The job of a chartered accountant can be demanding, and as such, the average chartered accountant is reasonably paid. In South Africa, chartered accountant salaries are some of the best you will come across, for obvious reasons.
Chartered Accountant Salaries In South Africa (Average)
The average chartered accountant salary in South Africa is R 662 000 per annum. This is understandable because of the uniqueness of this profession, and the great training you must undergo before you can become one.
It should however be noted that the salary quoted here is not static, but can be influenced by different factors, just like in other professions in South Africa.
Firstly, the salary of a chartered accountant in South Africa can be determined by their experience and level. An entry level position chartered accountant can start with a salary of R 450 000per annum. This is still reasonably ahead of several other careers and professions in the country, and considering the efforts you must engage before you can become a chartered accountant, then it is worth the salary.
On the other hand, the most experienced chartered accountants in South Africa can earn over R 7 800 000 per annum, which is justifiable due to their unique contributions and knowledge.
Another prominent factor that determines the salary of a chartered accountant in South Africa is where they are working. Big organizations usually pay much more lucrative salaries to these professionals, compared to smaller ones.
How Much Does Chartered Accountants Earn In South Africa Monthly
The average chartered accountant’s monthly salary in South Africa is R 52 833. If you want to have an idea of the monthly take home of a chartered accountant in this country, you can work with this figure.
Nevertheless, this is just an estimate. It means, there are chartered accountants earning much more than that each month, while there are others not earning up to that yet. The monthly salary of a chartered accountant is determined by some factors.
A new chartered accountant can make around R 35 500 per month as a salary, which is still better than the monthly salary of some of their peers in other fields. But as a chartered accountant progresses in their career, they can start earning much more.
There are very experienced chartered accountants in South Africa earning a monthly salary of around R 650 000. One of the prominent factors that determine the monthly salary of a chartered accountant is the organization they are working for.
Best Places To Work As A Chartered Accountant In South Africa
It is important to start this discourse by advising that you work in a place you are passionate about, where your well-being is guaranteed.
However, if you are particular about certain established organizations where you as a chartered accountant will be duly appreciated and compensated, then you can consider these:
1. Deloitte
Deloitte is a global company in the Acocounting and Tax industry with a good presence in South Africa. Over 10000 employees are working under this brand already, and you can join them for a rewarding career as a chartered accountant.
The estimated total salary of a Chartered Accountant working at Deloitte is around R 537,426 per annum, which is about R 44 785 per month. This is one of the best you can see anywhere.
2. PwC
PwC is another nice place you can work as a chartered accountant in South Africa. This global company is also a leader in the Accounting and Tax industry, and have employed over 10000 people already.
If you crave for an exciting and challenging place to work as a chartered accountant, you should look towards the direction of PwC. The average salary of a chartered accountant in PwC is around R440,578 per annum.
If you can get a job in PwC, you can start aiming at an average monthly salary in the range of R 36 714. This can be higher if you are an experienced chartered accountant. However, on a general note, it is one of the best you will find in South Africa.
3. EY
If you care for a challenging environment as a chartered accountant, you should consider working with EY too. In this place, you will find some of the brightest minds that will keep inspiring you towards pleasant growth in your career.
You should be aware already that this brand is also a very big global company in this industry, and structures are already in place to help you enjoy working at the company. The estimated total salary for a Chartered Accountant at this company is R 532 500 per annum.
This means that if you are wondering what your salary will be as an employee of EY, you can place your expectations around R 44 375 per month. Earning this salary each month is reasonably ahead of the national benchmark, and you should be aware that many other professions are not paying up to that in the country.
Additionally, if you are really experienced and enhanced, you can expect soketh much better than the figure quoted and highlighted here. This is because, a senior chartered accountant is paid more than fresh ones. So, ensure you always aim for nothing but the best.
4. BDO
BDO is another exciting company you can choose to run your career as a chartered accountant in South Africa. Of course, as a professional, you have the liberty of exploring different types of things and sectors, according to what you desire as a person.
