Average Accounting Manager Salary in Maldives for 2024

In this article, we will look at the average Accounting Manager salary for 2024 in Maldives and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Maldivian rufiyaa. To keep things simple, we are using the MVR currency code instead of the currency symbol .Þƒ.

How Much Does an Accounting Manager Make in Maldives?

An Accounting Manager working in Maldives will typically earn around 340,400 MVR per year, and this can range from the lowest average salary of about 185,100 MVR to the highest average salary of 514,800 MVR.

Average Annual Salary
340,400 MVR
Average Monthly Salary
28,366 MVR

Lowest Annual Salary
185,100 MVR
Lowest Monthly Salary
15,425 MVR

Highest Annual Salary
514,800 MVR
Highest Monthly Salary
42,900 MVR

These are average salaries for an Accounting Manager in Maldives and include benefits such as housing and transport. It's also possible for an Accounting Manager to earn more or less than the average salaries shown above.

Accounting Manager salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Accounting Manager Salaries in Maldives

So we've looked at the average salaries an Accounting Manager will earn in Maldives. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Accounting Manager can earn between 185,100 MVR and 514,800 MVR on average in Maldives. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for an Accounting Manager in Maldives is 315,700 MVR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 315,700 MVR, and 50% of the population earn more than 315,700 MVR.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Accounting Manager salary in Maldives, 25% of the population are earning less than 225,700 MVR while 75% of the population earn more than 225,700 MVR.

75% of the population earn less than 383,300 MVR, and 25% of the population earn more than 383,300 MVR.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Accounting Manager Salary by Experience Level in Maldives

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average accounting manager salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. An Accounting Manager in Maldives that has less than two years of experience can expect to earn somewhere in the region of 212,500 MVR.
  • 2 - 5 Years Experience. With two to five years of experience the average Accounting Manager salary would increase to 271,300 MVR.
  • 5 - 10 Years Experience. From five to ten years of experience as an Accounting Manager, the average salary would be 357,300 MVR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 421,400 MVR.
  • 15 - 20 Years Experience. An Accounting Manager with 15 to 20 years of experience can earn an average of 466,300 MVR.
  • 20+ Years Experience. For an Accounting Manager with more than 20 years, the expected average salary increases to 492,700 MVR.

Average Salary by Experience Chart

0-2 Years
212,500 MVR
2-5 Years +26%
271,300 MVR
5-10 Years +32%
357,300 MVR
10-15 Years +18%
421,400 MVR
15-20 Years +11%
466,300 MVR
20+ Years +6%
492,700 MVR

Accounting Manager Salary by Education Level in Maldives

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for an Accounting Manager in Maldives based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Certificate or Diploma. An Accounting Manager in Maldives with a certificate or diploma education can earn an average salary of 271,300 MVR.

  • Bachelor's Degree. An Accounting Manager in Maldives with a bachelor's degree education can earn an average salary of 357,300 MVR.

  • Master's Degree. An Accounting Manager in Maldives with a master's degree education can earn an average salary of 489,500 MVR.

Average Salary by Education Chart

Certificate or Diploma
271,300 MVR
Bachelor's Degree +32%
357,300 MVR
Master's Degree +37%
489,500 MVR

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Maldives is around 95,600 to 287,000 MVR and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Accounting Manager Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Maldives, a male accounting manager will earn an average of 351,200 MVR, while a female accounting manager will earn around 325,600 MVR.

This means that a male accounting manager earns approximately 8% more than a female accounting manager for performing the same job.

Average Salary by Gender Chart in Maldives

Male
351,200 MVR
Female -8%
325,600 MVR

Accounting Manager Average Pay Raise in Maldives

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for an Accounting Manager in Maldives is around 8% every 29 months.

The national average pay raise across all professions and industries in Maldives is around 4% every 29 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 8 ÷ 29 ) × 12  = 3%

What this means is that an Accounting Manager in Maldives can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Maldives for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Maldives.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
5%
Energy
1%
Information Technology
6%
Healthcare
2%
Travel
7%
Construction
3%
Education
8%

Accounting Manager Bonus and Incentive Rates in Maldives

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

An Accounting Manager is a moderate bonus based job, with 59% of employees reporting at least one bonus in the last 12 months.

41% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 6% to 7%.

Received Bonus
59%
No Bonus
41%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Maldives earn approximately 8% more than private sector employees in the same role.

Public Sector
237,400 MVR
Private Sector -8%
218,900 MVR

Salaries for Jobs Similar to an Accounting Manager

In the table below, we have salary information for jobs that are similar to an Accounting Manager in Maldives.

Job Title Category Salary
Account Examiner Accounting and Finance 125,700 MVR
Account Executive Accounting and Finance 214,000 MVR
Accountant Accounting and Finance 159,100 MVR
Accounting Analyst Accounting and Finance 196,800 MVR
Accounting Assistant Accounting and Finance 125,700 MVR
Accounting Associate Accounting and Finance 112,760 MVR
Accounting Clerk Accounting and Finance 98,540 MVR
Accounting Coordinator Accounting and Finance 152,000 MVR
Accounting Head Accounting and Finance 340,400 MVR
Accounting Officer Accounting and Finance 119,900 MVR
Accounting Specialist Accounting and Finance 228,000 MVR
Accounting Supervisor Accounting and Finance 231,000 MVR
Accounting Technician Accounting and Finance 113,780 MVR
Accounting Unit Controller Accounting and Finance 273,000 MVR
Accounts Executive Accounting and Finance 209,500 MVR
Accounts Officer Accounting and Finance 125,100 MVR
Accounts Payable and Receivable Specialist Accounting and Finance 172,200 MVR
Accounts Payable Assistant Accounting and Finance 139,100 MVR
Accounts Payable Associate Accounting and Finance 148,300 MVR
Accounts Payable Clerk Accounting and Finance 125,100 MVR
Accounts Payable Manager Accounting and Finance 339,100 MVR
Accounts Receivable Administrator Accounting and Finance 239,000 MVR
Accounts Receivable Clerk Accounting and Finance 116,780 MVR
Accounts Receivable Financial Analyst Accounting and Finance 239,000 MVR
Accounts Receivable Manager Accounting and Finance 319,600 MVR
Accounts Receivable Team Leader Accounting and Finance 246,200 MVR
Assistant Accountant Accounting and Finance 124,400 MVR
Assistant Accounting Manager Accounting and Finance 292,000 MVR
Assistant Auditor Accounting and Finance 172,200 MVR
Assistant Corporate Controller Accounting and Finance 232,900 MVR
Assistant Finance Manager Accounting and Finance 327,300 MVR
Assistant Financial Controller Accounting and Finance 225,700 MVR
Audit Director Accounting and Finance 367,200 MVR
Audit Supervisor Accounting and Finance 288,100 MVR
Auditing Clerk Accounting and Finance 125,100 MVR
Auditing Manager Accounting and Finance 335,800 MVR
Billing Clerk Accounting and Finance 124,400 MVR
Billing Coordinator Accounting and Finance 152,300 MVR
Billing Specialist Accounting and Finance 172,200 MVR
Billing Supervisor Accounting and Finance 245,300 MVR
Bookkeeper Accounting and Finance 106,820 MVR
Bookkeeping Specialist Accounting and Finance 152,000 MVR
Budget Analyst Accounting and Finance 294,700 MVR
Budget Manager Accounting and Finance 327,800 MVR
Business Support Analyst Accounting and Finance 191,600 MVR
Capital Markets Associate Accounting and Finance 239,000 MVR
Cash Flow Analyst Accounting and Finance 246,500 MVR
Cash Management Manager Accounting and Finance 332,100 MVR
Cash Management Officer Accounting and Finance 181,600 MVR
Cashbook Clerk Accounting and Finance 107,320 MVR
Chartered Accountant Accounting and Finance 207,700 MVR
Chief Accountant Accounting and Finance 239,000 MVR
Collections Clerk Accounting and Finance 102,460 MVR
Collections Representative Accounting and Finance 138,200 MVR
Collections Specialist Accounting and Finance 174,000 MVR
Corporate Controller Accounting and Finance 271,300 MVR
Corporate Treasurer Accounting and Finance 327,300 MVR
Cost Accountant Accounting and Finance 161,600 MVR
