The average Vice President salary in South Africa is R57,800.00 per month. Corporate Vice Presidents work in various departments of a company to ensure that employees are well-optimized in order to increase the output of the company.
A bonus is included in the income of a Vice President. In South Africa, a Corporate Vice President’s annual bonus ranges from R20,000.00 to R1 million. This amounts to an average annual bonus of R163,215.00 for a Vice President (Salary Expert).
In South Africa, the majority of Corporate Vice Presidents receive a bonus. According to Salary Explorer, 79% of South African Vice Presidents received a bonus in 2021, while 21% did not.
Vice Presidents are paid commissions in addition to bonuses. According to Payscale, the annual commission for Vice Presidents ranges from R0.00 to R370,000.00. Bonuses and commissions account for 6% to 16% of a Vice President’s annual salary.
A Vice President’s income usually consists of bonuses, commissions, and salary. There are several factors that influence a Vice President’s salary, which we will discuss below.
Factors that influence the salary of a Vice President in South Africa
Education
Vice Presidents earn some of the highest salaries in any South African company, and their level of education plays a role. Those with a high school certificate earn the least in South Africa, earning R41,100.00 per month.
Vice Presidents with a national diploma earn R47,000.00 per month on average, which is 14% more than VPs with a high school certificate. VPs with a Bachelor’s degree earn significantly more than VPs with a diploma, who earn R66,200.00 per month.
Vice Presidents with master’s degrees earn the highest salaries, with an average monthly salary of R80,200.00. Master’s degree holders earn 21% more than bachelor’s degree holders.
Employer
A Vice President’s salary is influenced by the company for which they work. The employer is in charge of issuing bonus packages, commissions, and other attainable benefits. Employers in the JSE are the best to work for, but the job comes with more responsibilities.
Another deciding factor is a Vice President’s level of experience. Below is an examination of the impact of a Vice President’s level of experience.
Salary of a Vice President in South Africa based on their level of experience
Salary of a Vice President with 0 – 2 years of work experience in 2022
A Vice President with 0 to 2 years of experience can expect to earn R34,100.00 per month on average. Vice Presidents with 0 to 1 year of experience earn the lowest salaries, with an average monthly salary of R32,000.00.
VPs with 2 years of experience earn the most in this category, with an average monthly salary of R37,200.00. Vice Presidents with 2 years of experience and a master’s degree can expect to earn up to R39,800.00 per month.
Salary of a Vice President with 3 – 5 years of work experience in 2022
A Vice President with 3 to 5 years of experience earns an average monthly salary of R45,800.00. The salary represents a 34% increase in salary over Vice Presidents with 0 to 2 years of experience.
A Vice President with 5 years of experience earns the most in this category, with an average monthly salary of R52,300.00. Vice Presidents with 3 years of experience earn the lowest salaries in the category, with an average monthly salary of R42,100.00.
Salary of a Vice President with 6 – 10 years of work experience in 2022
A Vice President with 6 to 10 years of experience earns an average monthly salary of R59,500.00. The salary represents a 30% increase over the average salary of Vice Presidents with 3 to 5 years of experience.
Vice Presidents with 10 years of experience are the highest paid in this category, with an average monthly salary of R63,000.00. Vice Presidents with 6 years of experience earn the least in this category, with an average monthly salary of R56,800.00.
Salary of a Vice President with 11 – 15 years of work experience in 2022
A Vice President with 11 to 15 years of experience earns an average monthly salary of R72,000.00. The salary represents a 21% increase over the average salary of Vice Presidents with 6 to 10 years of experience.
Vice Presidents with 15 years of experience earn the most in this category, with an average monthly salary of R74,500.00. Vice Presidents with 11 years of experience earn the lowest salaries in the category, with an average monthly salary of R67,700.00.
Salary of a Vice President with 16 – 20 years of work experience
A Vice President with 16 to 20 years of experience earns an average monthly salary of R78,700.00. The salary represents a 9% increase over the average salary of Vice Presidents with 11 to 15 years of experience.
Vice Presidents with 20+ years of experience earn the most, with an average monthly salary of R82,800.00. A Vice President’s salary can reach R2 million per year, and Vice Presidents in the 90th percentile earn this amount.
Conclusion
A Vice President position is extremely demanding and comes with numerous responsibilities. Vice Presidents have the ability to influence companies and assist them in meeting their revenue targets through their work.
