In 2023, the average accountant’s salary in South Africa is R23,231.00 per month. According to the government’s Quarterly Employment Statistics, which set the average income at R23,982.00, the figure is 3.2% less than the average salary in South Africa.
Accounting practice is vast due to the diversity of accounting professions. Additionally, an accountant’s median pay will probably depend on their level of expertise.
We analyze every sort of accounting profession in South Africa in this article, including accountants that are registered with various professional bodies like SAICA (South African Institute of Chartered Accountants). The following is a discussion of each accounting professional’s salary in South Africa.
Average Chartered Accountant Salary in South Africa
The average annual salary for a chartered accountant in South Africa is R700,000.00. Chartered accountants can work in or out of the public practice setting. In addition, being a chartered accountant is one of the most difficult jobs because training is necessary and can be completed before or after earning a degree. However, it is a high-paying profession.
The amount of experience a person has an impact on their ability to earn as a Chartered Accountant. According to the Robert Walters individual salary benchmark, a Chartered Accountant in South Africa may expect to earn an entry-level income of between R550,000.00 and R750,000.00 per year. This is for chartered accountants with between 0 and 2 years of experience.
People with 4 to 7 years of experience make between R800,000.00 and R1,200,000.00 annually, according to the same statistics. The highest earners are Chartered Accountants with a minimum of ten years of professional experience. These people most likely make an annual salary between R1,600,000 and R2,200,000.
As of 2023, the median income for chartered accountants was R489,21.00 annually, according to payscale. A minimum salary of R858,000.00 or more can be earned annually by those who fall within the 90th percentile. According to payscale statistics, Chartered Accountants’ annual bonuses can range from R6,000.00 to R119,000.00, and their commissions can be anywhere from R0.00 and R28,000.00.
The company that a chartered accountant works for has some bearing on their salary. Payscale has been able to keep track of some of the top accounting firms and financial institutions in terms of their average salaries for Chartered Accountants. Average salaries for Chartered Accountants vary depending on the company. The average compensation for chartered accountants at the following companies was observed:
Average Chartered Accountant Salary By Company
|#||Company Name||Average salary for a Chartered Accountant|
|1||Deloitte & Touche LLP||R499,666.00|
|2||Old Mutual Asset Managers||R461,013.00|
|4||Standard Bank of South Africa||R786,000.00|
|6||Auditor General – SA||R578,775.00|
|11||Ernst & Young||R420,000.00|
Average Financial Accountant Salary in South Africa
The level of income earned by financial accountants reflects the important function they play in businesses. Financial accountants make an average gross yearly compensation of R341,400.00 according to Jobted.
The website states that financial accountants with 0 to 3 years of experience may expect to get a starting gross income of between R13,945.00 and R20,860.00. According to Jobted, the starting wage for financial accountants is R190,000.00 per year.
The average gross salary for those with intermediate experience (4–9 years) is predicted to be R320 000 annually. The estimated monthly salary for intermediate-level workers ranges from R20,900 to R33,300.00.
Senior financial accountants are paid the most and are at the top of the totem pole. Senior Financial Accountants make an average of R500,000.00 per year (ten or more years of experience). These individuals can make anywhere from R34,000.00 to R50,000.00 annually.
A Bcom degree in financial accounting or a diploma is typically required of financial accountants. Bonuses are part of the job of a financial accountant. However, they mostly depend on the employer. The bonuses range from R10,000 to R61,000.
Commissions are another component of the pay for financial accountants. Commissions might be anywhere from R1,000 to R20,000. Similar to bonuses, commissions are given out based on the employer.
According to data gathered by Payscale, we present the average wages of financial accountants employed by various companies. The list is shown here, with no particular emphasis on order.
Average Financial Accountants Salary in South Africa by top employers
|#||Company Name||Average Salary Per Annum|
|1||FNB (First National BANK)||R422,500.00|
|3||Mr Price Group||R318,000.00|
Trainee Accountants Salary in South Africa
Those who seek to register with professional accounting bodies like SAICA and CIMA (Chartered Institute of Management Accounts) are considered trainee accountants. Those who wish to register with these professional bodies must complete a training course that might span anywhere from three to seven years.
Different employers in the public or private sector and from various industries participate in training programs. Since this is a training program, those who are in it will receive compensation to some extent in order to develop the level of competency necessary by the relevant professional body.
Depending on their level of experience, trainee accountants vary just like different accountants. A trainee account makes an average salary of R180,000.00, according to SA Facts. More experienced workers may earn up to R280,000.00 annually.
The average pay for Trainee Accounts is R13,750.00 per month, or R165,000.00 annually, according to statistics gathered by ZATalent. The results showed that the lowest monthly wage for people with 0 to 2 years of experience was R11,500.00. One will be able to earn more money as they gain more experience.
