Accounting Manager Average Salary in Cape Town 2024
How much money does a person working as Accounting Manager make in Cape Town?
LOW
28,000
ZAR AVERAGE
53,900
ZAR HIGH
82,500
ZAR
A person working as Accounting Manager in Cape Town typically earns around 53,900 ZAR. Salaries range from 28,000 ZAR (lowest) to 82,500 ZAR (highest).
Salary Variance
This is the average salary including housing, transport, and other benefits. Accounting Manager salaries in Cape Town vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Accounting Manager Pay Scale and Salaries in Cape Town
Salary Structure and Pay Scale Comparison
48,800 ZAR or more
43,500 to 48,800 ZAR
31,700 ZAR or less
31,700 to 43,500 ZAR
 28,000 ZAR |
49,000 ZAR |
82,500 ZAR |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Salaries for the position Accounting Manager in Cape Town range from 28,000 ZAR (starting salary) to 82,500 ZAR (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.
Median Salary
With a median salary of 49,000 ZAR, half of the professionals who work as Accounting Manager in Cape Town earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.
Percentiles and Salary Scale
The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Accounting Manager in Cape Town earn less than 40,700 ZAR, while 75% earn more. Similarly, the chart shows that 75% earn less than 55,600 ZAR while 25% earn more.
Pay Scale Structure
To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Accounting Manager in Cape Town compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 31,700 ZAR to 43,500 ZAR. About 20% of salaries are below the 31,700 ZAR mark, while 10% fall within the range of 43,500 ZAR to 48,800 ZAR. Only 5% of individuals have salaries exceeding 48,800 ZAR.
Salary Comparison by Years of Experience / Accounting Manager / Cape Town
How do experience and age affect pay?
| 0 - 2 Years | 31,900 ZAR | |
| 2 - 5 Years | +34% | 42,700 ZAR |
| 5 - 10 Years | +30% | 55,500 ZAR |
| 10 - 15 Years | +21% | 67,200 ZAR |
| 15 - 20 Years | +9% | 73,500 ZAR |
| 20+ Years | +5% | 77,300 ZAR |
The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Accounting Manager and this is what we found.
Employees with less than two years of experience earn approximately 31,900 ZAR.
While someone with an experience level between two and five years is expected to earn 42,700 ZAR, 34% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 55,500 ZAR, 30% more than someone with two to five years of experience.
Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 67,200 ZAR, 21% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 73,500 ZAR, 9% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 77,300 ZAR, 5% more than people with fifteen to twenty years of experience.
Typical Salary Progress for Most Careers
Salary Comparison By Education / Accounting Manager / Cape Town
How do education levels affect salaries?
Displayed below is the average salary variance between different education levels of professionals working as Accounting Manager.
| Certificate or Diploma | 37,800 ZAR | |
| Bachelor's Degree | +52% | 57,400 ZAR |
| Master's Degree | +42% | 81,400 ZAR |
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Accounting Manager in order to make a comparison.
Level 1: Certificate or Diploma
Employees at this education level have an average salary of 37,800 ZAR.
Level 2: Bachelor's Degree
At this level, the average salary becomes 57,400 ZAR, 52% more than the previous level.
Level 3: Master's Degree
At this level, the average salary becomes 81,400 ZAR, 42% more than the previous level.
Is a Master's degree or an MBA worth it? Should you pursue higher education?
A Master's degree program or any post-graduate program in South Africa costs anywhere from 156,000 ZAR to 469,000 ZAR and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Typical Salary Difference by Education for Most Careers
Salary and Compensation Comparison By Gender / Accounting Manager / Cape Town
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Accounting Manager in South Africa, the average difference between the salary of male and female employees is 8%.
| Male | 47,800 ZAR | |
| Female | -7% | 44,300 ZAR |
Salary Comparison By Gender in South Africa for all Careers
Average Annual Salary Increment Percentage / Accounting Manager / Cape Town
How much are annual salary increments in Cape Town for individuals working as Accounting Manager? How often do employees get salary raises?
Individuals working as Accounting Manager in South Africa are likely to observe a salary increase of approximately % every months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.
South Africa / All Professions
The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
How to calculate the salary increment percentage?
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency
Worldwide Salary Raises: All Countries and All Jobs
Salary Packages and Schemes
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
Bonus and Incentive Rates / Accounting Manager / South Africa
How much and how often are bonuses being awarded?
Share This Chart Tweet Get Chart Linkhttp://www.salaryexplorer.com/charts/south-africa/accounting-and-finance/accounting-manager/annual-salary-bonus-rate-south-africa-accounting-manager.jpg
100% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while % said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from % to % of their annual salary.
| Received Bonus | % | |
| No Bonus | 100% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.
Goal-Based BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese types of bonuses are given without a reason and usually resemble an appreciation token.
