Some of the highest paying degrees in South Africa are awarded to excellent students upon successful completion of a course of study in higher education, usually at a college or university. These higher institutions of learning commonly offer degrees at various levels, typically including bachelor’s, master’s and doctorates, often alongside other academic certificates, and also professional degrees.
The most common undergraduate degree awarded to students is the bachelor’s degree, although, in a few countries, lower qualifications are also titled degrees (e.g. associate degrees in the US or foundation degrees in the UK) while in most others a higher-level first degree is more usual. Obtaining a degree is quite important if you hope to pursue a career in some of the top leading fields of human endeavor.
Top 10 Highest Paying Degrees In South Africa 2020
A career and job information platform known as PayScale has compiled a list of all bachelor degrees which have the highest earning potential, showing that STEM fields (science, technology, engineering, and mathematics) degrees will definitely get you onto the high-earners list. PayScale’s data shows us that engineering comes out on top, with early career salaries estimated to be between $60,000 and $94,000 per year and shooting up to as much as $175,000 as you gain more experience on the job.
Salaries earned by those who graduate with a mathematics degree can go as high as $131,700 per year based on experience, and for those with science degrees, it could go as high as $122,000.
The focus of this article on the degrees that offer the most reward for holders in South Africa. South Africa remains one of the top countries in Africa, attracting lots of new people seeking paid employment daily. With a population of over 53 million people, there is a strong competition for the available white-collar jobs. The minimum wage in South Africa currently is $1.58 an hour which when converted amounts to 20 Rand an hour. The best degrees if you want to make the most money in South Africa are discussed below.
The degrees on this list have the most average salary earned in South Africa.
Master Of Business Administration (Mba) R741 720
The Master of Business Administration degree shortened as MBA is an internationally-recognized degree designed to help students on the program develop the skills required for careers in business and management. The value of the MBA is however not limited strictly to the business world alone.
An MBA can also be of use for those pursuing a managerial career in the public sector, government, private industry, and so many other areas of human endeavor. Most MBA programs available include a core curriculum of subjects, such as accounting, economics, marketing, and operations, as well as several elective courses that allow participants to follow their own personal or professional interests.
Some schools also require that MBA candidates complete an internship at a company or organization, which can be a pathway to concrete job opportunities at the program. The median salary enjoyed by holders of MBA is R741,720 in South Africa.
Master Of Engineering (Meng) R528 530
The Master of Engineering degree is a high-level degree that one obtains after a Bachelor’s degree. Holders of this degree in South Africa earn an average of R528,530 salary. It ranks as the second highest paying degree in South Africa.
Doctor Of Philosophy (Dphil) R500 000
The Doctor of Philosophy (DPhil) is the third most rewarding degree in South Africa. Holders of this degree earn a median salary of R500,000.
Bachelor Of Engineering (Beng) R418 400
The Bachelor of Engineering BEng degree is next. It is the degree earned after completing the first level of engineering education at a University or an equivalent institution of learning. Holders of this degree in South Africa earn an average of R418,400.
Master Of Commerce (Mcom) R399 900
Holders of Master of Commerce degree in South Africa earn an average of R399,900 in salary.
Master Of Science (Msc) R379 180
The Master of Science degree holders in various science fields earns a median salary of R379,180 in South Africa.
Bachelor Of Accounting (Bacc) R372 340
Holders of the Bachelor of Accounting degree in South Africa earn R372,340 in average salary.
Bachelor of science, mechanical
- Engineering (bsme) r371 350
The holders of this degree in South Africa earn on the average, the sum of R371,350 in salary.
Bachelor Of Science, Computer Science (Bsc Cs) R369 000
The Bachelor of Science degree in Computer Science is the 9th most paying degree in South Africa. Holders of this degree earn the sum of R369,000 on the average.
Bachelor Of Science (Bsc) R318 280
Rounding up this list is the Bachelor of Science degree. Holders of the Bachelor of Science degree in South Africa earn on the average the sum of R318, 280.
Top 10 Bachelors Degrees Based On Earning Potentials
- Petroleum Engineering
- Actuarial Mathematics
- Actuarial Science
- Nuclear Engineering
- Chemical Engineering
- Marine Engineering
- Economics and Mathematics
- Cognitive Science
Electrical Power Engineering
The ranking of PayScale is more directly tied to US-based jobs, but South African salary data also reflects a similar trend. For example, PayScale’s salary data for the median salaries across South Africa’s top three major metros (Johannesburg, Cape Town, and Durban) shows that engineering degrees are only second to MBAs in potential earning power. The table shown below outlines the median salaries of the top ten degrees with the highest earning potential in South Africa.
The data of PayScale is also backed up by the recent CareerJunction Salary survey, which also showed that engineering, as well as high-level finance jobs, are some of the highest-paying jobs in the country. The numbers in the data have been rounded up.
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Conclusion on The Highest Paying Degrees In South Africa
Holding a degree is definitely a great thing to do but some degrees have more value in terms of earning potential than others. The ten most paying degrees in South Africa have been discussed in this article, to serve as a guide for those seeking to pursue degree programs in the country.
Now that you know the best highest paying degrees in South Africa, kindly share.
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