SOUTH AFRICA. It was a relatively good year for recruitment in South Africa.

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SOUTH AFRICA

It 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.

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A

lthough 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

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 AFRICA

COUNTRY OVERVIEW

10-15% salary increases

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SOUTH AFRICA

ACCOUNTING & FINANCE

Robert Walters Global Salary Survey 2015 489

Improved business confidence and a desire to expand across Africa during 2014 created an increase in accountancy vacancies within commerce and industry. There was demand for experienced industry professionals at all levels as companies sought to hire candidates who could make an immediate impact on their business.

The ongoing market uncertainty in sectors like mining, steel and telecoms forced hiring managers to look for professionals with commercial, analysis and planning skills as businesses continued to drive and measure their performance closely and manage their costs more effectively.

With increased investment opportunities across Africa, companies will require accounting and finance professionals who have regional or local experience. Language skills, like French and Portuguese, will be highly desirable as well as a willingness to

travel to sub-Saharan Africa. Employment Equity professionals with sound industry knowledge will also be highly sought-after in 2015. Businesses are looking to hire specialists with at least three to five years’ experience.

Salaries in 2014 did increase but only between 2-7%. However, we saw organisations offer up to 10% increments for Employment Equity professionals, as well as other candidates in high demand. These included accounting and finance professionals with industry experience - this trend is expected to continue in 2015. To secure these in-demand candidates, hiring managers will need streamlined recruitment processes, creating a positive impression from the start of the process.

Overall, hiring activity is expected to increase in 2015 as multinationals look to grow into Africa, especially sub-Saharan Africa.

KEY TRENDS

Salaries increased in 2014 between 2-7%, although in-demand

professionals could command a 10% increase.

Financial analysts and commercial and financial managers with at least two

to three years’ experience were highly sought-after in 2014.

Due to changes in Black Economic Empowerment regulations, there is a

need for businesses to hire candidates across all levels of seniority.

“

Soaring investment

levels across Africa

mean that in 2015,

companies will look

for accounting and

finance

professionals with

regional experience.

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SOUTH AFRICA

ACCOUNTING & FINANCE

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

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SOUTH AFRICA

BANKING & FINANCIAL SERVICES

The financial services recruitment market grew during 2014 - driven mainly by international organisations with a presence in South Africa expanding into ub-Saharan Africa. A number of investment banks looked to grow their footprint in Africa, which resulted in increased headcount and demand for specialist banking and financial professionals with specific product, sector and skills.

Hiring managers looked for candidates with local experience, as well as focusing on those with specialist market knowledge. This included seasoned professionals who could make an immediate impact, such as chartered accountants with extra skills like chartered financial analyst (CFA), certified financial planning (CFP), Johannesburg Stock Exchange (JSE) settlements and compliance officer qualifications. Employers were also seeking experienced professionals able to make an immediate impact on the business. As more banks look to expand into

Sub-Saharan Africa, we believe banking and finance professionals with international experience will continue to be highly sought-after in 2015.

We expect to see a shortage of risk professionals with specialist industry or product-orientated skills in 2015. Risk specialists will continue to be a key hire as firms look for staff that can implement policies related to newly-enacted regulations, like anti-money-laundering and Basel III.

To successfully hire in-demand skill sets, companies should consider streamlining the recruitment process and identify areas of business where they feel Black Economic Empowerment targets are achievable. Competition for top performers will be high and Employment Equity candidates will continue to be especially hard to source. Employers are advised to offer competitive packages, retention plans and clear

career paths to ensure their top talent remains in the business.

Across the banking and finance sector, the average salary increase for non-movers was between 4-8% and 13-18% for job-movers - we expect this to continue in 2015. Market conditions and recruitment will be very much linked to global conditions - an increase in growth should result in increased hiring levels.

KEY TRENDS

Across the sector, average salary increases for non-movers was between

4-8% and 13-18% for job-movers.

Chartered accountants with extra skills and qualifications like CFA and CFP

will be in high demand.

Companies are looking to hire experienced employees with local

knowledge who can make an immediate impact and ‘hit the ground

running'.

With a limited talent pool risk, actuaries and compliance professionals will

be in high demand.

“

A number of

investment banks

expanded into

Africa, resulting in

an increased demand

for specialist

banking and

financial

professionals.

