24 jobs in South Africa that pay over R2 million in 2024
Professional recruitment firm Robert Walters has published the salary data from its latest Salary Survey, showing what top professionals can expect to earn in South Africa in 2024.
The salary survey not only provides pay ranges for professional positions across key industries, it also shows broader trends in specific job markets, covering banking, financial services, legal, human resources and information technology.
South African companies are desperate for skilled individuals, with demand for critical training present in almost every industry in the country.
According to Robert Walters, this doesn’t necessarily mean that South African professionals have the pick of the litter when it comes to jobs, however – the survey indicated low to medium demand from companies looking for specific skills across all five sectors covered.
This is indicative of the highly competitive job market in South Africa where the economy has been stagnating for over a decade, limiting expansion and job opportunities.
While companies are desperate for skills, only so many positions are open, making it fairly easy for them to fill the slots from available talent.
Employees, meanwhile, are showing high degrees of mobility, with up to 46% of professionals indicating a desire to switch jobs in 2024, with most spending only 1.8 to 2.2 years at a company.
As other manager and employer surveys have shown, companies are willing to pay much higher salaries and offer increases above inflation to retain these skills and remain competitive in the market.
Across the industries surveyed by Robert Walters, 30% of businesses said they were giving pay rises in 2024 with 23% to 36% of employees expecting a pay hike this year.
High-paying jobs
The latest survey identified over 50 professional jobs in South Africa that have an end-range earning potential of R1.5 million a year or more – among these, 24 have an earning potential of over R2 million.
While the salary data is very comprehensive, it is important to note that it is primarily focused on corporate or “office job” professionals. This means that specific sectors, such as airline pilots, engineers, medical personnel and government officials, do not feature in the report.
The earning potential among professionals is tied to experience in the field, as well as the size of the companies you work for.
Top earners are generally well experienced – with over ten years of experience in their field – though there are some exceptions to this, such as general managers or executives like chief operating officers, who can earn over R2 million with between four to seven years’ experience.
The table below outlines the top-earning positions in the survey.
| Position | Sector | From | To (‘000) |
| Chief Financial Officer (JSE Top 200) | Accounting (10yrs+) | R2 600 | R4 000 |
| Chief Risk Officer | Banking (10yrs+) | R1 600 | R3 500 |
| HR Director | Human Resources | R1 700 | R3 300 |
| HR Executive | Human Resources | R1 700 | R3 300 |
| Head of International Audit / Chief Internal Auditor | Banking (10yrs+) | R1 400 | R3 000 |
| Chief Operating Officer | Accounting (4-10yrs+) | R1 500 | R3 000 |
| Chief Financial Officer (Qualified CA) | Banking (10yrs+ XP) | R2 000 | R2 800 |
| General Manager | Accounting (4-10yrs+) | R1 400 | R2 700 |
| CEO (SME) | Accounting (10yrs+) | R2 700 | R2 700+ |
| General Council | Legal (In house) | R2 650 | R2 650+ |
| Head of Legal | Legal (In house) | R1 600 | R2 650 |
| Group Treasury Manager | Accounting (10yrs+) | R1 800 | R2 500 |
| Private Equity / Corporate Finance | Banking (10yrs+ XP) | R1 600 | R2 300 |
| CA (SA) | Accounting (10yrs+) | R1 600 | R2 300 |
| Qualified CA(SA) | Banking (10yrs+ XP) | R1 500 | R2 200 |
| Relationship Manager / Corporate Banker | Banking (10yrs+ XP) | R1 350 | R2 200 |
| Actuary | Banking (10yrs+ XP) | R1 400 | R2 200 |
| Chief Finance Officer / Financial Director (SME) | Accounting (10yrs+) | R1 600 | R2 200 |
| Group Tax Manager | Accounting (10yrs+) | R1 700 | R2 200 |
| Equity Director | Legal (Large firm) | R2 120 | R2 120+ |
| Junior Director | Legal (Large firm) | R1 400 | R2 000 |
| Head of HR | Human Resources | R900 | R2 000 |
| Investment Analyst (CA plus CFA) | Banking (10yrs+) | R1 200 | R2 000 |
| Strategy Consultant | Banking (10yrs+) | R1 300 | R2 000 |
The figures represent cost to company, excluding bonuses.
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