However, there are advantages to working with companies like this as a chartered accountant, as your career will benefit from the rich working environment you will blend into. This is a place you will come across various very experienced chartered accountants who will gladly help you to be great, and you will like it.
An average salary that can be quoted for an average chartered accountant that is working in BDO is R295,299 per annum. Kindly note that this can be a little bit lower, and it can also be much higher, depending on some factors.
5. Grant Thornton
Grant Thornton is a finance and accounting company that can be really to a chartered accountant interested in a rewarding career. Here is a global company with many workers, and it is bent on nothing but quality.
You can make good money per annum working for Grant Thornton as a chartered accountant. While the average Audit Manager here can enjoy as much as R 732 662 per year, the Trainee Accountant will get around R 189 390 per annum. Indeed, working here can be pretty lucrative and rewarding to your career.
Chartered Accountant Salaries In South Africa Facts
1. The average chartered accountant in South Africa can earnR 662 000per annum if they can find work at a great organization, particularly in Johannesburg.
2. The average salary of the average chartered accountant is well above the national benchmark, making the career one of the most rewarding in terms of salaries. The average chartered accountant earns R 339per hour.
3. Entry-level positions salary is aroundR 450 000per annum, which affords the fresh worker to earn reasonably well while starting their career.
4. Most experienced chartered accountants in South Africa get up toR 7 860 000per annum as salary.
5. There are different categories of Chartered Accountants in the country, divided across various lines. Nevertheless, the category that tends to get the lowest salaries are fresh Chartered Accountants.
6. Just like what is available in several other countries and sectors, more experienced and skilled accountants such as Chartered Management Accountants, are at the forefront when it comes to getting lucrative salaries.
7. Level of experience determines the salary scale in a lot of settings. Those with less than three years of experience can expect to earn an average salary of R 300 000 per annum.
8. An intermediate level Chartered Accountant in South Africa with 4-9 years of experience and expertise can expect an average salary of R 480 000 per annum. These are expected to have gathered relevant skills that have placed them ahead of the fresh set of accountants that are just being introduced to the system.
9. A Senior Chartered Accountant in South Africa with 10-20 years of experience and expertise can expect an average salary of R 600 000 per annum. At this level, the chartered accountant has a lot of indispensable skills and knowledge, and they can even help the younger ones grow in the profession.
10. Chartered Accountants in the country with over 20 years of experience can expect over R720 000 per annum. They are the ones at the top of the game, with great accounting skills and knowledge.
In Conclusion
The average chartered accountant salary in South Africa is around R 662 000, and is well above the national average in the country. This means working as a chartered accountant in South Africa is one of the most lucrative professional jobs in the country.
FAQs
How much does a chartered accountant make in South Africa? ›
How does the salary as a Chartered Accountant at Deloitte compare with the base salary range for this job? The average salary for a Chartered Accountant is ZAR 689,415 per year in South Africa, which is 1% higher than the average Deloitte salary of ZAR 680,379 per year for this job.
How much does a newly qualified CA earn in South Africa? ›The average newly qualified ca salary in South Africa is R 6 480 000 per year or R 3 323 per hour.
What is the average wage for an accountant in South Africa? ›How much does a Accountant make in South Africa? The average accountant salary in South Africa is R 419 778 per year or R 215 per hour. Entry-level positions start at R 270 000 per year, while most experienced workers make up to R 5 622 000 per year.
How much does a saica earn in South Africa? ›How much does a Saica make in South Africa? The average saica salary in South Africa is R 160 988 per year or R 82.56 per hour. Entry-level positions start at R 135 600 per year, while most experienced workers make up to R 474 200 per year.
What is a good salary in South Africa? ›The national average monthly salary in South Africa ranges from a minimum wage of 7,880 ZAR per month (USD 511) to a maximum average salary of 139,000 ZAR per month (USD 9007.) However, the actual maximum salary can be higher based on an employee's experience, educational qualification, etc.
Is CA a good career option in South Africa? ›A highly promising and varied career – As a CA(SA) you can work in just about any industry of choice – in all fields of business and finance and, more specifically, in auditing/assurance, tax, financial management, information technology, management accounting, forensic accounting and insolvency, as well as academia, ...
