SOUTH AFRICAIt was a relatively good year for recruitment in South Africa. Market conditions improved compared to 2013, although the country continued to face a number of key challenges.

During 2014, South Africa was displaced by Nigeria as Africa’s largest economy, and the Rand dropped to a five-year low against the US dollar. The run-up to the general election also led to some uncertainty among the business community, while strikes in mining and engineering caused disruption and impacted the construction and engineering sectors.

Although the jobs market was

relatively buoyant, the recruitment process became more protracted in 2014. Many organisations exhausted their

own recruitment resources before enlisting external specialist help, while lengthy sign-off procedures and bureaucracy slowed things further. Job seekers also appeared wary of moving without reassurances, seeking guarantees of increased salaries, bonuses and development opportunities before accepting new offers.

A continued focus amongst companies on improving IT and support infrastructure meant there was strong demand for IT professionals and increased hiring activity in this area. We also saw some candidate movement into pharmaceutical and FMCG multinationals. Mining fell sharply early in the year, but as the strikes subsided, hiring began to pick up once again, albeit slowly, with particular demand for finance professionals among some of the bigger mining companies.

Experience was a common theme throughout the year, with well-qualified candidates needed to fill legal, finance and engineering roles. Specifically, companies were looking for internationally minded professionals who could add real business value. Those who could integrate seamlessly into an organisation were also in demand as companies looked to minimise the downtime often witnessed during the onboarding of more junior staff.

However, candidates with post-qualified experience, including lawyers, accountants and engineers proved hard to find in the South African market, and we anticipate they will continue to be scarce in 2015. Indeed, professionals with 2-5 years’ experience, and the more senior professionals with 7-10 years’ experience, will continue to elude hiring managers in the year ahead. In order to secure their ideal candidates, hiring managers are advised to design their recruitment process to be as smooth and efficient as possible. Clearly defined careers paths and opportunities will also bring peace of mind to those employees seeking both reassurance and variety. The 10-15% salary increases for job movers seen in 2014 will need to be met this year too, if not exceeded, in order to entice the best talent into new roles.

Looking ahead we expect market conditions in South Africa to improve and recruitment activity to increase further. However, companies will continue to face certain challenges, mainly Black Economic Empowerment (BEE) which places certain restrictions on which candidates companies can target.

SOUTH AFRICACOUNTRY OVERVIEW

10-15% salary increases for job movers will need to be met this year, if not exceeded, in order to entice people into new roles.

“

SOUTH AFRICA ACCOUNTING & FINANCE

Robert Walters Global Salary Survey 2015489

Improved business confidence and a desireto expand across Africa during 2014 createdan increase in accountancy vacancies withincommerce and industry. There was demandfor experienced industry professionals at alllevels as companies sought to hire candidateswho could make an immediate impact ontheir business.

The ongoing market uncertainty in sectorslike mining, steel and telecoms forced hiringmanagers to look for professionals withcommercial, analysis and planning skills asbusinesses continued to drive and measuretheir performance closely and manage theircosts more effectively.

With increased investment opportunitiesacross Africa, companies will requireaccounting and finance professionals whohave regional or local experience. Languageskills, like French and Portuguese, will behighly desirable as well as a willingness to

travel to sub-Saharan Africa. EmploymentEquity professionals with sound industryknowledge will also be highly sought-afterin 2015. Businesses are looking to hirespecialists with at least three to five years’experience.

Salaries in 2014 did increase but onlybetween 2-7%. However, we saworganisations offer up to 10% incrementsfor Employment Equity professionals, aswell as other candidates in high demand.These included accounting and financeprofessionals with industry experience - thistrend is expected to continue in 2015. Tosecure these in-demand candidates, hiringmanagers will need streamlined recruitmentprocesses, creating a positive impressionfrom the start of the process.

Overall, hiring activity is expected to increasein 2015 as multinationals look to grow intoAfrica, especially sub-Saharan Africa.

