{"id":654231,"date":"2023-01-08T17:00:01","date_gmt":"2023-01-08T15:00:01","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=654231"},"modified":"2023-01-06T15:27:18","modified_gmt":"2023-01-06T13:27:18","slug":"starting-salaries-for-banking-and-finance-jobs-in-south-africa-in-2023-including-graduates","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/654231\/starting-salaries-for-banking-and-finance-jobs-in-south-africa-in-2023-including-graduates\/","title":{"rendered":"Starting salaries for banking and finance jobs in South Africa in 2023 &#8211; including graduates"},"content":{"rendered":"<p>Professional recruitment firm Robert Walters has published the salary data from its 2023 South African Salary Survey, showing what entry-level or starting salaries graduates can expect in the finance, legal and technology sectors.<\/p>\n<p>According to Robert Walters, the landscape for professionals in South Africa shifted in 2022, with both employers and employees looking for different qualities from each other in a post-Covid world.<\/p>\n<p>As has been widely reported, South African businesses are in dire need of skills across almost every sector &#8211; but as the Robert Walters survey shows, this does not mean that qualified professionals are guaranteed a job.<\/p>\n<p>In fact, the survey indicated that there is a general oversupply of skills in the finance, HR and technology sector as a whole, with the group noting only low to medium demand for candidates.<\/p>\n<p>Accounting, finance, banking and financial services professionals showed medium levels of demand, with the firm noting that it is &#8220;fairly easy&#8221; to hire in those sectors. The Human Resources, legal and technology sectors, meanwhile, are seeing low demand, with it being very easy to hire, Robert Walters said.<\/p>\n<p>Despite this, there are key positions, role and skills in every sector that are sought-after by companies. These are:<\/p>\n<ul>\n<li><strong>Accounting and finance:<\/strong> Accountant, financial manager, audit manager<\/li>\n<li><strong>Banking and financial services:<\/strong> Financial advisor, business analyst, strategy consultant<\/li>\n<li><strong>Human resources:<\/strong> HR business partner, HR manager; HR generalist<\/li>\n<li><strong>Legal:<\/strong> Attorney, legal associate, senior associate<\/li>\n<li><strong>Technology:<\/strong> IT manager, IT consultant, technical support engineer<\/li>\n<\/ul>\n<p><strong>Starting salaries<\/strong><\/p>\n<p>The 2023 survey presented the salary ranges for over 150 jobs in South Africa, covering the accounting and finance, banking, human resources, financial services and technology sectors.<\/p>\n<p>Where applicable, the salary ranges were also split across years of experience, with 33 jobs listed for those with zero to two\/three years experiences, indicating their entry-level or starting salaries.<\/p>\n<p>Included in this are the expected salary ranges for BCom or chartered accounting (CA) graduates.<\/p>\n<p>According to Robert Walters, associates at large law firms start out on the best footing, with the expected salary in 2023 starting at R900,000 per annum.<\/p>\n<p>General graduates, with or without honours, looking to work in banking or financial services start off from the lowest base at R200,000 per annum.<\/p>\n<p>Notably, however, professionals in the banking and financial sector have huge earning potential, with many jobs stretching to salaries of over R1 million per year with experience.<\/p>\n<p>The table below outlines the starting (0-2 year experience) salary ranges for professionals in the respective sectors.