Average Fund Accountant Salary in Mongolia for 2024

In this article, we will look at the average Fund Accountant salary for 2024 in Mongolia 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 Mongolian tögrög. To keep things simple, we are using the MNT currency code instead of the currency symbol ₮.

How Much Does a Fund Accountant Make in Mongolia?

A Fund Accountant working in Mongolia will typically earn around 16,439,200 MNT per year, and this can range from the lowest average salary of about 7,882,800 MNT to the highest average salary of 25,801,200 MNT.

Average Annual Salary
16,439,200 MNT
Average Monthly Salary
1,369,933 MNT

Lowest Annual Salary
7,882,800 MNT
Lowest Monthly Salary
656,900 MNT

Highest Annual Salary
25,801,200 MNT
Highest Monthly Salary
2,150,100 MNT

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

Fund 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 Fund Accountant Salaries in Mongolia

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

Salary ranges

We already know that a Fund Accountant can earn between 7,882,800 MNT and 25,801,200 MNT on average in Mongolia. 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 Fund Accountant in Mongolia is 17,039,100 MNT. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 17,039,100 MNT, and 50% of the population earn more than 17,039,100 MNT.

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 Fund Accountant salary in Mongolia, 25% of the population are earning less than 11,245,700 MNT while 75% of the population earn more than 11,245,700 MNT.

75% of the population earn less than 22,321,900 MNT, and 25% of the population earn more than 22,321,900 MNT.

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.

Fund Accountant Salary by Experience Level in Mongolia

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 fund 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 Fund Accountant in Mongolia that has less than two years of experience can expect to earn somewhere in the region of 9,226,300 MNT.
  • 2 - 5 Years Experience. With two to five years of experience the average Fund Accountant salary would increase to 13,079,500 MNT.
  • 5 - 10 Years Experience. From five to ten years of experience as a Fund Accountant, the average salary would be 17,159,700 MNT.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 21,121,400 MNT.
  • 15 - 20 Years Experience. A Fund Accountant with 15 to 20 years of experience can earn an average of 22,441,700 MNT.
  • 20+ Years Experience. For a Fund Accountant with more than 20 years, the expected average salary increases to 24,599,500 MNT.

Average Salary by Experience Chart

0-2 Years
9,226,300 MNT
2-5 Years +42%
13,079,500 MNT
5-10 Years +31%
17,159,700 MNT
10-15 Years +23%
21,121,400 MNT
15-20 Years +6%
22,441,700 MNT
20+ Years +10%
24,599,500 MNT

Fund Accountant Salary by Education Level in Mongolia

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 Fund Accountant in Mongolia 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 Fund Accountant in Mongolia with a high school education can earn an average salary of 11,470,100 MNT.

  • Certificate or Diploma. A Fund Accountant in Mongolia with a certificate or diploma education can earn an average salary of 13,319,300 MNT.

  • Bachelor's Degree. A Fund Accountant in Mongolia with a bachelor's degree education can earn an average salary of 19,321,100 MNT.

  • Master's Degree. A Fund Accountant in Mongolia with a master's degree education can earn an average salary of 23,878,400 MNT.

Average Salary by Education Chart

High School
11,470,100 MNT
Certificate or Diploma +16%
13,319,300 MNT
Bachelor's Degree +46%
19,321,100 MNT
Master's Degree +23%
23,878,400 MNT

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 Mongolia is around 9,750,000 to 29,300,000 MNT 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.

Fund 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 Mongolia, a male fund accountant will earn an average of 17,039,100 MNT, while a female fund accountant will earn around 16,079,800 MNT.

This means that a male fund accountant earns approximately 6% more than a female fund accountant for performing the same job.

Average Salary by Gender Chart in Mongolia

Male
17,039,100 MNT
Female -6%
16,079,800 MNT

Fund Accountant Average Pay Raise in Mongolia

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 Fund Accountant in Mongolia is around 7% every 28 months.

The national average pay raise across all professions and industries in Mongolia 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 = ( 7 ÷ 28 ) × 12  = 3%

What this means is that a Fund Accountant in Mongolia can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Mongolia for 2024

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

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

Banking
8%
Energy
7%
Information Technology
6%
Healthcare
5%
Travel
4%
Construction
3%
Education
2%

Fund Accountant Bonus and Incentive Rates in Mongolia

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 Fund Accountant is a low bonus based job, with 39% of employees reporting at least one bonus in the last 12 months.

61% 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 3% to 6%.