KEY TRENDSSalaries increased in 2014 between 2-7%, although in-demandprofessionals could command a 10% increase.

Financial analysts and commercial and financial managers with at least twoto three years’ experience were highly sought-after in 2014.

Due to changes in Black Economic Empowerment regulations, there is aneed for businesses to hire candidates across all levels of seniority.

“Soaring investmentlevels across Africamean that in 2015,companies will lookfor accounting andfinanceprofessionals withregional experience.

SOUTH AFRICA ACCOUNTING & FINANCE

Robert Walters Global Salary Survey 2015 490

ROLE PERMANENT SALARY PER ANNUM ZAR (R)

2014 2015

Qualified CA (SA) or CIMA

Chief Financial Officer (JSE Top 200) 1.5 - 2.5m 1.8 - 3m

Finance Director (Large Firm) 1.1 - 1.9m 1.3 - 2m

CFO/FD (SME) 1 - 1.4m 1.1 - 1.5m

Senior Finance Manager 850k - 1.1m 950k - 1.2m

Finance Manager 650 - 850k 750 - 900k

Senior Finance Analyst 700 - 900k 750k - 1m

Finance Analyst 500 - 650k 550 - 700k

Group Accountant 400 - 600k 450 - 650k

Newly-qualified CA (SA) 550 - 600k 500 - 575k

Audit Manager 600 - 900k 650 - 950k

Internal Auditor 300 - 500k 330 - 550k

Qualified CIMA (3-5 yrs' exp) 600 - 900k 650 - 950k

Qualified CIMA (1-3 yrs' exp) 450 - 600k 450 - 600k

Part-qualified CA (SA) or CIMA

Senior Finance Manager 750k - 1m 800k - 1.1m

Finance Manager 500 - 700k 550 - 750k

Senior Finance Analyst 600 - 800k 700 - 900k

Finance Analyst 400 - 600k 500 - 700k

Articles (3-5 yrs' exp) 400 - 600k 440 - 650k

Articles (1-3 yrs' exp) 300 - 450k 330 - 500k

Bcom (3-5 yrs' exp) 200 - 300k 220 - 350k

Bcom (1-3 yrs' exp) 140 - 200k 150 - 220k

Taxation/Treasury

Group Tax Manager 900k - 1.25m 900k - 1.25m

Tax Manager 500 - 750k 550 - 800k

Tax Accountant 300 - 500k 330 - 550k

Group Treasury Manager 600 - 900k 650k - 1m

Treasury Accountant 200 - 400k 220 - 450kNB: These figures are cost to company excluding bonuses.

SOUTH AFRICA BANKING & FINANCIAL SERVICES

Robert Walters Global Salary Survey 2015491

The financial services recruitment market grewduring 2014 - driven mainly by internationalorganisations with a presence in South Africaexpanding into ub-Saharan Africa. A numberof investment banks looked to grow theirfootprint in Africa, which resulted in increasedheadcount and demand for specialist bankingand financial professionals with specificproduct, sector and skills.

Hiring managers looked for candidates withlocal experience, as well as focusing onthose with specialist market knowledge.This included seasoned professionals whocould make an immediate impact, such aschartered accountants with extra skills likechartered financial analyst (CFA), certifiedfinancial planning (CFP), Johannesburg StockExchange (JSE) settlements and complianceofficer qualifications. Employers were alsoseeking experienced professionals able tomake an immediate impact on the business.

As more banks look to expand into Sub-

Saharan Africa, we believe banking andfinance professionals with internationalexperience will continue to be highly sought-after in 2015.

We expect to see a shortage of riskprofessionals with specialist industry orproduct-orientated skills in 2015. Riskspecialists will continue to be a key hire asfirms look for staff that can implement policiesrelated to newly-enacted regulations, like anti-money-laundering and Basel III.

To successfully hire in-demand skill sets,companies should consider streamlining therecruitment process and identify areas ofbusiness where they feel Black EconomicEmpowerment targets are achievable.Competition for top performers will be highand Employment Equity candidates willcontinue to be especially hard to source.

