SOUTH AFRICA
It was a relatively good year for recruitment in South
Africa.
Market conditions improved compared to 2013, although
the country continued to face a number of key challenges.
During 2014, South Africa was displaced by Nigeria as
Africa’s largest economy, and the Rand dropped to a fiveyear low against the US dollar. The run-up to the general
election also led to some uncertainty among the business
community, while strikes in mining and engineering caused
disruption and impacted the construction and engineering
sectors.
SOUTH AFRICA
COUNTRY OVERVIEW
A
lthough the jobs
market was
relatively buoyant,
the recruitment
process became more
protracted in 2014.
Many organisations
exhausted their
own recruitment resources before enlisting
external specialist help, while lengthy sign-off
procedures and bureaucracy slowed things
further. Job seekers also appeared wary
of moving without reassurances, seeking
guarantees of increased salaries, bonuses and
development opportunities before accepting
new offers.
A continued focus amongst companies on
improving IT and support infrastructure meant
there was strong demand for IT professionals
and increased hiring activity in this area. We
also saw some candidate movement into
pharmaceutical and FMCG multinationals.
Mining fell sharply early in the year, but as the
strikes subsided, hiring began to pick up once
again, albeit slowly, with particular demand
for finance professionals among some of the
bigger mining companies.
Experience was a common theme throughout
the year, with well-qualified candidates
needed to fill legal, finance and engineering
roles. Specifically, companies were looking
for internationally minded professionals who
could add real business value. Those who
could integrate seamlessly into an organisation
were also in demand as companies looked to
minimise the downtime often witnessed during
the onboarding of more junior staff.
However, candidates with post-qualified
experience, including lawyers, accountants
and engineers proved hard to find in the
South African market, and we anticipate they
will continue to be scarce in 2015. Indeed,
professionals with 2-5 years’ experience,
and the more senior professionals with 7-10
years’ experience, will continue to elude hiring
managers in the year ahead. In order to secure
their ideal candidates, hiring managers are
advised to design their recruitment process to
be as smooth and efficient as possible. Clearly
defined careers paths and opportunities will
also bring peace of mind to those employees
seeking both reassurance and variety. The
10-15% salary increases for job movers seen
in 2014 will need to be met this year too, if not
exceeded, in order to entice the best talent
into new roles.
Looking ahead we expect market
conditions in South Africa to improve and
recruitment activity to increase further.
However, companies will continue to face
certain challenges, mainly Black Economic
Empowerment (BEE) which places certain
restrictions on which candidates companies
can target.
“
10-15% salary increases
for job movers will need
to be met this year, if not
exceeded, in order to
entice people into new
roles.
SOUTH AFRICA
ACCOUNTING & FINANCE
Improved business confidence and a desire
to expand across Africa during 2014 created
an increase in accountancy vacancies within
commerce and industry. There was demand
for experienced industry professionals at all
levels as companies sought to hire candidates
who could make an immediate impact on
their business.
The ongoing market uncertainty in sectors
like mining, steel and telecoms forced hiring
managers to look for professionals with
commercial, analysis and planning skills as
businesses continued to drive and measure
their performance closely and manage their
costs more effectively.
With increased investment opportunities
across Africa, companies will require
accounting and finance professionals who
have regional or local experience. Language
skills, like French and Portuguese, will be
highly desirable as well as a willingness to
travel to sub-Saharan Africa. Employment
Equity professionals with sound industry
knowledge will also be highly sought-after
in 2015. Businesses are looking to hire
specialists with at least three to five years’
experience.
Salaries in 2014 did increase but only
between 2-7%. However, we saw
organisations offer up to 10% increments
for Employment Equity professionals, as
well as other candidates in high demand.
These included accounting and finance
professionals with industry experience - this
trend is expected to continue in 2015. To
secure these in-demand candidates, hiring
managers will need streamlined recruitment
processes, creating a positive impression
from the start of the process.
Overall, hiring activity is expected to increase
in 2015 as multinationals look to grow into
Africa, especially sub-Saharan Africa.
