Salaries in South Africa

How much should one expect to earn in South Africa, having cleared CT1-8, my new company has plans of moving to Johannesburg?

 

Friends of mine who have graduated from university over the years, and who have had exemption for all the 8 CT's, have tended to earn in the R20k-R25k range per month. I'm guessing that if you have quite a bit of experience you could earn a bit more?

 

It depends in which sector of financial services you're working for. I graduated from university with 7 CT's and I got paid R17025 per month when I began working for a major life insurance company in South Africa.

 

Wasn't that a long time ago? Is that R17025 Total cost to company including benefits like pension etc?

 

That's a good point you raised Edwin. The figures I mentioned in the post before that are cost to company from what I know. I also knew of someone who started out at one of the big insurers on R16000, having had 5 exemptions. And this was some 4 years ago. And on the other end of the scale I knew someone who started off on R29000, having had 8 exemptions, but who was top of the class and working for a well known international company in finance and investments. So I guess it really is very circumstantial..

 

Yes. It was my total guaranteed package. We got R525 per ct exam. They have subsequenly increased the exam award to R750 per ct exam. How much do companies pay for CA1 and ST exam awards in other companies in South Africa?

 

I would also like to know.

 

Current Market Pay in South Africa

I have 3.5 years work experience in Actuarial finance, as well as 13 exemptions from the Actuarial Society of South Africa (F205, F210 and A402 left to write in the upcoming exam session). What is the current market pay in South Africa for this experience and exam passes?

 

Usually, the company that is hiring has a salary bracket for the job profile they are hiring and are very unlikely to break it irrespective of what you quote. Also, they will usually send offers in that bracket to candidates if they feel he is the right fit even though he may over-quote the salary figure. IMHO, it almost always depends on job profile and the company and is never deterministic.

 

Thanks for the response. I just want indication of the "average" current market pay for similar experience so that i can use it as a benchmark.

Many thanks advance.