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Accounting Manager Average Salary in Cape Town 2024

How much money does a person working as Accounting Manager make in Cape Town?


Average Monthly Salary
53,900 ZAR
( 647,000 ZAR yearly)

LOW
28,000
ZAR
AVERAGE
53,900
ZAR
HIGH
82,500
ZAR
All salary figures displayed here are per month except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working as Accounting Manager in Cape Town typically earns around 53,900 ZAR. Salaries range from 28,000 ZAR (lowest) to 82,500 ZAR (highest).


Salary Variance

This is the average salary including housing, transport, and other benefits. Accounting Manager salaries in Cape Town vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.



Accounting Manager Pay Scale and Salaries in Cape Town

Median and salary distribution Cape Town Accounting Manager monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
48,800 ZAR or more
10% of people earn
43,500 to 48,800 ZAR
20% of people earn
31,700 ZAR or less
65% of people earn
31,700 to 43,500 ZAR
Minimum Salary
28,000 ZAR
Median
49,000 ZAR
Maximum
82,500 ZAR




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries for the position Accounting Manager in Cape Town range from 28,000 ZAR (starting salary) to 82,500 ZAR (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.

  • Median Salary

    With a median salary of 49,000 ZAR, half of the professionals who work as Accounting Manager in Cape Town earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.

  • Percentiles and Salary Scale

    The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Accounting Manager in Cape Town earn less than 40,700 ZAR, while 75% earn more. Similarly, the chart shows that 75% earn less than 55,600 ZAR while 25% earn more.

  • Pay Scale Structure

    To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Accounting Manager in Cape Town compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 31,700 ZAR to 43,500 ZAR. About 20% of salaries are below the 31,700 ZAR mark, while 10% fall within the range of 43,500 ZAR to 48,800 ZAR. Only 5% of individuals have salaries exceeding 48,800 ZAR.

Salary Comparison by Years of Experience / Accounting Manager / Cape Town

How do experience and age affect pay?

0 - 2 Years
31,900 ZAR
2 - 5 Years+34%
42,700 ZAR
5 - 10 Years+30%
55,500 ZAR
10 - 15 Years+21%
67,200 ZAR
15 - 20 Years+9%
73,500 ZAR
20+ Years+5%
77,300 ZAR
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Cape Town Accounting Manager
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The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Accounting Manager and this is what we found.


All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 31,900 ZAR.

While someone with an experience level between two and five years is expected to earn 42,700 ZAR, 34% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 55,500 ZAR, 30% more than someone with two to five years of experience.

Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 67,200 ZAR, 21% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 73,500 ZAR, 9% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 77,300 ZAR, 5% more than people with fifteen to twenty years of experience.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Salary Comparison By Education / Accounting Manager / Cape Town

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Accounting Manager.

Certificate or Diploma
37,800 ZAR
Bachelor's Degree+52%
57,400 ZAR
Master's Degree+42%
81,400 ZAR
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Cape Town Accounting Manager
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We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Accounting Manager in order to make a comparison.


Level 1: Certificate or Diploma

Employees at this education level have an average salary of 37,800 ZAR.


Level 2: Bachelor's Degree

At this level, the average salary becomes 57,400 ZAR, 52% more than the previous level.


Level 3: Master's Degree

At this level, the average salary becomes 81,400 ZAR, 42% more than the previous level.



Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in South Africa costs anywhere from 156,000 ZAR to 469,000 ZAR and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Salary and Compensation Comparison By Gender / Accounting Manager / Cape Town

Salary comparison by gender South Africa Accounting Manager monthly
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Accounting Manager in South Africa, the average difference between the salary of male and female employees is 8%.

Male
47,800 ZAR
Female-7%
44,300 ZAR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in South Africa for all Careers

Salary comparison by gender monthly South Africa
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Average Annual Salary Increment Percentage / Accounting Manager / Cape Town

How much are annual salary increments in Cape Town for individuals working as Accounting Manager? How often do employees get salary raises?