Bonuses Are Not Commissions!
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
What makes a position worthy of good bonuses and a high salary?
The main two types of jobs | |
| Revenue Generators | Supporting Cast |
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business. | Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations. |
Example: | Example: |
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Bonus Comparison by Seniority Level
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
Average Hourly Wage / Accounting Manager / Cape Town
310 ZAR per hourThe average hourly wage (pay per hour) for individuals working as Accounting Manager in Cape Town is 310 ZAR.This is the rate they get paid for every worked hour.
About The Hourly Pay Rate
The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
What is the minimum hourly rate of pay?
The minimum pay rate per hour for people working as Accounting Manager in Cape Town is 160 ZAR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Salary comparison with similar jobs
| Job Title | Average Salary |
| Accounting and Finance |  -100% | |
| Account Examiner | 19,500 ZAR | -64% |
| Account Executive | 32,200 ZAR | -40% |
| Accountant | 25,600 ZAR | -53% |
| Accounting Analyst | 32,400 ZAR | -40% |
| Accounting Assistant | 19,200 ZAR | -64% |
| Accounting Associate | 18,300 ZAR | -66% |
| Accounting Clerk | 15,300 ZAR | -72% |
| Accounting Coordinator | 23,500 ZAR | -56% |
| Accounting Head | 51,000 ZAR | -5% |
| Accounting Manager | 53,900 ZAR | -0% |
| Accounting Officer | 18,700 ZAR | -65% |
| Accounting Specialist | 32,700 ZAR | -39% |
| Accounting Supervisor | 35,500 ZAR | -34% |
| Accounting Technician | 18,100 ZAR | -66% |
| Accounting Unit Controller | 42,300 ZAR | -22% |
| Accounts Executive | 31,700 ZAR | -41% |
| Accounts Officer | 20,000 ZAR | -63% |
| Accounts Payable and Receivable Specialist | 25,000 ZAR | -54% |
| Accounts Payable Assistant | 20,200 ZAR | -63% |
| Accounts Payable Associate | 22,200 ZAR | -59% |
| Accounts Payable Clerk | 18,000 ZAR | -67% |
| Accounts Payable Manager | 50,700 ZAR | -6% |
| Accounts Receivable Administrator | 36,000 ZAR | -33% |
| Accounts Receivable Clerk | 18,300 ZAR | -66% |
| Accounts Receivable Financial Analyst | 36,000 ZAR | -33% |
| Accounts Receivable Manager | 50,500 ZAR | -6% |
| Accounts Receivable Team Leader | 36,000 ZAR | -33% |
| Algorithmic Trading Specialist | 43,200 ZAR | -20% |
| Assistant Accountant | 19,600 ZAR | -64% |
| Assistant Accounting Manager | 47,300 ZAR | -12% |
| Assistant Auditor | 25,100 ZAR | -53% |
| Assistant Corporate Controller | 34,800 ZAR | -35% |
| Assistant Finance Manager | 54,500 ZAR |  +1% |
| Assistant Financial Controller | 32,900 ZAR | -39% |
| Audit Director | 55,200 ZAR | +2% |
| Audit Supervisor | 46,600 ZAR | -14% |
| Auditing Clerk | 20,000 ZAR | -63% |
| Auditing Manager | 54,300 ZAR | +1% |
| Billing Clerk | 18,800 ZAR | -65% |
| Billing Coordinator | 23,700 ZAR | -56% |
| Billing Specialist | 27,400 ZAR | -49% |
| Billing Supervisor | 38,700 ZAR | -28% |
| Bookkeeper | 15,900 ZAR | -71% |
| Bookkeeping Specialist | 24,700 ZAR | -54% |
| Budget Analyst | 44,000 ZAR | -18% |
| Budget Manager | 50,400 ZAR | -7% |
| Business Support Analyst | 28,400 ZAR | -47% |
| Capital Markets Associate | 38,900 ZAR | -28% |
| Cash Flow Analyst | 39,000 ZAR | -28% |
| Cash Management Manager | 48,900 ZAR | -9% |
| Cash Management Officer | 30,000 ZAR | -44% |
| Cashbook Clerk | 16,600 ZAR | -69% |
| Chartered Accountant | 32,000 ZAR | -41% |
| Chief Accountant | 38,800 ZAR | -28% |
| Chief Financial Technology Officer | 52,000 ZAR | -4% |
| Collections Clerk | 15,600 ZAR | -71% |
| Collections Representative | 22,000 ZAR | -59% |
| Collections Specialist | 25,100 ZAR | -53% |