Employers are advised to offer competitivepackages, retention plans and clear

career paths to ensure their top talent remainsin the business.

Across the banking and finance sector, theaverage salary increase for non-movers wasbetween 4-8% and 13-18% for job-movers- we expect this to continue in 2015. Marketconditions and recruitment will be very muchlinked to global conditions - an increase ingrowth should result in increased hiring levels.

KEY TRENDSAcross the sector, average salary increases for non-movers was between4-8% and 13-18% for job-movers.

Chartered accountants with extra skills and qualifications like CFA and CFPwill be in high demand.

Companies are looking to hire experienced employees with localknowledge who can make an immediate impact and ‘hit the groundrunning'.

With a limited talent pool risk, actuaries and compliance professionals willbe in high demand.

“A number ofinvestment banksexpanded intoAfrica, resulting inan increased demandfor specialistbanking andfinancialprofessionals.

S

SOUTH AFRICA BANKING & FINANCIAL SERVICES

Robert Walters Global Salary Survey 2015 492

ROLE PERMANENT SALARY PER ANNUM ZAR (R)

2014 2015

Investment Banking & Financial Services

Corporate Finance CA (3 - 5 yrs’ exp) 750k - 1.1m 750k - 1.1m

Corporate Finance CA (1 - 3 yrs’ exp) 550 - 750k 575 - 775k

Operations Manager 500k+ 600k+

Product Controller (CA/CIMA + 2 - 5 yrs' exp) 625 - 875k 650 - 900k

Product Controller (2 - 5 yrs’ part-qualified) 450 - 650k 400 - 650k

Senior Strategy Analyst Engineer + CFA/MBA (5+ yrs' exp) 800k+ 900k

Strategy Analyst Engineer + CFA/MBA 450 - 800k

Private Banking Executive (3+ yrs' exp) 350 - 475k 300 - 450k

Accountancy/Audit/Tax/Treasury

Qualified CA (3 - 5 yrs’ exp) 700 - 925k 650 - 950k

Qualified CA (1 - 3 yrs’ exp) 550 - 700k 550 - 650k

Recently-Qualified CA 500 - 600k 500 - 615k

Management Accountant CIMA + Training (3 - 4 yrs’ exp) 400 - 600k 500 - 600k

Accountant - Hons Degree + Articles 350 - 450k 350 - 450k

Senior Finance

Business Unit CFO - Investment Banking 1.2m+ 1.3m+

Business Unit CFO - Financial Services/Private Banking 800k+ 1m+

Research Analyst CA (3 - 5 yrs’ research + CFA exp) 700k - 1.2m 750k - 1.1m

Research Analyst CA (1 - 3 yrs’ research + CFA exp) 525 - 750k 500 - 750k

Compliance

Global Markets (8+ yrs' exp) 1.2m+ 1.1 - 1.5m

Investment & Wealth Management (8+ yrs' exp) 900k+ 900k

AML/Surveillance/Control Room (8+ yrs' exp) 900k+ 800k

Global Markets (5 - 8+ yrs' exp) 600k - 1.2m 900k - 1.1k

Investment & Wealth Management (5 - 8 yrs' exp) 500 - 900k 600 - 900k

AML/Surveillance/Control Room (5 - 8+ yrs' exp) 500 - 900k 500 - 800k

Global Markets (1 - 4 yrs' exp) 400 - 600k 400 - 800k

Investment & Wealth Management (1 - 4 yrs' exp) 300 - 500k 350 - 750k

AML/Surveillance/Control Room (1 - 4 yrs' exp) 250 - 500k 300 - 500kNB: These figures are cost to company excluding bonuses.

4 0 - 5 800k

SOUTH AFRICA ENGINEERING & NATURAL RESOURCES

Robert Walters Global Salary Survey 2015493

South Africa enjoyed a notable improvementin the recruitment market across engineeringand natural resources in 2014 - despite alack of key talent and a series of economicchallenges in the region.

