Highest Paying Finance Jobs in South Africa

Finance is at the core of every established company and even a start-up. Without funding, income statements, and budget allocation, it is impossible to run a successful business. Businesses also need to be assessed for risk and projected cash inflow. To manage these tasks, an individual needs a degree in finance. In South Africa, finance is one of the highest-paying jobs. 

It is often is interlinked with economics and accounting and is present in all aspects of the private and public sectors. In simple terms, it is the management of money. However, it also includes managing assets, liabilities, debt, and investments. The specialised knowledge of a financial expert is also required when individuals or companies need to lend, borrow, or invest. 

Continue reading to learn more about the highest-paying finance jobs in South Africa, along with salaries and the key skills required to succeed. 

Factors That Influence Salaries in Finance 

Finance is a vast field that includes job profiles such as investment bankers and risk managers. The field of finance that a university graduate chooses can depend on the industry in which they want to work. Let us explore some factors that can influence salaries for some of the highest-paying finance jobs in South Africa. 

• Education and Qualifications: A quality education from an accredited institute is the first step towards a career in finance. Accreditation adds extra weight to your degree and informs prospective employers that your education meets specific standards.
• Experience Level: Salaries depend on experience, allowing individuals to better judge the risks involved and anticipate obstacles. Therefore, senior-level employees earn higher salaries. 
• Industry: Certain industries, such as banking and finance, pay higher salaries than others and offer bonuses and commissions. Other industries, such as healthcare, manufacturing, technology, etc., also advertise well-paying finance jobs.
• Location: While a finance job generally pays above-average salaries in South Africa, the amount varies depending on location. Major cities such as Johannesburg and Cape Town offer highly competitive packages.

Top 10 Highest-Paying Finance Jobs in South Africa

A degree in finance does not limit one to working in banks or financial institutions. Individuals can also work in this field while employed by retail or mining companies. Additionally, finance jobs are also available in the public sector. This goes to demonstrate how important finance is to running a business. 

A degree in finance combined with work experience can also pave the way for establishing your own business.

Let us look at the top 10 highest-paying finance jobs in South Africa.

1. Investment Banker

• Job Role: Investment bankers work in banks or financial institutions and help their clients raise capital. They also help complete mergers and acquisitions and raise IPO for start-ups. 
• Average Salary: R460,000
• Key Skills:
  •  Numbers
  •  financial modelling
  • excellent communicators
  •  expert knowledge of their industry.
• Industries: 
  • banks 
  • financial institutes

 2. Financial Manager

• Job Role: A financial manager creates annual reports, navigates financial instability, and advises senior management on long-term financial goals.
• Average Salary: R900,000
• Key Skills: 
  • Strong mathematics 
  • Analytical skills to evaluate data and find solutions
  • Tech-savvy to use accounting software
  • Communication skills
• Industries: 
  • Banking
  • Non-profits
  • Manufacturing
  • consumer goods. 

3. Chartered Accountant (CA)

• Job Role: A CA is a financial expert who helps businesses and individuals manage their taxation, auditing, and tax filings. In South Africa, CAs can also help lead companies as managing directors and CEOs.
• Average Salary: R600,000
• Key Skills: 
  • Proficient in using accounting software such as Tally, Quickbooks, and ZohoBooks
  • Knowledge of the tax structure in South Africa
  • Knowledge of the industry they are employed in
• Industries:
  • Mining
  • Accounting 
  • Manufacturing

4. Actuary

• Job Role: Actuaries use analytical skills and statistical data to estimate the financial risk and success of key business decisions. They also help project the cost of disasters and design insurance policies and solutions to minimise risk.
• Average Salary: R 750,000
• Key Skills:
  • Strong mathematical 
  • Strong analytical skills
  • Problem-solving skills
• Industries: 
  • Government
  • Healthcare
  • Finance
  • Insurance 

5. Risk Manager

• Job Role: Risk managers advise organisations and governments on identifying potential risks. They study possible risks concerning safety, profitability, and security. They also help develop processes and procedures to minimise risk and protect the firm. A risk manager’s role is one of the highest-paying jobs in banking and finance. 
• Average Salary: R700,000
• Key Skills: 
  • Analytical skills
  • Problem-solving skills 
  • Sound financial knowledge
  • Understand and implement new regulations
• Industries: 
  • Banking
  • Healthcare
  • Technology
  • Pharmaceutical
  • Public sector