KEY TRENDS
Salaries increased in 2014 between 2-7%, although in-demand
professionals could command a 10% increase.
Financial analysts and commercial and financial managers with at least two
to three years’ experience were highly sought-after in 2014.
Due to changes in Black Economic Empowerment regulations, there is a
need for businesses to hire candidates across all levels of seniority.
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Robert Walters Global Salary Survey 2015
“
Soaring investment
levels across Africa
mean that in 2015,
companies will look
for accounting and
finance
professionals with
regional experience.
SOUTH AFRICA
ACCOUNTING & FINANCE
ROLE
PERMANENT SALARY PER ANNUM ZAR (R)
2014
2015
Chief Financial Officer (JSE Top 200)
1.5 - 2.5m
1.8 - 3m
Finance Director (Large Firm)
1.1 - 1.9m
1.3 - 2m
CFO/FD (SME)
1 - 1.4m
1.1 - 1.5m
Senior Finance Manager
850k - 1.1m
950k - 1.2m
Finance Manager
650 - 850k
750 - 900k
Senior Finance Analyst
700 - 900k
750k - 1m
Finance Analyst
500 - 650k
550 - 700k
Group Accountant
400 - 600k
450 - 650k
Newly-qualified CA (SA)
550 - 600k
500 - 575k
Audit Manager
600 - 900k
650 - 950k
Internal Auditor
300 - 500k
330 - 550k
Qualified CIMA (3-5 yrs' exp)
600 - 900k
650 - 950k
Qualified CIMA (1-3 yrs' exp)
450 - 600k
450 - 600k
Senior Finance Manager
750k - 1m
800k - 1.1m
Finance Manager
500 - 700k
550 - 750k
Senior Finance Analyst
600 - 800k
700 - 900k
Finance Analyst
400 - 600k
500 - 700k
Articles (3-5 yrs' exp)
400 - 600k
440 - 650k
Articles (1-3 yrs' exp)
300 - 450k
330 - 500k
Bcom (3-5 yrs' exp)
200 - 300k
220 - 350k
Bcom (1-3 yrs' exp)
140 - 200k
150 - 220k
Group Tax Manager
900k - 1.25m
900k - 1.25m
Tax Manager
500 - 750k
550 - 800k
Tax Accountant
300 - 500k
330 - 550k
Group Treasury Manager
600 - 900k
650k - 1m
Treasury Accountant
200 - 400k
220 - 450k
Qualified CA (SA) or CIMA
Part-qualified CA (SA) or CIMA
Taxation/Treasury
NB: These figures are cost to company excluding bonuses.
Robert Walters Global Salary Survey 2015
490
SOUTH AFRICA
BANKING & FINANCIAL SERVICES
The financial services recruitment market grew
during 2014 - driven mainly by international
organisations with a presence in South Africa
expanding into Sub-Saharan Africa. A number
of investment banks looked to grow their
footprint in Africa, which resulted in increased
headcount and demand for specialist banking
and financial professionals with specific
product, sector and skills.
Hiring managers looked for candidates with
local experience, as well as focusing on
those with specialist market knowledge.
This included seasoned professionals who
could make an immediate impact, such as
chartered accountants with extra skills like
chartered financial analyst (CFA), certified
financial planning (CFP), Johannesburg Stock
Exchange (JSE) settlements and compliance
officer qualifications. Employers were also
seeking experienced professionals able to
make an immediate impact on the business.
As more banks look to expand into Sub-
Saharan Africa, we believe banking and
finance professionals with international
experience will continue to be highly soughtafter in 2015.
We expect to see a shortage of risk
professionals with specialist industry or
product-orientated skills in 2015. Risk
specialists will continue to be a key hire as
firms look for staff that can implement policies
related to newly-enacted regulations, like antimoney-laundering and Basel III.
Employers are advised to offer competitive
packages, retention plans and clear
Across the sector, average salary increases for non-movers was between
4-8% and 13-18% for job-movers.