| Corporate Controller | 40,600 ZAR | -25% |
| Corporate Treasurer | 47,000 ZAR | -13% |
| Cost Accountant | 25,200 ZAR | -53% |
| Cost Accounting Manager | 51,600 ZAR | -4% |
| Cost Accounting Supervisor | 42,000 ZAR | -22% |
| Cost Analyst | 39,600 ZAR | -27% |
| Credit and Collection Manager | 48,900 ZAR | -9% |
| Credit and Collection Staff | 18,800 ZAR | -65% |
| Credit and Loans Officer | 19,000 ZAR | -65% |
| Credit Controller | 34,100 ZAR | -37% |
| Credit Manager | 52,400 ZAR | -3% |
| Debt Adviser | 41,200 ZAR | -24% |
| Debt Collector | 21,200 ZAR | -61% |
| Debtors Clerk | 16,600 ZAR | -69% |
| Debtors Controller | 18,700 ZAR | -65% |
| Deputy CFO | 67,900 ZAR | +26% |
| Deputy Head of Finance | 68,700 ZAR | +27% |
| Derivative Trader | 44,200 ZAR | -18% |
| Director of Finance | 75,800 ZAR | +41% |
| E-commerce Accountant | 26,100 ZAR | -52% |
| Economist | 57,000 ZAR | +6% |
| Equity Analyst | 46,800 ZAR | -13% |
| Escrow Assistant | 21,500 ZAR | -60% |
| Executive Accountant | 27,300 ZAR | -49% |
| External Auditor | 35,000 ZAR | -35% |
| Finance Administrator | 29,100 ZAR | -46% |
| Finance Analyst | 45,100 ZAR | -16% |
| Finance Associate | 22,900 ZAR | -58% |
| Finance Data Analyst | 39,700 ZAR | -26% |
| Finance Director | 74,400 ZAR | +38% |
| Finance Executive | 53,100 ZAR | -2% |
| Finance Licensing Clerk | 18,300 ZAR | -66% |
| Finance Licensing Manager | 46,200 ZAR | -14% |
| Finance Licensing Specialist | 27,700 ZAR | -49% |
| Finance Manager | 67,500 ZAR | +25% |
| Finance Officer | 23,100 ZAR | -57% |
| Finance President | 77,300 ZAR | +43% |
| Finance Relationship Manager | 57,600 ZAR | +7% |
| Finance Release Analyst | 27,700 ZAR | -49% |
| Finance Specialist | 42,200 ZAR | -22% |
| Finance Team Leader | 58,600 ZAR | +9% |
| Financial Accountant | 25,100 ZAR | -53% |
| Financial Actuary | 39,900 ZAR | -26% |
| Financial Administrator | 42,900 ZAR | -20% |
| Financial Advisor | 44,300 ZAR | -18% |
| Financial Analyst | 44,600 ZAR | -17% |
| Financial Applications Specialist | 30,200 ZAR | -44% |
| Financial Assistant | 20,600 ZAR | -62% |
| Financial Associate | 24,700 ZAR | -54% |
| Financial Claims Analyst | 32,300 ZAR | -40% |
| Financial Claims Manager | 45,300 ZAR | -16% |
| Financial Claims Supervisor | 40,200 ZAR | -25% |
| Financial Clerk | 18,900 ZAR | -65% |
| Financial Commercial Analyst | 37,800 ZAR | -30% |
| Financial Compliance Analyst | 41,100 ZAR | -24% |
| Financial Compliance Officer | 41,100 ZAR | -24% |
| Financial Consultant | 33,600 ZAR | -38% |
| Financial Controller | 40,000 ZAR | -26% |
| Financial Coordinator | 23,300 ZAR | -57% |
| Financial Customer Service Manager | 44,000 ZAR | -18% |
| Financial Data Scientist | 46,200 ZAR | -14% |
| Financial Dealer and Broker | 27,900 ZAR | -48% |
| Financial Director | 72,300 ZAR | +34% |
| Financial Encoder | 21,400 ZAR | -60% |
| Financial Manager | 73,700 ZAR | +37% |
| Financial Modelling Analyst | 47,200 ZAR | -12% |
| Financial Operations Manager | 61,600 ZAR | +14% |
| Financial Policy Analyst | 38,900 ZAR | -28% |
| Financial Project Manager | 53,500 ZAR | -1% |
| Financial Quantitative Analyst | 45,100 ZAR | -16% |
| Financial Reporting Consultant | 37,100 ZAR | -31% |
| Financial Reporting Manager | 47,900 ZAR | -11% |
| Financial Section Head | 49,900 ZAR | -7% |
| Financial Services Manager | 64,200 ZAR | +19% |
| Financial Services Sales Agent | 26,500 ZAR | -51% |
| Financial Technology Consultant | 39,600 ZAR | -27% |
| Financial Wellness Coach | 49,300 ZAR | -9% |
| FinTech Analyst | 43,800 ZAR | -19% |
| Fixed Assets Administrator | 25,200 ZAR | -53% |
| Forensic Accountant | 29,100 ZAR | -46% |
| Fraud Detection Supervisor | 31,400 ZAR | -42% |
| Fraud Prevention Manager | 49,700 ZAR | -8% |
