The salaries that top finance and accounting professionals can expect to earn in 2019

Specialist recruitment firm, Michael Page, has published its latest salary survey – showing what skilled professionals in 164 different jobs in South Africa can expect to earn in 2019.

The salary information is based on Michael Page’s extensive recruitment database, which covers more than 1,000 job roles, and over 100,000 candidates.

According to the recruiter, the South African labour market has once again been unpredictable.

“Despite a short recovery observed in South Africa in the first half of 2018 and the emergence from a recession with a +2.2% GDP growth in the third quarter, the official unemployment rate is back at its 2017 level,” it said.

“This is due to weak investment & consumer confidence, along with continued limited household spending & private investment.

“With the economic stimulus package announced in September 2018 and a heightened commitment to attract foreign investment, we are expecting a positive economic impact on the GDP growth and the unemployment rate for 2019.”

While the majority of sectors remain under pressure, significant drivers for more positive development will come from the Banking & Financial Services, IT and Transportation sectors, the recruiter said.

“As a result of limited household spending and private investment over the last 3 years, local and international organisations continue to be cautious when expanding into the African markets.

“Salaries and bonuses have tended to follow a consistent pattern over the past five years, with steady increases to reflect inflationary pressures.”

Below are the average salaries finance and accounting professionals can expect to earn in 2019.

The averages represent annual salaries in thousands of rands (R’000).

Small and medium-sized enterprises (SMEs)

From Average To
Senior Finance
Group / Regional CFO R2 500 R3 000 R3 500
Finance Director R1 500 R1 850 R2 200
Financial Controller R650 R725 R800
Controlling Roles
Credit Manager R550 R625 R700
Finance Manager R750 R825 R900
Senior FP&A Analyst R650 R700 R750
Finance Analyst / Associate R500 R550 R600
Financial Accountant CA (SA) R600 R650 R700
Financial Accountant (Standard) R400 R450 R500
Chief Audit Officer R1 750 R2 125 R2 500
Head of Internal Audit R1 100 R1 250 R1 400
Audit Manager R850 R925 R1 000
Senior (Internal) Auditors R700 R800 R900
(Internal) Auditors R450 R550 R650
Tax Director R1 400 R1 700 R2 000
Tax Manager R800 R900 R1 000
Senior (Internal) Auditor R800 R900 R1 000

Multinational corporations (MNCs)

From Average To
Senior Finance
Group / Regional CFO R3 500 R4 750 R6 000
Finance Director R2 000 R2 750 R3 500
Financial Controller R8 000 R945 R1 200
Controlling Roles
Credit Manager R700 R800 R900
Finance Manager R850 R1 025 R1 200
Senior FP&A Analyst R700 R800 R900
Finance Analyst / Associate R550 R625 R700
Financial Accountant CA (SA) R650 R700 R750
Financial Accountant (Standard) R500 R550 R600
Head of Treasury R1 000 R1 200 R1 400
Treasury Manager R750 R925 R1 100
Tax Director R1 800 R2 300 R2 800
Tax Manager R900 R1 150 R1 400
Senior (Internal) Auditor R900 R1 050 R1 200

Read: 3 South Africans lost their dollar billionaire status last year

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The salaries that top finance and accounting professionals can expect to earn in 2019