Chartered accountants with extra skills and qualifications like CFA and CFP
will be in high demand.
Companies are looking to hire experienced employees with local
knowledge who can make an immediate impact and ‘hit the ground
running'.
With a limited talent pool risk, actuaries and compliance professionals will
be in high demand.
Robert Walters Global Salary Survey 2015
Across the banking and finance sector, the
average salary increase for non-movers was
between 4-8% and 13-18% for job-movers
- we expect this to continue in 2015. Market
conditions and recruitment will be very much
linked to global conditions - an increase in
growth should result in increased hiring levels.
To successfully hire in-demand skill sets,
companies should consider streamlining the
recruitment process and identify areas of
business where they feel Black Economic
Empowerment targets are achievable.
Competition for top performers will be high
and Employment Equity candidates will
continue to be especially hard to source.
KEY TRENDS
491
career paths to ensure their top talent remains
in the business.
“
A number of
investment banks
expanded into
Africa, resulting in
an increased demand
for specialist
banking and
financial
professionals.
SOUTH AFRICA
BANKING & FINANCIAL SERVICES
ROLE
PERMANENT SALARY PER ANNUM ZAR (R)
2014
2015
Corporate Finance CA (3 - 5 yrs’ exp)
750k - 1.1m
750k - 1.1m
Corporate Finance CA (1 - 3 yrs’ exp)
550 - 750k
575 - 775k
Operations Manager
500k+
600k+
Product Controller (CA/CIMA + 2 - 5 yrs' exp)
625 - 875k
650 - 900k
Product Controller (2 - 5 yrs’ part-qualified)
450 - 650k
400 - 650k
Senior Strategy Analyst Engineer + CFA/MBA (5+ yrs' exp)
800k+
900k
Strategy Analyst Engineer + CFA/MBA
450 - 800k
45 0 - 800k
Private Banking Executive (3+ yrs' exp)
350 - 475k
300 - 450k
Qualified CA (3 - 5 yrs’ exp)
700 - 925k
650 - 950k
Qualified CA (1 - 3 yrs’ exp)
550 - 700k
550 - 650k
Recently-Qualified CA
500 - 600k
500 - 615k
Management Accountant CIMA + Training (3 - 4 yrs’ exp)
400 - 600k
500 - 600k
Accountant - Hons Degree + Articles
350 - 450k
350 - 450k
Business Unit CFO - Investment Banking
1.2m+
1.3m+
Business Unit CFO - Financial Services/Private Banking
800k+
1m+
Research Analyst CA (3 - 5 yrs’ research + CFA exp)
700k - 1.2m
750k - 1.1m
Research Analyst CA (1 - 3 yrs’ research + CFA exp)
525 - 750k
500 - 750k
Global Markets (8+ yrs' exp)
1.2m+
1.1 - 1.5m
Investment & Wealth Management (8+ yrs' exp)
900k+
900k
AML/Surveillance/Control Room (8+ yrs' exp)
900k+
800k
Global Markets (5 - 8+ yrs' exp)
600k - 1.2m
900k - 1.1k
Investment & Wealth Management (5 - 8 yrs' exp)
500 - 900k
600 - 900k
AML/Surveillance/Control Room (5 - 8+ yrs' exp)
500 - 900k
500 - 800k
Global Markets (1 - 4 yrs' exp)
400 - 600k
400 - 800k
Investment & Wealth Management (1 - 4 yrs' exp)
300 - 500k
350 - 750k
AML/Surveillance/Control Room (1 - 4 yrs' exp)
250 - 500k
300 - 500k
Investment Banking & Financial Services
Accountancy/Audit/Tax/Treasury
Senior Finance
Compliance
NB: These figures are cost to company excluding bonuses.
Robert Walters Global Salary Survey 2015
492
SOUTH AFRICA
ENGINEERING & NATURAL RESOURCES
South Africa enjoyed a notable improvement
in the recruitment market across engineering
and natural resources in 2014 - despite a
lack of key talent and a series of economic
challenges in the region.
