billing Coordinator | 101,000 KES |
| Billing Specialist | 109,000 KES |
| Billing Supervisor | 170,000 KES |
| Bookkeeper | 73,900 KES |
| Bookkeeping Specialist | 97,800 KES |
| Budget Analyst | 177,000 KES |
| Budget Manager | 214,000 KES |
| Business Support Analyst | 119,000 KES |
| Capital Markets Associate | 167,000 KES |
| Cash Flow Analyst | 158,000 KES |
| Cash Management Officer | 123,000 KES |
| Cashbook Clerk | 76,100 KES |
| Chartered Accountant | 138,000 KES |
| Collections Clerk | 63,400 KES |
| Collections Specialist | 106,000 KES |
| Corporate Treasurer | 198,000 KES |
| Cost Accountant | 107,000 KES |
| Cost Accounting Manager | 208,000 KES |
| Cost Analyst | 169,000 KES |
| Credit and Collection Manager | 207,000 KES |
| Credit and Collection Staff | 81,400 KES |
| Credit and Loans Officer | 77,500 KES |
| Credit Controller | 154,000 KES |
| Debt Adviser | 180,000 KES |
| Debt Collector | 88,700 KES |
| Debtors Clerk | 73,800 KES |
| Deputy CFO | 291,000 KES |
| Derivative Trader | 176,000 KES |
| Escrow Assistant | 97,800 KES |
| External Auditor | 152,000 KES |
| Finance Associate | 91,100 KES |
| Finance Executive | 231,000 KES |
| Finance Licensing Clerk | 78,200 KES |
| Finance Licensing Manager | 209,000 KES |
| Finance Licensing Specialist | 120,000 KES |
| Finance Officer | 105,000 KES |
| Finance President | 301,000 KES |
| Finance Relationship Manager | 258,000 KES |
| Finance Release Analyst | 129,000 KES |
| Finance Team Leader | 239,000 KES |
| Financial Actuary | 156,000 KES |
| Financial Administrator | 183,000 KES |
| Financial Analyst | 192,000 KES |
| Financial Applications Specialist | 141,000 KES |
| Financial Assistant | 82,900 KES |
| Financial Associate | 83,600 KES |
| Financial Claims Analyst | 148,000 KES |
| Financial Claims Manager | 198,000 KES |
| Financial Commercial Analyst | 159,000 KES |
| Financial Compliance Analyst | 166,000 KES |
| Financial Consultant | 145,000 KES |
| Financial Controller | 166,000 KES |
| Financial Coordinator | 99,300 KES |
| Financial Customer Service Manager | 200,000 KES |
| Financial Dealer and Broker | 114,000 KES |
| Financial Encoder | 94,400 KES |
| Financial Manager | 308,000 KES |
| Financial Operations Manager | 272,000 KES |
| Financial Policy Analyst | 164,000 KES |
| Financial Project Manager | 216,000 KES |
| Financial Quantitative Analyst | 180,000 KES |
| Financial Reporting Consultant | 156,000 KES |
| Financial Reporting Manager | 202,000 KES |
| Financial Services Sales Agent | 118,000 KES |
| Fixed Assets Administrator | 111,000 KES |
| Forensic Accountant | 130,000 KES |
| Fraud Detection Supervisor | 136,000 KES |
| Fraud Prevention Manager | 228,000 KES |
| Fund Accountant | 97,900 KES |
| Grants Coordinator | 82,400 KES |
| Internal Auditor | 147,000 KES |
| Internal Control Adviser | 174,000 KES |
| Internal Control Officer | 97,500 KES |
| Inventory Accountant | 114,000 KES |
| Investment Analyst | 207,000 KES |
| Investment Fund Manager | 230,000 KES |
| Investment Underwriter | 88,800 KES |
| Investor | 137,000 KES |
| Investor Relations Manager | 216,000 KES |
| KYC Team Leader | 215,000 KES |
| Management Economist | 250,000 KES |
| Paymaster | 88,800 KES |
| Payroll Clerk | 89,100 KES |
| Payroll Manager | 189,000 KES |
| Pensions Administrator | 114,000 KES |
| Pricing Analyst | 172,000 KES |
| Private Equity Analyst | 185,000 KES |
| Proposal Development Coordinator | 95,500 KES |
| Receivables Accountant | 100,000 KES |
| Regulatory Accountant | 116,000 KES |
| Retirement Plan Analyst | 177,000 KES |
| Revenue Management Specialist | 186,000 KES |
| Revenue Recognition Analyst | 191,000 KES |
| Risk Management Director | 263,000 KES |
| Risk Management Supervisor | 218,000 KES |
| Tax Accountant | 105,000 KES |
| Tax Advisor | 166,000 KES |
| Tax Associate | 95,300 KES |
| Tax Manager | 228,000 KES |
| Teller | 61,500 KES |
| Treasury Accountant | 112,000 KES |
| Treasury Analyst | 178,000 KES |
| Underwriter | 73,500 KES |
| Underwriting Assistant | 69,900 KES |
| Vice President of Finance | 304,000 KES |
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Accounting and Finance Jobs Pay Scale and Salaries in Kenya
Salary Structure and Pay Scale Comparison
5% of people earn
155,000 KES or more
10% of people earn
131,000 to 155,000 KES
20% of people earn
79,000 KES or less
65% of people earn
79,000 to 131,000 KES
61,200 KES |
135,000 KES |
304,000 KES |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Accounting and Finance salaries in Kenya range from 61,200 KES per month (starting average salary) to 304,000 KES per month (maximum average salary, actual maximum is higher). This is not the minimum wage as per the law, only the lowest reported number in the salary survey that had thousands of participants and professionals from all over the country.
