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Financial Analyst Average Salary in Johannesburg 2024

How much money does a person working as Financial Analyst make in Johannesburg?


Average Monthly Salary
42,000 ZAR
( 504,000 ZAR yearly)

LOW
21,400
ZAR
AVERAGE
42,000
ZAR
HIGH
64,700
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 Financial Analyst in Johannesburg typically earns around 42,000 ZAR. Salaries range from 21,400 ZAR (lowest) to 64,700 ZAR (highest).


Salary Variance

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



Financial Analyst Pay Scale and Salaries in Johannesburg

Median and salary distribution Johannesburg Financial Analyst monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
38,300 ZAR or more
10% of people earn
34,100 to 38,300 ZAR
20% of people earn
24,600 ZAR or less
65% of people earn
24,600 to 34,100 ZAR
Minimum Salary
21,400 ZAR
Median
38,500 ZAR
Maximum
64,700 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 Financial Analyst in Johannesburg range from 21,400 ZAR (starting salary) to 64,700 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 38,500 ZAR, half of the professionals who work as Financial Analyst in Johannesburg 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 Financial Analyst in Johannesburg earn less than 31,800 ZAR, while 75% earn more. Similarly, the chart shows that 75% earn less than 43,800 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 Financial Analyst in Johannesburg compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 24,600 ZAR to 34,100 ZAR. About 20% of salaries are below the 24,600 ZAR mark, while 10% fall within the range of 34,100 ZAR to 38,300 ZAR. Only 5% of individuals have salaries exceeding 38,300 ZAR.

Salary Comparison by Years of Experience / Financial Analyst / Johannesburg

How do experience and age affect pay?

0 - 2 Years
24,000 ZAR
2 - 5 Years+31%
31,400 ZAR
5 - 10 Years+40%
43,900 ZAR
10 - 15 Years+20%
52,800 ZAR
15 - 20 Years+9%
57,300 ZAR
20+ Years+8%
61,900 ZAR
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Johannesburg Financial Analyst
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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 Financial Analyst 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 24,000 ZAR.

While someone with an experience level between two and five years is expected to earn 31,400 ZAR, 31% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 43,900 ZAR, 40% 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 52,800 ZAR, 20% 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 57,300 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 61,900 ZAR, 8% 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 / Financial Analyst / Johannesburg

How do education levels affect salaries?

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

High School
28,800 ZAR
Certificate or Diploma+15%
33,100 ZAR
Bachelor's Degree+41%
46,500 ZAR
Master's Degree+29%
59,900 ZAR
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Johannesburg Financial Analyst
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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 Financial Analyst in order to make a comparison.


Level 1: High School

Employees at this education level have an average salary of 28,800 ZAR.


Level 2: Certificate or Diploma

At this level, the average salary becomes 33,100 ZAR, 15% more than the previous level.


Level 3: Bachelor's Degree

At this level, the average salary becomes 46,500 ZAR, 41% more than the previous level.


Level 4: Master's Degree

At this level, the average salary becomes 59,900 ZAR, 29% 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 / Financial Analyst / Johannesburg

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

Male
41,200 ZAR
Female-7%
38,100 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 / Financial Analyst / Johannesburg

How much are annual salary increments in Johannesburg for individuals working as Financial Analyst? How often do employees get salary raises?

Individuals working as Financial Analyst 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 Financial Analyst
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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 / Financial Analyst / South Africa

How much and how often are bonuses being awarded?Annual Salary Bonus Rate South Africa Financial Analyst
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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 / Financial Analyst / Johannesburg