The ongoing mining and engineering strikesimpacted hiring levels and although somecompanies experienced difficulties, their plansto expand into Africa were largely unaffected.The demand for specialist skills in the regionas a whole continued to develop, withtechnical engineers and sales professionalsacross manufacturing, oil and gas, power andconstruction in shortest supply.

Facilitating growth, along with continued

streamlining of costs, will be key to businesssuccess in 2015. Employers will look to takeon graduates such as process engineers andmechanical engineers to assist with businessexpansion projects. Senior professionals withstrong industry experience will also be highlysought-after.

We expect hiring managers will howeverstruggle to recruit senior staff with top levelexperience, especially electrical engineersand project managers. This will be particularlytrue for oil and gas, renewable energy andconstruction.

Salaries increased across the board in 2014.Despite the increases in line with inflation,

we anticipate companies will remainbudget conscious in 2015. Therefore, hiringmanagers should expect to pay conservativeincreases of around 5-15%.

“As companies expandinto Africa thedemand for technicalskills willcontinue.

ROLE PERMANENT SALARY PER ANNUM ZAR (R)

2014 2015

General Manager 900k - 1.5m 1.0 - 1.7m

Engineering Manager 850k - 1.4m 900k - 1.6m

Project Manager 750k - 1.3m 850k - 1.5m

Structural Engineer 800k - 1.2m 900k - 1.3m

Mine Planning Engineer 700 - 900k 800k - 1.1m

Mechanical Engineer 650 - 950k 700k - 1.1m

Sales/Business Development Manager 620 - 900k 650 - 950k

Construction Manager 580 - 880k 600 - 950k

Process Engineer 520 - 800k 550 - 850k

Estimator/Cost Engineer 500 - 720k 550 - 750k

SHEQ Manager 600 - 750k 650 - 850k

Supply Chain Manager 650 - 850k 700 - 900k

Civil Engineer (BSc) 450 - 650k 500 - 700k

Electrical/Controls Engineer 480 - 680k 500 - 720k

Production Manager 500 - 700k 500 - 750kNB: These figures are cost to company excluding bonuses, based on a professional with 5 - 8 years' experience and can vary depending on industry sector.

SOUTH AFRICA HUMAN RESOURCES

Robert Walters Global Salary Survey 2015 494

HR vacancies increased steadily during 2014as firms continued to improve processesand implement change. Many organisationsrestructured which kept HR departmentsespecially busy. The most sought-after rolesincluded HR business partners, administrationconsultants and specialists.

Performance management specialists andorganisational effectiveness consultants,were in demand during the second half ofthe year - businesses were looking for truebusiness partners to work alongside seniormanagement, helping to improve profit or cutcosts.

Companies also favoured experiencedHR professionals who could demonstratecommitment and make an immediatecontribution to strategic goals. Industryexperience and knowledge were thereforehighly sought-after, as were strongqualifications, including Honours and Mastersdegrees.

We also expect specialist roles likeorganisational development, organisationaleffectiveness and talent management tocontinue to be in demand as businessesfocus on developing and retaining top-qualityprofessionals for the long-term (particularly

Employment Equity candidates).

We therefore expect a shortfall of experiencedHR professionals who have relevant industryknowledge in 2015. The HR market isincredibly competitive and organisationswill need to develop quick and efficientrecruitment processes to attract the besttalent. They may also need to be flexible withsearch criteria to find suitable applicants.

ROLE PERMANENT SALARY PER ANNUM ZAR (R)

2014 2015

HR Specialist

Industrial/Employee Relations Manager 400 - 700k 450 - 750k

Remuneration & Benefits Consultant 400 - 700k 450 - 750k

Organisational Development Manager 600 - 900k 660k - 1.0m

Change Manager 550 - 750k 600 - 820k

Learning & Development Manager 550 - 800k 600 - 900k

Recruitment Manager 550 - 750k 600 - 820k

Recruitment Officer 180 - 300k 200 - 330k

BEE Advisor 350 - 650k 400 - 720k

Talent Manager 550 - 900k 600k - 1.0m

Payroll Manager 600 - 900k 650k - 1.0m

HR Generalist

HR Director 900k - 1.3m 1.0 - 1.4m

HR Manager 550 - 850k 600 - 950k

HR Business Partner 400 - 700k 450 - 800k

HR Consultant 320 - 500k 350 - 600k

HR Officer/Co-ordinator 180 - 300k 200 - 350kNB: These figures are cost to company excluding bonuses.