Received Bonus
39%
No Bonus
61%

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 Mongolia earn approximately 18% more than private sector employees in the same role.

Public Sector
25,561,400 MNT
Private Sector -18%
21,719,900 MNT

Salaries for Jobs Similar to a Fund Accountant

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

Job Title Category Salary
Account Examiner Accounting and Finance 12,600,600 MNT
Account Executive Accounting and Finance 21,719,900 MNT
Accountant Accounting and Finance 15,599,800 MNT
Accounting Analyst Accounting and Finance 19,321,100 MNT
Accounting Assistant Accounting and Finance 12,721,300 MNT
Accounting Associate Accounting and Finance 11,543,100 MNT
Accounting Clerk Accounting and Finance 9,995,000 MNT
Accounting Coordinator Accounting and Finance 15,118,700 MNT
Accounting Head Accounting and Finance 34,319,800 MNT
Accounting Manager Accounting and Finance 34,799,800 MNT
Accounting Officer Accounting and Finance 12,239,700 MNT
Accounting Specialist Accounting and Finance 23,280,700 MNT
Accounting Supervisor Accounting and Finance 21,719,900 MNT
Accounting Technician Accounting and Finance 11,905,700 MNT
Accounting Unit Controller Accounting and Finance 27,601,100 MNT
Accounts Executive Accounting and Finance 20,639,100 MNT
Accounts Officer Accounting and Finance 12,721,300 MNT
Accounts Payable and Receivable Specialist Accounting and Finance 16,198,300 MNT
Accounts Payable Assistant Accounting and Finance 13,561,900 MNT
Accounts Payable Associate Accounting and Finance 15,238,200 MNT
Accounts Payable Clerk Accounting and Finance 12,721,300 MNT
Accounts Payable Manager Accounting and Finance 31,919,300 MNT
Accounts Receivable Administrator Accounting and Finance 25,321,400 MNT
Accounts Receivable Clerk Accounting and Finance 12,600,600 MNT
Accounts Receivable Financial Analyst Accounting and Finance 22,681,800 MNT
Accounts Receivable Manager Accounting and Finance 30,961,800 MNT
Accounts Receivable Team Leader Accounting and Finance 23,520,800 MNT
Assistant Accountant Accounting and Finance 12,958,200 MNT
Assistant Accounting Manager Accounting and Finance 29,519,900 MNT
Assistant Auditor Accounting and Finance 17,159,700 MNT
Assistant Corporate Controller Accounting and Finance 21,719,900 MNT
Assistant Finance Manager Accounting and Finance 35,758,400 MNT
Assistant Financial Controller Accounting and Finance 23,040,200 MNT
Audit Director Accounting and Finance 37,441,100 MNT
Audit Supervisor Accounting and Finance 29,519,900 MNT
Auditing Clerk Accounting and Finance 12,721,300 MNT
Auditing Manager Accounting and Finance 32,758,100 MNT
Billing Clerk Accounting and Finance 13,199,100 MNT
Billing Coordinator Accounting and Finance 14,880,300 MNT
Billing Specialist Accounting and Finance 18,239,400 MNT
Billing Supervisor Accounting and Finance 24,718,600 MNT
Bookkeeper Accounting and Finance 11,135,000 MNT
Bookkeeping Specialist Accounting and Finance 16,198,300 MNT
Budget Analyst Accounting and Finance 27,479,000 MNT
Budget Manager Accounting and Finance 34,319,800 MNT
Business Support Analyst Accounting and Finance 19,439,300 MNT
Capital Markets Associate Accounting and Finance 25,321,400 MNT
Cash Flow Analyst Accounting and Finance 23,759,100 MNT
Cash Management Manager Accounting and Finance 32,519,500 MNT
Cash Management Officer Accounting and Finance 19,678,200 MNT
Cashbook Clerk Accounting and Finance 11,207,800 MNT
Chartered Accountant Accounting and Finance 20,639,100 MNT
Chief Accountant Accounting and Finance 23,399,000 MNT
Collections Clerk Accounting and Finance 10,237,100 MNT
Collections Representative Accounting and Finance 14,158,800 MNT
Collections Specialist Accounting and Finance 16,799,900 MNT
Corporate Controller Accounting and Finance 25,079,200 MNT
Corporate Treasurer Accounting and Finance 31,440,200 MNT
Cost Accountant Accounting and Finance 16,198,300 MNT
Cost Accounting Manager Accounting and Finance 34,078,800 MNT
