Accountants are very key professionals in any society. So far as money moves around, you need an accountant or two to tell you where all the money is going and advise you on where all the money should be going. Accountants perform financial calculations for companies in a wide variety of fields.
Some common duties include creating sales and cash flow reports, administering payroll, keeping balance sheets, carrying out billing activities, managing budgets and keeping inventory. The accountant may also be responsible for filing taxes for the company, as well as reviewing past reports to generate income forecasts.
It only makes sense that the people in charge of all that money be making a lot of money themselves. While accountants are not the highest paid professionals in the world, they earn a very good amount. And as an accountant in a good firm, and with a wealth of experience, money should not be a problem.
While you might not find yourself buying a Bugatti anytime soon, you will definitely live a very comfortable life. So the main question that made you tap this link in the first place; how much can you expect to earn as an accountant in South Africa? The answer to this question, as is with most other questions of this nature is that it depends on a range of factors.
From the firm or company you are working with, to your level of skill and expertise, and also to the amount of experience you have in the field, for example, while KPMG consulting will pay their accountants about 305,000 ZAR based on compiled responses from employees there, Standard Bank will pay their accountants about 527,000 ZAR.
However, the average salary for an accountant in South Africa is 283,000 ZAR, and can range from average minimums of 118,000 ZAR to average maximums of 490,000 ZAR. This is not to mean that there are not those who earn higher or lower than these amounts, it just means this is the average you’ll find.
To increase your chances as an accountant, it is important you are well versed in finances and accounting, and also the use of modern account keeping software such as Excel as they will be crucial to your career. As mentioned earlier, experience plays a key role in how much you earn as an accountant, and there is a clear link between years of experience and level of pay.
An entry-level Accountant with less than 1 year of experience can expect a salary of 192,412 ZAR, while an accountant with 1-4 years in the field should be expecting 236,234 ZAR.
An accountant with 5-9 years of experience under his or her belt should be able to take 296,229 ZAR home at the end of the year, while an experienced accountant with 10-19 years of experience can expect 355,567 ZAR. Old-timers in accounting will take home an average salary of 389,835.
So there you have it, a breakdown of what you need to earn well as an accountant, and what you have to look forward to in the profession.
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