Finweek English Edition - - Economic trends & analysis - JO­HANN VAN ZYL

RE­MU­NER­A­TION FOR grad­u­ates with a fi­nan­cial back­ground some­times borders on the ab­surd, busi­ 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.

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