Are you working as an accountant and wondering whether your salary is in line with the market? Or are you looking for your first job in accounting but have no idea what salary to expect?
Every year, staffing specialist Robert Walters produces its Salary Survey, which provides a salary overview for finance professionals alongside trends in the Belgian and European labour market. Today we take a closer look at salaries for accountants.
Junior accountant
Those who have recently graduated and start working as a Junior Accountant can count on a gross monthly salary of around EUR 2,100 - 2,800 per month. In most cases, this salary is further supplemented with extra-legal benefits such as a mobile phone, an insurance package, a bonus, meal vouchers, ...
Assistant Accountant / Accounts Payable Accountant / Accounts Receivable Accountant
In larger organisations, an accounting department has several employees, often each with their own clearly defined responsibilities. As an Assistant Accountant, you will support the more experienced accountants mainly by entering invoices and expense reports of employees within the organisation, reconciling various accounts, filing, etc. If you are fairly new to the position, you can expect a gross monthly salary of EUR 2,100 - 2,800. This salary obviously depends on the size and location of the organisation.
If you have 3-6 years' experience in a similar position, you can expect a gross monthly salary between EUR 2700 and 3400, excluding fringe benefits. If you have 6 years' experience or more, then your salary will also rise on average to around EUR 3300 - 3900 gross per month.
General Ledger Accountant
A General Ledger Accountant takes care of coding invoices and managing payments to customers and suppliers. He/she is responsible for monthly returns such as commissions and corrections at the end of the month. He is also responsible for annual tax returns and completing VAT declarations.
The gross monthly salary of a starting GL Accountant is about EUR 200 to 400 higher than that of a Junior Accountant, because the range of tasks is more extensive and includes more responsibilities. Those who opt for a job within GL accounting see their salary rise rapidly: professionals with three to six years' experience earn on average between EUR 3000 and EUR 4000 gross per month. A Senior General Ledger Accountant with more than six years' experience can expect an average gross monthly salary of EUR 3700 to 4700.
Senior/Chief Accountant
As Senior Accountant or Chief Accountant, you function as the management's right-hand man, so to speak, and you are responsible for checking and monitoring the organisation's general operational accounting and ensuring correct quarterly and annual closing. In addition, you are responsible for reporting and drawing the necessary conclusions. On that basis, you then advise the management team so that the right financial decisions can be taken.
Although the job title is often the same, there is a difference in job content, depending on which type of organisation you work for: an accounting firm, an SME or a large international organisation. Depending on the sector and the size of the organisation you work for, you can expect an average gross monthly salary of EUR 3900 - 5500. In most cases, that salary is supplemented by a company car, laptop, mobile phone, meal vouchers and an insurance package.
AP/AR/GL Team Leader/Supervisor
Whereas a Chief Accountant will manage several accounting specialists, each with their own specialisation, a Team Leader or Supervisor within AP/AR or GL focuses purely on leading, supervising and coaching the team in charge of accounts payable, accounts receivable or general ledger. We see this kind of position mainly in large companies or organisations where the finance department is organised by specialisation.
So it is certainly no exception that, as an AP/AR or GL accountant, you will grow into a Team Leader or Supervisor role after a few years. At that point, you can of course count on a nice gross monthly salary of around EUR 3800 - 5700 per month, supplemented of course by numerous fringe benefits.
Credit Collector
As a Credit Collector, you play an important supporting role in an organisation's finance department. Both by telephone and in writing, you are the person who will follow up outstanding invoices and answer questions from customers regarding invoices and payments. You also keep accurate records of this information and ensure that defaults of payment are identified. A talent for languages is therefore a strong asset in this position. The more languages you speak, the broader your responsibilities will be and the faster you will climb the career ladder.
As a starting Credit Collector, you can expect a gross monthly salary of EUR 2200 - 2900. Once you have some experience under your belt and do more than call a list of customers or send payment reminders, your salary will rise to around EUR 2800 - 3400 gross per month. Credit Collectors with more than 6 years' experience who can also assess problem files and read balance sheets will see their pay rise to 3300 - 4200 gross per month, supplemented by extralegal benefits, of course.
Want to know more?
Want to know more about salary trends in the Belgian market? Request access to our free Robert Walters Salary Survey. Looking to move roles? Check out our most recent jobs or contact one of our offices.