| Fund Accountant | 24,700 ZAR | -54% |
| Grants Coordinator | 18,900 ZAR | -65% |
| Green Finance Analyst | 37,000 ZAR | -31% |
| Group Financial Manager | 72,200 ZAR | +34% |
| Internal Auditor | 35,300 ZAR | -35% |
| Internal Control Adviser | 40,100 ZAR | -26% |
| Internal Control Officer | 21,200 ZAR | -61% |
| International Tax Director | 60,500 ZAR | +12% |
| Inventory Accountant | 25,200 ZAR | -53% |
| Investment Advisor | 66,000 ZAR | +22% |
| Investment Analyst | 51,500 ZAR | -4% |
| Investment Associate | 43,800 ZAR | -19% |
| Investment Broker | 41,900 ZAR | -22% |
| Investment Fund Manager | 55,700 ZAR | +3% |
| Investment Operations Manager | 58,900 ZAR | +9% |
| Investment Underwriter | 22,400 ZAR | -58% |
| Investor | 32,500 ZAR | -40% |
| Investor Relations Manager | 48,400 ZAR | -10% |
| KYC Team Leader | 48,500 ZAR | -10% |
| Loan Processor | 21,500 ZAR | -60% |
| Management Accountant | 29,200 ZAR | -46% |
| Management Economist | 56,000 ZAR | +4% |
| Paymaster | 21,100 ZAR | -61% |
| Payroll Administrator | 32,200 ZAR | -40% |
| Payroll Benefits Coordinator | 28,000 ZAR | -48% |
| Payroll Billing Manager | 44,300 ZAR | -18% |
| Payroll Clerk | 22,500 ZAR | -58% |
| Payroll Manager | 45,300 ZAR | -16% |
| Payroll Officer | 22,400 ZAR | -58% |
| Payroll Specialist | 25,600 ZAR | -53% |
| Payroll Supervisor | 33,400 ZAR | -38% |
| Pensions Administrator | 25,500 ZAR | -53% |
| Personal Financial Advisor | 39,100 ZAR | -27% |
| Pricing Analyst | 41,100 ZAR | -24% |
| Private Equity Analyst | 42,900 ZAR | -20% |
| Project Accountant | 26,600 ZAR | -51% |
| Proposal Development Coordinator | 21,400 ZAR | -60% |
| Quantitative Trader | 35,200 ZAR | -35% |
| Receivables Accountant | 23,400 ZAR | -57% |
| Regulatory Accountant | 27,000 ZAR | -50% |
| Retirement Plan Analyst | 40,600 ZAR | -25% |
| Revenue Management Specialist | 40,400 ZAR | -25% |
| Revenue Recognition Analyst | 46,500 ZAR | -14% |
| Risk Management Director | 58,300 ZAR | +8% |
| Risk Management Supervisor | 50,700 ZAR | -6% |
| Staff Accountant | 24,900 ZAR | -54% |
| Tax Accountant | 23,900 ZAR | -56% |
| Tax Administrator | 28,400 ZAR | -47% |
| Tax Advisor | 38,400 ZAR | -29% |
| Tax Analyst | 36,700 ZAR | -32% |
| Tax Associate | 20,500 ZAR | -62% |
| Tax Consultant | 40,400 ZAR | -25% |
| Tax Director | 56,200 ZAR | +4% |
| Tax Examiner | 27,500 ZAR | -49% |
| Tax Manager | 50,100 ZAR | -7% |
| Tax Research Manager | 53,000 ZAR | -2% |
| Teller | 14,800 ZAR | -73% |
| Treasury Accountant | 26,400 ZAR | -51% |
| Treasury Analyst | 43,100 ZAR | -20% |
| Underwriter | 18,200 ZAR | -66% |
| Underwriting Assistant | 16,400 ZAR | -70% |
| Vice President of Finance | 69,800 ZAR | +29% |
Salary Comparison By City
| City | Average Salary |
| Cape Town | 53,900 ZAR |
| Johannesburg | 49,600 ZAR |
Government vs Private Sector Salary Comparison
Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in South Africa is 7% on average across all career fields.
| Private Sector | 30,400 ZAR | |
| Public Sector | +7% | 32,400 ZAR |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for the job title Accounting Manager in Cape Town?
A good and competitive compensation would range anywhere between 49,000 ZAR and 55,600 ZAR. This is a very rough estimate. Experience and education play a very huge part in the final earnings.
Gross Salary (before tax) and Net Salary (after tax)
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.
Base / Basic Salary
The base salary for a careers like Accounting Manager in Cape Town ranges from 28,000 ZAR to 40,700 ZAR. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.
What is the difference between the median and the average salary?
Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
