As of March 2026, Old Mutual Limited, a premier pan-African financial services group, has significantly expanded its recruitment for specialized consultant roles. These positions are designed for high-performing professionals who can provide expert financial advice, manage complex client portfolios, and drive business growth across its key markets in South Africa, Zimbabwe, Kenya, and beyond.
Consultant roles at Old Mutual are known for offering a “Total Reward” model, which combines a competitive base salary with aggressive performance-based bonuses and long-term incentives.
Old Mutual Consultant Salary & Earnings Guide 2026
Compensation at Old Mutual varies by the specific division (e.g., Old Mutual Insure, Investment Group, or Personal Finance) and the seniority of the consultant.
| Consultant Role | Level / Experience | Est. Monthly Salary (ZAR) | Est. Annual Total (ZAR) |
| Financial Consultant | 3–6 Years | R 18,000 – R 35,000 | R 216,000 – R 420,000 |
| Broker Sales Consultant | 5–8 Years | R 30,000 – R 55,000 | R 360,000 – R 660,000 |
| Procurement Consultant | Mid-Senior | R 45,000 – R 72,000 | R 540,000 – R 864,000 |
| Investment Consultant | Specialist / Senior | R 65,000 – R 95,000+ | R 780,000 – R 1.1M+ |
The “Incentive” Edge:
- Commission Sharing: High-level financial advisers can earn 75% to 100% of commission shares upon meeting specific targets.
- Bonuses: Annual performance bonuses can range from R 75,000 to over R 150,000 for top-tier consultants.
- Training Allowance: New advisers often receive a training allowance of up to R 20,000/month for the first three months.
I. Active High-Pay Vacancies (Apply by March/April 2026)
The following positions are currently open for the 2026 recruitment cycle:
1. Procurement Consultant (Hybrid – Pinelands/Johannesburg)
- Role: Managing strategic sourcing and contract negotiations across group functions.
- Requirements: 5+ years in procurement within financial services.
- Apply Here: Old Mutual Careers Portal
2. Investment Appraisal Consultant (Harare, Zimbabwe)
- Deadline: March 31, 2026
- Focus: Providing technical analysis for large-scale infrastructure and equity investments.
- Workstyle: Office-based with regional travel.
3. Broker Sales Consultant (Gauteng / Western Cape)
- Focus: Building and maintaining relationships with independent financial brokers to drive product uptake.
- Compensation: High base + uncapped commission.
II. Key Responsibilities & Expectations
Consultants at Old Mutual are expected to operate with high autonomy while maintaining strict compliance with the Financial Advisory and Intermediary Services (FAIS) Act and other regional regulations:
- Strategic Advisory: Conducting comprehensive financial needs analyses for corporate or private wealth clients.
- Relationship Management: Maintaining a high retention rate by providing empathetic, expert support during claims or market volatility.
- Solution Analysis: Assessing complex financial data to recommend the best insurance, retirement, or investment products.
- Technical Compliance: Ensuring all client interactions and record-keeping meet Anti-Money Laundering (AML) and internal audit standards.
III. Eligibility & Career Progression
The Professional Profile
- Education: A University degree in Finance, Economics, Accounting, or Commerce is standard. Senior roles often require a Certified Financial Planner (CFP) designation or an MBA.
- Regulatory Exams: In South Africa, RE5 (Representative) and RE1 (Key Individual) certifications are mandatory for most consultant roles.
- Soft Skills: Exceptional negotiation skills and the ability to thrive in a high-pressure, target-driven environment.
Benefits Beyond Pay
Old Mutual is consistently rated as a “Top Employer” due to:
- Medical & Retirement: Comprehensive medical aid and provident fund contributions.
- Study Assistance: Financial support for industry-related qualifications.
- Flexibility: Growing transition toward hybrid and remote work for non-client-facing consultant roles.
IV. How to Apply Successfully
- Register on Workday: Most Old Mutual jobs are managed via their Workday Recruitment Portal.
- Optimize for “Greatness”: The company culture emphasizes “Finding your Greatness.” Use your cover letter to demonstrate accountability and a customer-centric mindset.
- Prepare for Assessments: Be ready for psychometric testing and technical case studies, especially for Investment or Actuarial consultant tracks.
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Disclaimer: CareersWorldwide is not the organization that is offering these jobs. This content is for informational purposes only. For official applications and updated salary data, please visit theofficial Old Mutual Careers page. We are not affiliated with the brand.
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