REMUNERATION FOR graduates with a financial background sometimes borders on the absurd, businessweek.com says in a recent report on the remuneration of senior employees. In New York, for example, the financial services industry accounts for 5% of the jobs, but for 20% of the total remuneration.
One of these excesses was financial services group Goldman Sachs’ recent record bonus payment, in which everyone from the secretaries to the most senior staff shared. It’s especially the bonus to CEO Lloyd Blankfein, which totalled an astounding $53m (about R380m) that took away the breath of ordinary salaried workers.
In the February issue of Asa, the trade publication of the SA Institute of Chartered Accountants (Saica), remuneration is reported to vary from a modest R450 000 to R575 000 plus bonuses and shares a year for newly qualified CAs, to R1m plus fringe benefits for financial heads.
If you’re prepared to work in Eastern Europe, Russia or Central Asia as a senior auditing partner for one of the four major auditing firms, you could earn as much as US$300 000 (about R2,2m) a year, and also “enjoy the opportunity for rapid progress and even better remuneration”.
On one of the other pages, personnel group antonapps advertises that it has vacancies for more than 30 senior posts in the financial field with several Top 20 listed companies in SA.