The ongoing mining and engineering strikes
impacted hiring levels and although some
companies experienced difficulties, their plans
to expand into Africa were largely unaffected.
The demand for specialist skills in the region
as a whole continued to develop, with
technical engineers and sales professionals
across manufacturing, oil and gas, power and
construction in shortest supply.
Facilitating growth, along with continued
ROLE
streamlining of costs, will be key to business
success in 2015. Employers will look to take
on graduates such as process engineers and
mechanical engineers to assist with business
expansion projects. Senior professionals with
strong industry experience will also be highly
sought-after.
We expect hiring managers will however
struggle to recruit senior staff with top level
experience, especially electrical engineers
and project managers. This will be particularly
true for oil and gas, renewable energy and
construction.
we anticipate companies will remain
budget conscious in 2015. Therefore, hiring
managers should expect to pay conservative
increases of around 5-15%.
“
As companies expand
into Africa the
demand for technical
skills will
continue.
Salaries increased across the board in 2014.
Despite the increases in line with inflation,
PERMANENT SALARY PER ANNUM ZAR (R)
2014
2015
General Manager
900k - 1.5m
1.0 - 1.7m
Engineering Manager
850k - 1.4m
900k - 1.6m
Project Manager
750k - 1.3m
850k - 1.5m
Structural Engineer
800k - 1.2m
900k - 1.3m
Mine Planning Engineer
700 - 900k
800k - 1.1m
Mechanical Engineer
650 - 950k
700k - 1.1m
Sales/Business Development Manager
620 - 900k
650 - 950k
Construction Manager
580 - 880k
600 - 950k
Process Engineer
520 - 800k
550 - 850k
Estimator/Cost Engineer
500 - 720k
550 - 750k
SHEQ Manager
600 - 750k
650 - 850k
Supply Chain Manager
650 - 850k
700 - 900k
Civil Engineer (BSc)
450 - 650k
500 - 700k
Electrical/Controls Engineer
480 - 680k
500 - 720k
500 - 700k
500 - 750k
Production Manager
NB: These figures are cost to company excluding bonuses, based on a professional with 5 - 8 years' experience and can vary depending on industry sector.
493
Robert Walters Global Salary Survey 2015
SOUTH AFRICA
HUMAN RESOURCES
HR vacancies increased steadily during 2014
as firms continued to improve processes
and implement change. Many organisations
restructured which kept HR departments
especially busy. The most sought-after roles
included HR business partners, administration
consultants and specialists.
Performance management specialists and
organisational effectiveness consultants,
were in demand during the second half of
the year - businesses were looking for true
business partners to work alongside senior
management, helping to improve profit or cut
costs.
ROLE
Companies also favoured experienced
HR professionals who could demonstrate
commitment and make an immediate
contribution to strategic goals. Industry
experience and knowledge were therefore
highly sought-after, as were strong
qualifications, including Honours and Masters
degrees.
We also expect specialist roles like
organisational development, organisational
effectiveness and talent management to
continue to be in demand as businesses
focus on developing and retaining top-quality
professionals for the long-term (particularly
Employment Equity candidates).
We therefore expect a shortfall of experienced
HR professionals who have relevant industry
knowledge in 2015. The HR market is
incredibly competitive and organisations
will need to develop quick and efficient
recruitment processes to attract the best
talent. They may also need to be flexible with
search criteria to find suitable applicants.
PERMANENT SALARY PER ANNUM ZAR (R)
2014
2015
Industrial/Employee Relations Manager
400 - 700k
450 - 750k
Remuneration & Benefits Consultant
400 - 700k
450 - 750k
Organisational Development Manager
600 - 900k
660k - 1.0m
Change Manager
550 - 750k
600 - 820k
Learning & Development Manager
550 - 800k
600 - 900k
Recruitment Manager
550 - 750k
600 - 820k
Recruitment Officer
180 - 300k
200 - 330k
BEE Advisor
350 - 650k
400 - 720k
Talent Manager
550 - 900k
600k - 1.0m
Payroll Manager
600 - 900k
650k - 1.0m
HR Director
900k - 1.3m
1.0 - 1.4m
HR Manager
550 - 850k
600 - 950k
HR Business Partner
400 - 700k
450 - 800k
HR Consultant
320 - 500k
350 - 600k
HR Officer/Co-ordinator
180 - 300k
200 - 350k
HR Specialist
HR Generalist
NB: These figures are cost to company excluding bonuses.
