Finance and accounting salaries in Joburg vs Cape Town in 2018
A salary survey by finance and accounting recruitment group, Smith Garb, shows what employees in the financial sector can expect to earn in jobs in Gauteng in 2018.
The group’s data covers 41 positions in the finance sector, from chief financial officer at JSE-listed companies, all the way to a debtors clerk.
These roles are shown in the table below. The salaries a packages that include cost to company, and exclude bonuses. Smith Garb said the salaries can change quite drastically depending on the size of the company.
| Position | Bottom | Top | Average |
|---|---|---|---|
| Chief financial officer (listed) | R2 500 000 | R3 800 000 | R3 150 000 |
| Financial director (non-listed) | R1 600 000 | R2 500 000 | R2 050 000 |
| Financial director (SME) | R1 500 000 | R2 000 000 | R1 750 000 |
| Senior / Group financial manager | R900 000 | R1 700 000 | R1 300 000 |
| Senior internal audit manager | R900 000 | R1 400 000 | R1 150 000 |
| Financial planning analyst manager | R850 000 | R1 300 000 | R1 075 000 |
| Financial manager | R700 000 | R1 200 000 | R950 000 |
| Financial analyst (junior and senior) | R450 000 | R1 200 000 | R825 000 |
| Manager cost and management accountant | R650 000 | R950 000 | R800 000 |
| Management accountant | R500 000 | R800 000 | R650 000 |
| CA qualified (3-5 years) | R700 000 | R950 000 | R825 000 |
| CA qualified (1-3 years) | R650 000 | R900 000 | R775 000 |
| CA newly qualified | R500 000 | R620 000 | R560 000 |
| Group tax manager | R900 000 | R1 300 000 | R1 100 000 |
| Tax manager | R650 000 | R900 000 | R775 000 |
| Tax accountant | R480 000 | R700 000 | R590 000 |
| Group treasury manager | R800 000 | R1 300 000 | R1 050 000 |
| Treasury accountant / manager | R420 000 | R900 000 | R660 000 |
| Group / National credit manager | R500 000 | R1 000 000 | R750 000 |
| Payroll manager | R450 000 | R900 000 | R675 000 |
| Payroll administrator | R360 000 | R500 000 | R430 000 |
| Costing manager | R700 000 | R900 000 | R800 000 |
| Senior cost analyst | R540 000 | R800 000 | R670 000 |
| Cost accountant | R420 000 | R600 000 | R510 000 |
| Costing clerk | R240 000 | R400 000 | R320 000 |
| Senior accountant | R400 000 | R750 000 | R575 000 |
| Internal auditor | R400 000 | R700 000 | R550 000 |
| Finance accountant | R420 000 | R540 000 | R480 000 |
| Accountant (general) | R240 000 | R450 000 | R345 000 |
| Accountant (Honours degree) | R360 000 | R420 000 | R390 000 |
| Junior accountant | R240 000 | R360 000 | R300 000 |
| Bookkeeper to balance sheet | R300 000 | R420 000 | R360 000 |
| Bookkeeper to trial balance | R220 000 | R300 000 | R260 000 |
| Junior bookkeeper | R180 000 | R240 000 | R210 000 |
| Credit supervisor | R300 000 | R480 000 | R390 000 |
| Credit control | R300 000 | R480 000 | R390 000 |
| Credit controller | R180 000 | R420 000 | R300 000 |
| Cashbook clerk | R180 000 | R300 000 | R240 000 |
| Creditors clerk | R180 000 | R300 000 | R240 000 |
| Treasury clerk | R190 000 | R280 000 | R235 000 |
| Debtors clerk | R150 000 | R180 000 | R165 000 |
In the last quarter of 2017, CareerJunction published its salary review, which provides insight into salary variations between the major cities. The group’s data generally lines up with Smith Garb’s, particularly in specific categories, like CAs, bookkeepers and cost accounting.
The table below extrapolates CareerJunction’s data, expressing as an average annual salary, taking into account the entire range of experience (starting to senior).
According to CareerJunction, in the finance category salaries in Gauteng are 6.5% higher than the national average, while salaries in the Western Cape are significantly lower (as much as22% lower), while KwaZulu-Natal’s salaries are 5% lower.
The data below is particularly pertinent when measuring salaries between Gauteng and the Western Cape as the latter is sugbject to quite a lot of ‘semigration’, and has also attracted a number of fintech related start-ups in recent years.
Finance jobs – GP vs WC vs KZN
| Job | GP Salary | WC Salary | KZN Salary |
|---|---|---|---|
| Regional Variation | +6.5% | -22.0% | -5.0% |
| Accounts Payable and Receivable | R299 280 | R219 180 | R267 000 |
| Bookkeeping | R244 320 | R178 920 | R217 920 |
| Financial/Project Accounting | R517 560 | R379 080 | R461 700 |
| Cost and Management Accounting | R642 600 | R470 640 | R573 240 |
| Chartered Accounting | R695 280 | R509 220 | R620 160 |
| Internal Auditing | R430 560 | R315 360 | R384 120 |
| Payroll and Wages | R257 820 | R188 880 | R229 980 |
| Purchasing and Procurement | R366 480 | R268 320 | R326 880 |
| Taxation | R521 520 | R381 960 | R465 240 |
| Corporate Lending | R553 680 | R405 480 | R493 920 |
| Credit Management | R373 440 | R273 480 | R333 120 |
| Debt, Rent/Cash Collection | R211 200 | R154 680 | R188 400 |
| Financial Analysis | R649 560 | R475 680 | R579 360 |
| Risk Management | R460 560 | R337 320 | R410 880 |
| Investment Management | R462 240 | R338 520 | R412 320 |
| Asset Management | R525 000 | R384 480 | R468 240 |
| Portfolio Management | R442 440 | R324 000 | R394 680 |
| Treasury Management | R469 080 | R343 560 | R418 440 |
| Actuarial Management and Administration | R501 240 | R367 140 | R447 120 |
| Risk Assessment | R392 520 | R287 460 | R350 100 |
| Claims Assessment | R299 400 | R219 300 | R267 120 |
| Financial Management | R813 840 | R596 040 | R726 000 |
Read: Ramaphosa’s presidential salary vs other world leaders
Loading ...