Cost Accounting Manager Accounting and Finance 317,700 MVR
Cost Accounting Supervisor Accounting and Finance 253,400 MVR
Cost Analyst Accounting and Finance 263,900 MVR
Credit and Collection Manager Accounting and Finance 315,900 MVR
Credit and Collection Staff Accounting and Finance 123,400 MVR
Credit and Loans Officer Accounting and Finance 125,100 MVR
Credit Controller Accounting and Finance 228,500 MVR
Credit Manager Accounting and Finance 332,500 MVR
Debt Adviser Accounting and Finance 281,500 MVR
Debt Collector Accounting and Finance 129,000 MVR
Debtors Clerk Accounting and Finance 111,860 MVR
Debtors Controller Accounting and Finance 119,900 MVR
Deputy CFO Accounting and Finance 464,400 MVR
Deputy Head of Finance Accounting and Finance 447,300 MVR
Derivative Trader Accounting and Finance 288,100 MVR
Director of Finance Accounting and Finance 480,600 MVR
Economist Accounting and Finance 378,800 MVR
Equity Analyst Accounting and Finance 301,700 MVR
Escrow Assistant Accounting and Finance 148,300 MVR
Executive Accountant Accounting and Finance 175,900 MVR
External Auditor Accounting and Finance 232,400 MVR
Finance Administrator Accounting and Finance 189,300 MVR
Finance Analyst Accounting and Finance 283,700 MVR
Finance Associate Accounting and Finance 146,200 MVR
Finance Director Accounting and Finance 504,500 MVR
Finance Executive Accounting and Finance 351,200 MVR
Finance Licensing Clerk Accounting and Finance 113,280 MVR
Finance Licensing Manager Accounting and Finance 309,800 MVR
Finance Licensing Specialist Accounting and Finance 180,500 MVR
Finance Manager Accounting and Finance 451,000 MVR
Finance Officer Accounting and Finance 152,300 MVR
Finance President Accounting and Finance 489,500 MVR
Finance Relationship Manager Accounting and Finance 363,000 MVR
Finance Release Analyst Accounting and Finance 190,500 MVR
Finance Specialist Accounting and Finance 275,200 MVR
Finance Team Leader Accounting and Finance 381,800 MVR
Financial Accountant Accounting and Finance 161,600 MVR
Financial Actuary Accounting and Finance 259,100 MVR
Financial Administrator Accounting and Finance 257,700 MVR
Financial Advisor Accounting and Finance 308,300 MVR
Financial Analyst Accounting and Finance 283,400 MVR
Financial Applications Specialist Accounting and Finance 209,500 MVR
Financial Assistant Accounting and Finance 125,700 MVR
Financial Associate Accounting and Finance 134,600 MVR
Financial Associate Accounting and Finance 152,000 MVR
Financial Claims Analyst Accounting and Finance 228,500 MVR
Financial Claims Manager Accounting and Finance 279,400 MVR
Financial Claims Supervisor Accounting and Finance 267,100 MVR
Financial Clerk Accounting and Finance 127,700 MVR
Financial Commercial Analyst Accounting and Finance 233,600 MVR
Financial Compliance Analyst Accounting and Finance 254,700 MVR
Financial Consultant Accounting and Finance 217,900 MVR
Financial Controller Accounting and Finance 259,100 MVR
Financial Controller Accounting and Finance 266,000 MVR
Financial Coordinator Accounting and Finance 154,700 MVR
Financial Customer Service Manager Accounting and Finance 301,800 MVR
Financial Dealer and Broker Accounting and Finance 181,600 MVR
Financial Director Accounting and Finance 493,000 MVR
Financial Encoder Accounting and Finance 138,200 MVR
Financial Manager Accounting and Finance 437,300 MVR
Financial Manager Accounting and Finance 445,100 MVR
Financial Operations Manager Accounting and Finance 397,900 MVR
Financial Policy Analyst Accounting and Finance 246,200 MVR
Financial Project Manager Accounting and Finance 330,900 MVR
Financial Quantitative Analyst Accounting and Finance 294,700 MVR
Financial Reporting Consultant Accounting and Finance 228,000 MVR
Financial Reporting Manager Accounting and Finance 301,700 MVR