Individuals working as Accounting Manager in South Africa are likely to observe a salary increase of approximately % every months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.

Annual Salary Increment Rate South Africa Accounting Manager
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

South Africa / All Professions

Annual Salary Increment Rate South Africa
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The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency

The average salary increase in one year (12 months) in South Africa is 5%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.



Bonus and Incentive Rates / Accounting Manager / South Africa

How much and how often are bonuses being awarded?Annual Salary Bonus Rate South Africa Accounting Manager
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100% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while % said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from % to % of their annual salary.

Received Bonus
%
No Bonus
100%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus, where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Average Hourly Wage / Accounting Manager / Cape Town


310 ZAR per hour

The average hourly wage (pay per hour) for individuals working as Accounting Manager in Cape Town is 310 ZAR.This is the rate they get paid for every worked hour.


Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

About The Hourly Pay Rate

The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working as Accounting Manager in Cape Town is 160 ZAR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
Accounting and Finance-100%
Account Examiner19,500 ZAR-64%
Account Executive32,200 ZAR-40%
Accountant25,600 ZAR-53%
Accounting Analyst32,400 ZAR-40%
Accounting Assistant19,200 ZAR-64%
Accounting Associate18,300 ZAR-66%
Accounting Clerk15,300 ZAR-72%
Accounting Coordinator23,500 ZAR-56%
Accounting Head51,000 ZAR-5%
Accounting Manager53,900 ZAR-0%
Accounting Officer18,700 ZAR-65%
Accounting Specialist32,700 ZAR-39%
Accounting Supervisor35,500 ZAR-34%
Accounting Technician18,100 ZAR-66%
Accounting Unit Controller42,300 ZAR-22%
Accounts Executive31,700 ZAR-41%
Accounts Officer20,000 ZAR-63%
Accounts Payable and Receivable Specialist25,000 ZAR-54%
Accounts Payable Assistant20,200 ZAR-63%
Accounts Payable Associate22,200 ZAR-59%
Accounts Payable Clerk18,000 ZAR-67%
Accounts Payable Manager50,700 ZAR-6%
Accounts Receivable Administrator36,000 ZAR-33%
Accounts Receivable Clerk18,300 ZAR-66%
Accounts Receivable Financial Analyst36,000 ZAR-33%
Accounts Receivable Manager50,500 ZAR-6%
Accounts Receivable Team Leader36,000 ZAR-33%
Algorithmic Trading Specialist43,200 ZAR-20%
Assistant Accountant19,600 ZAR-64%
Assistant Accounting Manager47,300 ZAR-12%
Assistant Auditor25,100 ZAR-53%
Assistant Corporate Controller34,800 ZAR-35%
Assistant Finance Manager54,500 ZAR+1%
Assistant Financial Controller32,900 ZAR-39%
Audit Director55,200 ZAR+2%
Audit Supervisor46,600 ZAR-14%
Auditing Clerk20,000 ZAR-63%
Auditing Manager54,300 ZAR+1%
Billing Clerk18,800 ZAR-65%
Billing Coordinator23,700 ZAR-56%
Billing Specialist27,400 ZAR-49%
Billing Supervisor38,700 ZAR-28%
