{"id":471138,"date":"2021-02-25T17:00:34","date_gmt":"2021-02-25T15:00:34","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=471138"},"modified":"2021-02-25T16:10:04","modified_gmt":"2021-02-25T14:10:04","slug":"how-much-money-you-can-expect-to-earn-in-finance-and-banking-roles-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/471138\/how-much-money-you-can-expect-to-earn-in-finance-and-banking-roles-in-south-africa\/","title":{"rendered":"How much money you can expect to earn in finance and banking roles in South Africa"},"content":{"rendered":"

Specialist recruitment firm Robert Walters has published its annual salary survey for 2021, showing what professionals in the finance, banking, and accounting industry can expect to earn.<\/p>\n

The Covid-19 pandemic had a massive impact on the financial sector in South Africa, which, like many others, came under severe strain as employers halted hiring processes and even had to cut or furlough staff.<\/p>\n

Jason Grundy, managing director of Robert Walters for the Middle East & Africa, said that professionals looking to increase their earnings most likely would need to seek new opportunities, however, new starters should still expect conservative salary increases when moving roles.<\/p>\n

“In addition, we expect reduced bonuses in line with company performance and their need to maintain a strong cash position.<\/p>\n

“We foresee organisations taking a flexible approach to benefits packages as a way of retaining top talent. These benefits would likely include measures to support the new operating model, such as work from home.”<\/p>\n

Salaries<\/strong><\/p>\n

Robert Walters splits its salary review into two specific finance-related sectors: Accounting and Finance, and Banking and Financial Services.<\/p>\n

Salaries across both groups are quite similar, though the averages in the Accounting and Finance segment are higher.<\/p>\n

Starting salaries in both the Accounting and Finance and Banking and Financial Services sectors range between R180,000 and R600,000 a year – for BCom graduates and financial managers\/private equity professionals, respectively.<\/p>\n

However, the top range is higher in Accounting and Finance – between R900,000 and R4 million – compared to Banking and Financial Services, where the range is R850,000 to R3.5 million.<\/p>\n

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Accounting and Finance<\/strong><\/p>\n

60% of businesses in this segment say they are giving pay increases to employees in 2021.<\/p>\n

Due to the Covid-19 pandemic, professionals have bunkered down, with only 16% indicating they will be looking for a new job this year, with job security a high priority.<\/p>\n

Confidence is still relatively low in the sector, with only 27% of employees feeling optimistic about opportunities in the industry in 2021.<\/p>\n

Employees say they want flexible hours, remote working and a tech-first approach to work. Employers, meanwhile, are seeking skills in financial analysis, corporate finance specialists and internal auditors.<\/p>\n

\"\"<\/a><\/p>\n

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Banking and Financial Services<\/strong><\/p>\n

Closely aligned to the accounting segment, banking and financial services companies are also willing to pay more for needed skills, with 66% of employers indicating they will be giving pay increases this year.<\/p>\n

Employees are also sticking to their jobs, with only 17% looking for a new job this year, while the same levels of confidence (27%) exists around opportunities in the sector.<\/p>\n

The same needs are present: flexible hours, remote working and more opportunity to leverage technology. The most in-demand skills here are financial business partners, financial reporting accountants and financial managers.<\/p>\n

\"\"<\/a><\/p>\n

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Read: South Africa unemployment hits highest point on record<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Specialist recruitment firm Robert Walters has published its annual salary survey for 2021, showing what professionals in the finance, banking, and accounting industry can expect to earn.<\/p>\n","protected":false},"author":10,"featured_media":390887,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[26,12214],"class_list":["post-471138","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-headline","tag-robert-walters"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/471138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=471138"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/471138\/revisions"}],"predecessor-version":[{"id":471222,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/471138\/revisions\/471222"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/390887"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=471138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=471138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=471138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}