How much money does a person working in Accounting and Finance make in South Africa?
Average Monthly Salary
32,300 ZAR
( 388,000 ZAR yearly)
LOW
13,000
ZAR
AVERAGE
32,300
ZAR
HIGH
64,400
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 in Accounting and Finance in South Africa typically earns around 32,300 ZAR. Salaries range from 13,000 ZAR (lowest average) to 64,400 ZAR (highest average, actual maximum salary is higher).
Salary Variance
The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Accounting and Finance domain in South Africa exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.
Salaries for specific jobs
Accounting and Finance | |
Account Examiner | 16,700 ZAR |
Account Executive | 29,700 ZAR |
Accountant | 23,500 ZAR |
Accounting Analyst | 27,000 ZAR |
|
Accounting Assistant | 18,400 ZAR |
Accounting Associate | 16,200 ZAR |
Accounting Clerk | 13,900 ZAR |
Accounting Coordinator | 20,100 ZAR |
Accounting Head | 47,100 ZAR |
Accounting Manager | 46,300 ZAR |
Accounting Officer | 16,300 ZAR |
Accounting Specialist | 29,900 ZAR |
Accounting Supervisor | 31,000 ZAR |
Accounting Technician | 16,000 ZAR |
Accounting Unit Controller | 36,900 ZAR |
Accounts Executive | 28,700 ZAR |
Accounts Officer | 17,300 ZAR |
Accounts Payable and Receivable Specialist | 23,900 ZAR |
Accounts Payable Assistant | 19,300 ZAR |
Accounts Payable Associate | 20,500 ZAR |
Accounts Payable Clerk | 16,200 ZAR |
Accounts Payable Manager | 43,200 ZAR |
Accounts Receivable Administrator | 34,600 ZAR |
Accounts Receivable Clerk | 16,300 ZAR |
Accounts Receivable Financial Analyst | 30,600 ZAR |
Accounts Receivable Manager | 42,600 ZAR |
Accounts Receivable Team Leader | 33,800 ZAR |
Algorithmic Trading Specialist | 41,300 ZAR |
Assistant Accountant | 17,600 ZAR |
Assistant Accounting Manager | 42,500 ZAR |
Assistant Auditor | 23,100 ZAR |
Assistant Corporate Controller | 30,200 ZAR |
Assistant Finance Manager | 46,500 ZAR |
Assistant Financial Controller | 30,200 ZAR |
Audit Director | 53,100 ZAR |
Audit Supervisor | 40,200 ZAR |
Auditing Clerk | 17,300 ZAR |
Auditing Manager | 46,000 ZAR |
Billing Clerk | 18,100 ZAR |
Billing Coordinator | 21,600 ZAR |
Billing Specialist | 24,000 ZAR |
Billing Supervisor | 33,900 ZAR |
Bookkeeper | 14,600 ZAR |
Bookkeeping Specialist | 21,800 ZAR |
Budget Analyst | 38,200 ZAR |
Budget Manager | 45,800 ZAR |
Business Support Analyst | 26,000 ZAR |
Capital Markets Associate | 35,000 ZAR |
Cash Flow Analyst | 33,600 ZAR |
Cash Management Manager | 44,000 ZAR |
Cash Management Officer | 25,600 ZAR |
Cashbook Clerk | 15,400 ZAR |
Chartered Accountant | 28,500 ZAR |
Chief Accountant | 32,900 ZAR |
Chief Financial Technology Officer | 49,700 ZAR |
Collections Clerk | 14,700 ZAR |
Collections Representative | 19,300 ZAR |
Collections Specialist | 22,900 ZAR |
Corporate Controller | 36,000 ZAR |
Corporate Treasurer | 42,900 ZAR |
Cost Accountant | 22,900 ZAR |
Cost Accounting Manager | 44,600 ZAR |
Cost Accounting Supervisor | 37,200 ZAR |
Cost Analyst | 35,800 ZAR |
Credit and Collection Manager | 44,400 ZAR |
Credit and Collection Staff | 16,700 ZAR |
Credit and Loans Officer | 16,300 ZAR |
Credit Controller | 32,100 ZAR |
Credit Manager | 46,900 ZAR |
Debt Adviser | 36,300 ZAR |
Debt Collector | 17,700 ZAR |
Debtors Clerk | 16,000 ZAR |
Debtors Controller | 16,300 ZAR |
Deputy CFO | 61,100 ZAR |
Deputy Head of Finance | 61,200 ZAR |
Derivative Trader | 38,600 ZAR |
Director of Finance | 67,900 ZAR |
E-commerce Accountant | 24,400 ZAR |
Economist | 51,500 ZAR |
Equity Analyst | 39,300 ZAR |
Escrow Assistant | 20,100 ZAR |
Executive Accountant | 25,900 ZAR |
External Auditor | 31,000 ZAR |
Finance Administrator | 27,000 ZAR |
Finance Analyst | 42,000 ZAR |
Finance Associate | 20,100 ZAR |
Finance Data Analyst | 37,200 ZAR |
Finance Director | 68,300 ZAR |
Finance Executive | 47,000 ZAR |
Finance Licensing Clerk | 16,400 ZAR |
Finance Licensing Manager | 43,500 ZAR |
Finance Licensing Specialist | 24,700 ZAR |
Finance Manager | 64,900 ZAR |
Finance Officer | 21,800 ZAR |
Finance President | 69,300 ZAR |
Finance Relationship Manager | 54,800 ZAR |
Finance Release Analyst | 25,500 ZAR |
Finance Specialist | 38,400 ZAR |
Finance Team Leader | 50,200 ZAR |
Financial Accountant | 21,900 ZAR |
Financial Actuary | 35,600 ZAR |
Financial Administrator | 38,800 ZAR |
Financial Advisor | 42,100 ZAR |
Financial Analyst | 39,900 ZAR |
Financial Applications Specialist | 27,600 ZAR |
Financial Assistant | 17,800 ZAR |
Financial Associate | 18,500 ZAR |
Financial Associate | 22,200 ZAR |
Financial Claims Analyst | 30,200 ZAR |
Financial Claims Manager | 39,900 ZAR |
Financial Claims Supervisor | 37,100 ZAR |
Financial Clerk | 17,500 ZAR |
Financial Commercial Analyst | 34,700 ZAR |