How much does a CA with 10 years experience earn in South Africa? ›An intermediate level Chartered Accountant with 4-9 years of experience earns an average salary of R 40 000, while a Senior Chartered Accountant with 10-20 years of experience makes on average R 50 000. Chartered Accountants with more than 20 years of experience may earn more than R 60 000 monthly.
Are CA in demand in South Africa? ›Yes, accountants are in high demand in South Africa. The job market for accountants in South Africa is interesting. There are a lot of opportunities available in this field, but it can also be difficult to find a job as an accountant.
Are Chartered Accountants in high demand in South Africa? ›High demand: Accounting is a profession that is in high demand in South Africa, with many businesses and organizations requiring the services of qualified accountants to manage their financial affairs. Good earning potential: Accountants in South Africa are among the highest-paid professionals in the country.
Which type of accountant makes the most money in South Africa? ›Chartered Accountant
The average annual salary for a chartered accountant comes in at over 729,000 ZAR per year.
Which job pays highest salary in South Africa? ›
- Neurosurgeon. Average salary: Between +-R870 000 and +-R3 330 0000 per year. ...
- Lawyer. Average salary: Between +-R230 000 and +-R1 100 000 per year. ...
- Management Consultant. ...
- Architect. ...
- Biomedical Engineer. ...
- Actuary. ...
- Chartered Accountant.
The average salary for an Accountant in SA is R 245 500 gross per year (R 20 460 gross per month), which is 13% lower than the South Africa's national average salary. Salary Range: an Accountant can expect an average starting salary of R 186 470. The highest salaries can exceed R 657 000.
Is 50000 rand a good salary? ›A breakdown of the respondents' pay package showed that 45% earn from R50 000 to R75 000; 24% earn from R75 001 to R100 000, while 31% earn more than R100 000. Asanda Thondlana wrote to Fin24 saying that gross income of R50 000 constitutes as wealthy, considering the average pay in the country.
How much do you need to earn to live comfortably in South Africa? ›You need about R15 000 – R20 000 per month to afford the basics. This also depends on your number of dependents, accommodation situation (living alone, sharing an apartment, and utilities) and lifestyle (gym membership, smoker, alcohol drinker etc).
How much does a junior CA earn in South Africa? ›Entry-level positions start at R 180 000 per year, while most experienced workers make up to R 480 286 per year.
What is the top 1% salary in South Africa? ›| Income per year | Total wealth | |
|---|---|---|
| Top 1% | R2 584 000 | R16 884 350 |
| Top 10% | R783 750 | R2 628 650 |
| Middle 40% | R82 650 | R128 250 |
| Bottom 50% | R12 350 | – R15 200 |
R2,562 (ZAR)/yr
The average stable hand gross salary in South Africa is R194,092 or an equivalent hourly rate of R93. In addition, they earn an average bonus of R2,562. Salary estimates based on salary survey data collected directly from employers and anonymous employees in South Africa.
Changes in the labour market
Taken into account the high cost to company associated with employing a qualified CA(SA), many companies are reconsidering creating or making positions available, which decreases the supply for qualified CA(SA) job positions.
- Mazars. Mazars is an international, integrated and independent organisation, specialising in audit, accounting, tax and advisory services across a range of markets and sectors. ...
- Moore Stephens. ...
- PKF. ...
- BDO.
- PR Niven & Company. ...
- Otonda Chartered Accountants. ...
- SNG Grant Thornton.
...
South African Institute of Chartered Accountants.
| Abbreviation | SAICA |
|---|---|
| Headquarters | Johannesburg, South Africa |
| Region | South Africa |
| Website | www.saica.org.za |
How long is a CA degree in South Africa? ›
Qualifying as a Chartered Accountant (SA) usually takes 7 years (3-year degree; 1-year honours and 3-years internship) provided you are able to complete the undergraduate qualification; postgraduate qualification and board exams in the minimum time.