Bookkeeper15,900 ZAR-71%
Bookkeeping Specialist24,700 ZAR-54%
Budget Analyst44,000 ZAR-18%
Budget Manager50,400 ZAR-7%
Business Support Analyst28,400 ZAR-47%
Capital Markets Associate38,900 ZAR-28%
Cash Flow Analyst39,000 ZAR-28%
Cash Management Manager48,900 ZAR-9%
Cash Management Officer30,000 ZAR-44%
Cashbook Clerk16,600 ZAR-69%
Chartered Accountant32,000 ZAR-41%
Chief Accountant38,800 ZAR-28%
Chief Financial Technology Officer52,000 ZAR-4%
Collections Clerk15,600 ZAR-71%
Collections Representative22,000 ZAR-59%
Collections Specialist25,100 ZAR-53%
Corporate Controller40,600 ZAR-25%
Corporate Treasurer47,000 ZAR-13%
Cost Accountant25,200 ZAR-53%
Cost Accounting Manager51,600 ZAR-4%
Cost Accounting Supervisor42,000 ZAR-22%
Cost Analyst39,600 ZAR-27%
Credit and Collection Manager48,900 ZAR-9%
Credit and Collection Staff18,800 ZAR-65%
Credit and Loans Officer19,000 ZAR-65%
Credit Controller34,100 ZAR-37%
Credit Manager52,400 ZAR-3%
Debt Adviser41,200 ZAR-24%
Debt Collector21,200 ZAR-61%
Debtors Clerk16,600 ZAR-69%
Debtors Controller18,700 ZAR-65%
Deputy CFO67,900 ZAR+26%
Deputy Head of Finance68,700 ZAR+27%
Derivative Trader44,200 ZAR-18%
Director of Finance75,800 ZAR+41%
E-commerce Accountant26,100 ZAR-52%
Economist57,000 ZAR+6%
Equity Analyst46,800 ZAR-13%
Escrow Assistant21,500 ZAR-60%
Executive Accountant27,300 ZAR-49%
External Auditor35,000 ZAR-35%
Finance Administrator29,100 ZAR-46%
Finance Analyst45,100 ZAR-16%
Finance Associate22,900 ZAR-58%
Finance Data Analyst39,700 ZAR-26%
Finance Director74,400 ZAR+38%
Finance Executive53,100 ZAR-2%
Finance Licensing Clerk18,300 ZAR-66%
Finance Licensing Manager46,200 ZAR-14%
Finance Licensing Specialist27,700 ZAR-49%
Finance Manager67,500 ZAR+25%
Finance Officer23,100 ZAR-57%
Finance President77,300 ZAR+43%
Finance Relationship Manager57,600 ZAR+7%
Finance Release Analyst27,700 ZAR-49%
Finance Specialist42,200 ZAR-22%
Finance Team Leader 58,600 ZAR+9%
Financial Accountant25,100 ZAR-53%
Financial Actuary39,900 ZAR-26%
Financial Administrator42,900 ZAR-20%
Financial Advisor44,300 ZAR-18%
Financial Analyst44,600 ZAR-17%
Financial Applications Specialist30,200 ZAR-44%
Financial Assistant20,600 ZAR-62%
Financial Associate24,700 ZAR-54%
Financial Claims Analyst32,300 ZAR-40%
Financial Claims Manager45,300 ZAR-16%
Financial Claims Supervisor40,200 ZAR-25%
Financial Clerk18,900 ZAR-65%
Financial Commercial Analyst37,800 ZAR-30%
Financial Compliance Analyst41,100 ZAR-24%
Financial Compliance Officer41,100 ZAR-24%
Financial Consultant33,600 ZAR-38%
Financial Controller40,000 ZAR-26%
Financial Coordinator23,300 ZAR-57%
Financial Customer Service Manager44,000 ZAR-18%
Financial Data Scientist46,200 ZAR-14%
Financial Dealer and Broker27,900 ZAR-48%
Financial Director72,300 ZAR+34%
Financial Encoder21,400 ZAR-60%
Financial Manager73,700 ZAR+37%
Financial Modelling Analyst47,200 ZAR-12%
Financial Operations Manager61,600 ZAR+14%
Financial Policy Analyst38,900 ZAR-28%
Financial Project Manager53,500 ZAR-1%
Financial Quantitative Analyst45,100 ZAR-16%
Financial Reporting Consultant37,100 ZAR-31%
Financial Reporting Manager47,900 ZAR-11%
Financial Section Head49,900 ZAR-7%
