Finance skills employers are struggling to hire - and why the gap is widening

April 8, 2026

Hiring in finance isn’t slowing down in South Africa. If anything, demand is holding steady. What’s changed is what employers are actually hiring for - and why so many of those roles are proving difficult to fill.

That distinction matters, because while the finance function hasn’t shrunk, it has changed shape. And the skills required to succeed in it have shifted faster than most hiring strategies have kept up with.

Globally, this isn’t a new conversation. Reports like Deloitte’s Finance Trends 2026 point to a clear direction of travel: finance teams are expanding beyond reporting and compliance into scenario planning, predictive modelling, and AI-supported decision-making. The modern finance function sits closer to strategy than ever before. And increasingly, that means operating at the intersection of accounting and data science.

In theory, this is an evolution. In practice, it’s creating a hiring bottleneck.

The role has moved. The talent pipeline hasn’t.

South Africa is feeling this shift in a very specific way. While the demand for finance professionals with technical skills is growing, the supply pipeline is still catching up.

The latest FASSET sector skills plan highlights exactly where the pressure points are. Employers are looking for capabilities in data mining, analytics, cloud computing, database management, and cybersecurity. These aren’t “nice-to-have” additions anymore. They’re becoming core to how finance teams operate.

But training pathways haven’t fully aligned with this demand. Traditional finance qualifications still focus heavily on accounting fundamentals, which remain essential, but don’t always go far enough in preparing candidates for data-heavy environments. On the other side, candidates with strong data skills often don’t see themselves in finance roles at all.

The result is a mismatch that shows up quickly in hiring processes: employers are looking for hybrid profiles, while candidates are still largely being produced in silos.

Finance is now competing with IT (and often losing)

Even when the right candidates do exist, finance teams aren’t the only ones trying to hire them.

There’s a growing overlap between finance and technology roles, particularly at the mid-level where analytical capability becomes critical. Salary data makes this overlap hard to ignore.

According to Pnet’s 2026 Job Market Trends Report, financial analysts in South Africa are earning between R41,667 and R50,000 per month. That puts them directly alongside data scientists, who fall within a similar range of R36,667 to R50,000. Business intelligence analysts sit slightly lower, between R30,000 and R38,958, but still firmly within the same band.

On paper, that suggests a level playing field, but in reality, it rarely is.

Technology roles often come with clearer exposure to advanced tools, more defined technical career paths, and, in some cases, access to higher-paying specialisations like data engineering, DevOps, or cybersecurity. For candidates deciding where to apply their analytical skills, those factors carry weight.

Finance roles, by comparison, don’t always position themselves as “technical” in the same way, even when the work increasingly is. That perception gap can be enough to tip the scales.

The expectation gap inside finance teams

There’s another layer to this challenge, and it sits inside organisations themselves.

Many finance leaders recognise the need for more advanced analytical capability. They want teams that can model different scenarios, interpret complex datasets, and support strategic decisions in real time. But hiring briefs don’t always reflect that clearly.

It’s common to see roles that ask for a traditional finance background, several years of experience, and advanced data skills layered on top. In effect, employers are looking for fully formed hybrid professionals, without always adjusting for how rare those profiles still are.

That creates friction in the hiring process, since candidates who meet the technical criteria may not tick every traditional box. Those with strong finance experience may not yet have deep data exposure. And the “perfect fit” becomes increasingly difficult to find.

There’s a noticeable change in how finance roles are evaluated.

Professionals with analytical skills want to use them. They’re looking for environments where data is not just available, but actively used in decision-making. They want exposure to modern tools, opportunities to build technical capability, and roles that extend beyond static reporting.

If a finance position leans too heavily on manual processes or doesn’t clearly demonstrate how data informs strategy, it becomes less attractive. Especially when compared to roles in tech-focused environments where those elements are more explicit.

Does this mean finance is losing its appeal? No - just that expectations have changed.

See Finance Vacancies

Bridging the gap requires more than recruitment

Closing this skills gap comes down to adjusting how finance roles are defined, positioned, and developed internally.

For some organisations, that means rethinking entry points. Bringing in candidates with strong analytical or technical backgrounds and building their finance knowledge over time can be more effective than searching for fully qualified hybrids.

For others, it’s about investing in existing teams. Upskilling finance professionals in data tools, analytics platforms, and emerging technologies can help bridge the gap more sustainably than relying solely on external hires.

There’s also a messaging component. Finance roles need to be presented as dynamic, forward-looking, and technically relevant. Because increasingly, that’s what they are.

See Finance Candidates

What it comes down to

The challenge facing finance employers is more than just a shortage of talent. It’s a shift in what “finance talent” looks like. The function has expanded. The expectations have evolved. And the skill sets required now sit across disciplines that haven’t traditionally overlapped.

Until hiring strategies, training pathways, and role design catch up with that reality, the gap will persist.

For organisations that get it right, there’s an opportunity not just to fill roles, but to build finance teams that are better equipped for the kind of uncertainty and complexity the next few years are likely to bring.