The finance industry in the Philippines is an ever-growing and in-demand sector. With various finance jobs available, it’s important to have a clear understanding of what each job entails and what kind of salary you can expect. Now we will delve into the salaries of finance jobs in the Philippines, factors affecting salaries, and education and training that boosts finance job salaries.
Finance Jobs in the Philippines
There are various finance jobs available in the Philippines, each with their own responsibilities and salary range. Common finance jobs include:
- Data Analyst
- Account Officer
- Senior Financial Analyst
- Finance Manager
- FP&A Analyst
- Finance and Accounting Manager
- Finance Officer/Data Analyst
- Finance Supervisor
- Finance Analyst
- Account Management Sales Specialist
- Finance Representative
- Finance and Admin Manager
- General Accountant
- Accounting Associate
- Finance Specialist
Common Finance Jobs with Salaries
|Data Analyst||₱277k – ₱887k|
|Accountant||₱178k – ₱730k|
|Accounting Officer||₱19,000 to ₱29,000|
|Software Engineer||₱305k – ₱1m|
|Operations Manager||₱470k – ₱2m|
|Senior Financial Analyst||₱58k – ₱675k|
|Customer Service Representative (CSR)||₱30k – ₱365k|
|Finance Manager||₱60K – ₱80K|
|FP&A Analyst||₱60K – ₱70K|
|Finance and Accounting Manager||₱30K – ₱60K|
|Finance Assistant||₱30K – ₱32K|
|Finance Supervisor||₱29k – ₱38k|
|Finance Analyst||₱223k – ₱873k|
|Account Management Sales Specialist||₱20K – ₱22K|
|Finance and Admin Manager||₱30K – ₱80K|
|General Accountant||₱15K – ₱25K|
|Accounting Associate||₱18K – ₱24K|
Salary Range of Finance Jobs in the Philippines
The salary range of finance jobs in the Philippines varies depending on the job title and level of experience. According to the JobStreet 2020 Salary Report, the average salary for finance jobs in the Philippines ranges from ₱15,000 to ₱ 984,812 per month.
Factors that affect finance job salaries include education level, certifications, work experience, and location. However, it’s important to note that salary ranges may also differ depending on the region. Metro Manila typically offers higher salary ranges due to the high cost of living and demand for finance professionals.
Factors affecting Salary Differences among Regions
Several factors can affect salary differences among regions in the Philippines. Here are some of the common ones:
- Cost of Living: The cost of living can vary significantly between different regions of the Philippines. For instance, Metro Manila has a higher cost of living compared to other regions, which can drive up salaries in the finance industry to compensate for the higher living costs.
- Supply and Demand: The demand for finance professionals may vary depending on the region. Some regions may have a higher demand for certain finance jobs due to the presence of more businesses or industries, while others may have a smaller demand. This can affect the salaries offered in each region.
- Local Economic Conditions: The local economy can also affect the salaries offered in different regions. Regions with a more robust economy and a thriving business sector may offer higher salaries to attract and retain finance professionals.
- Competition: Competition among finance firms in a region can also affect the salaries offered to finance professionals. For instance, if several finance firms are competing for the same talent pool in a particular region, they may need to offer higher salaries to attract the best candidates.
Education that Boosts Finance Job Salaries
One of the best ways for finance professionals to increase their earning potential is by investing in their education. In the Philippines, there are several educational programs that can boost finance job salaries, such as:
- Bachelor’s degree in Finance or Accounting: This degree provides a solid foundation in financial management, accounting principles, and financial analysis, which are highly valued in the finance industry.
- Master’s degree in Business Administration (MBA) or Finance: This degree provides advanced training in financial management, investment analysis, and business strategy, which can lead to higher-paying executive positions in the finance industry.
- Other relevant courses in finance or business: Finance professionals can also take relevant courses in finance or business, such as risk management, financial modeling, or corporate finance, to enhance their skills and knowledge in specific areas of finance.
Certifications that Boost Finance Job Salaries
Certifications are another way for finance professionals to increase their earning potential. In the Philippines, some of the most highly regarded certifications in the finance industry include:
- Chartered Financial Analyst (CFA): This certification is recognized globally and demonstrates expertise in investment analysis, portfolio management, and ethical standards in finance.
- Certified Public Accountant (CPA): This certification is highly valued in the accounting and finance industry and demonstrates expertise in accounting principles, financial reporting, and tax regulations.
- Certified Management Accountant (CMA): This certification is designed for finance professionals who specialize in management accounting and demonstrates expertise in financial planning, analysis, and control.
Training Courses that Boost Finance Job Salaries
Training courses can also help finance professionals increase their earning potential. In the Philippines, some of the most highly regarded training courses in the finance industry include:
- Financial Modeling: This course provides hands-on training in financial modeling techniques and helps finance professionals develop the skills needed to create financial models that support investment decisions.
- Advanced Excel: This course provides advanced training in Excel, which is a critical tool in finance. Finance professionals who have advanced Excel skills are highly valued in the industry.
- Data Analysis and Visualization: This course provides training in data analysis and visualization tools, such as Tableau, which are increasingly important in the finance industry.
Employers in the finance industry should also strive to provide fair compensation and benefits packages to their employees, in order to attract and retain top talent. Additionally, efforts should be made to address the gender pay gap and ensure that all employees are paid fairly and equitably.
Overall, while there are challenges facing finance professionals in the Philippines when it comes to salaries, there are also opportunities for growth and advancement. By continually developing skills and seeking out new opportunities, and by working to ensure fair compensation and benefits, both employees and employers can contribute to a thriving finance industry in the country. – WhatALife!/Jayve
Also read: LIST: IT Salaries in the Philippines
Leave a Reply