Accountant's average salary in South Africa per month

Accountant's average salary in South Africa per month

Accounting is one of the most in-demand careers in South Africa. Companies hire professionals or outsource the services of external accountancy firms to ensure their finances are in order. Individuals also need the services to manage their personal finances and taxes. How much is the accountant's average salary in the country?

An individual looking at financial statements
Companies across South African hire qualified accountants to handle their finances. Photo: Nico ElNino
Source: UGC

The accounting profession has many exciting opportunities for qualified individuals depending on the body you register with. SAICA deals with SA chartered accountants, SAIPA is for professional accountants, ACCA is a global body for chartered accountants, CIMA is for management accountants, and SAIBA offers several accounting qualifications in the country.

How much is an accountant paid in South Africa?

The accountant's average salary per month is estimated to be R23,500 (282,000 per year), according to Salary Explorer. The lowest-earning professional earns around R11,500, while the highest-paid goes home with approximately R36,600 monthly.

A chartered accountant (SA) earns a slightly higher average of R28,500 monthly (R342,000 annually). The professionals make around R14,800 at the lowest level and about R43,600 per month at a higher level.

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How much does a BCom accountant earn in SA?

How much do bachelor in accounting jobs pay in South Africa? A BCom accounting graduate earns around R11,000 per month at the entry level, according to Talent.com. The median salary is approximately R14,000, while more experienced graduates take home about R25,000 monthly.

An individual doing financial statement reconciliation
Accountants in South Africa can pursue various qualifications, including auditing, management accounting, and taxation. Photo: Krisanapong Detraphiphat
Source: Getty Images

What is the highest-paying accounting job in South Africa?

As a qualified accountant in South Africa, you have various career opportunities, including being an auditor, staff accountant, forensic accountant, tax accountant, management accountant, and finance manager. The amount earned varies with employer, years of experience, level of education, location, and type of accounting profession.

Chief Financial Officers are generally the highest-paid professionals in companies across South Africa. The CFO's average salary is around R67,600 per month, with the lowest earning around R35,000 and the highest earning getting approximately R103,000 monthly. The salary scale for the professionals is as follows;

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Profession/QualificationSalary scale (annually)
Finance director of a large farmR1.7 million to R3 million
Chief Financial Officer (JSE Top 200): R2 million to R3.2 million
CFO/FD (SME)R1.4 million to R2 million
Senior Finance OfficerR1 million to R1.5 million
Finance ManagerOver R750,000
Audit ManagerR750,000 to R1 million
Qualified CIMA (3 to 5 years experience)R700,000 to R1 million
Part-qualified CA(SA) with BCom (over 4 years experience)R350,000 to R600,000
Tax AccountantR600,000 to R750,000
Treasury AccountantR600,000 to R800,000
Accountant with Honours Degree (2 to 5 years experience)R450,000 to R600,000
CIMA Qualified Management Accountant (3 to 4 years experience)R700,000 to R800,000
BCom Graduate (entry-level)R200,000 to R350,000

Who are the largest employers for accountants in South Africa?

All organizations across the country are in need of qualified chartered or professional accountants to handle their finances. The Big Four accountancy firms, including KPMG, PwC, Deloitte, and Ernest & Young, are the biggest employers of accountants in South Africa. The two top government offices for skilled professionals are the Office of SA Revenue Services and the Auditor General's Office.

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An accountant's salary in South Africa is reasonable compared to other career averages. Like all other professions, the amount paid increases as you progress up the career ladder.

DISCLAIMER: This article is intended for general informational purposes only and does not address individual circumstances. It is not a substitute for professional advice or help and should not be relied on to make decisions of any kind. Any action you take upon the information presented in this article is strictly at your own risk and responsibility.

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Alice Wabwile (Lifestyle writer) Alice Wabwile is a multifaceted content creator and Project Assistant at AfDAN, boasting over four years of experience. Holding a BCom degree from the University of Nairobi School of Business, she has cultivated a dynamic skill set through roles such as her tenure at Strathmore University's Data Science Department, where she contributed significantly to research. Recognized for her exceptional talent, she clinched the Writer of the Year Award. Beyond her professional endeavours, Alice is an engaged member of the Rotaract Club of Kabete. For inquiries, reach out to her at alicenjoro01@gmail.com

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