How much does a first year CA trainee earn in South Africa? ›The average saica trainee accountant salary in South Africa is R 168 000 per year or R 86.15 per hour. Entry-level positions start at R 137 250 per year, while most experienced workers make up to R 1 296 000 per year.
How much does a CA earn in South Africa indeed? ›The average CA Recruitment monthly salary ranges from approximately R 6 000 per month for Entry Level Clerk to R 42 691 per month for Senior Developer.
Can a South African chartered accountant work in USA? ›How do members qualify? A holder of the CA(SA) credential may be eligible to obtain the CPA license via this agreement if he or she is a member in good standing of SAICA and meets the additional criteria set out in each of the applicable U.S. jurisdiction's various state laws and regulations as they apply to: Education.
What jobs will be in demand in 2025 in South Africa? ›- Software Engineer. ...
- Network Administrator. ...
- Data Scientist. ...
- Health and Safety Manager. ...
- Accountants. ...
- Agricultural Engineer. ...
- Lawyer. ...
- Business Consultant.
With an average base salary of $1,84,031, a CA in the USA can easily earn a six-figure salary while working at some top global companies.
Who is the youngest chartered accountant in South Africa? ›North-West University alumnus Shaah Ahmed Ismail Bootha has proven that age is nothing but a number. The highly ambitious and pragmatic chartered accountant matriculated at the age of 15.
Which Chartered Accountants are most difficult in the world? ›Chartered Financial Analyst (CFA) is said to be the world's most difficult and brutal exam in the field of Finance. Every year, a whopping 1,00,000 candidates attempt to crack CFA in over 100 countries.
Is there a shortage of accountants in South Africa? ›According to a government notice sent out by the Department of Home Affairs in February 2021, the chartered accountancy skill is cited on the South African scarce skills list. This means there's an exceptionally high demand for this unique type of skillset in the country, but not enough qualified individuals.
Can accountants make 300k a year? ›Yes, it's quite possible to do that, and more. Most full partners in larger accounting firms will exceed this threshold. Some partners in smaller firms can do this as well. There's no secret sauce.
How much does a senior fund accountant earn in South Africa? ›
The average senior fund accountant salary in South Africa is R 2 400 000 per year or R 1 231 per hour. Entry-level positions start at R 423 000 per year, while most experienced workers make up to R 5 565 000 per year.
What is a good salary in Johannesburg? ›The average salary for jobs in Johannesburg, South Africa is R448,043 (ZAR) per year or an hourly rate of R215 (ZAR). The above data is a sample of data available in ERI's Global Salary Calculator.
What jobs pay more than 1 million a year? ›- Investment banker.
- Certified public accountant.
- Entrepreneur.
- Day trader.
- Real estate agent.
- Engineer.
- Lawyer.
- Actuary.
The traditional high paying jobs in finance, consulting, law, and medicine still top the list of professions that can make $1 million per year. However, there are plenty of jobs where $1 million per year is achievable – even without a college degree.
How much does a CFA earn in Cape Town? ›R28,546 (ZAR)/yr. The average chartered financial analyst (cfa) gross salary in Cape Town, South Africa is R681,285 or an equivalent hourly rate of R328. This is 8% higher (+R52,234) than the average chartered financial analyst (cfa) salary in South Africa.
How much does PwC pay CA trainees in South Africa? ›The estimated total pay for a CA Trainee at PwC is ZAR 14,435 per month.
What is upper middle class salary in South Africa? ›Participants with annual income below R 54,344 were coded as "poor." Participants with income between R 54,345 and R 151,727 as "low-emerging middle class, " R 151,728 to R 363,930 were coded as "emerging middle class, " R 363,931 to R 631,120 as "realized middle class, " R 631,121 to R 863,906 as "upper middle class, ...
What is a comfortable salary in Cape Town? ›The average cape town salary in South Africa is R 340 312 per year or R 175 per hour. Entry-level positions start at R 192 000 per year, while most experienced workers make up to R 3 685 817 per year.
What is the average house price in South Africa? ›...
