Michael Page 2020 Salary Guide: CFOs in finance companies are top earners

The guide shows that, at R5 million a year, CFOs are earning more than most SA professionals.

Michael Page has published its latest Salary Guide for 2020, showing what the top professionals in South Africa can expect to earn in 2020 across a wide variety of sectors. 

According to the data, group or regional CFOs at finance companies are top earners, earning up to R5 million a year. 

In a statement, the recruitment specialist said that 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 report also pointed out how highly skilled labourers are opting to emigrate, saying that it is creating a talent shortage. Skills are in high demand because of this gap in the market, meaning some sectors are willing to pay very high salaries to find the right people. 

According to the data, the top 30 highest paying jobs in South Africa are:

  1. Group/regional CFO in the finance and accounting sector, who earn up to R5 million a year. 
  2. Partners in international law firms, who earn up to R5 million a year.
  3. Partners in South African law firms, who earn up to R4 million a year.
  4. Vice presidents of supply chain in the supply chain and logistics sector, who earn up to R3.8 million a year.
  5. Finance directors in the finance and accounting sector, who earn up to R3.5 million a year. 
  6. Vice presidents of HR and chief HR officers in the human resources sector, who earn up to R3.2 million a year. 
  7. In-house general counsel in the legal sector, who earn up to R3 million a year. 
  8. Partners in boutique law firms, who earn up to R3 million a year. 
  9. Supply chain and logistics directors in the supply chain and logistics sectors, who earn up to R2.8 million a year.
  10. Vice presidents of procurement in the procurement industry, who earn up to R2.8 million a year.
  11. General managers in the sales and marketing sector, who earn up to R2.8 million a year.
  12. General managers of sales and marketing in the sales and marketing sector, who earn R2.6 million a year. 
  13. Vice presidents of sales in the sales and marketing sector, who earn up to R2.6 million a year.
  14. Chief marketing officers in the sales and marketing sectors, who earn up to R2.6 million a year. 
  15. Chief audit officers in the finance and accounting sector, who earn up to R2.4 million a year. 
  16. Head of compliance in the legal sector, who earn up to R2.4 million a year. 
  17. HR directors in the human resources sector, who earn up to R2.4 million a year. 
  18. Manufacturing director in the engineering and manufacturing sector, who earn up to R2.3 million a year. 
  19. Tax directors in the finance and accounting sector, who earn up to R2.2 million a year. 
  20. Head of HR in the human resources sector, who earn up to R2.2 million a year. 
  21. Procurement directors in the procurement sector, who earn up to R2.2 million a year. 
  22. Marketing directors in the sales and marketing sector, who earn up to R2.2 million a year. 
  23. Country managers in the sales and marketing sector, who earn up to R2.2 million a year. 
  24. Group company secretaries in the legal sector, who earn up to R2.1 million a year.
  25. Chief information officers in the information technology sector, who earn up to R2 million a year. 
  26. IT directors in the information technology sector, who earn up to R2 million a year. 
  27. IT security managers in the information technology sector, who earn up to R2 million a year. 
  28. Chief enterprise architects in the information technology sector, who earn up to R2 million a year. 
  29. Project directors in the engineering and manufacturing sector, who earn up to R2 million a year. 
  30. Head of sales and sales directors in the sales and marketing sector, who earn up to R2 million a year.