How Much Money Does the Average Employee Earn at South African Startups?

TechInAfrica — Timon Capital, a venture capital firm, has released a new report regarding the average salaries at African startups. The report is based on salary and compensation information across 50 startups in Nigeria, Kenya, Ghana, and South Africa.

The report shows that fintech was the most popular field so far (20%) among the respondents, followed by software development (7%) and logistics (6%).

Most of the startup founders indicated they have some sort of tertiary degree – with 50% indicating that they have a Bachelor’s degree or higher.

These founders are basically between the ages of 20-39, are male, and began the company within the last three years.

54% of the surveyed companies said they have one ofﬁce, while 37.5% of the surveyed companies said they have operations in more than one country.

It should be noticed that most of the startups interviewed were large enough to draw international investors and are established enough that they are seeking funding actively.

This may skew the results and salaries towards the higher-end.

The data shows that every one of the startups reviewed the average chief executive officer salary was $37,560 (R550,922)

Comparatively, the average salary for a chief technical officer was $35,131 (R515,294) and the average chief marketing officer’s salary was $31,666 (R464,470).

The data shows (with dollar to rand conversions taken at R14.67/dollar) that C-level executives in South African can earn substantially more than their African counterparts, with the average chief executive officer taking home $65,714 (R963,879)

Chief executive officer salaries range between $10,000 – $125,000 (R146,678 – R1.83 million) while their total compensation ranges between $10,000 – $500,000 (R146,678 – R7.3 million).

Chief technical officer salaries range between $10,000 – $90,000 (R146,678 – R1.32 million) while their total compensation ranges between $10,000 – $500,000 (R146,678 – R7.3 million).

Chief marketing officer salaries range between $10,000 – $125,000 (R146,678 – R1.83 million) while their total compensation ranges between $10,000 – $175,000 (R146,678 – R2.56 million).

Senior engineer salaries range between $10,000 – $70,000 (R146,678 – R1.02 million) while their total compensation ranges between $10,000 – $250,000 (R146,678 – R3.66 million).

Junior engineer salaries range between $10,000 – $50,000 (R146,678 – R733,000) while their total compensation ranges between $10,000 – $250,000 (R146,678 – R3.66 million).

Junior analyst salaries range between $10,000 – $30,000 (R146,678 – R440,000) while their total compensation ranges between $10,000 – $70,000 (R146,678 – R1.02 million).