Cost Accounting Supervisor Accounting and Finance 27,118,300 MNT
Cost Analyst Accounting and Finance 25,919,400 MNT
Credit and Collection Manager Accounting and Finance 33,360,800 MNT
Credit and Collection Staff Accounting and Finance 12,958,200 MNT
Credit and Loans Officer Accounting and Finance 12,239,700 MNT
Credit Controller Accounting and Finance 21,841,900 MNT
Credit Manager Accounting and Finance 33,360,800 MNT
Debt Adviser Accounting and Finance 27,601,100 MNT
Debt Collector Accounting and Finance 12,721,300 MNT
Debtors Clerk Accounting and Finance 11,255,300 MNT
Debtors Controller Accounting and Finance 12,239,700 MNT
Deputy CFO Accounting and Finance 45,119,800 MNT
Deputy Head of Finance Accounting and Finance 44,398,300 MNT
Derivative Trader Accounting and Finance 27,118,300 MNT
Director of Finance Accounting and Finance 50,158,700 MNT
Economist Accounting and Finance 39,481,900 MNT
Equity Analyst Accounting and Finance 30,360,800 MNT
Escrow Assistant Accounting and Finance 14,880,300 MNT
Executive Accountant Accounting and Finance 18,359,600 MNT
External Auditor Accounting and Finance 23,040,200 MNT
Finance Administrator Accounting and Finance 18,479,600 MNT
Finance Analyst Accounting and Finance 31,201,500 MNT
Finance Associate Accounting and Finance 14,400,800 MNT
Finance Director Accounting and Finance 50,878,500 MNT
Finance Executive Accounting and Finance 34,919,600 MNT
Finance Licensing Clerk Accounting and Finance 11,399,200 MNT
Finance Licensing Manager Accounting and Finance 31,559,900 MNT
Finance Licensing Specialist Accounting and Finance 18,598,500 MNT
Finance Manager Accounting and Finance 45,719,900 MNT
Finance Officer Accounting and Finance 15,719,900 MNT
Finance President Accounting and Finance 48,239,000 MNT
Finance Relationship Manager Accounting and Finance 39,481,900 MNT
Finance Release Analyst Accounting and Finance 19,439,300 MNT
Finance Specialist Accounting and Finance 28,200,200 MNT
Finance Team Leader Accounting and Finance 37,800,500 MNT
Financial Accountant Accounting and Finance 16,439,200 MNT
Financial Actuary Accounting and Finance 25,321,400 MNT
Financial Administrator Accounting and Finance 27,479,000 MNT
Financial Advisor Accounting and Finance 29,161,000 MNT
Financial Analyst Accounting and Finance 30,119,100 MNT
Financial Applications Specialist Accounting and Finance 21,478,100 MNT
Financial Assistant Accounting and Finance 13,079,500 MNT
Financial Associate Accounting and Finance 12,958,200 MNT
Financial Associate Accounting and Finance 16,079,800 MNT
Financial Claims Analyst Accounting and Finance 22,799,000 MNT
Financial Claims Manager Accounting and Finance 28,560,900 MNT
Financial Claims Supervisor Accounting and Finance 27,721,300 MNT
Financial Clerk Accounting and Finance 12,239,700 MNT
Financial Commercial Analyst Accounting and Finance 23,040,200 MNT
Financial Compliance Analyst Accounting and Finance 26,158,200 MNT
Financial Consultant Accounting and Finance 21,719,900 MNT
Financial Controller Accounting and Finance 26,520,600 MNT
Financial Controller Accounting and Finance 26,880,900 MNT
Financial Coordinator Accounting and Finance 15,838,200 MNT
Financial Customer Service Manager Accounting and Finance 30,479,000 MNT
Financial Dealer and Broker Accounting and Finance 17,278,100 MNT
Financial Director Accounting and Finance 46,800,400 MNT
Financial Encoder Accounting and Finance 13,919,600 MNT
Financial Manager Accounting and Finance 44,040,700 MNT
Financial Operations Manager Accounting and Finance 41,040,700 MNT
Financial Policy Analyst Accounting and Finance 24,478,500 MNT
Financial Project Manager Accounting and Finance 35,398,900 MNT
Financial Quantitative Analyst Accounting and Finance 28,801,400 MNT
Financial Reporting Consultant Accounting and Finance 24,000,900 MNT
Financial Reporting Manager Accounting and Finance 30,240,200 MNT
Financial Section Head Accounting and Finance 31,678,800 MNT
