How Salaries in South Africa Have Changed from 2018 to 2024

As job seekers evaluate their options, salaries remain a critical factor in career decisions. The October 2024 Pnet Job Market Trends Report provides insight into salary trends across South Africa’s job market, highlighting both growth and decline over the past six years. These fluctuations underscore the impact of economic changes, skill demand, and global shifts on wages across sectors.

Key Findings on South Africa’s Salary Changes

Pnet’s report analyzed salary trends from 2018 to 2024, focusing on Gauteng’s intermediate-level roles across five primary sectors: Engineering, Finance, Business & Management, IT, and Admin. Here’s how salaries evolved:

1. Engineering Sector

Civil Engineer

• 2018: R48,628.30 – R58,605.56
• 2021: R55,666.67 to R73,630.95
• 2024: R52,466.67 – R64,277.78
  • Overall Change: Civil engineer salaries increased by 8-10% over six years despite a brief dip in 2021.

Electrical Engineer

• 2018: R43,173.08 – R52,352.56
• 2021: R33,910.26 to R41,884.62
• 2024: R49,215.84 – R60,870.30
  • Overall Change: A significant increase of 14-16% driven by skill shortages and demand growth post-pandemic.

Structural Engineer

• 2018: R46,496.21 – R61,031.75
• 2021: R44,437.50 to R46,729.17
• 2024: R41,526.11 – R54,027.78
  • Overall Change: Structural engineers faced an 11% decline, reflecting market adjustments and reduced project investments.

2. Finance Sector

Accountant

• 2018: R36,675.40 – R43,846.54
• 2021: R33,310.23 to R40,957.73
• 2024: R35,889.26 – R44,237.52
  • Overall Change: Minimal salary change, indicating stable demand and supply within the finance sector.

Bookkeeper

• 2018: R17,874.62 – R21,102.20
• 2021: R18,349.25 to R22,490.86
• 2024: R19,920.29 – R24,918.52
  • Overall Change: An 11-18% increase, possibly due to rising demand for finance-related support roles.

Financial Controller

• 2018: R50,596.82 – R60,287.22
• 2021: R49,206.34 to R56,686.27
• 2024: R37,867.36 – R52,060.01
  • Overall Change: Decrease of 24-25% in salaries, likely linked to evolving financial strategies and automation.

3. Business & Management Sector

Office Manager

• 2018: R17,322.22 – R26,268.52
• 2021: R23,133.33 to R26,821.43
• 2024: R23,163.89 – R30,205.56
  • Overall Change: Salaries rose by 15-34%, driven by demand for experienced management skills in a growing business landscape.

Branch Manager

• 2018: R33,983.29 – R47,184.40
• 2021: R24,857.14 to R34,241.13
• 2024: R28,318.02 – R35,417.20
  • Overall Change: Salaries remain 17-25% lower than in 2018, reflecting economic disruptions and cost-saving measures.

General Manager

• 2018: R77,843.75 – R86,348.16
• 2021: R72,873.74 to R82,775.10
• 2024: R76,766.88 – R94,673.27
  • Overall Change: A 10% increase, showcasing the ongoing need for executive leadership amid organizational changes.

4. Information Technology (IT) Sector

Net Developer

• 2018: R37,741.17 – R50,287.57
• 2021: R45,000.00 to R54,561.27
• 2024: R38,696.08 – R51,958.33
  • Overall Change: Minimal change, consistent with a global trend of fluctuating demand for software development roles.

Data Analyst

• 2018: R35,180.85 – R44,730.07
• 2021: R36,524.38 to R44,440.79
• 2024: R36,195.65 – R45,638.89
  • Overall Change: Stable salaries, as data roles maintain a steady demand.

IT Project Manager

• 2018: R45,246.67 – R56,929.08
• 2021: R53,622.97 to R80,225.57
• 2024: R43,902.23 – R55,955.13
  • Overall Change: Relatively unchanged, reflecting a balance in project management demand and skills availability.

5. Admin, Office & Support Sector

Receptionist

• 2018: R9,841.93 – R12,811.67
• 2021: R12,836.38 to R14,511.95
• 2024: R11,385.94 – R13,822.83
  • Overall Change: 8-16% increase, likely due to operational demands and cost-of-living adjustments.

Office Administrator

• 2018: R12,988.41 – R16,416.17
• 2021: R12,582.09 to R16,020.83
• 2024: R14,980.33 – R20,050.00
  • Overall Change: A notable rise of 15-22%, highlighting the need for skilled administrative support.

Personal Assistant

• 2018: R18,984.65 – R23,383.78
• 2021: R18,922.22 to R22,916.67
• 2024: R16,375.00 – R21,622.55
  • Overall Change: A decline of 8-14%, as demand for personal assistant roles decreased.

Key Factors Influencing Salary Trends

• Economic Shifts: The COVID-19 pandemic and subsequent economic challenges have impacted wage trends, especially within finance and engineering.
• Skill Demand and Supply: Sectors with skill shortages, like engineering and IT, saw higher salary offers, particularly for electrical engineers and office managers.
• Sector-Specific Dynamics: Finance and business management roles saw more fluctuations due to automation and cost-cutting trends.

A Mixed Picture for South African Salaries

The evolution of salaries in South Africa between 2018 and 2024 highlights an unpredictable job market. While some sectors experienced growth due to skill demand, others saw declines amid economic changes. As South Africa’s job market continues to adapt to global and local shifts, job candidates must stay informed on sector-specific trends to make the best career decisions.