Specialists, EE pros in demand

SALARIES: TOP PERFORMERS GET THE MONEY

Rise of 10%-15% in pay cheques of sought-after professionals, survey shows.

Robert Walters’ annual Salary Survey shows salaries across SA will see modest rises in line with inflation around 7%. However, top-performing professionals with highly sought-after skills can expect to see rises of 10%-15%.

We expect that organisations will take a careful approach to growth and hiring strategies. Professionals with a combination of strong technical skills and industry experience will remain sought after in the private sector.

Top performers will continue to be looked after and can expect a salary increase ranging between 10-15%; other professionals can expect inflationary increases of around 7%.

With competition for professionals extremely high, securing top talent will require employers to operate swift hiring processes, as well as offering clearly defined career paths and opportunities to satisfy the needs of employees seeking both reassurance and variety.

Demand for top previously disadvantaged talent resulted in salary increases of 15%-20% in 2018. Specialists with high levels of technical financial competency, industry knowledge and expertise in data, AI and BI were also able to command premiums.

Regulatory demands that came with International Financial Reporting Standards, meant demand was high for strong technical accountants, but there was an acute candidate shortage.

The banking industry became increasingly competitive as we saw the introduction of new disruptive players in the market. Candidates who can demonstrate value-add, such as process optimisation, high-level understanding of technology, systems expertise and stakeholder engagement, were highly sought after.

Private law practice was the most active in hiring, with many top-tier international and “Big 7” local law firms recruiting for various teams and practice areas. Hiring levels were especially prominent within transactional practice areas, followed by general commercial litigation and dispute resolution. The drive for toptier candidates in private practice will likely continue in 2019.

Nic Sephton-Poultney is managing director of Robert Walters SA