Recruitment platform Pnet has identified chief executives, chief financial officers and credit risk leaders as the highest earners in South Africa.
Pnet’s salary guide reveals that this is according to advertised monthly cost-to-company packages drawn from thousands of vacancies posted on its recruitment platform.
The report, which covers more than 100 roles across 11 sectors, highlights where the strongest earning potential lies in a changing labour market following the recent unemployment statistics released on Wednesday showing nearly 8 million unemployed people.
CEOs, CFOs top list
CEOs have advertised salaries ranging from R144, 482 a month to R225, 000 per month. CFO packages range from R118, 333 to as much as R245, 615 monthly. Executive managers in credit risk also rank within R145, 238 and R169, 792.
Anja Bates, head of data at Pnet, expressed that the figures underline the premium placed on leadership, financial strategy and risk management in large organisations.
“Securing a highly-paid role is all about plotting a long-term destination for your career. Finance and Management remain the highest paid sectors. The top jobs are going to individuals who have invested in their educations and amassed the experience and skills to stand out in a competitive job market,” said Bates.
At the top of the corporate ladder, CEOs carry ultimate responsibility for company strategy, performance and leadership.
Qualifications to climb salary ladder
Most have industry-relevant or commerce degrees. And they often have postgraduate qualifications. These are often supported by strong decision-making, stakeholder management and financial skills.
CFOs are responsible for financial strategy, reporting, governance and risk management. They are typically Chartered Accountants with extensive leadership experience and deep commercial insight.
Executive Managers in Credit Risk oversee lending strategies, portfolio management and compliance. They are usually highly qualified in finance, economics or risk management with strong analytical expertise.
According to Pnet, earnings at the highest level can be significantly greater than the averages in the data. Particularly at major listed companies and large government entities. Where bonuses, incentives and share options form part of total compensation.
For professionals hoping to reach these income levels, Bates advises carefully studying job advertisements. This is in order to understand the qualifications, skills and experience employers expect.
“In addition to formal education and climbing the career ladder, there are other ways to improve your value to potential employers.
“Showing and developing skills such as accountability, leadership and collaboration will help you stand out. It is also important to invest in continuous learning through short courses, seminars and professional certifications,” said Bates.
