From Business Insider.
- There are at least 17 paying jobs in South Africa that earn more than R2m a year, according to recruitment agency Michael Page.
- Michael Page found that CFO’s, financial directors and chief human resource officers are among the highest paid in South Africa.
- The recruitment agency said local salaries are under pressure as companies seek to automate and cut costs.
Chief financial officers (CFO), financial directors and chief human resource (HR) officers are among the highest paying careers in South Africa, a new report found.
Specialist recruitment agency Michael Page’s Salary & Skills Guide for 180 jobs in 2020, found that the average South African CFO salary is R4 million a year for a multinational company, and R2.5 million at a small to medium-sized enterprise (SME).
A financial director at a multinational company in South Africa can expect to earn R4 million a year, and a chief HR officer R2.9 million.
Business Insider ranked the 17 highest paying careers in South Africa in the Michael Page report according to the average salary an individual can expect to earn. They are:
- Group / Regional CFO (multinational corporation) R4 million
- International law firm partner R3.25 million
- Vice president of supply chain (multinational corporation) R3.1 million
- Finance Director (multinational corporation) R3 million
- Vice president of HR / Chief HR officer (multinational corporation) R2.9 million
- Top South African law firm partner R2.75 million
- Group / Regional CFO (SME) R2.5 million
- Vice president of procurement (multinational corporation) R2.3 million
- Supply Chain / Logistics Director (multinational corporation) R2.275 million
- In-house general counsel R2.25 million
- Sales general manager (multinational corporation) R2.2 million
- Chief Marketing Officer (multinational corporation) R2.2 million
- Sales general manager (SME) R2 million
- Boutique law firm partner R2 million
- Head of compliance R2 million
- Chief audit officer (multinational corporation) R2 million
- Chief marketing officer (SME) R2 million
Michael Page’s salary benchmark was compiled by capturing job advertisements and placements throughout 2019.
The data was validated against insights from its consultants’ interaction with clients and candidates.
Associate Director for the PageGroup South Africa, Paul Newman, said as policy uncertainty continues in South Africa, local companies are looking for ways to increase output and productivity, while at the same time cutting costs.
Therefore, automation, robotics, artificial intelligence, digital and in broader terms, technology is playing a bigger role in achieving the goals, Newman said.
“South Africa is also facing a brain drain of highly skilled labour who are opting to emigrate; this is creating a talent gap in the market, further contributing to the challenges of investing in the economy.”