Average Cost Accountant Salary in Morocco for 2024

In this article, we will look at the average Cost Accountant salary for 2024 in Morocco 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 Moroccan dirham. To keep things simple, we are using the MAD currency code instead of the currency symbol ุฏ.ู…..

How Much Does a Cost Accountant Make in Morocco?

A Cost Accountant working in Morocco will typically earn around 161,600 MAD per year, and this can range from the lowest average salary of about 78,420 MAD to the highest average salary of 257,700 MAD.

Average Annual Salary
161,600 MAD
Average Monthly Salary
13,466 MAD

Lowest Annual Salary
78,420 MAD
Lowest Monthly Salary
6,535 MAD

Highest Annual Salary
257,700 MAD
Highest Monthly Salary
21,475 MAD

These are average salaries for a Cost Accountant in Morocco and include benefits such as housing and transport. It's also possible for a Cost Accountant to earn more or less than the average salaries shown above.

Cost Accountant 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 Cost Accountant Salaries in Morocco

So we've looked at the average salaries a Cost Accountant will earn in Morocco. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Cost Accountant can earn between 78,420 MAD and 257,700 MAD on average in Morocco. 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 a Cost Accountant in Morocco is 172,200 MAD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 172,200 MAD, and 50% of the population earn more than 172,200 MAD.

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 Cost Accountant salary in Morocco, 25% of the population are earning less than 113,280 MAD while 75% of the population earn more than 113,280 MAD.

75% of the population earn less than 228,000 MAD, and 25% of the population earn more than 228,000 MAD.

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.

Cost Accountant Salary by Experience Level in Morocco

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 cost accountant 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. A Cost Accountant in Morocco that has less than two years of experience can expect to earn somewhere in the region of 89,280 MAD.
  • 2 - 5 Years Experience. With two to five years of experience the average Cost Accountant salary would increase to 123,400 MAD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Cost Accountant, the average salary would be 172,200 MAD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 210,500 MAD.
  • 15 - 20 Years Experience. A Cost Accountant with 15 to 20 years of experience can earn an average of 225,700 MAD.
  • 20+ Years Experience. For a Cost Accountant with more than 20 years, the expected average salary increases to 243,000 MAD.

Average Salary by Experience Chart

0-2 Years
89,280 MAD
2-5 Years +38%
123,400 MAD
5-10 Years +42%
172,200 MAD
10-15 Years +22%
210,500 MAD
15-20 Years +6%
225,700 MAD
20+ Years +9%
243,000 MAD

Cost Accountant Salary by Education Level in Morocco

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 a Cost Accountant in Morocco based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Cost Accountant in Morocco with a high school education can earn an average salary of 107,880 MAD.

  • Certificate or Diploma. A Cost Accountant in Morocco with a certificate or diploma education can earn an average salary of 125,700 MAD.

  • Bachelor's Degree. A Cost Accountant in Morocco with a bachelor's degree education can earn an average salary of 187,500 MAD.

  • Master's Degree. A Cost Accountant in Morocco with a master's degree education can earn an average salary of 243,000 MAD.

Average Salary by Education Chart

High School
107,880 MAD
Certificate or Diploma +17%
125,700 MAD
Bachelor's Degree +45%
187,500 MAD
Master's Degree +31%
243,000 MAD

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 Morocco is around 97,100 to 291,000 MAD 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.

Cost Accountant 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 Morocco, a male cost accountant will earn an average of 176,800 MAD, while a female cost accountant will earn around 152,300 MAD.

This means that a male cost accountant earns approximately 16% more than a female cost accountant for performing the same job.

Average Salary by Gender Chart in Morocco

Male
176,800 MAD
Female -16%
152,300 MAD

Cost Accountant Average Pay Raise in Morocco

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 a Cost Accountant in Morocco is around 12% every 16 months.

The national average pay raise across all professions and industries in Morocco is around 9% every 17 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 = ( 12 ÷ 16 ) × 12  = 9%

What this means is that a Cost Accountant in Morocco can expect to receive an average pay raise of around 9% every 12 months.

Annual Pay Raise by Industry in Morocco for 2024

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

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

Banking
2%
Energy
4%
Information Technology
6%
Healthcare
8%
Travel
1%
Construction
3%
Education
5%

Cost Accountant Bonus and Incentive Rates in Morocco

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.

