Newly qualified CA(SA) Realistic Salary

[rorz0r]

TOPP is a different story salary wise to TIPP. It's basically just getting paid a normal amount for the job you're doing. When you qualify you can expect a pay bump but in TIPP you're underpaid and overworked (because they can) so when you qualify and have choices your salary jumps quite a bit. Not sure what latest figures would be but about 25-30 before end of articles and 40-50 as soon as you're done.

 

[cguy]

What is the "hard stuff"? Starting honours next year and don't want to be on the wrong track.

Ideally, do Maths, App. maths, Stats, etc. with your CS degree. Do the courses that are known to be hard. Looking at current UCT modules: Computer Vision, Advanced Computer Graphics, HPC, Machine Learning, Honours Math courses, etc. Choose an honours project (or later in an MSc/PhD, a thesis) that is based on science and technology, rather than a project about CS/technology as it applies to education, cultural preservation, art, etc. (not that these aren't important, they just have a lower barrier to entry).

 

[Moroni]

Moroni

I just finished my articles now although I'm still studying (started straight out of school) so let me know if you... I meaend... need any more info

Well dude I need help, I stay port elizabeth and I am planning to study Bcom Accounting part time and start a 5 year contract.. How much do you think they can offer on average?

 

[Mavix]

Well dude I need help, I stay port elizabeth and I am planning to study Bcom Accounting part time and start a 5 year contract.. How much do you think they can offer on average?

I started at a medium sized firm and in my first year I got R4,500. That was in 2010 though, so I would imagine that depending on where you go they'll offer you between R5,000 (for a smaller firm) and R7,000 (for one of the top firms). But it'll probably be closer to 5K than the 7K.

 

[Dr Who]

Looks like this thread is still going. Some points from what I have experienced. Lets let the level:

1) Did articles at a big 4 in Durban, pay was something like this ( R5,700 , R9,200 , R14,800 ) for each year of articles. I passed all boards first time.

2) In real world I started as stated above on R32,500 but I was able to bounce around and learn alot. My salary did increase after that but has also evened out. Remember you need to be a value add to the employer at each salary grade.

My policy has been that I will only worry about being well paid once I have stopped learning and if I stop learning its time for new beginnings or tough salary negotiations. As I accumulate experience I am happy to forgo short term gains as I am sure that in the long run I will be better off.

So far I have had the privileged of
1) Reporting to a Listed board of Directors and sat on the board. Elected to be an invitee and not a board member as I did not feel that I my voice would heard and that at times I did not agree with the direction. But to be part of that at a young age has helped me immensely.
2) Start a SME as part of the groups expansion
3) Turn around an loss making subsidiary
4) Merge two Divisions
5) Grow a Global brand, relocate and design bespoke offices and warehouse operations
6) Launch a new brand into the market

As long as I can keep adding to this list I am happy, when I stop that is when I need to start focusing on the bottom line ( my Pay ). However on this journey I have seen my earning potential grow. The best advice is that Roman was not built in a day, setting a good foundation will pay dividends in the end.

You can jump from company to company for more money but you will eventually be left over paid and under skilled which is a dangerous position to be in in this struggling economy.

For all those who think the route of a CA is boring all I can say is it has nothing to do with being a CA but rather the path you selected.

 

[Joe505]

Looks like this thread is still going. Some points from what I have experienced. Lets let the level:

1) Did articles at a big 4 in Durban, pay was something like this ( R5,700 , R9,200 , R14,800 ) for each year of articles. I passed all boards first time.

2) In real world I started as stated above on R32,500 but I was able to bounce around and learn alot. My salary did increase after that but has also evened out. Remember you need to be a value add to the employer at each salary grade.

My policy has been that I will only worry about being well paid once I have stopped learning and if I stop learning its time for new beginnings or tough salary negotiations. As I accumulate experience I am happy to forgo short term gains as I am sure that in the long run I will be better off.

So far I have had the privileged of
1) Reporting to a Listed board of Directors and sat on the board. Elected to be an invitee and not a board member as I did not feel that I my voice would heard and that at times I did not agree with the direction. But to be part of that at a young age has helped me immensely.
2) Start a SME as part of the groups expansion
3) Turn around an loss making subsidiary
4) Merge two Divisions
5) Grow a Global brand, relocate and design bespoke offices and warehouse operations
6) Launch a new brand into the market

As long as I can keep adding to this list I am happy, when I stop that is when I need to start focusing on the bottom line ( my Pay ). However on this journey I have seen my earning potential grow. The best advice is that Roman was not built in a day, setting a good foundation will pay dividends in the end.

You can jump from company to company for more money but you will eventually be left over paid and under skilled which is a dangerous position to be in in this struggling economy.