Financial Compliance Analyst | 35,600 ZAR |
Financial Compliance Officer | 36,500 ZAR |
Financial Consultant | 29,900 ZAR |
Financial Controller | 38,300 ZAR |
Financial Controller | 35,100 ZAR |
Financial Coordinator | 21,100 ZAR |
Financial Customer Service Manager | 41,200 ZAR |
Financial Data Scientist | 42,900 ZAR |
Financial Dealer and Broker | 23,900 ZAR |
Financial Director | 69,100 ZAR |
Financial Encoder | 18,700 ZAR |
Financial Manager | 61,600 ZAR |
Financial Manager | 61,100 ZAR |
Financial Modelling Analyst | 41,500 ZAR |
Financial Operations Manager | 59,500 ZAR |
Financial Policy Analyst | 35,500 ZAR |
Financial Project Manager | 46,300 ZAR |
Financial Quantitative Analyst | 39,400 ZAR |
Financial Reporting Consultant | 34,100 ZAR |
Financial Reporting Manager | 43,800 ZAR |
Financial Section Head | 44,500 ZAR |
Financial Services Manager | 56,000 ZAR |
Financial Services Sales Agent | 25,300 ZAR |
Financial Technology Consultant | 36,300 ZAR |
Financial Wellness Coach | 47,400 ZAR |
FinTech Analyst | 39,900 ZAR |
Fixed Assets Administrator | 24,300 ZAR |
Forensic Accountant | 27,600 ZAR |
Fraud Detection Supervisor | 27,800 ZAR |
Fraud Prevention Manager | 46,100 ZAR |
Fund Accountant | 21,600 ZAR |
Grants Coordinator | 16,600 ZAR |
Green Finance Analyst | 33,500 ZAR |
Group Financial Manager | 64,700 ZAR |
Internal Auditor | 29,700 ZAR |
Internal Control Adviser | 35,500 ZAR |
Internal Control Officer | 19,700 ZAR |
International Tax Director | 55,000 ZAR |
Inventory Accountant | 23,700 ZAR |
Investment Advisor | 60,700 ZAR |
Investment Analyst | 44,800 ZAR |
Investment Associate | 39,000 ZAR |
Investment Broker | 38,100 ZAR |
Investment Fund Manager | 51,900 ZAR |
Investment Operations Manager | 50,700 ZAR |
Investment Underwriter | 19,800 ZAR |
Investor | 29,700 ZAR |
Investor Relations Manager | 46,300 ZAR |
KYC Team Leader | 46,500 ZAR |
Loan Processor | 19,600 ZAR |
Management Accountant | 25,500 ZAR |
Management Economist | 53,600 ZAR |
Paymaster | 19,400 ZAR |
Payroll Administrator | 30,100 ZAR |
Payroll Benefits Coordinator | 24,100 ZAR |
Payroll Billing Manager | 39,900 ZAR |
Payroll Clerk | 19,900 ZAR |
Payroll Manager | 41,800 ZAR |
Payroll Officer | 19,000 ZAR |
Payroll Specialist | 22,800 ZAR |
Payroll Supervisor | 29,200 ZAR |
Pensions Administrator | 24,400 ZAR |
Personal Financial Advisor | 35,200 ZAR |
Pricing Analyst | 37,900 ZAR |
Private Equity Analyst | 42,400 ZAR |
Project Accountant | 25,600 ZAR |
Proposal Development Coordinator | 20,500 ZAR |
Quantitative Trader | 31,400 ZAR |
Receivables Accountant | 21,000 ZAR |
Regulatory Accountant | 24,200 ZAR |
Retirement Plan Analyst | 36,000 ZAR |
Revenue Management Specialist | 37,500 ZAR |
Revenue Recognition Analyst | 43,800 ZAR |
Risk Management Director | 55,200 ZAR |
Risk Management Supervisor | 45,500 ZAR |
Staff Accountant | 22,200 ZAR |
Tax Accountant | 21,000 ZAR |
Tax Administrator | 24,200 ZAR |
Tax Advisor | 34,200 ZAR |
Tax Analyst | 34,200 ZAR |
Tax Associate | 18,900 ZAR |
Tax Consultant | 35,700 ZAR |
Tax Director | 51,900 ZAR |
Tax Examiner | 25,500 ZAR |
Tax Manager | 47,000 ZAR |
Tax Research Manager | 47,000 ZAR |
Teller | 13,700 ZAR |
Treasury Accountant | 24,000 ZAR |
Treasury Analyst | 36,300 ZAR |
Underwriter | 15,800 ZAR |
Underwriting Assistant | 14,800 ZAR |
Vice President of Finance | 61,900 ZAR |
Accounting and Finance Jobs Pay Scale and Salaries in South Africa
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/south-africa/accounting-and-finance/median-and-salary-distribution-monthly-south-africa-accounting-and-finance.jpg Salary Structure and Pay Scale Comparison
5% of people earn
32,900 ZAR or more
10% of people earn
27,800 to 32,900 ZAR
20% of people earn
16,700 ZAR or less
65% of people earn
16,700 to 27,800 ZAR
Minimum Salary 13,000 ZAR |
Median 28,800 ZAR |
Maximum 64,400 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 in Accounting and Finance in South Africa range from 13,000 ZAR (starting average salary) to 64,400 ZAR (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.
Median Salary
The median income in the field of Accounting and Finance is 28,800 ZAR, implying that half of the workforce in South Africa earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.
Percentiles and Salary Scale
Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Accounting and Finance in South Africa earn less than 22,600 ZAR, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 34,800 ZAR, while 25% earn more than that.
Pay Scale Structure
Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Accounting and Finance in South Africa. The analysis revealed that roughly 65% of all reported salaries fell within the range of 16,700 ZAR to 27,800 ZAR. Approximately 20% of salaries were below the 16,700 ZAR mark, while 10% ranged from 27,800 ZAR to 32,900 ZAR. Only 5% of individuals earned a gross salary of 32,900 ZAR or higher.