Financial Services Manager Accounting and Finance 41,878,100 MNT
Financial Services Sales Agent Accounting and Finance 18,239,400 MNT
Fixed Assets Administrator Accounting and Finance 16,799,900 MNT
Forensic Accountant Accounting and Finance 19,921,600 MNT
Fraud Detection Supervisor Accounting and Finance 19,439,300 MNT
Fraud Prevention Manager Accounting and Finance 33,599,200 MNT
Grants Coordinator Accounting and Finance 11,878,500 MNT
Group Financial Manager Accounting and Finance 45,839,700 MNT
Internal Auditor Accounting and Finance 22,918,100 MNT
Internal Control Adviser Accounting and Finance 24,841,800 MNT
Internal Control Officer Accounting and Finance 14,400,800 MNT
International Tax Director Accounting and Finance 38,760,100 MNT
Inventory Accountant Accounting and Finance 17,159,700 MNT
Investment Advisor Accounting and Finance 43,438,200 MNT
Investment Analyst Accounting and Finance 33,481,400 MNT
Investment Associate Accounting and Finance 27,721,300 MNT
Investment Broker Accounting and Finance 26,880,900 MNT
Investment Fund Manager Accounting and Finance 38,521,100 MNT
Investment Operations Manager Accounting and Finance 37,318,700 MNT
Investment Underwriter Accounting and Finance 13,919,600 MNT
Investor Accounting and Finance 20,518,900 MNT
Investor Relations Manager Accounting and Finance 33,360,800 MNT
KYC Team Leader Accounting and Finance 32,161,000 MNT
Loan Processor Accounting and Finance 13,561,900 MNT
Management Accountant Accounting and Finance 18,720,200 MNT
Management Economist Accounting and Finance 38,641,600 MNT
Paymaster Accounting and Finance 12,841,200 MNT
Payroll Administrator Accounting and Finance 21,478,100 MNT
Payroll Benefits Coordinator Accounting and Finance 18,121,700 MNT
Payroll Billing Manager Accounting and Finance 31,201,500 MNT
Payroll Clerk Accounting and Finance 14,760,200 MNT
Payroll Manager Accounting and Finance 29,278,200 MNT
Payroll Officer Accounting and Finance 14,038,300 MNT
Payroll Specialist Accounting and Finance 17,519,700 MNT
Payroll Supervisor Accounting and Finance 21,361,700 MNT
Pensions Administrator Accounting and Finance 17,519,700 MNT
Personal Financial Advisor Accounting and Finance 24,000,900 MNT
Pricing Analyst Accounting and Finance 26,520,600 MNT
Private Equity Analyst Accounting and Finance 30,721,900 MNT
Project Accountant Accounting and Finance 17,640,500 MNT
Proposal Development Coordinator Accounting and Finance 14,760,200 MNT
Receivables Accountant Accounting and Finance 14,639,900 MNT
Regulatory Accountant Accounting and Finance 18,239,400 MNT
Retirement Plan Analyst Accounting and Finance 25,079,200 MNT
Revenue Management Specialist Accounting and Finance 27,361,200 MNT
Revenue Recognition Analyst Accounting and Finance 31,081,900 MNT
Risk Management Director Accounting and Finance 39,119,300 MNT
Risk Management Supervisor Accounting and Finance 33,599,200 MNT
Staff Accountant Accounting and Finance 15,838,200 MNT
Tax Accountant Accounting and Finance 15,360,400 MNT
Tax Administrator Accounting and Finance 18,598,500 MNT
Tax Advisor Accounting and Finance 24,841,800 MNT
Tax Analyst Accounting and Finance 25,919,400 MNT
Tax Associate Accounting and Finance 14,400,800 MNT
Tax Consultant Accounting and Finance 25,440,400 MNT
Tax Director Accounting and Finance 38,641,600 MNT
Tax Examiner Accounting and Finance 17,159,700 MNT
Tax Manager Accounting and Finance 32,758,100 MNT
Tax Research Manager Accounting and Finance 34,198,600 MNT
Teller Accounting and Finance 9,409,200 MNT
Treasury Accountant Accounting and Finance 17,278,100 MNT
Treasury Analyst Accounting and Finance 26,399,200 MNT
Underwriter Accounting and Finance 11,998,600 MNT
Underwriting Assistant Accounting and Finance 10,691,100 MNT
Vice President of Finance Accounting and Finance 43,198,900 MNT

Salary Comparison by City

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

City Average Salary
Ulan Bator 17,519,700 MNT

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