For all those who think the route of a CA is boring all I can say is it has nothing to do with being a CA but rather the path you selected.

Geez sounds like you have accomplished quite a lot so far, congrats. How many years are you out of articles now?

My articles end at the end of November So excited!!

I am currently doing TOPP and I must say, having started off in TIPP, I have had a wonderful articles experience.

I see the average monthly salary for post articles is from around R32k - R50k. Just to confirm is this pre or post tax?

Salary negotiations should start soon so I'd like to have a good idea of what the current market related salaries are.

For those of you studying to become a CA, all I can say is persevere and learn as much as you can, especially during the dreaded articles period. As the quote goes "If it was easy, everyone would be doing it"

 

[Shard]

I'm a year out from finishing articles and still have to pass board 2. I'm currently on R32000

An I'm guessing you're an audit manager, thats how they lock you in.

Edit: Read subsequent posts. Ye if you're doing TOPP at one of the Investment Banks or Asset Managers you'll be earning that, but it doesn't jump past what you'd get after Articles at a Audit firm when you qualify. Unless its Investec, that place has money to burn lol.

 

[Dr Who]

I was lucky, joined a Client who was bought out by a Listed company and had expanded too fast, which lead to loads of right sizing which was create for me.

Just remember with the good comes the bad, Its great to get experience in turning a company around but in order to do that you have to make hard decisions which impact on the lives of people who can least afford it. So its not all glory and roses.

Dont worry about salary now, find a job that allows you growth and learning and do you best the opportunity will come to increase your worth.

 

[stixx]

Are we discussing gross or net salaries here?

 

[Dr Who]

Gross - It is a better comparison as with Net its after tax, pension and deductions all which may vary significantly from one employer to another.

 

[Topdoggdbn]

Thanks that's what my friend done. Looked at bigger picture. Taking a big knock in salary imo. But they a general manager for a new company in a decent sized group. So lots to experience and learning. Work is interesting and the director is good to work with and willing to discuss salary as company grows.
So money not really important.

 

[Topdoggdbn]

For now.

 

[stixx]

Are we discussing gross or net salaries here?

Ah, so I am earning the same as some figures quoted in less time with significantly less effort

I guess long term career and salary growth will be very different though.

 

[kdub]

I started articles in 2005 and earned R4000pm. Moved firms the following year and went to about R16.5K then R18K. My first job after articles i Got R40K before I actually qualified. Once qualified in 2010 went to R50Kpm. Am now on +/- R80Kpm

These are CTC figures.

 

[kdub]

For newly qualified CAs I often see adverts for positions for R600K a year CTC. But that is certainly not in Durban. I have NO IDEA what you can expect in Durban.

 

[modern10]

An I'm guessing you're an audit manager, thats how they lock you in.

Edit: Read subsequent posts. Ye if you're doing TOPP at one of the Investment Banks or Asset Managers you'll be earning that, but it doesn't jump past what you'd get after Articles at a Audit firm when you qualify. Unless its Investec, that place has money to burn lol.

I'm actually at BAT and have passed my second board exam. They want to retain me so we are about to negotiate a new contract.

 

[Shard]

I'm actually at BAT and have passed my second board exam. They want to retain me so we are about to negotiate a new contract.

Eish the drive - if you're living in CT that is.

Good luck for negotiation then, from what I've heard its a cool company to work for, if you don't have any qualms about the fact that you're selling a product that kills ppl slowly .

 

[Moroni]

moroni

I just finished my articles now although I'm still studying (started straight out of school) so let me know if you... I mean your friend... need any more info

Thank you for the info.. My last question is do you get salary adjustment every year or you have to finish your CTA first before they can adjust your salary when you are in a 5 year contract?

 

[Mavix]

Thank you for the info.. My last question is do you get salary adjustment every year or you have to finish your CTA first before they can adjust your salary when you are in a 5 year contract?

They should give you an increase at least once a year, sometimes twice a year depending on where you work. And then you'll get a bigger increase when you get your CTA.

 

[goga]

Exactly, even though you might start at R25K it won't take long to get to R50K.

In Durban? Sounds way too high for Durbs.

A lot depends on where you article'd - big4 or smaller firms.
Then are you staying in prof or going into industry.

I'm a bit out of the newly qualified space, but I'd think JHB is newly qualified R480k CTC PA (stop this pre/post tax nonsense). Durban would be approx 20% lower I'm guessing. So say R380k CTC PA.
And fluctuates from anything betw. R300k - R420k PA CTC depending on where you articled and which company you're joining.

Lots of CA's sitting around looking for work in Durban.. lousy market it used to be. Not sure if it's improving..