Chartered Accountant Salary in South Africa

A Chartered Accountant’s salary is something of a huge curiosity amongst folks. This is specifically because they are paid so well as compared to other professions in South Africa. So, in answer to your query, I am about to share all the related information with you guys.

Occupation:	Chartered Accountant
Monthly Salary Range:	R 23000 – R 70000
Average Monthly Salary:	R 338125
Description:	Chartered Accountants are the experts of Auditing, Taxation, Corporate Laws, and Advisory. They check the financial information prepared by the entities and see if it has any misstatements.
Minimum Qualification:	BCom qualification/program that is accredited by the South African Institute of Chartered Accountants (SAICA)

I would suggest that you pay close attention to everything that I am about to disclose, particularly to the responsibilities of a Chartered Accountant. So, with that being said, let’s get down to details, shall we?

Overview of Chartered Accountant Salary

Chartered Accountancy is a highly respected and lucrative profession in South Africa. CAs are responsible for verifying financial information, identifying errors, advising businesses on financial decisions, and ensuring compliance with tax and auditing standards. The role requires precision, analytical skills, and a deep understanding of finance, which is why CAs are well compensated.

The average salary of a Chartered Accountant in South Africa is approximately R 522,600 per year, which is around R 43,550 per month. Entry-level CAs earn about R 23,100 per month, while senior or highly experienced CAs can earn up to R 70,000 per month or more.

Extras

Chartered Accountants can increase their earnings through:

• Own Practice: Starting a private firm or consultancy once fully qualified can significantly boost income.
• Freelance Work: Offering financial, tax, or advisory services independently adds flexibility and extra income.
• Bonuses & Profit-Sharing: Many CAs receive performance-based bonuses or profit-sharing benefits.

Salary Structure

Job Title	Monthly Salary Range	Average Monthly Salary
Junior Chartered Accountant	R 23,000 – R 30,000	R 26,500
Mid-Level Chartered Accountant	R 40,000 – R 50,000	R 45,000
Senior Chartered Accountant	R 50,000 – R 70,000	R 60,000
Finance Manager / CFO	R 60,000 – R 120,000+	R 90,000+

Salaries increase with experience, specialized skills, and managerial responsibilities. CAs in large corporations or financial institutions often earn more than those in smaller firms.

Responsibilities of Chartered Accountants

1. Check the Financial Information of the Entities

Chartered Accountants are responsible for checking all the financial statements prepared by the companies and see if they comply with the auditing and financial reporting standards. They keep a vigilant stance throughout their investigation and then report to the entity any discrepancies identified.

2. Give Advice on Internal Controls

It is also the responsibility of a Chartered Accountant to check the working operativeness of the internal controls of the entity. If they identify any failure in the effectiveness of the controls, they report to Those Charged With Governance (TCWG) and provide advice on how to rectify the controls.

3. Give Tax Services

A chartered accountant is familiar with all the technicalities of tax-related matters; hence, they can give you excellent advice on how to legally reduce the tax occurrences on your income. They can also file tax returns and legally represent you in courts for suits related to tax matters.

FAQs

Are Chartered Accountants paid well?

Yes, Chartered Accountants are paid handsomely in South Africa. In fact, a junior-level Chartered Accountant who is freshly qualified gets a handsome pay of about R 340 per hour.

What is the average salary of a junior-level Chartered Accountant in South Africa?

A junior-level Chartered Accountant in South Africa receives about R 250,000 every year. This salary is subject to change and could be higher or lower than this figure. Plus, it increases significantly as the Chartered Accountant gains experience.

The Bottom Line

So, it is safe to say that the Chartered Accountants in South Africa are paid exceptionally well. Even the entry-level Chartered Accountant gets a higher salary than most of the highly experienced professionals. So, if you are thinking about starting your career in this field, you should definitely give it a try.