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Chartered Accountant Average Salary in South Africa 2024

How much money does a person working as Chartered Accountant make in South Africa?


Average Monthly Salary
28,500 ZAR
( 342,000 ZAR yearly)

LOW
14,800
ZAR
AVERAGE
28,500
ZAR
HIGH
43,600
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 Chartered Accountant in South Africa typically earns around 28,500 ZAR. Salaries range from 14,800 ZAR (lowest) to 43,600 ZAR (highest).


Salary Variance

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



Chartered Accountant Pay Scale and Salaries in South Africa

Median and salary distribution South Africa Chartered Accountant monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
25,800 ZAR or more
10% of people earn
23,000 to 25,800 ZAR
20% of people earn
16,800 ZAR or less
65% of people earn
16,800 to 23,000 ZAR
Minimum Salary
14,800 ZAR
Median
25,900 ZAR
Maximum
43,600 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 Chartered Accountant in South Africa range from 14,800 ZAR (starting salary) to 43,600 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 25,900 ZAR, half of the professionals who work as Chartered Accountant in South Africa 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 Chartered Accountant in South Africa earn less than 21,500 ZAR, while 75% earn more. Similarly, the chart shows that 75% earn less than 29,400 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 Chartered Accountant in South Africa compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 16,800 ZAR to 23,000 ZAR. About 20% of salaries are below the 16,800 ZAR mark, while 10% fall within the range of 23,000 ZAR to 25,800 ZAR. Only 5% of individuals have salaries exceeding 25,800 ZAR.

Salary Comparison by Years of Experience / Chartered Accountant / South Africa

How do experience and age affect pay?

0 - 2 Years
16,800 ZAR
2 - 5 Years+34%
22,600 ZAR
5 - 10 Years+30%
29,300 ZAR
10 - 15 Years+21%
35,500 ZAR
15 - 20 Years+9%
38,800 ZAR
20+ Years+5%
40,800 ZAR
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly South Africa Chartered Accountant
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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 Chartered Accountant 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 16,800 ZAR.

While someone with an experience level between two and five years is expected to earn 22,600 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 29,300 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 35,500 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 38,800 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 40,800 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 / Chartered Accountant / South Africa

How do education levels affect salaries?

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

Certificate or Diploma
20,000 ZAR
Bachelor's Degree+52%
30,300 ZAR
Master's Degree+42%
43,000 ZAR
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly South Africa Chartered Accountant
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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 Chartered Accountant in order to make a comparison.


Level 1: Certificate or Diploma

Employees at this education level have an average salary of 20,000 ZAR.


Level 2: Bachelor's Degree

At this level, the average salary becomes 30,300 ZAR, 52% more than the previous level.


Level 3: Master's Degree

At this level, the average salary becomes 43,000 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 / Chartered Accountant / South Africa

Salary comparison by gender South Africa Chartered Accountant 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 Chartered Accountant in South Africa, the average difference between the salary of male and female employees is 8%.

Male
29,700 ZAR
Female-7%
27,600 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 / Chartered Accountant / South Africa

How much are annual salary increments in South Africa for individuals working as Chartered Accountant? How often do employees get salary raises?

Individuals working as Chartered Accountant in South Africa are likely to observe a salary increase of approximately 11% every 18 months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.

Annual Salary Increment Rate South Africa Chartered Accountant
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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 / Chartered Accountant / South Africa

How much and how often are bonuses being awarded?Annual Salary Bonus Rate South Africa Chartered Accountant
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48% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 52% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 3% to 5% of their annual salary.

Received Bonus
52%
No Bonus
48%

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 / Chartered Accountant / South Africa