Average price of residential properties in South Africa in 2021, by metro (in South African rands)
According to a new survey by Genesis Analytics and the Financial Sector Conduct Authority (FSCA), the majority of South Africans cannot afford to retire, let alone continue to fund their current lifestyle. According to Genesis Analytics, only 12% of the 3.6 million retirees had some form of income in 2020.
What salary is considered poor in South Africa? ›
As of 2022, an individual living in South Africa with less than 945 South African rands (roughly 54.69 U.S. dollars) per month was considered poor.
What is the hourly rate for an accountant in South Africa? ›Find out what the average Accountant salary is
The average accountant salary in South Africa is R 407 227 per year or R 209 per hour. Entry-level positions start at R 261 979 per year, while most experienced workers make up to R 5 460 000 per year.
The average cfa salary in South Africa is R 6 300 000 per year or R 3 231 per hour. Entry-level positions start at R 1 242 117 per year, while most experienced workers make up to R 8 850 000 per year.
What is the highest paying accounting job in South Africa? ›- Chief Financial Officer: Average Annual Salary 780,000 ZAR Per Year.
- Chartered Accountant: Average Annual Salary 605,000 ZAR Per Year.
- Financial Advisor: Average Annual Salary 300,000 ZAR Per Year.
High demand: Accounting is a profession that is in high demand in South Africa, with many businesses and organizations requiring the services of qualified accountants to manage their financial affairs. Good earning potential: Accountants in South Africa are among the highest-paid professionals in the country.
How many years to become a Chartered Accountant in South Africa? ›Qualify as a Chartered Accountant (SA) Qualifying as a Chartered Accountant (SA) usually takes 7 years (3-year degree; 1-year honours and 3-years internship) provided you are able to complete the undergraduate qualification; postgraduate qualification and board exams in the minimum time.
Which company pays highest to chartered accountants? ›The highest paying company to CA professionals is ICICI BANK and PWC (PricewaterhouseCoopers). The working environment in companies which are exclusively involved in financial consultancies such as PWC, Ernst, and Young, Deloitte and KPMG is professional and competitive and attracts lot of application from CA.
How much does a CA with 10 years experience earn? ›A mid-career Senior Chartered Accountant with 4-9 years of experience earns an average salary of ₹10.9 Lakhs per year, while an experienced Senior Chartered Accountant with 10-20 years of experience earns an average salary of ₹27 Lakhs per year.
Why are Chartered Accountants leaving South Africa? ›Changes in the labour market
Taken into account the high cost to company associated with employing a qualified CA(SA), many companies are reconsidering creating or making positions available, which decreases the supply for qualified CA(SA) job positions.
You need about R15 000 – R20 000 per month to afford the basics. This also depends on your number of dependents, accommodation situation (living alone, sharing an apartment, and utilities) and lifestyle (gym membership, smoker, alcohol drinker etc).
What salary puts you in top 10% South Africa? ›
Data from the 2022 World Inequality report shows that South Africa remains one of the most unequal countries in the world. According to the report, while the bottom 50% of working adults earn roughly R12,300 a year, the top 10% earn more than 60 times that at around R780,300.
What is the top 1 salary in South Africa? ›The monthly salary you would need to be a top 1% earner, meanwhile, is around R151,451, the data shows. You would need a net wealth of around R4. 2 million to be considered a member of South Africa's top 1% when considering total wealth, with the average net wealth of the one-percenters being closer to R22. 6 million.
How much does a junior Chartered Accountant earn in South Africa? ›The average junior accountant salary in South Africa is R 240 000 per year or R 123 per hour. Entry-level positions start at R 180 000 per year, while most experienced workers make up to R 474 500 per year.
Who is the youngest chartered accountants in South Africa? ›North-West University alumnus Shaah Ahmed Ismail Bootha has proven that age is nothing but a number. The highly ambitious and pragmatic chartered accountant matriculated at the age of 15.
Is CA SA or ACCA better? ›The single most important difference between them is that a CA(SA) is a local qualification, whereas ACCA is an international qualification, or a global professional degree.