Of course, the field of financial accounting can be a very richly rewarding one. Accountants are highly sought after and well paid because they control the cash flow of any organization. Accountants must be highly motivated because, with their careful and zealous work, organizations would soon go out of business; either by a lack of structured spending or from embezzlement.
As a young person looking to decide upon a career path, your interest in Financial Accounting is well-founded. There is no shortage of job placements in this field of work, and if you come highly recommended you can land yourself a very lucrative position indeed.
The following paragraphs contain information about the Top Paying Accounting Jobs in South Africa, to help you make a decision about what kind of accounting you want to do.
Top 10 Highest Accounting Jobs In South Africa
1. Chief Financial Officer (JSE Top 200)
Salary Scale: (Per Year) R2 000 000 – R3 200 000
The Chief Financial Officer of a company that is publicly traded on the Johannesburg Stock Exchange is a very important person. He is in charge of the financial aspect of the company, including Taxation, Staff Pay, and most importantly the declared profit and loss, as well as settlement of the company’s investors. Of course, the person who occupies this position is going to be a rather wealthy person; taking home around R2,000,000, with the pay getting as high as R3,200,000 per year making it the highest paying accounting jobs in South Africa.
2. Finance Director (Large firm)
Salary Scale: R1 700 000 – R3 000 000 Per Year.
As the job title explains, the person who fills this position would be in control of the company’s finances. That exalted position puts him in charge of all monies coming in and going out, as well as staff remuneration, and all other things that have to do with cash. It is also his responsibility to audit the accounts of the various departments of the organization.
3. CFO/FD (SME)
Salary Scale: (Per Year) R1 400 000 – R2 000 000
The Chief Financial Officer of a Small or Medium Scale Enterprise is the person in charge of the finances of the company. He plays a similar role to the two mentioned above, the major difference being the fact that the organization is smaller than the two highlighted above, and for this reason the amount of cash he handles is considerably smaller. The CFO would also be a pivotal member of the management team as they strive to bring their company to the top tier of companies, maybe taking it public.
4. Senior Finance Manager
Salary Scale: (Per Year) R1 000 000 – R1 500 000
The Senior Finance Manager of a company is one of the highest paying accounting jobs in South Africa, an important member of the management. He is just a step below the board of directors, and so he oversees the spending of the various departments, and also monitors the inflow of cash from the company’s various cash channels, while reporting to the Financial Director who notifies the Board. It is his job to plug all roles through which the company may be losing money; he audits the accounts of the various departments.
5. Finance Manager
Salary Scale: (Per Year) R750 000+
The Finance Manager could be the head accountant of a branch of a company; he would be responsible for the actual releasing of funds to the various departments, and also receiving money made in sales of the company’s products. He would also be in charge of keeping the books, and making periodic reports to his superiors within the structure of the company.
6. Newly-qualified CA (SA)
Salary Scale: (Per Year) R550 000 – R680 000
As a newly qualified Certified Accountant working in a company in South Africa you should expect to make around R550 000 – R680 000 a year. That is almost double what some young professionals, newly qualified to their fields make in a year. You could be put directly below a Finance Manager at a branch of the company, where you will be directly involved in the day to day activities of the organization.
7. CA (SA) 6+ years’ experience
Salary Scale: (Per Year) R1 000 000 – R1 400 000
As a Certified Accountant with 6 years of working experience, you should be a highly valued professional. Your expertise should earn you around R1 000 000 – R1 400 000 a year, and you should have taken up more responsibilities within the organization.
8. CA (SA) 4+ years’ experience
Salary Scale: (Per Year) R800 000 – R950 000
A Certified Accountant with 4 years of working experience should earn around R800 000 – R950 000 per year working for a big company in South Africa. in this position you should already be given more responsibility within the company, perhaps working directly with the Finance Manager.
9. CA (SA) 2+ years’ experience
Salary Scale: (Per Year) R650 000 – R780 000
As a Certified Accountant with two years of working experience your prospective employers should be ready to pay around R650 000 – R780 000 for your services, making a CA one of the highest paying schools in South Africa.
10. Audit Manager
Salary Scale: (Per Year) R750 000 – R1 000 000
The Audit Manager’s job is to look for loopholes through which the company might be losing money, either through the legitimate daily running of the organization, or by willful misappropriation of funds by members of staff. For this role you should earn around R750 000 – R1 000 000 per year.
11. Qualified CIMA (3-5 years’ experience)
Salary Scale: (Per Year) R700 000 – R1 000 000
With your qualification as a member of the Chartered Institute of Management Accountants having 3 to 5 years experience in the field, you should be making around R700 000 – R1 000 000 per year. In this position you should carry out a wide range of responsibilities within the organization.
12. Qualified CIMA (1-3 years’ experience)
Salary Scale: (Per Year) R550 000 – R750 000
Qualified members of the Chartered Institute of Management Accountants with 1 to 3 years of experience you should make around R550 000 – R750 000 per year, depending on the organization you work with. This position will also expose you to work with different departments of the organization, thus increasing the experience you have.
13. Internal Manager
Salary Scale: (Per Year) R400 000 – R600 000
The Internal Manager of a company is more than just a person who counts money; he is a part of the management team, perhaps of the branch where he is stationed. For this role you should earn around R400 000 – R600 000 per year.
Accounting can be a very rewarding career path indeed. Companies need accountants to keep track of the money, and so they must pay them well. Furthermore, in order for the accountants not to be tempted to take part in shady deals themselves they have to be well paid. The best part is; as you gather years of experience on the job, so does your potential pay continue to rise.