BANKING & FINANCE
A career in finance or banking covers a wide spectrum of jobs that help homes, businesses and the economy tick.
ACCOUNTANT
The traditional role of an accountant is to prepare financial statements for a business.
No specific qualification is needed to call yourself an accountant, but an accredited professional accountant (PA) – meaning one who has completed the South African Institute of Professional Accountants’ professional evaluation exam – is also a business adviser who’s involved in running a business, interpreting financial reports and coming up with solutions by taking part in strategic planning.
A chartered accountant (CA) can do more than a professional accountant. A CA can audit companies, which a professional accountant can’t, for example, and follows a different course of study.
››EDUCATIONAL REQUIREMENTS
You’ll need matric maths. Accounting, economics or business studies aren’t always essential but university requirements may vary.
A PA needs a Bachelor of Commerce degree or equivalent. To become a registered PA, you’ll also need a three-year learnership at an accredited training centre or have completed six years of verifiable experience, and you’ll have to take the SA Institute of Professional Accountants’ professional evaluation exam.
A CA needs a Bachelor of Accounting Sciences in financial accounting and must pass South African Institute of Chartered Accounting (SAICA) exams.
››STARTING SALARY
R240 000 a year
FUND MANAGER
Fund managers can work for private and corporate clients, providing financial advice and services about investments.
A fund manager also manages an investment fund’s strategy and trading activities, oversees mutual funds or pensions, manages analysts, conducts research and makes investment decisions.
››EDUCATIONAL REQUIREMENTS
You’ll need matric mathematics. Accounting, economics or business studies aren’t always essential but university requirements may vary.
A degree, such as a Bachelor of Commerce or Accounting, or a diploma in cost and management accounting is essential. Additional qualifications in the fields of business studies, management, statistics, finance, mathematics or economics can be helpful, as can a master’s of business administration degree or a similar qualification.
Graduates typically enter the industry as investment analysts and move over to fund manager roles as they gain experience.
››STARTING SALARY
R553 000 a year
INTERNAL AUDITOR
In this role you’ll give independent and objective evaluations of a company’s financial and operational activities to ensure it’s following proper procedures and functioning at its best.
The duties, among others, are to check that financial reports and records are accurate and reliable; to ensure that assets are safeguarded; to identify and advise on problem areas; and to prepare reports, commentaries and financial statements.
››EDUCATIONAL REQUIREMENTS
You’ll need matric maths. Accounting, economics or business studies aren’t always essential but university requirements may vary.
To start you’ll need a BCom Accounting degree, or a national diploma in internal auditing, but additional qualifications will also be needed depending on the nature of the work. These may include finance, business, marketing, engineering, IT and cybersecurity.
After getting a degree or diploma you’ll have to complete the Institute of Internal Auditors South Africa’s training programme, take a competency test and become a member of the institute.
››STARTING SALARY
R309 900 a year
INSURANCE UNDERWRITER
You’ll typically work for an insurance company where you’ll assess risks, analyse payments and premiums related to those risks, and decide if a business or entity should be insured.
Apart from wanting their underwriters to be able to think analytically, most companies want them to help build the business by finding potential new customers and opportunities.
››EDUCATIONAL REQUIREMENTS
You’ll need to have matric maths. Accounting, economics or business studies aren’t always essential but university requirements may vary.
There are several bachelor’s degree choices: in finance or accounting, or in law, economics, business science or business administration. Your employer will require you to undergo company or field-specific training and certification, and you’ll probably start out as an associate underwriter.
››STARTING SALARY
R198 000 a year
CHIEF FINANCIAL OFFICER
This is the senior executive in a company whose job it is to manage the company’s financial actions. This person will direct a company’s financial goals, objectives and budgets; oversee the investment of company funds; track cash flow and financial planning; analyse the company’s financial strengths and weaknesses and propose solutions to problems.
››EDUCATIONAL REQUIREMENTS
You’ll need to have matric mathematics. Accounting, economics or business studies are not always essential but requirements may vary at universities for BCom studies.
Depending on your employer, it’s possible to be a CFO even if you’re not a qualified chartered accountant. But it’s essential to have a master’s degree in business administration or another advanced degree in public accounting, finance, economics, business or a related subject. You’ll also need a strong business sense and an understanding of technology.
››STARTING SALARY
R825 000 a year
ESTATE AGENT
This job is to sell commercial and residential property for clients, using knowledge of the local market to get the best price. You can be self-employed or work for estate agencies or banks.
››EDUCATIONAL REQUIREMENTS
If you plan to study for a degree, you’ll need to have
obtained above 60% in matric English and maths.
A degree is not essential. But studying for a degree in an appropriate field, such as business, marketing or a Bachelor of Science in property studies, will be an advantage.
Estate agents and agencies are required by law to obtain a Fidelity Fund certificate from the Estate Agency Affairs Board, by writing the board examination after graduating or after working as an intern under the supervision of a principal agent. Qualified estate agents must register with theboard.
››STARTING SALARY
R287 000 a year
COMPANY SECRETARY
This role has been likened to a presidential chief of staff – the person who controls access to the president. A company secretary fulfils a similar role for the chairman of the board – the person is responsible for ensuring that an organisation complies with standard financial and legal practice and maintains high standards of corporate governance.
Public companies are legally required to have one and private companies and nonprofit organisations also offer the position.
››EDUCATIONAL REQUIREMENTS
English and maths are essential matric subjects.
In theory, it’s possible to become a company secretary without a formal tertiary qualification, but companies prefer graduates with degrees or diplomas in economics, management, law, business studies or mathematics.
››STARTING SALARY
R1,17 million a year