US Accountants’ Pay Jumps Up – How Does South Africa Compare?
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The 2025 Accounting Today Salary Survey shows US entry-level accountants have seen one of the biggest pay rises in years — median starting salaries are up $10,000 (±R185,000) from 2024, putting new accountants at around $75,000 (±R1.39 million) per year.
The boost is part of a push to fix the profession’s talent pipeline, as firms compete with finance, tech, and other sectors for graduates. Even small-firm partners in the US saw large jumps, with medians around $155,000 (±R2.87 million).
South African reality check
While the US numbers are eye-watering, local figures are more modest. According to Payscale and Michael Page:
Entry-level accountants: R200k–R300k p.a.
Mid-level: R350k–R500k p.a.
Senior: R500k–R700k p.a.
Financial managers: R650k–R900k p.a.
Large-firm partners/directors: R1.2 million+ p.a., with equity partners at the top end earning several million. Small accounting firm partners can earn slightly less, averaging between R700k and R1.2 Million.
The gap is clear
A US staff accountant may earn more than a South African partner in a smaller firm. But local cost-of-living differences and firm sizes play a big role. The factors that may explain the gap between US and South African accounting pay include:
Economic scale – The US economy and client base are larger and more profitable, supporting higher billing rates.
Talent shortage – Severe US accountant shortages push firms to offer higher salaries to attract and keep staff.
Currency strength – The stronger US dollar inflates nominal differences when converted to rand.
Cost of living – Salaries reflect higher living costs in US cities, especially major financial hubs.
Firm profitability – Larger engagements and higher-value advisory work in the US mean more funds available for compensation.
In conclusion
The gap between US and South African accounting pay, especially at partner level in small firms, is stark. In the US, small-firm partners often clear close to R3 million a year, while in South Africa many earn less than half of that. This isn’t just about currency differences, it’s about market size, billing potential, and talent scarcity. With global remote work making cross-border recruitment easier than ever, South African firms will need to rethink their value proposition, not just to clients, but to the next generation of accountants they hope to attract and retain.
With global competition for talent and remote work erasing borders, can South African employers afford not to rethink their pay structures?
