Specialist recruitment firm, Michael Page, published its latest salary guide for 2020, showing what recruiters are seeing on offer in terms of salaries for top professionals in the country.
The survey shows what skilled professionals in 185 different jobs in South Africa can expect to earn in 2020 across a wide variety of sectors.
The group said it has seen a decline in demand across most industries within South Africa, with certain industries feeling the impact more than others.
“Companies are looking for ways to increase output and productivity, while at the same time cutting costs,” the group said.
The country is also facing a brain drain of highly skilled labour who are opting to emigrate, the group noted, saying that this is creating a talent gap in the market, further contributing to the challenges of investing in the economy.
Because skills, especially professional skills, are in high demand because of this gap in the market, some sectors are willing to pay very high salaries to find the right people.
The group’s data for its salary benchmark is derived from the group’s proprietary database, capturing job advertisements and placements throughout 2019.
It is also supplemented with data and insights from other studies such as quarterly job market surveys, and insights from interactions with clients and candidates.
The top earners – according to Michael Page’s data – are Group/Regional CFOs at finance companies who can expect to earn up to R5 million a year, with the average salary at R4 million a year.
By comparison, finance directors in these companies can expect to earn up to R3.5 million a year, averaging R3 million.
The legal profession is also a stand-out with partners at international firms earning up to R5 million a year, while partners at top South African law firms can earn upwards of R4 million a year, and partners at boutique firms can pull up to R3 million.
In-house general counsel positions can also earn up to R3 million a year, while those working as head of compliance can earn up to R2.4 million a year.
Other top-paying positions can be found working in supply chain, where a VP can earn as much as R3.8 million a year, as well as in human resources, where top salaries go as high as R3.2 million.
It is important to note that while salary data is very comprehensive, it is primarily focused on professionals.
This means that certain sectors such as airline pilots, engineers, medical personnel and government officials do not feature in the report.
|#||Job name||Sector||Annual salary (R ‘000)|
|1||Group/Regional CFO||Finance & Accounting||R5 000|
|2||Partner (International Law Firm)||Legal||R5 000|
|3||Partner (Top SA law firm)||Legal||R4 000|
|4||VP of Supply Chain||Supply Chain & Logistics||R3 800|
|5||Finance Director||Finance & Accounting||R3 500|
|6||VP HR / Chief HR Officer||Human Resources||R3 200|
|7||In-house GC (General Counsel)||Legal||R3 000|
|8||Partner (Boutique law firm)||Legal||R3 000|
|9||Supply Chain/Logistics Director||Supply Chain & Logistics||R2 800|
|10||VP of Procurement||Procurement||R2 800|
|11||General Manager (B2B)||Sales & Marketing||R2 800|
|12||General Manager (Sales and Marketing)||Sales & Marketing||R2 600|
|13||VP of Sales||Sales & Marketing||R2 600|
|14||Chief Marketing Officer||Sales & Marketing||R2 600|
|15||Chief Audit Officer||Finance & Accounting||R2 400|
|16||Head of Compliance||Legal||R2 400|
|17||HR Director||Human Resources||R2 400|
|18||Manufacturing Director||Engineering & Manufacturing||R2 300|
|19||Tax Director||Finance & Accounting||R2 200|
|20||Head of HR||Human Resources||R2 200|
|21||Procurement Director||Procurement||R2 200|
|22||Marketing Director||Sales & Marketing||R2 200|
|23||Country Manager||Sales & Marketing||R2 200|
|24||Group Company Secretary||Legal||R2 100|
|25||Chief Information Officer||Information Technology||R2 000|
|26||IT Director||Information Technology||R2 000|
|27||IT Security Manager||Information Technology||R2 000|
|28||Chief Enterprise Architect||Information Technology||R2 000|
|29||Project Director||Engineering & Manufacturing||R2 000|
|30||Head of Sales / Sales Director (Consumer)||Sales & Marketing||R2 000|