Financial Section Head Accounting and Finance 325,800 MVR
Financial Services Manager Accounting and Finance 417,200 MVR
Financial Services Sales Agent Accounting and Finance 181,600 MVR
Fixed Assets Administrator Accounting and Finance 161,600 MVR
Forensic Accountant Accounting and Finance 183,700 MVR
Fraud Detection Supervisor Accounting and Finance 208,600 MVR
Fraud Prevention Manager Accounting and Finance 322,600 MVR
Fund Accountant Accounting and Finance 157,600 MVR
Grants Coordinator Accounting and Finance 115,400 MVR
Group Financial Manager Accounting and Finance 457,300 MVR
Internal Auditor Accounting and Finance 228,000 MVR
Internal Control Adviser Accounting and Finance 266,000 MVR
Internal Control Officer Accounting and Finance 139,100 MVR
International Tax Director Accounting and Finance 392,300 MVR
Inventory Accountant Accounting and Finance 167,100 MVR
Investment Advisor Accounting and Finance 450,300 MVR
Investment Analyst Accounting and Finance 312,400 MVR
Investment Associate Accounting and Finance 282,500 MVR
Investment Broker Accounting and Finance 273,300 MVR
Investment Fund Manager Accounting and Finance 351,200 MVR
Investment Operations Manager Accounting and Finance 372,600 MVR
Investment Underwriter Accounting and Finance 138,200 MVR
Investor Accounting and Finance 204,000 MVR
Investor Relations Manager Accounting and Finance 330,900 MVR
KYC Team Leader Accounting and Finance 322,600 MVR
Loan Processor Accounting and Finance 138,200 MVR
Management Accountant Accounting and Finance 190,500 MVR
Management Economist Accounting and Finance 384,200 MVR
Paymaster Accounting and Finance 128,900 MVR
Payroll Administrator Accounting and Finance 225,300 MVR
Payroll Benefits Coordinator Accounting and Finance 175,900 MVR
Payroll Billing Manager Accounting and Finance 301,600 MVR
Payroll Clerk Accounting and Finance 138,200 MVR
Payroll Manager Accounting and Finance 301,300 MVR
Payroll Officer Accounting and Finance 150,000 MVR
Payroll Specialist Accounting and Finance 164,200 MVR
Payroll Supervisor Accounting and Finance 216,800 MVR
Pensions Administrator Accounting and Finance 172,200 MVR
Personal Financial Advisor Accounting and Finance 239,300 MVR
Pricing Analyst Accounting and Finance 275,200 MVR
Private Equity Analyst Accounting and Finance 301,800 MVR
Project Accountant Accounting and Finance 175,900 MVR
Proposal Development Coordinator Accounting and Finance 148,300 MVR
Receivables Accountant Accounting and Finance 142,300 MVR
Regulatory Accountant Accounting and Finance 172,200 MVR
Retirement Plan Analyst Accounting and Finance 271,300 MVR
Revenue Management Specialist Accounting and Finance 263,100 MVR
Revenue Recognition Analyst Accounting and Finance 308,300 MVR
Risk Management Director Accounting and Finance 378,300 MVR
Risk Management Supervisor Accounting and Finance 320,500 MVR
Staff Accountant Accounting and Finance 161,300 MVR
Tax Accountant Accounting and Finance 152,100 MVR
Tax Administrator Accounting and Finance 172,200 MVR
Tax Advisor Accounting and Finance 251,500 MVR
Tax Analyst Accounting and Finance 258,400 MVR
Tax Associate Accounting and Finance 138,800 MVR
Tax Consultant Accounting and Finance 251,500 MVR
Tax Director Accounting and Finance 375,200 MVR
Tax Examiner Accounting and Finance 180,300 MVR
Tax Manager Accounting and Finance 341,400 MVR
Tax Research Manager Accounting and Finance 317,700 MVR
Teller Accounting and Finance 95,420 MVR
Treasury Accountant Accounting and Finance 172,200 MVR
Treasury Analyst Accounting and Finance 273,300 MVR
Underwriter Accounting and Finance 112,660 MVR
Underwriting Assistant Accounting and Finance 108,080 MVR
Vice President of Finance Accounting and Finance 466,300 MVR

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