What is Middle Class?
The middle class refers to a class of people in the middle of a social hierarchy, often defined by occupation, income, education or social status. The term has historically been associated with modernity, capitalism and political debate.
Average Middle Class Salary In South Africa
According to Statistics South Africa’s employment report for the fourth quarter of 2021, the average worker’s salary in South Africa is R23,982 per month. This amounts to R287,784 annually.
What salary is middle-class in South Africa?
The stats from FNB suggest that the average middle-income consumer, earning between R180,000 and R500,000 a year, survives on 20% of their monthly salary for more than 20 days in a month.
What is the average salary in South Africa?
Average monthly salary in South Africa 2015-2020
The average monthly salary for South Africans who were employed in the formal non-agricultural sector was close to 24 thousand South African rands (comparable to roughly 1.64 thousand U.S. dollars) in November 2021, which represented a yearly increase of 3.9 percent.
What is considered a good salary in South Africa?
The national average monthly salary in South Africa ranges from a minimum wage of 7,880 ZAR per month (USD 511) to a maximum average salary of 139,000 ZAR per month (USD 9007.) However, the actual maximum salary can be higher based on an employee’s experience, educational qualification, etc.
What is a wealthy salary in South Africa?
The monthly salary you would need to be a top 1% earner, meanwhile, is around R151,451, the data shows. You would need a net wealth of around R4. 2 million to be considered a member of South Africa’s top 1% when considering total wealth, with the average net wealth of the one-percenters being closer to R22. 6 million.
Is R50 000 a good salary in South Africa?
Local research by the University of Cape Town’s South African Labor and Development Research Unit also finds that a top 1% earner in South Africa takes home just under R50,000 a month (after tax) – approximately R70,000 a month, or R840,000 a year.