160 ZAR per hour

The average hourly wage (pay per hour) for individuals working as Chartered Accountant in South Africa is 160 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 Chartered Accountant in South Africa is 85 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 Examiner16,700 ZAR-41%
Account Executive29,700 ZAR+4%
Accountant23,500 ZAR-17%
Accounting Analyst27,000 ZAR-5%
Accounting Assistant18,400 ZAR-35%
Accounting Associate16,200 ZAR-43%
Accounting Clerk13,900 ZAR-51%
Accounting Coordinator20,100 ZAR-29%
Accounting Head47,100 ZAR+65%
Accounting Manager46,300 ZAR+63%
Accounting Officer16,300 ZAR-43%
Accounting Specialist29,900 ZAR+5%
Accounting Supervisor31,000 ZAR+9%
Accounting Technician16,000 ZAR-44%
Accounting Unit Controller36,900 ZAR+30%
Accounts Executive28,700 ZAR+1%
Accounts Officer17,300 ZAR-39%
Accounts Payable and Receivable Specialist23,900 ZAR-16%
Accounts Payable Assistant19,300 ZAR-32%
Accounts Payable Associate20,500 ZAR-28%
Accounts Payable Clerk16,200 ZAR-43%
Accounts Payable Manager43,200 ZAR+52%
Accounts Receivable Administrator34,600 ZAR+22%
Accounts Receivable Clerk16,300 ZAR-43%
Accounts Receivable Financial Analyst30,600 ZAR+7%
Accounts Receivable Manager42,600 ZAR+50%
Accounts Receivable Team Leader33,800 ZAR+19%
Algorithmic Trading Specialist41,300 ZAR+45%
Assistant Accountant17,600 ZAR-38%
Assistant Accounting Manager42,500 ZAR+49%
Assistant Auditor23,100 ZAR-19%
Assistant Corporate Controller30,200 ZAR+6%
Assistant Finance Manager46,500 ZAR+63%
Assistant Financial Controller30,200 ZAR+6%
Audit Director53,100 ZAR+86%
Audit Supervisor40,200 ZAR+41%
Auditing Clerk17,300 ZAR-39%
Auditing Manager46,000 ZAR+62%
Billing Clerk18,100 ZAR-36%
Billing Coordinator21,600 ZAR-24%
Billing Specialist24,000 ZAR-16%
Billing Supervisor33,900 ZAR+19%
Bookkeeper14,600 ZAR-49%
Bookkeeping Specialist21,800 ZAR-23%
Budget Analyst38,200 ZAR+34%
Budget Manager45,800 ZAR+61%
Business Support Analyst26,000 ZAR-9%
Capital Markets Associate35,000 ZAR+23%
Cash Flow Analyst33,600 ZAR+18%
Cash Management Manager44,000 ZAR+55%
Cash Management Officer25,600 ZAR-10%
Cashbook Clerk15,400 ZAR-46%
Chartered Accountant28,500 ZAR+0%
Chief Accountant32,900 ZAR+16%
Chief Financial Technology Officer49,700 ZAR+75%
Collections Clerk14,700 ZAR-48%
Collections Representative19,300 ZAR-32%
Collections Specialist22,900 ZAR-20%
Corporate Controller36,000 ZAR+26%
Corporate Treasurer42,900 ZAR+51%
Cost Accountant22,900 ZAR-20%
Cost Accounting Manager44,600 ZAR+57%
Cost Accounting Supervisor37,200 ZAR+31%
Cost Analyst35,800 ZAR+26%
Credit and Collection Manager44,400 ZAR+56%
Credit and Collection Staff16,700 ZAR-41%
Credit and Loans Officer16,300 ZAR-43%
Credit Controller32,100 ZAR+13%
Credit Manager46,900 ZAR+65%
Debt Adviser36,300 ZAR+27%
Debt Collector17,700 ZAR-38%
Debtors Clerk16,000 ZAR-44%
Debtors Controller16,300 ZAR-43%
Deputy CFO61,100 ZAR+110%
Deputy Head of Finance61,200 ZAR+110%
Derivative Trader38,600 ZAR+36%
Director of Finance67,900 ZAR+140%
E-commerce Accountant24,400 ZAR-14%
Economist51,500 ZAR+81%
Equity Analyst39,300 ZAR+38%
Escrow Assistant20,100 ZAR-29%
Executive Accountant25,900 ZAR-9%
External Auditor31,000 ZAR+9%
Finance Administrator27,000 ZAR-5%
Finance Analyst42,000 ZAR+47%
Finance Associate20,100 ZAR-29%
Finance Data Analyst37,200 ZAR+31%
Finance Director68,300 ZAR+140%
Finance Executive47,000 ZAR+65%
Finance Licensing Clerk16,400 ZAR-42%
Finance Licensing Manager43,500 ZAR+53%
Finance Licensing Specialist24,700 ZAR-13%
Finance Manager64,900 ZAR+130%
Finance Officer21,800 ZAR-23%
Finance President69,300 ZAR+140%
Finance Relationship Manager54,800 ZAR+92%
Finance Release Analyst25,500 ZAR-10%
Finance Specialist38,400 ZAR+35%
Finance Team Leader 50,200 ZAR+76%
Financial Accountant21,900 ZAR-23%
Financial Actuary35,600 ZAR+25%
Financial Administrator38,800 ZAR+36%
Financial Advisor42,100 ZAR+48%
Financial Analyst39,900 ZAR+40%
Financial Applications Specialist27,600 ZAR-3%