Robert Walters Global Salary Survey 2015
494
SOUTH AFRICA
LEGAL
There was renewed confidence in South
Africa’s recruitment market during 2014 which
led to increased demand for legal candidates.
Hiring activity was strongest in legal firms
looking to consolidate their presence in Africa,
as well as companies hiring for growth.
Demand in legal firms centered on key
areas including competition, employment,
engineering and construction, property
and real estate, as well as mergers and
acquisitions. An increase in controls
and regulation also fuelled the need for
compliance and regulatory professionals.
A driving force in legal recruitment during
2014 was international law firms basing their
regional head offices in South Africa - as
they aimed to gain a foothold in sub-Saharan
Africa. As a result, we found that experienced
legal advisors and counsel have become
increasingly hard to attract, requiring law
firms to offer more competitive packages to
compensate for the supply shortfall.
This trend looks set to continue in 2015
at all levels of legal recruitment. The most
sought-after candidates will be those with
industry-specific experience, helping to
reduce the time it takes to start contributing to
a business, as well as saving costs in the long
run.
We believe Employment Equity professionals
in particular will be highly sought-after in
2015. Consequently, organisations will need
to act fast and pay a premium to secure the
best candidates. Hiring managers may also
have to become more open-minded about
finding the ‘perfect fit’ candidate - employers
are advised to consider people from different
industries or with less experience to widen
their choice.
Salary levels remained stable in 2014 and we
expect this to increase in line with inflation
during 2015. We also anticipate salaries
will be higher for the more sought-after
candidates, like Employment Equity
KEY TRENDS
Recruitment activity was strongest in South African-based legal firms
looking to expand their presence into Africa.
Experienced job-movers can expect pay rises of between 10-15% in 2015.
Market conditions will remain stable with a continued demand for core legal
professionals like legal advisors, counsel and head of legal.
Employment Equity candidates will remain in demand and firms will need to
be prepared to pay a premium to secure top talent.
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Robert Walters Global Salary Survey 2015
professionals with specialised skill sets.
Companies are advised to ensure their
salaries and packages are in line with the
market to remain competitive and to attract
and retain the best staff.
“
More international
law firms based
their regional head
offices in South
Africa during 2014,
driving demand for
legal specialists.
SOUTH AFRICA
LEGAL
ROLE
PERMANENT SALARY PER ANNUM ZAR (R)
2014
2015
10+ yrs' PQE
1.1m+
1.3m+
6 - 10 yrs' PQE
800k - 1.1m
900k - 1.3m
3 - 6 yrs' PQE
570 - 800k
650 - 900k
1 - 3 yrs' PQE
350 - 570k
420 - 650k
10+ yrs' PQE
1.2m+
1.35m+
6 - 10 yrs' PQE
850k - 1.2m
920k - 1.35m
3 - 6 yrs' PQE
600 - 850k
660 - 920k
1 - 3 yrs' PQE
400 - 600k
450 - 660k
Equity Partner (10+ yrs' PQE)
1.25m+
1.4m+
Partner (6 - 10 yrs' PQE)
900k - 1.2m
1.0 - 1.4m
Senior Associate (3 - 6 yrs' PQE)
550 - 900k
620k - 1.0m
Associate (1 - 3 yrs' PQE)
350 - 550k
400 - 620k
Legal In-house - Commerce & Industry
Legal In-house - Financial Services
Legal Private Practice
NB: These figures are cost to company excluding bonuses.
Robert Walters Global Salary Survey 2015
496