Guide to becoming a Financial manager in South Africa
A career as a financial manager has been listed as one of the most stable and growing careers in South Africa. Being a financial manager is said to be a dream come true, though getting there is not easy and requires a lot of hard work and dedication, achieving this dream is totally worth it.
What does a Financial manager degree mean for you and what does it entail ?
Firstly this career is advised for people who have great problem solving and analytical skills. To attain this degree you would have to study for a Bachelor of Commerce degree of which you would then choose to major in finance. A financial manager ensures that any financial decisions an individual or company etc makes, adheres to all set regulations (for example tax regulations). A financial manager provides advice and budget planning that are in the individuals or corporations best interest.
What are the requirements needed to enrol into a Tertiary institution that offers this course ?
As mentioned above, financial management is taken as a major in Commerce. The general minimum requirement to apply or study for a Bachelor of commerce is an average aps of 32+ at NSC level (excluding life orientation)and NSC level 5/6 in mathematics and English. Accounting may be included as required subject. Do note that each university’s requirements differ.
Here are The minimum requirements to qualify to study for a Bachelor of Commerce degree at South Africa's top 5 universities :
WITS, an aps of 39+ ,an NSC level 5 in both Mathematics and English Home language( first additional language).
Whilst at the University of Cape town the minimum requirement for guaranteed admission is an aps of 480/600 (refer to the UCT website to see how the aps score is calculated),an extended degree curriculum for students who do not meet the minimum requirements is available, a Level 5 in Mathematics and a level 4 In English Home language or level 5 in English FAL.
The University of Pretoria, an aps of 32 and a level 5 in both mathematics and English home language or English first additional language. This University offers an extended degree curriculum should you not meet the minimum requirements.
The minimum requirements to qualify for this course at Stellenbosch University is an NSC Aggregate of at least 65% excluding life orientation, A level 5 in Mathematics, a level 5 in Afrikaans or a level 4 in English home language or a level 5 in English first additional language or Afrikaans first additional language. This university offers an extended degree curriculum should you not meet the minimum requirements.
Last but not least the University of Kwa-Zulu, you need an aps of 48-30,mathematics and English at level 4. UKZN also offers an extended degree curriculum. In case you are confused on what an extended degree curriculum is : an extended degree curriculum is a degree that takes on generally 4 years instead of the normal 3 years a ‘normal’ degree would take. It’s to aid students who need more time with their studies and also those who didn’t/don’t qualify for the usual 3 year course. In the end your degree carries the same weight as the 3 year course degree. For further clarity on the aps and subject requirements download the prospectus of the university you are interested in to get more information.
What are the subjects needed in high school to qualify for a Bachelor of commerce degree?
As we have discussed above, you basically need to have Mathematics,English and Life orientation (not included in the aps but it’s sometimes required at an NSC level 4). The better your marks are, the higher your chances are at qualifying for this degree at a university of your choice.
How long does it take to complete this degree in South Africa and ways you can get into a Tertiary institution that offers this course?
Generally speaking it takes 3 years, but should you be enrolled for an extended degree program it will you take about 4 years. The simplest way to get into a Tertiary institution that offers this course is to enrol in a College or university after high school. Of course you would have to first apply and be granted admission into that tertiary institution. A longer step would be to do a Certificate in Commerce, then a diploma and then a degree. This will of course take much more time but in the end you will reap the fruit of your labour. Some universities offer certificate programs for students who do not meet the minimum requirements of both the 3 year course and 4 year course for a degree in Commerce.
Universities in South Africa and their fees for a Bachelor of Commerce degree majoring in financial management
1 University of Pretoria R35000 to R42000
2 University of Kwazulu Natal is approximately R 38520
3 University of Stellenbosch R44273
4 The university of the Witwatersrand R 47830 to R53940
5 The University of Cape Town R68 135
6 The Rhodes university R 49 988
7 The university of Johannesburg R 32 560
8 The university of Free state R 33995
9 The university of Western cape R 32 800 to R45 650
10 Varsity College R58 800 to R78000
Note, these fees are approximate. Some changes may have been made from the time this article was published*. The fees listed above are strictly Undergraduate,full time student fees. For more information, please contact the university of interest.
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