Top 10 Highest Paying Companies In South Africa (2024)

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The highest paying companies in South Africa are a solid reminder of the depth and strength of the South African economy. the country is a center for the trade in precious metals, fashion, media, banking and financial services, as well as tourism to name a few.

As the most important country in Africa, this is the place where people look for signs of economic growth or recession on the continent. The highest wages in the country are therefore a matter of interest not only to south Africans but to the world at large.

Top 10 Highest Paying Companies In South Africa

1. ABSA Group

ABSA is one of the biggest brands in South Africa, and at the same time one of the best known South African entities outside South Africa. ABSA is more than a bank, it is a financial giant, with operations in several countries.

ABSA has a strong foothold in South Africa, Botswana, Kenya, Mauritius, Mozambique, Seychelles, Tanzania, Uganda, Zambia, and Ghana. The company also has offices in Nigeria, New York, and London.

ABSA Group is the highest paying company in South Africa; if any company in the country is likely to produce millionaires it is this one. Furthermore, this is a place where skills and talents are appreciated, and where there is plenty of opportunity to climb the corporate ladder.

To make it even more interesting, people who work in ABSA will be exposed to many investment opportunities so as to secure their future, and to create wealth for future generations. ABSA Group also gives one the opportunity to make high quality connections with clients and customers.

2. Ernst & Young (EY)

Ernst & Young is also into finance, but in a different way. This is a financial accounting company- one of the biggest in the world. It should therefore not be a surprise that it is a company that pays its employees very well, and also provides opportunities for them to climb the corporate ladder.

In South Africa, this is one of the biggest names when it comes to corporate accounting, auditing, actuary services, supervisory services, and tax related matters.

Ernst & Young is a top place for talented people, especially those in the fields of Tax accounting, auditing, and investor relations. The company also pays its physical supervisors very well.

3. FNB South Africa

FNB South Africa is another financial giant; it is part of the FirstRand Group which is one of the dominant players in South Africa, and also significant on the continent. FNB has operations in Botswana, Mozambique, Namibia, South Africa, Eswatini, Tanzania, Zambia, Ghana, India, Lesotho and Guernsey.

The company provides banking and financial services to individuals and businesses, and it also uses a lot of technology to make this possible. This is where the job opportunities come in; the company pays well so as to retain the best talents.

FNB’s biggest earners are Bankers, Software Engineers, Business Development Strategists, and Customer Care Agents. This is one of the biggest financial services groups in South Africa, and also one of the biggest employers in the country.

4. KPMG

KPMG is an international accounting and auditing company. This is a Dutch international company and has been in existence via merger since 1987. This company is huge; it has operations in 145 countries with over 265,000 employees.

Working in KPMG offers several benefits; this is one of SA’s bigger payers. KPMG is one of those companies that sets the pace for others to follow when it comes to talent retention; and the only way to retain talent is to pay them well.

Some of the biggest earners in this company include accountants, supervisors, tax consultants, business development consultants, software developers, software engineers, and account managers.

5. Sasol

Sasol is one of South Africa’s most viable companies. It is a place where a person can work without worrying about his future. This is an integrated energy and chemicals company which was established back in 1950.

Sasol is a company with a solid base; since the 1970’s it has been in the business of developing technology to improve its chemicals and energy businesses. This company has plenty of research which is yet to come out, and which is the core of its value for the future.

Sasol is engaged in the production of energy, oil and gas, chemicals and coal tar. Some of the highest earners in the company include engineers, foremen, operations managers, information technology professionals, and business development managers.

The company is also a big employer; it contributes over 30,000 jobs to the South African economy.

6. Mukuru

Mukuru is a money remittance business that is headquartered in South Africa, and that has operations in several countries across the continent. The business is a cross between a money sending app, and the old school system of having physical locations and banks.

As Mukuru continues to grow, it may well become a full fledged bank; offering other financial services, beyond just sending and receiving money.

Already, this company knows the value of retaining talent; it is one of the highest paying corporations in the country, with a core focus on bringing in and retaining the best software engineers, business development managers, and customer services experts.

7. Deloitte

Deloitte is yet another financial accounting company in South Africa. This company has its roots in a multinational accounting firm which is headquartered in London, founded in 1845, and operational in almost every country in the world.

As one of the biggest auditing and financial accounting companies in South Africa, Deloitte recognizes the importance of retaining its best talent, which is why most of its professionals retire wealthy.

Deloitte is always looking for talented persons in the field of tax law, tax accounting and auditing. The firm also offers advisory services; so it will also need business development managers, as well as customer relations professionals.

8. Capitec

Capitec is the third largest, and fastest growing banking institution in South Africa. This bank’s core market is the emerging middle class; and it provides financial services, including retail banking, and investments to its customers.

Capitec’s dramatic growth over the last few years has been fuelled by extensive investments in technology, the bank has rolled out intuitive e-banking service products.

In order to continue its rapid expansion, Capitec needs to attract and retain top talent. Capitec staff are some of the highest earners in the country; especially those in the fields of Commercial banking, business development, customer relations, artificial intelligence (AI) and software development.

This a great place to work because there are plenty of opportunities for the future. This one of South Africa’s best employers.

9. Vodacom

Vodacom is a communications giant; it is partly owned by South Africans, and also by the British. This is a top mobile communications brand; from its roots in South Africa it has spread to Tanzania, the Democratic Republic of the Congo, Mozambique, and Lesotho, Nigeria, Angola, Zambia, Kenya, Ghana, Côte d’Ivoire, and Cameroon.

Even now, Vodacom is continuing its expansion drive, which means it needs more hands. It pays well, so it is among the most attractive companies to work in South Africa, especially for business development managers, sales consultants, customer relations managers, engineers, software developers, and so on.

This company regularly looks inwards to fill vacant positions; which means there will be promotions for workers who show passion and competence in their duties.

10. MTN

MTN is one of the best known South African brands outside South Africa. It is a multinational mobile communications business, and is also a multi billion dollar enterprise. This is a publicly listed company, and was established in 1994.

Some of the countries where MTN is operational include: Ghana, Nigeria, Yemen, Iran, Syria, and Afghanistan. MTN also has a very lucrative branch which deals on mobile money. That branch alone is worth at least 5 billion dollars.

With such an extensive and viable business, it should come as no surprise that MTN is such a lucrative place to work. Some of the highest earners at the company include business development managers, software engineers, and customer care professionals.

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Closing

The highest paying companies in South Africa have mostly expanded their scope of operations; most of them have business outside the country just as they have within. Having become so successful, they have also established a culture of taking care of their workers because the workers are the biggest assets any company has.