<\/p>\n<div class=\"bt_table\">\n<div class=\"table-responsive\"><table class=\"table\" width=\"100%\" cellspacing=\"0\" cellpadding=\"6\">\n<tbody>\n<tr>\n<th bgcolor=\"#CCCCCC\" width=\"35%\">Job<\/th>\n<th bgcolor=\"#CCCCCC\" width=\"35%\">Sector<\/th>\n<th style=\"text-align: center;\" bgcolor=\"#CCCCCC\" width=\"15%\">From<\/th>\n<th style=\"text-align: center;\" bgcolor=\"#CCCCCC\" width=\"15%\">To<\/th>\n<\/tr>\n<tr>\n<td>Associate<\/td>\n<td>Private Practice (Large Firm)<\/td>\n<td style=\"text-align: center;\">R900 000<\/td>\n<td style=\"text-align: center;\">R900 000<\/td>\n<\/tr>\n<tr>\n<td>Private Equity\/Corporate Finance<\/td>\n<td>Banking<\/td>\n<td style=\"text-align: center;\">R650 000<\/td>\n<td style=\"text-align: center;\">R750 000<\/td>\n<\/tr>\n<tr>\n<td>Treasury Accountant<\/td>\n<td>Taxation\/Treasury<\/td>\n<td style=\"text-align: center;\">R650 000<\/td>\n<td style=\"text-align: center;\">R750 000<\/td>\n<\/tr>\n<tr>\n<td>Finance Manager<\/td>\n<td>Qualified CA (SA) or CIMA or BCom<\/td>\n<td style=\"text-align: center;\">R650 000<\/td>\n<td style=\"text-align: center;\">R750 000<\/td>\n<\/tr>\n<tr>\n<td>Investment Analyst (CA plus CFA)<\/td>\n<td>Investment Management\/Asset Management<\/td>\n<td style=\"text-align: center;\">R600 000<\/td>\n<td style=\"text-align: center;\">R750 000<\/td>\n<\/tr>\n<tr>\n<td>Qualified CA(SA) Johannesburg<\/td>\n<td>Accounting, Audit, Tax &amp; Treasury<\/td>\n<td style=\"text-align: center;\">R600 000<\/td>\n<td style=\"text-align: center;\">R750 000<\/td>\n<\/tr>\n<tr>\n<td>Credit Analyst\/Credit Manager (Qualified CA)<\/td>\n<td>Credit<\/td>\n<td style=\"text-align: center;\">R600 000<\/td>\n<td style=\"text-align: center;\">R700 000<\/td>\n<\/tr>\n<tr>\n<td>Associate<\/td>\n<td>Private Practice (Boutique Firm)<\/td>\n<td style=\"text-align: center;\">R600 000<\/td>\n<td style=\"text-align: center;\">R600 000<\/td>\n<\/tr>\n<tr>\n<td>CA (SA)<\/td>\n<td>Qualified CA (SA) or CIMA or BCom<\/td>\n<td style=\"text-align: center;\">R550 000<\/td>\n<td style=\"text-align: center;\">R750 000<\/td>\n<\/tr>\n<tr>\n<td>Qualified CA(SA) Cape Town<\/td>\n<td>Accounting, Audit, Tax &amp; Treasury<\/td>\n<td style=\"text-align: center;\">R550 000<\/td>\n<td style=\"text-align: center;\">R650 000<\/td>\n<\/tr>\n<tr>\n<td>CIMA Qualified Management Accountant<\/td>\n<td>Accounting, Audit, Tax &amp; Treasury<\/td>\n<td style=\"text-align: center;\">R450 000<\/td>\n<td style=\"text-align: center;\">R550 000<\/td>\n<\/tr>\n<tr>\n<td>Internal Auditor (Non-Qualified)<\/td>\n<td>Internal Audit or IT audit<\/td>\n<td style=\"text-align: center;\">R400 000<\/td>\n<td style=\"text-align: center;\">R550 000<\/td>\n<\/tr>\n<tr>\n<td>Part-Qualified CA(SA) (Degree\/Honours + Articles)<\/td>\n<td>Accounting, Audit, Tax &amp; Treasury<\/td>\n<td style=\"text-align: center;\">R400 000<\/td>\n<td style=\"text-align: center;\">R550 000<\/td>\n<\/tr>\n<tr>\n<td>Quant Risk Analyst<\/td>\n<td>Risk, Data Science &amp; Analytics<\/td>\n<td style=\"text-align: center;\">R400 000<\/td>\n<td style=\"text-align: center;\">R500 000<\/td>\n<\/tr>\n<tr>\n<td>Strategy Consultant<\/td>\n<td>Management Consultancy<\/td>\n<td style=\"text-align: center;\">R400 000<\/td>\n<td style=\"text-align: center;\">R500 000<\/td>\n<\/tr>\n<tr>\n<td>Tax Accountant<\/td>\n<td>Taxation\/Treasury<\/td>\n<td style=\"text-align: center;\">R400 000<\/td>\n<td style=\"text-align: center;\">R450 000<\/td>\n<\/tr>\n<tr>\n<td>Actuary<\/td>\n<td>Risk, Data Science &amp; Analytics<\/td>\n<td style=\"text-align: center;\">R350 000<\/td>\n<td style=\"text-align: center;\">R500 000<\/td>\n<\/tr>\n<tr>\n<td>Relationship Manager\/Corporate Banker<\/td>\n<td>Banking<\/td>\n<td style=\"text-align: center;\">R350 000<\/td>\n<td style=\"text-align: center;\">R500 000<\/td>\n<\/tr>\n<tr>\n<td>CIMA\/ CGMA<\/td>\n<td>Qualified CA (SA) or CIMA or BCom<\/td>\n<td style=\"text-align: center;\">R350 000<\/td>\n<td style=\"text-align: center;\">R500 000<\/td>\n<\/tr>\n<tr>\n<td>Data