A Cost Accountant is a moderate bonus based job, with 57% of employees reporting at least one bonus in the last 12 months.

43% 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 2% to 7%.

Received Bonus
57%
No Bonus
43%

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

Public Sector
239,300 MAD
Private Sector -8%
222,300 MAD

Salaries for Jobs Similar to a Cost Accountant

In the table below, we have salary information for jobs that are similar to a Cost Accountant in Morocco.

Job Title Category Salary
Account Examiner Accounting and Finance 124,400 MAD
Account Executive Accounting and Finance 215,100 MAD
Accountant Accounting and Finance 152,300 MAD
Accounting Analyst Accounting and Finance 196,800 MAD
Accounting Assistant Accounting and Finance 127,700 MAD
Accounting Associate Accounting and Finance 125,100 MAD
Accounting Clerk Accounting and Finance 98,540 MAD
Accounting Coordinator Accounting and Finance 150,000 MAD
Accounting Head Accounting and Finance 340,400 MAD
Accounting Manager Accounting and Finance 345,700 MAD
Accounting Officer Accounting and Finance 125,100 MAD
Accounting Specialist Accounting and Finance 214,000 MAD
Accounting Supervisor Accounting and Finance 233,900 MAD
Accounting Technician Accounting and Finance 110,380 MAD
Accounting Unit Controller Accounting and Finance 279,400 MAD
Accounts Executive Accounting and Finance 205,700 MAD
Accounts Officer Accounting and Finance 128,500 MAD
Accounts Payable and Receivable Specialist Accounting and Finance 161,300 MAD
Accounts Payable Assistant Accounting and Finance 128,900 MAD
Accounts Payable Associate Accounting and Finance 150,000 MAD
Accounts Payable Clerk Accounting and Finance 125,700 MAD
Accounts Payable Manager Accounting and Finance 317,700 MAD
Accounts Receivable Administrator Accounting and Finance 237,400 MAD
Accounts Receivable Clerk Accounting and Finance 127,700 MAD
Accounts Receivable Financial Analyst Accounting and Finance 228,500 MAD
Accounts Receivable Manager Accounting and Finance 311,700 MAD
Accounts Receivable Team Leader Accounting and Finance 247,800 MAD
Assistant Accountant Accounting and Finance 125,100 MAD
Assistant Accounting Manager Accounting and Finance 301,300 MAD
Assistant Auditor Accounting and Finance 168,100 MAD
Assistant Corporate Controller Accounting and Finance 227,600 MAD
Assistant Finance Manager Accounting and Finance 341,900 MAD
Assistant Financial Controller Accounting and Finance 217,900 MAD
Audit Director Accounting and Finance 361,500 MAD
Audit Supervisor Accounting and Finance 301,600 MAD
Auditing Clerk Accounting and Finance 128,500 MAD
Auditing Manager Accounting and Finance 340,000 MAD
Billing Clerk Accounting and Finance 125,100 MAD
Billing Coordinator Accounting and Finance 152,300 MAD
Billing Specialist Accounting and Finance 164,200 MAD
Billing Supervisor Accounting and Finance 257,700 MAD
Bookkeeper Accounting and Finance 103,580 MAD
Bookkeeping Specialist Accounting and Finance 152,100 MAD
Budget Analyst Accounting and Finance 290,800 MAD
Budget Manager Accounting and Finance 327,800 MAD
Business Support Analyst Accounting and Finance 187,300 MAD
Capital Markets Associate Accounting and Finance 246,500 MAD
Cash Flow Analyst Accounting and Finance 249,600 MAD
Cash Management Manager Accounting and Finance 312,400 MAD
Cash Management Officer Accounting and Finance 190,500 MAD
Cashbook Clerk Accounting and Finance 113,780 MAD
Chartered Accountant Accounting and Finance 197,600 MAD
Chief Accountant Accounting and Finance 240,500 MAD
Collections Clerk Accounting and Finance 101,020 MAD
Collections Representative Accounting and Finance 148,300 MAD
Collections Specialist Accounting and Finance 163,800 MAD
Corporate Controller Accounting and Finance 249,600 MAD
Corporate Treasurer Accounting and Finance 309,800 MAD
Cost Accounting Manager Accounting and Finance 335,100 MAD