Financial Assistant17,800 ZAR-37%
Financial Associate22,200 ZAR-22%
Financial Claims Analyst30,200 ZAR+6%
Financial Claims Manager39,900 ZAR+40%
Financial Claims Supervisor37,100 ZAR+30%
Financial Clerk17,500 ZAR-39%
Financial Commercial Analyst34,700 ZAR+22%
Financial Compliance Analyst35,600 ZAR+25%
Financial Compliance Officer36,500 ZAR+28%
Financial Consultant29,900 ZAR+5%
Financial Controller38,300 ZAR+35%
Financial Coordinator21,100 ZAR-26%
Financial Customer Service Manager41,200 ZAR+45%
Financial Data Scientist42,900 ZAR+51%
Financial Dealer and Broker23,900 ZAR-16%
Financial Director69,100 ZAR+140%
Financial Encoder18,700 ZAR-34%
Financial Manager61,100 ZAR+110%
Financial Modelling Analyst41,500 ZAR+46%
Financial Operations Manager59,500 ZAR+110%
Financial Policy Analyst35,500 ZAR+25%
Financial Project Manager46,300 ZAR+63%
Financial Quantitative Analyst39,400 ZAR+38%
Financial Reporting Consultant34,100 ZAR+20%
Financial Reporting Manager43,800 ZAR+54%
Financial Section Head44,500 ZAR+56%
Financial Services Manager56,000 ZAR+97%
Financial Services Sales Agent25,300 ZAR-11%
Financial Technology Consultant36,300 ZAR+27%
Financial Wellness Coach47,400 ZAR+66%
FinTech Analyst39,900 ZAR+40%
Fixed Assets Administrator24,300 ZAR-15%
Forensic Accountant27,600 ZAR-3%
Fraud Detection Supervisor27,800 ZAR-2%
Fraud Prevention Manager46,100 ZAR+62%
Fund Accountant21,600 ZAR-24%
Grants Coordinator16,600 ZAR-42%
Green Finance Analyst33,500 ZAR+18%
Group Financial Manager64,700 ZAR+130%
Internal Auditor29,700 ZAR+4%
Internal Control Adviser35,500 ZAR+25%
Internal Control Officer19,700 ZAR-31%
International Tax Director55,000 ZAR+93%
Inventory Accountant23,700 ZAR-17%
Investment Advisor60,700 ZAR+110%
Investment Analyst44,800 ZAR+57%
Investment Associate39,000 ZAR+37%
Investment Broker38,100 ZAR+34%
Investment Fund Manager51,900 ZAR+82%
Investment Operations Manager50,700 ZAR+78%
Investment Underwriter19,800 ZAR-30%
Investor29,700 ZAR+4%
Investor Relations Manager46,300 ZAR+63%
KYC Team Leader46,500 ZAR+63%
Loan Processor19,600 ZAR-31%
Management Accountant25,500 ZAR-10%
Management Economist53,600 ZAR+88%
Paymaster19,400 ZAR-32%
Payroll Administrator30,100 ZAR+6%
Payroll Benefits Coordinator24,100 ZAR-15%
Payroll Billing Manager39,900 ZAR+40%
Payroll Clerk19,900 ZAR-30%
Payroll Manager41,800 ZAR+47%
Payroll Officer19,000 ZAR-33%
Payroll Specialist22,800 ZAR-20%
Payroll Supervisor29,200 ZAR+3%
Pensions Administrator24,400 ZAR-14%
Personal Financial Advisor35,200 ZAR+24%
Pricing Analyst37,900 ZAR+33%
Private Equity Analyst42,400 ZAR+49%
Project Accountant25,600 ZAR-10%
Proposal Development Coordinator20,500 ZAR-28%
Quantitative Trader31,400 ZAR+10%
Receivables Accountant21,000 ZAR-26%
Regulatory Accountant24,200 ZAR-15%
Retirement Plan Analyst36,000 ZAR+26%
Revenue Management Specialist37,500 ZAR+32%
Revenue Recognition Analyst43,800 ZAR+54%
Risk Management Director55,200 ZAR+94%
Risk Management Supervisor45,500 ZAR+60%
Staff Accountant22,200 ZAR-22%
Tax Accountant21,000 ZAR-26%
Tax Administrator24,200 ZAR-15%
Tax Advisor34,200 ZAR+20%
Tax Analyst34,200 ZAR+20%
Tax Associate18,900 ZAR-34%
Tax Consultant35,700 ZAR+25%
Tax Director51,900 ZAR+82%
Tax Examiner25,500 ZAR-10%
Tax Manager47,000 ZAR+65%
Tax Research Manager47,000 ZAR+65%
Teller13,700 ZAR-52%
Treasury Accountant24,000 ZAR-16%
Treasury Analyst36,300 ZAR+27%
Underwriter15,800 ZAR-45%
Underwriting Assistant14,800 ZAR-48%
Vice President of Finance61,900 ZAR+120%

Salary Comparison By City

CityAverage Salary
Cape Town32,000 ZAR
Johannesburg30,800 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 Chartered Accountant in South Africa?

A good and competitive compensation would range anywhere between 25,900 ZAR and 29,400 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 Chartered Accountant in South Africa ranges from 14,800 ZAR to 21,500 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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