Median Salary
The median salary is 135,000 KES per month, which means that half (50%) of people working in Accounting and Finance are earning less than 135,000 KES while the other half are earning more than 135,000 KES. 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 and Salary Scale
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 106,000 KES while 75% of them are earning more than 106,000 KES. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 163,000 KES while 25% are earning more than 163,000 KES.
Pay Scale Structure
We grouped the most common and recurring salaries into brackets to give more insight into what salary to expect. This method is more accurate than just the average salary and gives more insights on how salaries are actually distributed. Around 65% of all reported figures are in the range 79,000 KES to 131,000 KES. Approximatly 20% fall under the 79,000 KES cap. Ten percent of wages are from 131,000 KES to 155,000 KES. Only 5% of people grossed 155,000 KES or more.
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Salary Comparison by Years of Experience
How does a person's salary progress over time?
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?
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 Kenya costs anywhere from 734,000 Kenyan Shilling(s) to 2,200,000 Kenyan Shilling(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.
Salary and Compensation Comparison By Gender - Accounting and Finance
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Kenya who work in Accounting and Finance earn 10% more than their female counterparts on average.
| Male | 160,000 KES | |
| Female | -9% | 146,000 KES |
Percentage increase and decrease are relative to the previous value
Salary Comparison By Gender in Kenya for all Careers
Accounting and Finance Average Annual Salary Increment Percentage in Kenya
How much are annual salary increments in Kenya for Accounting and Finance professionals? How often do employees get salary raises?
Accounting and Finance
Accounting and Finance professionals in Kenya 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.
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.
Kenya / 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 Kenya is 2%.”
Annual Increment Rate By Industry 2022
| 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 Kenya for the year 2022. 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
Salary Packages and Schemes
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
Accounting and Finance Bonus and Incentive Rates in Kenya
How much and how often are bonuses being awarded?
Accounting and Finance is considered to be a high bonus-based field. 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 Generators | Supporting 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: | Example: |
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 Salary Forecast and Trend in Kenya
How do Accounting and Finance salaries change over time? Listed below is a chart that shows the average salary in recent years.
| Average Salary 2019 | 134,000 KES | |
| Average Salary 2020 | +4% | 139,000 KES |
| Average Salary 2021 | +2% | 142,000 KES |
| Average Salary 2022 | +3% | 146,000 KES |
Percentage increase and decrease are relative to the previous value
Accounting and Finance salaries in Kenya are rising in the year 2023 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2022 are 3% higher than those of 2021. The trend suggests a slow yet continuous increase in pay in 2024 and future years. These numbers may vary from industry to another.
Accounting and Finance Hourly Average Wage in Kenya
870 KES per hour
The average hourly wage (pay per hour) in Kenya is 870 KES. This means that the average person in Kenya earns approximately 870 KES for every worked hour.
Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )
About The Hourly Pay Rate
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.
What is the minimum hourly rate of pay?
This minimum pay rate per hour for a person in Kenya is 350 KES. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Accounting and Finance VS Other Jobs
151,000 KES
147,000 KES
Average Salary
Accounting and Finance
Average Salary
All Jobs
The average salary for Accounting and Finance is 3% more than that of All Jobs.
Salary Comparison By City
| City | Average Salary |
| Kisumu | 147,000 KES |
| Mombasa | 165,000 KES |
| Nairobi | 180,000 KES |
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 Kenya earn 14% more than their private sector counterparts on average across all sectors.
| Private Sector | 140,000 KES | |
| Public Sector | +14% | 159,000 KES |
Percentage increase and decrease are relative to the previous value
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for Accounting and Finance in Kenya?
A good and competitive compensation would range anywhere between 135,000 KES and 163,000 KES. This is a very rough estimate and your experience and education will play a very huge part into your final earnings.
Gross Salary (before tax) and Net Salary (after tax)
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salart after tax for every career.
Base / Basic Salary
The base salary for Accounting and Finance in Kenya is ranges from 106,000 KES to 163,000 KES. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range in a grain of salt.
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
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