Cost Accounting Supervisor Accounting and Finance 259,100 MAD
Cost Analyst Accounting and Finance 254,700 MAD
Credit and Collection Manager Accounting and Finance 315,900 MAD
Credit and Collection Staff Accounting and Finance 128,500 MAD
Credit and Loans Officer Accounting and Finance 119,900 MAD
Credit Controller Accounting and Finance 239,000 MAD
Credit Manager Accounting and Finance 330,700 MAD
Debt Adviser Accounting and Finance 277,400 MAD
Debt Collector Accounting and Finance 129,000 MAD
Debtors Clerk Accounting and Finance 108,080 MAD
Debtors Controller Accounting and Finance 125,100 MAD
Deputy CFO Accounting and Finance 430,500 MAD
Deputy Head of Finance Accounting and Finance 426,700 MAD
Derivative Trader Accounting and Finance 294,700 MAD
Director of Finance Accounting and Finance 476,600 MAD
Economist Accounting and Finance 366,200 MAD
Equity Analyst Accounting and Finance 288,100 MAD
Escrow Assistant Accounting and Finance 150,000 MAD
Executive Accountant Accounting and Finance 192,600 MAD
External Auditor Accounting and Finance 238,900 MAD
Finance Administrator Accounting and Finance 195,200 MAD
Finance Analyst Accounting and Finance 308,900 MAD
Finance Associate Accounting and Finance 138,200 MAD
Finance Director Accounting and Finance 492,400 MAD
Finance Executive Accounting and Finance 361,500 MAD
Finance Licensing Clerk Accounting and Finance 115,260 MAD
Finance Licensing Manager Accounting and Finance 320,500 MAD
Finance Licensing Specialist Accounting and Finance 172,400 MAD
Finance Manager Accounting and Finance 442,300 MAD
Finance Officer Accounting and Finance 159,500 MAD
Finance President Accounting and Finance 487,600 MAD
Finance Relationship Manager Accounting and Finance 369,300 MAD
Finance Release Analyst Accounting and Finance 183,700 MAD
Finance Specialist Accounting and Finance 275,200 MAD
Finance Team Leader Accounting and Finance 372,600 MAD
Financial Accountant Accounting and Finance 168,100 MAD
Financial Actuary Accounting and Finance 251,500 MAD
Financial Administrator Accounting and Finance 275,800 MAD
Financial Advisor Accounting and Finance 282,500 MAD
Financial Analyst Accounting and Finance 308,300 MAD
Financial Applications Specialist Accounting and Finance 197,600 MAD
Financial Assistant Accounting and Finance 134,600 MAD
Financial Associate Accounting and Finance 136,100 MAD
Financial Associate Accounting and Finance 158,700 MAD
Financial Claims Analyst Accounting and Finance 218,900 MAD
Financial Claims Manager Accounting and Finance 307,400 MAD
Financial Claims Supervisor Accounting and Finance 268,900 MAD
Financial Clerk Accounting and Finance 125,700 MAD
Financial Commercial Analyst Accounting and Finance 228,500 MAD
Financial Compliance Analyst Accounting and Finance 267,100 MAD
Financial Consultant Accounting and Finance 208,600 MAD
Financial Controller Accounting and Finance 251,500 MAD
Financial Controller Accounting and Finance 263,200 MAD
Financial Coordinator Accounting and Finance 151,800 MAD
Financial Customer Service Manager Accounting and Finance 301,700 MAD
Financial Dealer and Broker Accounting and Finance 175,900 MAD
Financial Director Accounting and Finance 467,700 MAD
Financial Encoder Accounting and Finance 142,300 MAD
Financial Manager Accounting and Finance 437,300 MAD
Financial Manager Accounting and Finance 447,300 MAD
Financial Operations Manager Accounting and Finance 407,300 MAD
Financial Policy Analyst Accounting and Finance 254,800 MAD
Financial Project Manager Accounting and Finance 349,300 MAD
Financial Quantitative Analyst Accounting and Finance 271,300 MAD
Financial Reporting Consultant Accounting and Finance 246,200 MAD
Financial Reporting Manager Accounting and Finance 315,700 MAD
Financial Section Head Accounting and Finance 312,400 MAD
Financial Services Manager Accounting and Finance 424,900 MAD
