Who wants to see an offshore salary guide? Because we’ve got one for you today. It comes from TeamUp, a company that does direct hires for US, Canadian, and Australian firms hiring overseas, meaning they get people on firms’ actual staff rather than acting as a middleman.
You can guess where this is going based on the intro:
SaLaRy eXpEcTaTiOnS HaVe cLiMbEd sO HiGh tHaT ThEy oFtEn SiMpLY DoN’T WoRk. That’s it, we don’t want to hear another goddamn word about the accountant shortage. Not. One. Word.
Two notable items on the guide’s list of reasons why it’s smart to hire people in The Philippines:
Critical Mass of Talent
The Philippines has a critical mass of talent in accounting and finance. You can hire people with decades of experience, in addition to people just starting their careers.
You can hire general accountants or specialists, tax preparers, planners, strategists, analysts, controllers, and on and on. Because the pool is as deep as it is wide, you’re likely to find the right person for the job here.
Work Ethic
Filipino professionals bring energy and optimism to their work. Unlike many Western markets where it’s getting harder to find motivated people, they’re genuinely excited to learn, grow, and seize the opportunity to build their careers and better lives for their families.
And you don’t have to spend money on pizza parties!
Those of you who’ve been forced back into the office will like this part:
Enough of that though. Here are the salary numbers for a few positions.
Bookkeeper
| US Experience | Monthly Salary (Full-Time) |
| 1-3 Years | $1,100 – 1,400 USD |
| 3-5 Years | $1,400 – 1,700 USD |
| 5+ Years | $1,700 – 2,000 USD |
A brief profile of a recent bookkeeper hire with six years of accounting experience and three years of experience with a US accounting firm states their salary is $1,500 a month.
Senior Accountant
| US Experience | Monthly Salary |
| 5+ Years | $1,700 – 2,200+ USD |
“We’ve hired very high level accounting talent stateside. I have to say that our Philippine-based team is outperforming most of our US-based staff,” said a firm owner with at least one senior accountant over there.
Senior Tax Accountant
| US Experience | Monthly Salary (Full-Time) |
| 5+ Years | $2200 – 2800+ USD |
The candidate profile states a senior tax accountant with 20 years of accounting experience, which includes more than 8 years “specifically in US accounting firms focused on tax processes,” is making $2,700 a month.
Accounting Manager
| US Experience | Monthly Salary (Full-Time) |
| 3-5 Years | $2,200 – 2,600 USD |
| 5+ Years | $2,600 – 3,400+ USD |
And lastly, here’s a full chart of salary ranges for Philippines accountants with experience working with US and/or Canadian accounting. Mind you, one Philippine peso equals $0.017 in US dollars.
In the US, CFOs with 5-8 years’ experience earn around $421,168. Fun. No wonder firms are going crazy for this offshoring stuff.
Related (and coincidentally published exactly one year ago today):
Also related:
This should be a wakeup call to the lazy and whiny Millennials: you are replaceable.
Sounds good, can’t wait to see all the boomers complain about how their kids and grandkids (or lack of) refuse to take care of them because of how they pulled the ladder out after themselves after they burned down the economy for generations to come.
The “good men create good times, good times create weak men, and weak men create terrible times” really resonate so it looks like the sacrifices of the silent generation were for nothing and boomers ruined the party for everyone.
You know that millenials are all between 29-44 years old now, right Boomer?
Great to see a Boomer martyr was able to pry away from his adding machine and figure it out how to make a comment on the internet.
“tHeRe Is A sHoRtAgE oF aCcOuNtAnTs, We NeEd To ChArGe YoU mOrE”
It’s funny how now when you get a SOW or bill from your accountant they only show you the rate for staff through partner, they don’t even break out how much goes to India or any other place.
It’s fine if these firms use this labor, but the hourly or bill needs to be lowered, you can’t keep increasing the bill 2-8% a year….
Cool. Offshore is half price because you’ll be doing the work twice.