Take a look at the highest paying jobs for SA’s major job sectors

A salary report has revealed the highest paying jobs for six of the major South African job sectors. Picture: Freepik

A salary report has revealed the highest paying jobs for six of the major South African job sectors. Picture: Freepik

Published Jul 23, 2024

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Taking into account the higher cost of living and depleting disposable income, job candidates are prioritising higher salary increases above all else when considering new job offers.

This is according to the 2024 South Africa Salary Guide, a report by Michael Page, a recruitment firm.

Factors like the SA economy narrowly averting a recession in 2023Q4 by increasing by 0.1% year-over-year to high interest rates, with the repo rate sitting at 8.25% and the prime lending rate at 11.75% after the South African Reserve Bank kept the interest rates unchanged, have an impact on people.

Michael Page Operating Director: South Africa, Paul Newman, said that amidst these economic dynamics, the market is increasingly need of seasoned professionals with strong technical skills particularly in the technology and renewable energy sectors.

According to Newman, the first quarter of 2024 has seen a slow start to the year from a hiring point of view, however, it is anticipated that there will be an uptake in recruitment demand in the second half of the year.

Salaries and in-demand jobs in SA

The salaries report revealed the salaries and most in-demand jobs for the procurement; supply chain; engineering and manufacturing; finance and accounting; sales and marketing; banking and finance; and technology jobs sectors.

Procurement and Supply Chain
Procurement
From AverageTo
VP of Procurement R1.8 millionR2. millionR2.8 million
Supply Chain
FromAverageTo
VP of Supply ChainR2.4 millionR3.1 millionR3.8 million

In the Procurement and Supply Chain sector these are the jobs that are in demand: supply chain planning, demand planner, procurement manager, logistics manager and plant supervisors.

Engineering and Manufacturing

Engineering and Manufacturing
FromAverage To
Manufacturing DirectorR1.6 millionR1.9 millionR1.7 million

The report showed that the following positions are in demand for the Engineering and Manufacturing sector: head of engineering; project director; health, safety and environment manager; quality assurance/quality control manager; and product supervisor.

Finance and Accounting

Finance and Accounting
Senior Finance
FromAverage To
Group/Regional CFOR3 millionR4 millionR5 million
Controlling Roles
From Average To
Credit ManagerR900,000R1 millionR1.2 million
Audit
FromAverageTo
Chief Audit OfficerR1.6 millionR2 million R2.4 million
Other
FromAverageTo
Head of TreasuryR1 millionR1.2 millionR1.4 million
Tax
FromAverageTo
Tax DirectorR1.6 millionR1.9 millionR2.2 million

In the Finance and Accounting sector there are are five jobs in demand including commercial finance manager/controller, finance business partner, finance manager, regional/Africa experience and head of finance.

Sales and Marketing

Sales and Marketing
Sales (Sales and Marketing B2C)
FromAverage To
General ManagerR2.3 millionR2.5 millionR3.2 million
Marketing (Sales and Marketing B2C)
From AverageTo
Chief Marketing OfficerR2.3 million R2.6 millionR3.2 million
Trade Marketing (Sales and Marketing B2C)
FromAverage To
Head of TradingR1.3 millionR1.5 millionR1.7 million
Sales (Sales and Marketing B2B)
FromAverageTo
General ManagerR2.5 millionR3 millionR2.4 million

For the Sales and Marketing sector these are in-demand jobs: business development manager, enterprise sales manager, marketing manager, technical sales manager, digital marketing manager, brand manager, key account manager – national, retail operations manager and head of marketing.

Technology

Technology
Executive/Leadership
From Average To
Chief Information OfficerR1.8 millionR2 millionR.3.5 million
IT Security
From AverageTo
IT Security ManagerR1.5 millionR1.8 millionR2 million
Applications
FromAverageTo
IT Applications ManagerR1 millionR1.3 millionR1.6 million
Business Analysis & Project Management
FromAverage To
Head of PMOR1.2 millionR1.5 millionR2 million
Architecture
From AverageTo
Chief Enterprise ArchitectR1.5 millionR1.7 millionR2 million
Software Development
FromAverageTo
Head of Software DevelopmentR1.1 millionR1.3 millionR2 million
Networking
FromAverageTo
Network ArchitectR700,000R900,000R1.5 million
Data/Data Administrator
FromAverageTo
Data ArchitectR650,000R1.5 millionR18 million
Technical Services
FromAverage To
Head of PMOR1.2 millionR1.5 millionR2 million

In the Technology sector there are six jobs that are in demand, including software developer, cyber security, cloud computing, data scientist, business analyst, and artificial intelligence and machine learning

Banking

Banking
Wholesale Banking
FromAverageTo
Head of Wholesale Banking (EVP)R2 millionR2.5 millionR3 million
Retail banking
From Average To
Head of Consumer Banking (EVP) R1.5 millionR1.7 millionR2 million
Investment Banking - M&A/DCM/ECM/LEV FIN
FromAverageTo
Managing DirectorR3 millionR3,.5 millionR4 million
Private Equity/Investments
FromAverage To
Managing DirectorR3 millionR3.5 millionR4 million
Insurance
FromAverageTo
Managing DirectorR2 millionR2.5 millionR million
Compliance
From Average To
Chief Compliance OfficerR2 millionR2.5 millionR3 million
Risk
FromAverageTo
Chief Risk OfficerR2 millionR2.5 millionR3 million
Operations (Investments/Funds)
FromAverageTo
COOR2 millionR2.5 millionR3 million

According to the report, jobs that are in-demand for the Banking and Finance sector including: internal audit manager; senior trader; senior relationship manager; business development manager: insurance; head of operations: Cib; corporate finance: M&A; and risk management

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