240 ZAR per hour

The average hourly wage (pay per hour) for individuals working as Financial Analyst in Johannesburg is 240 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 Financial Analyst in Johannesburg is 120 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 Examiner17,300 ZAR-59%
Account Executive30,600 ZAR-27%
Accountant23,400 ZAR-44%
Accounting Analyst27,300 ZAR-35%
Accounting Assistant17,600 ZAR-58%
Accounting Associate16,000 ZAR-62%
Accounting Clerk14,000 ZAR-67%
Accounting Coordinator20,800 ZAR-50%
Accounting Head48,400 ZAR+15%
Accounting Manager49,600 ZAR+18%
Accounting Officer17,500 ZAR-58%
Accounting Specialist30,600 ZAR-27%
Accounting Supervisor31,200 ZAR-26%
Accounting Technician16,500 ZAR-61%
Accounting Unit Controller39,400 ZAR-6%
Accounts Executive30,900 ZAR-26%
Accounts Officer18,800 ZAR-55%
Accounts Payable and Receivable Specialist23,900 ZAR-43%
Accounts Payable Assistant18,100 ZAR-57%
Accounts Payable Associate21,500 ZAR-49%
Accounts Payable Clerk16,600 ZAR-60%
Accounts Payable Manager46,900 ZAR+12%
Accounts Receivable Administrator35,000 ZAR-17%
Accounts Receivable Clerk16,900 ZAR-60%
Accounts Receivable Financial Analyst33,300 ZAR-21%
Accounts Receivable Manager46,800 ZAR+11%
Accounts Receivable Team Leader33,300 ZAR-21%
Algorithmic Trading Specialist41,300 ZAR-2%
Assistant Accountant18,100 ZAR-57%
Assistant Accounting Manager42,700 ZAR+2%
Assistant Auditor23,500 ZAR-44%
Assistant Corporate Controller30,000 ZAR-29%
Assistant Finance Manager47,500 ZAR+13%
Assistant Financial Controller31,300 ZAR-25%
Audit Director51,700 ZAR+23%
Audit Supervisor43,600 ZAR+4%
Auditing Clerk18,800 ZAR-55%
Auditing Manager46,400 ZAR+10%
Billing Clerk18,300 ZAR-56%
Billing Coordinator21,000 ZAR-50%
Billing Specialist24,500 ZAR-42%
Billing Supervisor36,700 ZAR-13%
Bookkeeper15,200 ZAR-64%
Bookkeeping Specialist22,500 ZAR-46%
Budget Analyst37,900 ZAR-10%
Budget Manager48,200 ZAR+15%
Business Support Analyst26,400 ZAR-37%
Capital Markets Associate36,500 ZAR-13%
Cash Flow Analyst33,800 ZAR-20%
Cash Management Manager47,000 ZAR+12%
Cash Management Officer26,100 ZAR-38%
Cashbook Clerk16,300 ZAR-61%
Chartered Accountant30,800 ZAR-27%
Chief Accountant33,100 ZAR-21%
Chief Financial Technology Officer46,800 ZAR+11%
Collections Clerk14,100 ZAR-66%
Collections Representative20,900 ZAR-50%
Collections Specialist24,400 ZAR-42%
Corporate Controller36,200 ZAR-14%
Corporate Treasurer45,700 ZAR+9%
Cost Accountant22,700 ZAR-46%
Cost Accounting Manager45,600 ZAR+9%
Cost Accounting Supervisor38,900 ZAR-7%
Cost Analyst38,700 ZAR-8%
Credit and Collection Manager46,700 ZAR+11%
Credit and Collection Staff17,400 ZAR-59%
Credit and Loans Officer16,800 ZAR-60%
Credit Controller32,100 ZAR-24%
Credit Manager46,500 ZAR+11%
Debt Adviser38,300 ZAR-9%
Debt Collector17,900 ZAR-57%
Debtors Clerk15,500 ZAR-63%
Debtors Controller17,500 ZAR-58%
Deputy CFO65,100 ZAR+55%
Deputy Head of Finance66,200 ZAR+58%
Derivative Trader38,800 ZAR-8%
Director of Finance70,000 ZAR+67%
E-commerce Accountant25,100 ZAR-40%
Economist53,500 ZAR+27%
Equity Analyst40,200 ZAR-4%
Escrow Assistant21,100 ZAR-50%
Executive Accountant25,200 ZAR-40%
External Auditor33,100 ZAR-21%
Finance Administrator27,000 ZAR-36%
Finance Analyst42,700 ZAR+2%
Finance Associate19,300 ZAR-54%
Finance Data Analyst36,700 ZAR-13%
Finance Director69,400 ZAR+65%
Finance Executive50,200 ZAR+20%
Finance Licensing Clerk16,500 ZAR-61%
Finance Licensing Manager46,200 ZAR+10%
Finance Licensing Specialist25,100 ZAR-40%
Finance Manager63,100 ZAR+50%
Finance Officer23,100 ZAR-45%
Finance President67,300 ZAR+60%
Finance Relationship Manager56,200 ZAR+34%
Finance Release Analyst26,400 ZAR-37%
Finance Specialist39,500 ZAR-6%
Finance Team Leader 52,000 ZAR+24%
Financial Accountant23,500 ZAR-44%
Financial Actuary34,100 ZAR-19%
Financial Administrator37,200 ZAR-11%
Financial Advisor41,600 ZAR-1%
Financial Analyst42,000 ZAR+0%
Financial Applications Specialist28,200 ZAR-33%
