Financial Manager Salary in South Africa

Financial managers analyze data and advise profit-maximizing steps and ideas for any business or agency. They are responsible for the company’s and organization’s financial health.

Occupation:	Financial Manager
Monthly Salary Range:	R 30670 – R 83330
Average Monthly Salary:	R 63091.5
Description:	Financial managers deal with an organization’s finances and prepare plans for profit maximization for the business they are working for.
Minimum Qualification:	Bachelor’s degree in accounting and finance

Financial managers in South Africa are some of the most critical professionals in the business world responsible for creating financial reports and developing plans for long-term economic benefits for the organization. If you are interested in becoming a financial manager, here is a guide that will let you know about the overview of a financial manager’s salary, the average and median amount, and how the pay is affected by professional experience, gender, and skill.

Overview of Financial Manager Salary

Financial managers are critical members of any organization, responsible for profit-maximizing activities and creating strategies that ensure a company’s long-term growth. The average salary of a financial manager in South Africa is around R 54,330 per month, which becomes approximately R 652,000 annually.

The median salary of a financial manager is roughly R 652,000 per year, meaning 50% of financial managers earn more and 50% earn less. Salaries vary depending on professional experience, location, skills, and gender.

Extras

Financial managers are eligible for bonuses and performance-based incentives in addition to their base salary. Bonuses depend on the organization, size, sector, and performance, typically ranging from R 20,000 to R 100,000 annually.

Salary Structure

Salary Variability Based on Professional Experience

Experience Level	Approximate Annual Salary (ZAR)
Entry / Junior (0–2 years)	R 368,000
Early-Career (2–5 years)	R 550,000
Mid-Level (5–10 years)	R 700,000 – R 800,000
Senior / Experienced (10+ years)	R 800,000 – R 1,000,000+

Salary Variability Based on Education

Financial managers’ salaries also vary depending on education:

• Certificates or diplomas: ~ R 550,000 per year
• Bachelor’s degree: ~ R 743,000 per year
• Master’s degree: ~ R 1,134,000 per year

Salary Variability Based on Gender

• Male financial manager: ~ R 761,000 per year
• Female financial manager: ~ R 708,000 per year
  Males earn approximately 8% more than females in financial management roles.

Responsibilities of Financial Managers

• Manage the overall financial health of the organization.
• Prepare and analyse financial reports, budgets, and forecasts.
• Develop strategies for profitability and financial growth.
• Supervise accounting and finance staff or coordinate with departments.
• Ensure compliance with regulations, audits, and risk management.
• Advise executive management on financial decisions.
• Allocate resources efficiently to increase organizational profit.

FAQs

What is the average salary of a financial manager in South Africa?
The average financial manager earns approximately R 54,330 per month.

What is the starting salary for a financial manager?
Entry-level financial managers earn around R 30,670 per month.

What is the maximum salary for a financial manager?
Senior financial managers can earn up to R 83,330 per month, depending on experience and organization size.

Do financial managers need a degree in South Africa?
Yes, most positions require a bachelor’s degree in accounting, finance, or a related field. Advanced degrees or certifications can increase earning potential.

Is financial management a good career in South Africa?
Yes, financial management offers competitive salaries, growth opportunities, and the ability to significantly influence business strategy and profitability.