Salary Comparison by Years of Experience
How does a person's salary progress over time?
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/images/salary-by-experience.jpg The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage.
Generally speaking, employees in Accounting and Finance in South Africa having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.
Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.
As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.
Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.
Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.
“ On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark. ”
Salary Comparison By Education
How does the education level affect your salary?
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/images/salary-comparison-by-education.jpg Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.
It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income?
We compared the salaries of professionals at the same level but with different college degree levels across many jobs in Accounting and Finance in South Africa, below are our findings.
Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.
Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a certificate or diploma.
Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.
Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.
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.
Employees can't expect any salary increases during the study period, assuming they 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 this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
The decision really depends on the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.
Salary and Compensation Comparison By Gender / Accounting and Finance / South Africa
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/south-africa/accounting-and-finance/salary-comparison-by-gender-monthly-south-africa-accounting-and-finance.jpg Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? In the field of Accounting and Finance in South Africa, the average difference between the salary of male and female employees is 8%.
Male | | 33,700 ZAR |
Female | -7% | 31,300 ZAR |
Percentage increase and decrease are relative to the previous value
Salary Comparison By Gender in South Africa for all Careers
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/south-africa/salary-comparison-by-gender-monthly-south-africa.jpg
Average Annual Salary Increment Percentage / Accounting and Finance / South Africa
How much are annual salary increments in South Africa for individuals working in Accounting and Finance? How often do employees get salary raises?
Professionals working in Accounting and Finance in South Africa are likely to observe a salary increase of approximately 10% every 16 months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/south-africa/accounting-and-finance/annual-salary-increment-rate-south-africa-accounting-and-finance.jpg 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
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/south-africa/annual-salary-increment-rate-south-africa.jpg 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
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/images/salary-increment-world.jpg 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 and Finance / South Africa
How much and how often are bonuses being awarded?Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/south-africa/accounting-and-finance/annual-salary-bonus-rate-south-africa-accounting-and-finance.jpg
25% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 75% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 6% to 8% of their annual salary.
Received Bonus | | 75% |
No Bonus | | 25% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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 Generators | Supporting 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.
Hourly Average Wage / Accounting and Finance / South Africa
190 ZAR
per hour The average hourly wage (pay per hour) in Accounting and Finance in South Africa is 190 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 in Accounting and Finance in South Africa is 75 ZAR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Salary Comparison By City
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 in Accounting and Finance in South Africa?
A good and competitive compensation would range anywhere between 28,800 ZAR and 34,800 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 jobs in Accounting and Finance in South Africa ranges from 13,000 ZAR to 22,600 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