As we ease into 2019 and look back on 2018, we get the opportunity to assess the year gone by. 2018 was marked by political turbulence and financial scandals, which affected the economic climate. Whether this will continue to have financial repercussions for this coming year is yet to be seen, but for now, we can reflect on the world of work in 2018 and how employees were compensated. Salary bands can often reveal the financial environments of different industries, offering employees the chance to measure up their compensation against others in their industry as well against that of employees in other sectors.
As markets fluctuate and the world experiences economic strain, it may be valuable to assess the salary band of the industry that you’ve chosen. These three industries below offered employees the highest salary bands in 2018.
Architecture and Engineering
The architecture and engineering field encompasses jobs like mechanical engineering, engineering drafters and architecture. This industry has starting salaries from R16 181, for the position of engineering draughtsman. Environmental engineers, at the other end, can earn R75 941 per month. Junior and intermediate positions could potentially have amassed monthly salaries of up to R52 969.
Finance is a well-paying industry, raking in R68 281 per month for a senior financial management role and R14 305 for the lowest paid position, that of bookkeeping. In this industry, one can work in sectors like Chartered Accounting, Internal Auditing, Project Accounting, Cost & Management Accounting or Purchasing & Procurement. Senior positions can pay between R18 242 per month and R68 281. More junior positions could expect up to R51 438 per month as the highest salary for an intermediate position in this industry .
The IT industry is a relatively young field, but one which has nevertheless created high-paying positions. Information Technology demonstrated some of the highest salaries for starting salaries, and junior and intermediate employees could expect to earn from R27 667 for a job in Systems and Network administration. The highest paid position was that of senior IT managers, who could earn up to R68 281 per month.
These averages serve as an insightful look into the remuneration that employees can expect in different industries, as well as offering keen insight into the sectors that are in demand. It may also be important to note that average salaries often differ based on regions- In South Africa, positions in Gauteng tend to be the most well-paid, followed by positions in the Western Cape and Kwazulu-Natal.
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