Scientist (B.I. Business Intelligence)<\/td>\n<td>Risk, Data Science &amp; Analytics<\/td>\n<td style=\"text-align: center;\">R350 000<\/td>\n<td style=\"text-align: center;\">R450 000<\/td>\n<\/tr>\n<tr>\n<td>Credit Analyst\/Credit Manager (Non-Qualified)<\/td>\n<td>Credit<\/td>\n<td style=\"text-align: center;\">R350 000<\/td>\n<td style=\"text-align: center;\">R450 000<\/td>\n<\/tr>\n<tr>\n<td>Part Qualified CA (SA)<\/td>\n<td>Part Qualified<\/td>\n<td style=\"text-align: center;\">R350 000<\/td>\n<td style=\"text-align: center;\">R450 000<\/td>\n<\/tr>\n<tr>\n<td>Internal Auditor<\/td>\n<td>Qualified CA (SA) or CIMA or BCom<\/td>\n<td style=\"text-align: center;\">R350 000<\/td>\n<td style=\"text-align: center;\">R400 000<\/td>\n<\/tr>\n<tr>\n<td>Business Analyst<\/td>\n<td>Management Consultancy<\/td>\n<td style=\"text-align: center;\">R340 000<\/td>\n<td style=\"text-align: center;\">R450 000<\/td>\n<\/tr>\n<tr>\n<td>Equity Research Analyst (Non-Qualified)<\/td>\n<td>Global Markets<\/td>\n<td style=\"text-align: center;\">R300 000<\/td>\n<td style=\"text-align: center;\">R400 000<\/td>\n<\/tr>\n<tr>\n<td>AML Officer<\/td>\n<td>AML &amp; Financial Crime<\/td>\n<td style=\"text-align: center;\">R300 000<\/td>\n<td style=\"text-align: center;\">R400 000<\/td>\n<\/tr>\n<tr>\n<td>BCom<\/td>\n<td>Qualified CA (SA) or CIMA or BCom<\/td>\n<td style=\"text-align: center;\">R300 000<\/td>\n<td style=\"text-align: center;\">R400 000<\/td>\n<\/tr>\n<tr>\n<td>Ops Risk Manager<\/td>\n<td>Risk, Data Science &amp; Analytics<\/td>\n<td style=\"text-align: center;\">R300 000<\/td>\n<td style=\"text-align: center;\">R350 000<\/td>\n<\/tr>\n<tr>\n<td>Management Consultant (Non-CA)<\/td>\n<td>Management Consultancy<\/td>\n<td style=\"text-align: center;\">R250 000<\/td>\n<td style=\"text-align: center;\">R350 000<\/td>\n<\/tr>\n<tr>\n<td>Non-Qualified Accountant (BCom)<\/td>\n<td>Accounting, Audit, Tax &amp; Treasury<\/td>\n<td style=\"text-align: center;\">R250 000<\/td>\n<td style=\"text-align: center;\">R350 000<\/td>\n<\/tr>\n<tr>\n<td>Fund Accountant (Non-Qualified)<\/td>\n<td>Accounting, Audit, Tax &amp; Treasury<\/td>\n<td style=\"text-align: center;\">R250 000<\/td>\n<td style=\"text-align: center;\">R350 000<\/td>\n<\/tr>\n<tr>\n<td>Part Qualified CIMA<\/td>\n<td>Part Qualified<\/td>\n<td style=\"text-align: center;\">R250 000<\/td>\n<td style=\"text-align: center;\">R300 000<\/td>\n<\/tr>\n<tr>\n<td>Graduates (+\/- Honours)<\/td>\n<td>Accounting, Audit, Tax &amp; Treasury<\/td>\n<td style=\"text-align: center;\">R200 000<\/td>\n<td style=\"text-align: center;\">R300 000<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/business\/649037\/29-jobs-in-south-africa-that-pay-r2-million-or-more-a-year\/\" rel=\"bookmark\">29 jobs in South Africa that pay R2 million or more a year<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Professional recruitment firm Robert Walters has published its salary survey for 2023.<\/p>\n","protected":false},"author":10,"featured_media":649051,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9880],"tags":[26,12214],"class_list":["post-654231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth","tag-headline","tag-robert-walters"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/654231","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=654231"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/654231\/revisions"}],"predecessor-version":[{"id":654437,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/654231\/revisions\/654437"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/649051"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=654231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=654231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=654231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}