Financial Services Manager64,200 ZAR+19%
Financial Services Sales Agent26,500 ZAR-51%
Financial Technology Consultant39,600 ZAR-27%
Financial Wellness Coach49,300 ZAR-9%
FinTech Analyst43,800 ZAR-19%
Fixed Assets Administrator25,200 ZAR-53%
Forensic Accountant29,100 ZAR-46%
Fraud Detection Supervisor31,400 ZAR-42%
Fraud Prevention Manager49,700 ZAR-8%
Fund Accountant24,700 ZAR-54%
Grants Coordinator18,900 ZAR-65%
Green Finance Analyst37,000 ZAR-31%
Group Financial Manager72,200 ZAR+34%
Internal Auditor35,300 ZAR-35%
Internal Control Adviser40,100 ZAR-26%
Internal Control Officer21,200 ZAR-61%
International Tax Director60,500 ZAR+12%
Inventory Accountant25,200 ZAR-53%
Investment Advisor66,000 ZAR+22%
Investment Analyst51,500 ZAR-4%
Investment Associate43,800 ZAR-19%
Investment Broker41,900 ZAR-22%
Investment Fund Manager55,700 ZAR+3%
Investment Operations Manager58,900 ZAR+9%
Investment Underwriter22,400 ZAR-58%
Investor32,500 ZAR-40%
Investor Relations Manager48,400 ZAR-10%
KYC Team Leader48,500 ZAR-10%
Loan Processor21,500 ZAR-60%
Management Accountant29,200 ZAR-46%
Management Economist56,000 ZAR+4%
Paymaster21,100 ZAR-61%
Payroll Administrator32,200 ZAR-40%
Payroll Benefits Coordinator28,000 ZAR-48%
Payroll Billing Manager44,300 ZAR-18%
Payroll Clerk22,500 ZAR-58%
Payroll Manager45,300 ZAR-16%
Payroll Officer22,400 ZAR-58%
Payroll Specialist25,600 ZAR-53%
Payroll Supervisor33,400 ZAR-38%
Pensions Administrator25,500 ZAR-53%
Personal Financial Advisor39,100 ZAR-27%
Pricing Analyst41,100 ZAR-24%
Private Equity Analyst42,900 ZAR-20%
Project Accountant26,600 ZAR-51%
Proposal Development Coordinator21,400 ZAR-60%
Quantitative Trader35,200 ZAR-35%
Receivables Accountant23,400 ZAR-57%
Regulatory Accountant27,000 ZAR-50%
Retirement Plan Analyst40,600 ZAR-25%
Revenue Management Specialist40,400 ZAR-25%
Revenue Recognition Analyst46,500 ZAR-14%
Risk Management Director58,300 ZAR+8%
Risk Management Supervisor50,700 ZAR-6%
Staff Accountant24,900 ZAR-54%
Tax Accountant23,900 ZAR-56%
Tax Administrator28,400 ZAR-47%
Tax Advisor38,400 ZAR-29%
Tax Analyst36,700 ZAR-32%
Tax Associate20,500 ZAR-62%
Tax Consultant40,400 ZAR-25%
Tax Director56,200 ZAR+4%
Tax Examiner27,500 ZAR-49%
Tax Manager50,100 ZAR-7%
Tax Research Manager53,000 ZAR-2%
Teller14,800 ZAR-73%
Treasury Accountant26,400 ZAR-51%
Treasury Analyst43,100 ZAR-20%
Underwriter18,200 ZAR-66%
Underwriting Assistant16,400 ZAR-70%
Vice President of Finance69,800 ZAR+29%

Salary Comparison By City

CityAverage Salary
Cape Town53,900 ZAR
Johannesburg49,600 ZAR

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in South Africa is 7% on average across all career fields.

Private Sector
30,400 ZAR
Public Sector+7%
32,400 ZAR
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary for the job title Accounting Manager in Cape Town?

A good and competitive compensation would range anywhere between 49,000 ZAR and 55,600 ZAR. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

Base / Basic Salary

The base salary for a careers like Accounting Manager in Cape Town ranges from 28,000 ZAR to 40,700 ZAR. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary


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