Financial Assistant19,300 ZAR-54%
Financial Associate23,200 ZAR-45%
Financial Claims Analyst31,300 ZAR-25%
Financial Claims Manager39,600 ZAR-6%
Financial Claims Supervisor39,000 ZAR-7%
Financial Clerk17,300 ZAR-59%
Financial Commercial Analyst34,600 ZAR-18%
Financial Compliance Analyst38,500 ZAR-8%
Financial Compliance Officer38,100 ZAR-9%
Financial Consultant32,300 ZAR-23%
Financial Controller36,600 ZAR-13%
Financial Coordinator21,400 ZAR-49%
Financial Customer Service Manager43,300 ZAR+3%
Financial Data Scientist43,000 ZAR+2%
Financial Dealer and Broker26,300 ZAR-37%
Financial Director69,100 ZAR+65%
Financial Encoder20,000 ZAR-52%
Financial Manager62,100 ZAR+48%
Financial Modelling Analyst39,800 ZAR-5%
Financial Operations Manager58,700 ZAR+40%
Financial Policy Analyst35,600 ZAR-15%
Financial Project Manager47,300 ZAR+13%
Financial Quantitative Analyst41,200 ZAR-2%
Financial Reporting Consultant32,600 ZAR-22%
Financial Reporting Manager43,900 ZAR+5%
Financial Section Head42,600 ZAR+1%
Financial Services Manager59,900 ZAR+43%
Financial Services Sales Agent24,300 ZAR-42%
Financial Technology Consultant36,900 ZAR-12%
Financial Wellness Coach46,200 ZAR+10%
FinTech Analyst41,100 ZAR-2%
Fixed Assets Administrator24,000 ZAR-43%
Forensic Accountant28,400 ZAR-32%
Fraud Detection Supervisor28,000 ZAR-33%
Fraud Prevention Manager49,000 ZAR+17%
Fund Accountant22,100 ZAR-47%
Grants Coordinator16,500 ZAR-61%
Green Finance Analyst34,800 ZAR-17%
Group Financial Manager64,000 ZAR+52%
Internal Auditor30,300 ZAR-28%
Internal Control Adviser35,700 ZAR-15%
Internal Control Officer20,900 ZAR-50%
International Tax Director54,400 ZAR+30%
Inventory Accountant25,200 ZAR-40%
Investment Advisor59,200 ZAR+41%
Investment Analyst46,300 ZAR+10%
Investment Associate37,400 ZAR-11%
Investment Broker37,700 ZAR-10%
Investment Fund Manager52,700 ZAR+25%
Investment Operations Manager53,100 ZAR+26%
Investment Underwriter19,300 ZAR-54%
Investor29,800 ZAR-29%
Investor Relations Manager44,400 ZAR+6%
KYC Team Leader44,400 ZAR+6%
Loan Processor19,000 ZAR-55%
Management Accountant26,700 ZAR-36%
Management Economist51,400 ZAR+22%
Paymaster19,300 ZAR-54%
Payroll Administrator29,300 ZAR-30%
Payroll Benefits Coordinator25,800 ZAR-39%
Payroll Billing Manager40,900 ZAR-3%
Payroll Clerk20,500 ZAR-51%
Payroll Manager41,300 ZAR-2%
Payroll Officer20,700 ZAR-51%
Payroll Specialist23,700 ZAR-44%
Payroll Supervisor30,500 ZAR-27%
Pensions Administrator23,400 ZAR-44%
Personal Financial Advisor34,700 ZAR-17%
Pricing Analyst37,500 ZAR-11%
Private Equity Analyst42,900 ZAR+2%
Project Accountant24,400 ZAR-42%
Proposal Development Coordinator19,600 ZAR-53%
Quantitative Trader32,600 ZAR-22%
Receivables Accountant21,100 ZAR-50%
Regulatory Accountant25,400 ZAR-40%
Retirement Plan Analyst36,200 ZAR-14%
Revenue Management Specialist39,800 ZAR-5%
Revenue Recognition Analyst41,300 ZAR-2%
Risk Management Director53,700 ZAR+28%
Risk Management Supervisor46,900 ZAR+12%
Staff Accountant21,300 ZAR-49%
Tax Accountant22,700 ZAR-46%
Tax Administrator24,700 ZAR-41%
Tax Advisor36,900 ZAR-12%
Tax Analyst35,400 ZAR-16%
Tax Associate19,600 ZAR-53%
Tax Consultant35,400 ZAR-16%
Tax Director54,500 ZAR+30%
Tax Examiner25,000 ZAR-40%
Tax Manager46,400 ZAR+10%
Tax Research Manager49,100 ZAR+17%
Teller13,800 ZAR-67%
Treasury Accountant24,200 ZAR-42%
Treasury Analyst39,900 ZAR-5%
Underwriter16,100 ZAR-62%
Underwriting Assistant16,000 ZAR-62%
Vice President of Finance62,200 ZAR+48%

Salary Comparison By City

CityAverage Salary
Cape Town44,600 ZAR
Johannesburg42,000 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 Financial Analyst in Johannesburg?

A good and competitive compensation would range anywhere between 38,500 ZAR and 43,800 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 a careers like Financial Analyst in Johannesburg ranges from 21,400 ZAR to 31,800 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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