SOUTH AFRICA LEGAL

Robert Walters Global Salary Survey 2015495

There was renewed confidence in SouthAfrica’s recruitment market during 2014 whichled to increased demand for legal candidates.Hiring activity was strongest in legal firmslooking to consolidate their presence in Africa,as well as companies hiring for growth.

Demand in legal firms centered on keyareas including competition, employment,engineering and construction, propertyand real estate, as well as mergers andacquisitions. An increase in controlsand regulation also fuelled the need forcompliance and regulatory professionals.

A driving force in legal recruitment during2014 was international law firms basing theirregional head offices in South Africa - asthey aimed to gain a foothold in sub-SaharanAfrica. As a result, we found that experiencedlegal advisors and counsel have becomeincreasingly hard to attract, requiring lawfirms to offer more competitive packages tocompensate for the supply shortfall.

This trend looks set to continue in 2015at all levels of legal recruitment. The mostsought-after candidates will be those withindustry-specific experience, helping toreduce the time it takes to start contributing toa business, as well as saving costs in the longrun.

We believe Employment Equity professionalsin particular will be highly sought-after in2015. Consequently, organisations will needto act fast and pay a premium to secure thebest candidates. Hiring managers may alsohave to become more open-minded aboutfinding the ‘perfect fit’ candidate - employersare advised to consider people from differentindustries or with less experience to widentheir choice.

Salary levels remained stable in 2014 and weexpect this to increase in line with inflationduring 2015. We also anticipate salarieswill be higher for the more sought-aftercandidates, like Employment Equity

professionals with specialised skill sets.Companies are advised to ensure theirsalaries and packages are in line with themarket to remain competitive and to attractand retain the best staff.

KEY TRENDSRecruitment activity was strongest in South African-based legal firmslooking to expand their presence into Africa.

Experienced job-movers can expect pay rises of between 10-15% in 2015.

Market conditions will remain stable with a continued demand for core legalprofessionals like legal advisors, counsel and head of legal.

Employment Equity candidates will remain in demand and firms will need tobe prepared to pay a premium to secure top talent.

“More internationallaw firms basedtheir regional headoffices in SouthAfrica during 2014,driving demand forlegal specialists.

SOUTH AFRICA LEGAL

Robert Walters Global Salary Survey 2015 496

ROLE PERMANENT SALARY PER ANNUM ZAR (R)

2014 2015

Legal In-house - Commerce & Industry

10+ yrs' PQE 1.1m+ 1.3m+

6 - 10 yrs' PQE 800k - 1.1m 900k - 1.3m

3 - 6 yrs' PQE 570 - 800k 650 - 900k

1 - 3 yrs' PQE 350 - 570k 420 - 650k

Legal In-house - Financial Services

10+ yrs' PQE 1.2m+ 1.35m+

6 - 10 yrs' PQE 850k - 1.2m 920k - 1.35m

3 - 6 yrs' PQE 600 - 850k 660 - 920k

1 - 3 yrs' PQE 400 - 600k 450 - 660k

Legal Private Practice

Equity Partner (10+ yrs' PQE) 1.25m+ 1.4m+

Partner (6 - 10 yrs' PQE) 900k - 1.2m 1.0 - 1.4m

Senior Associate (3 - 6 yrs' PQE) 550 - 900k 620k - 1.0m

Associate (1 - 3 yrs' PQE) 350 - 550k 400 - 620k

NB: These figures are cost to company excluding bonuses.