Financial Services Sales Agent Accounting and Finance 172,200 MAD
Fixed Assets Administrator Accounting and Finance 168,100 MAD
Forensic Accountant Accounting and Finance 187,300 MAD
Fraud Detection Supervisor Accounting and Finance 191,600 MAD
Fraud Prevention Manager Accounting and Finance 335,800 MAD
Fund Accountant Accounting and Finance 150,000 MAD
Grants Coordinator Accounting and Finance 125,700 MAD
Group Financial Manager Accounting and Finance 455,400 MAD
Internal Auditor Accounting and Finance 215,100 MAD
Internal Control Adviser Accounting and Finance 246,500 MAD
Internal Control Officer Accounting and Finance 142,300 MAD
International Tax Director Accounting and Finance 392,300 MAD
Inventory Accountant Accounting and Finance 174,000 MAD
Investment Advisor Accounting and Finance 436,200 MAD
Investment Analyst Accounting and Finance 340,000 MAD
Investment Associate Accounting and Finance 275,200 MAD
Investment Broker Accounting and Finance 273,300 MAD
Investment Fund Manager Accounting and Finance 381,800 MAD
Investment Operations Manager Accounting and Finance 378,300 MAD
Investment Underwriter Accounting and Finance 137,400 MAD
Investor Accounting and Finance 212,500 MAD
Investor Relations Manager Accounting and Finance 315,700 MAD
KYC Team Leader Accounting and Finance 318,800 MAD
Loan Processor Accounting and Finance 138,200 MAD
Management Accountant Accounting and Finance 174,000 MAD
Management Economist Accounting and Finance 365,400 MAD
Paymaster Accounting and Finance 125,700 MAD
Payroll Administrator Accounting and Finance 221,500 MAD
Payroll Benefits Coordinator Accounting and Finance 180,500 MAD
Payroll Billing Manager Accounting and Finance 311,700 MAD
Payroll Clerk Accounting and Finance 139,100 MAD
Payroll Manager Accounting and Finance 301,600 MAD
Payroll Officer Accounting and Finance 138,800 MAD
Payroll Specialist Accounting and Finance 176,800 MAD
Payroll Supervisor Accounting and Finance 200,000 MAD
Pensions Administrator Accounting and Finance 164,200 MAD
Personal Financial Advisor Accounting and Finance 247,800 MAD
Pricing Analyst Accounting and Finance 273,000 MAD
Private Equity Analyst Accounting and Finance 297,000 MAD
Project Accountant Accounting and Finance 174,000 MAD
Proposal Development Coordinator Accounting and Finance 138,200 MAD
Receivables Accountant Accounting and Finance 150,000 MAD
Regulatory Accountant Accounting and Finance 189,300 MAD
Retirement Plan Analyst Accounting and Finance 249,600 MAD
Revenue Management Specialist Accounting and Finance 275,200 MAD
Revenue Recognition Analyst Accounting and Finance 294,700 MAD
Risk Management Director Accounting and Finance 409,000 MAD
Risk Management Supervisor Accounting and Finance 317,700 MAD
Staff Accountant Accounting and Finance 157,600 MAD
Tax Accountant Accounting and Finance 159,400 MAD
Tax Administrator Accounting and Finance 180,300 MAD
Tax Advisor Accounting and Finance 238,900 MAD
Tax Analyst Accounting and Finance 249,600 MAD
Tax Associate Accounting and Finance 136,200 MAD
Tax Consultant Accounting and Finance 275,200 MAD
Tax Director Accounting and Finance 377,200 MAD
Tax Examiner Accounting and Finance 167,100 MAD
Tax Manager Accounting and Finance 344,600 MAD
Tax Research Manager Accounting and Finance 327,800 MAD
Teller Accounting and Finance 99,460 MAD
Treasury Accountant Accounting and Finance 172,200 MAD
Treasury Analyst Accounting and Finance 266,000 MAD
Underwriter Accounting and Finance 117,520 MAD
Underwriting Assistant Accounting and Finance 106,740 MAD
Vice President of Finance Accounting and Finance 430,000 MAD

Salary Comparison by City

If you want to compare salaries with different cities in Morocco, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Agadir 151,800 MAD
Casablanca 187,300 MAD
Marrakech 161,300 MAD
Rabat 150,000 MAD
Tangier 163,800 MAD

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