6. Corporate Treasurer

• Job Role: A corporate treasurer manages company finances and is responsible for designing financial strategy, managing risk, maintaining financial relationships, and managing projects. They also plan investment activities and lead financial management.
• Average Salary: R544,800
• Key Skills:
  • Strong accounting background 
  • Cash and risk management proficiency
• Industries: 
  • Banks 
  • Financial institutions
  • Education
  • Healthcare
  • Non-profit
  • Retail

7. Financial Analyst

• Job Role: Financial analysts study financial data to help determine risks and investment opportunities. They help identify trends based on past data and mitigate risk. They also help guide companies on stock and bond issues to raise capital. A financial analyst is one of the highest-paying corporate jobs in finance. 
• Average Salary: R568,553
• Key Skills: 
  • Accounting 
  • Financial maths
  • Strong analytical skills
  • Proficiency in financial software
  • Leadership 
  • Communication
• Industries: 
  • Banking
  • Insurance
  • Hedge funds
  • Pension funds
  • Government

8. Portfolio Manager

• Job Role: A portfolio manager helps build and manage profitable investments for their clients, corporations or wealthy individuals. They manage risk and design portfolios to maximise investment profits. 
• Average Salary: R850,000
• Key Skills:
  • Strong analytical skills 
  • Risk management
  • Accounting
• Industries: 
  • Financial Services

9. Tax Manager

• Job Role: Tax managers help individuals and companies file taxes and provide consultation on tax-related matters. They also advise on new taxing procedures and ensure compliance with tax filings.
• Average Salary: R726,222 
• Key Skills: 
  • Tax Structure
  • Tax laws
  • Tax benefits
• Industries: 
  • Consulting
  • Financial Services

10. Private Equity Associate

• Job Role: Private equity associates are responsible for finding new investment opportunities that are not publicly traded. They buy stakes in private companies and help them raise funding to become profitable. They can also invest in public companies, aiming to de-list them from the stock exchange. 
• Average Salary: R1,000,000
• Key Skills: 
  • Financial modelling 
  • Data analysis 
  • Communication
  • Negotiation
• Industries: 
  • Banking
  • Private Equity firms

What are the Skills and Qualifications Required for High-Paying Finance Jobs?

If you understand numbers, then working in finance is a highly profitable career choice. However, candidates must be skilled in more than numbers to be hired for one of the highest-paying finance jobs. Finance jobs also require individuals to interact with clients, negotiate with external parties, and help devise strategies that turn profits.

Students should pursue an undergraduate degree in accounting, economics, or a business-related field to seek a job in finance. Companies look to hire professionals with industry experience and an advanced degree, such as an MBA or a master’s in finance or accounting, for senior roles.

In addition to a solid educational background, individuals must possess technical skills that will enable them to understand and work on accounting software and programs such as Excel. Finance professionals also possess critical soft skills that guarantee them one of the highest-paying finance jobs in a company. 

These are the top skills to have for a career in finance:

• Analytical: This helps finance professionals examine large amounts of quantitative and qualitative data and understand patterns. It also helps them analyse the situation and critically devise accurate solutions.
• Financial reporting and modelling: Individuals need a strong understanding of finance to interpret annual reports and financial data. This knowledge also helps them predict trends and risks. It enables them to create models and strategise how to minimise financial risk to the company.
• Communication: Individuals need strong communication skills to break down complex financial terms into easy-to-understand concepts and solutions.
• Negotiation: Careers like finance associate and investment banking involve negotiating with external parties to strike a profitable deal. It also comes in handy when convincing clients to take certain financial steps to reduce risk.
• Leadership: It is easy for clients to follow the decisions of strong leaders because they project confidence. 

Conclusion

A career in finance is one of the top routes for individuals looking for a high-paying job in South Africa. Finance professionals can choose to work in various industries since all companies require sound financial advice to lower risk and increase profits. Individuals should be proficient in handling and interpreting large amounts of financial data for a successful career in finance. They should also be strong communicators, negotiators, and leaders. 

Secondary school students interested in a career in finance can enrol for the Bachelor of Business Administration at the Regenesys Business School. 

Highest Paying Finance Jobs in South Africa – FAQs