For individuals who wish to register with a professional body, those who want to start a SAIPA traineeship make the least money. A SAIPA trainee is eligible for a monthly pay of at least R8,000.00. However, those with more experience can earn upwards, with salaries of R15,000.00 per month according to ZATalent.
Part-qualified CA (SA) Salary in South Africa
Part-qualified (CA) SAs are generously compensated, and those with vast experience are paid well. Robert Walters estimates that individuals with 0 to 2 years of experience who are part qualified CAs (SA) make between R300,000.00 and R400,000.00 annually.
The same report claims that those with 4 to 7 years of experience make a minimum pay of R550,000 and a maximum income of R800,000. The most compensated part-qualified CAs (SAs) have 10+ years of experience. Between R1,000,000 and R1,500,000 is what these people make annually.
Part-Qualified Cima Salary in South Africa
Those who have an honours degree and are pursuing CIMA accreditation are considered part qualified CIMA. Despite not earning as much as the partially qualified (CA) SA, these individuals nonetheless make more money than the typical university graduate. As of 2023, part-qualified CIMA permanent workers with 0–2 years of experience can expect to make between R180,000.00 and R250,000.00.
Those with 4 to 7 years of work experience are in the midrange. According to Robert Walters, these individuals make between R350,000.00 and R450,000.00 annually. The top earners are part qualified CIMAs with 10+ years of experience who make between R600,000 and R800,000 annually.
Tax Accountants Salary in South Africa
Some of the highest paid accountants in South Africa are tax accountants. This is due to the difficult nature of their work, which necessitates extensive knowledge of the law governing tax administration and other types of taxation. Tax accountants can work in both the public and private sectors, as well as provide their services to businesses that have non-profit status.
A tax accountant makes, on average, R344,348.00 a year, according to Payscale.According to the survey, a tax accountant who falls within the 10th percentile makes R50,000 annually. Those with more experience are generously compensated. As of 2023, the R534,000.00 yearly pay is for those in the 90th percentile.
Robert Walters’ data reveals that tax accountants earn comparable wages. Earnings for tax accountants with 0 to 2 years of experience range from R350,000 to R450,000 annually. Tax accountants with 4 to 7 years of experience can expect to make between R600,000.00 and R750,000.00. The study found that tax accountants with more than 10 years of expertise can make between R900,000 and R1,100,000 annually.
The job search engine Indeed offers a more thorough analysis of the salaries of tax accountants in South Africa by province. According to Indeed, the typical tax accountant salary in South Africa is R43,561.00 per month. The job-search website also revealed that tax accountants in South Africa make an average pay of R615,254.00 annually.
The following annual compensation for tax accountants is what the highest paying cities in South Africa pay on average, according to data that Indeed has gathered on job postings made by businesses on the website.
List of highest paying cities for tax accountants in South Africa
|1||Johannesburg North, Gauteng||R738,807.00|
|5||Cape Town, Western Cape||R608,693.00|
|6||Northern Suburbs, Western Cape||R547,195.00|
Commissions, bonuses, and benefits are given to tax accountants, but they vary greatly by company or organization. Tax accountants receive an annual bonus ranging from R8,000.00 to R93,000.00, according to Payscale. These performance-based bonuses are often collected at year-end through a single paycheck.
Additionally, tax accountants are eligible to get commissions, which range from R0.00 to R133,000.00 according to Payscale. Health benefits, which might vary depending on the company, can include contributions to medical insurance, dental insurance, and vision insurance.
Bookkeeping Salary in South Africa
When needed, bookkeepers give a business the crucial financial instruments, they are the jewel of the company’s finances. They make sure a business maintains its economic viability and manages its money. Different pieces of software are used by bookkeepers to check the accuracy of the financial records and more.
In South Africa, bookkeepers receive fair pay for their labour. A bookkeeper with 0 to 4 years of experience can expect to make between R103,000.00 and R155,000.00 annually, per Payscale. The profession’s lowest paid workers are those in this category.
More money is paid to those with 5 to 9 years of experience than to those with 4 years or less. Payscale estimates that individuals with 5 to 9 years of experience may expect to make between R156,000.00 and R189,000.00 annually. People with 10+ years of experience make at least R210,000.00 annually.
According to additional similar data from Indeed, as of 2023, a bookkeeper in South Africa will likely make an average pay of R14,707 per month. Additionally, bookkeeper salaries in South Africa are broken down by city. The following table shows the highest bookkeeper salaries by city.
South Africa’s cities with the highest bookkeeper salaries as of 2023
|#||City||Average Salary PM|
|1||Johannesburg North, Gauteng||R18,263.00|
|4||Cape Town, Western Cape||R16,676.00|
|7||Paarl, Western Cape||R14,441.00|
|8||Bloemfontein, Free State||R13,324.00|