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SOUTH AFRICA

BANKING & FINANCIAL SERVICES

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 4 0 - 5 800k

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SOUTH AFRICA

ENGINEERING & NATURAL RESOURCES

South Africa enjoyed a notable improvement in the recruitment market across engineering and natural resources in 2014 - despite a lack of key talent and a series of economic challenges in the region.

The ongoing mining and engineering strikes impacted hiring levels and although some companies experienced difficulties, their plans to expand into Africa were largely unaffected. The demand for specialist skills in the region as a whole continued to develop, with technical engineers and sales professionals across manufacturing, oil and gas, power and construction in shortest supply.

Facilitating growth, along with continued

streamlining of costs, will be key to business success in 2015. Employers will look to take on graduates such as process engineers and mechanical engineers to assist with business expansion projects. Senior professionals with strong industry experience will also be highly sought-after.

We expect hiring managers will however struggle to recruit senior staff with top level experience, especially electrical engineers and project managers. This will be particularly true for oil and gas, renewable energy and construction.

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

we anticipate companies will remain budget conscious in 2015. Therefore, hiring managers should expect to pay conservative increases of around 5-15%.

“

As companies expand

into Africa the

demand for technical

skills will

continue.

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 - 750k

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SOUTH AFRICA

HUMAN RESOURCES

HR vacancies increased steadily during 2014 as firms continued to improve processes and implement change. Many organisations restructured which kept HR departments especially busy. The most sought-after roles included HR business partners, administration consultants and specialists.

Performance management specialists and organisational effectiveness consultants, were in demand during the second half of the year - businesses were looking for true business partners to work alongside senior management, helping to improve profit or cut costs.

Companies also favoured experienced HR professionals who could demonstrate commitment and make an immediate contribution to strategic goals. Industry experience and knowledge were therefore highly sought-after, as were strong

qualifications, including Honours and Masters degrees.

We also expect specialist roles like organisational development, organisational effectiveness and talent management to continue to be in demand as businesses focus on developing and retaining top-quality professionals for the long-term (particularly

Employment Equity candidates).

We therefore expect a shortfall of experienced HR professionals who have relevant industry knowledge in 2015. The HR market is incredibly competitive and organisations will need to develop quick and efficient recruitment processes to attract the best talent. They may also need to be flexible with search criteria to find suitable applicants.

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

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SOUTH AFRICA

LEGAL

There was renewed confidence in South Africa’s recruitment market during 2014 which led to increased demand for legal candidates. Hiring activity was strongest in legal firms looking to consolidate their presence in Africa, as well as companies hiring for growth. Demand in legal firms centered on key areas including competition, employment, engineering and construction, property and real estate, as well as mergers and acquisitions. An increase in controls and regulation also fuelled the need for compliance and regulatory professionals. A driving force in legal recruitment during 2014 was international law firms basing their regional head offices in South Africa - as they aimed to gain a foothold in sub-Saharan Africa. As a result, we found that experienced legal advisors and counsel have become increasingly hard to attract, requiring law firms to offer more competitive packages to compensate for the supply shortfall.

This trend looks set to continue in 2015 at all levels of legal recruitment. The most sought-after candidates will be those with industry-specific experience, helping to reduce the time it takes to start contributing to a business, as well as saving costs in the long run.

We believe Employment Equity professionals in particular will be highly sought-after in 2015. Consequently, organisations will need to act fast and pay a premium to secure the best candidates. Hiring managers may also have to become more open-minded about finding the ‘perfect fit’ candidate - employers are advised to consider people from different industries or with less experience to widen their choice.

Salary levels remained stable in 2014 and we expect this to increase in line with inflation during 2015. We also anticipate salaries will be higher for the more sought-after candidates, like Employment Equity

professionals with specialised skill sets. Companies are advised to ensure their salaries and packages are in line with the market to remain competitive and to attract and retain the best staff.

KEY TRENDS

Recruitment activity was strongest in South African-based legal firms

looking 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 legal

professionals like legal advisors, counsel and head of legal.

Employment Equity candidates will remain in demand and firms will need to

be prepared to pay a premium to secure top talent.

“

More international

law firms based

their regional head

offices in South

Africa during 2014,

driving demand for

legal specialists.

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SOUTH AFRICA

LEGAL

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