Average Salary For Agricultural Economist In South Africa

Agricultural economics is an applied field of economics concerned with the application of economic theory in optimizing the production and distribution of food and fiber products. Agricultural economics influences food policy, agricultural policy, and environmental policy.

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Below are salaries earned by An Agricultural Economist In South Africa

A person working as an Agricultural Economist in South Africa typically earns around 50,600 ZAR per month. Salaries range from 24,800 ZAR (lowest) to 78,900 ZAR (highest).

This is the average monthly salary including housing, transport, and other benefits. Agricultural Economist salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.

Agricultural Economist Salary Distribution in South Africa

The median, the maximum, the minimum, and the range

Salary Range
Agricultural Economist salaries in South Africa range from 24,800 ZAR per month (minimum salary) to 78,900 ZAR per month (maximum salary).

Median Salary

The median salary is 51,600 ZAR per month, which means that half (50%) of people working as Agricultural Economists (s) are earning less than 51,600 ZAR while the other half are earning more than 51,600 ZAR. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

Percentiles

Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Agricultural Economists (s) are earning less than 34,400 ZAR while 75% of them are earning more than 34,400 ZAR. Also from the diagram, 75% of Agricultural Economists (s) are earning less than 66,500 ZAR while 25% are earning more than 66,500 ZAR.

Agricultural Economist Salary Comparison by Years of Experience

How do experience and age affect your pay?

The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Agricultural Economist salaries by experience level and this is what we found.

An Agricultural Economist with less than two years of experience makes approximately 29,400 ZAR per month.

While someone with an experience level of between two and five years is expected to earn 37,800 ZAR per month, 29% more than someone with less than two years of experience.

Moving forward, an experience level between five and ten years lands a salary of 52,100 ZAR per month, 38% more than someone with two to five years of experience.

Additionally, Agricultural Economist(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 64,500 ZAR per month, 24% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 69,100 ZAR per month, 7% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 73,700 ZAR per month, 7% more than people with fifteen to twenty years of experience.

Agricultural Economist average salary change by experience in South Africa

0 – 2 Years29,400 ZAR
2 – 5 Years+29%37,800 ZAR
5 – 10 Years+38%52,100 ZAR
10 – 15 Years+24%64,500 ZAR
15 – 20 Years+7%69,100 ZAR
20+ Years+7%73,700 ZAR

Agricultural Economist Salary Comparison By Education

We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Agricultural Economist salaries by education level in order to make a comparison.

When the education level is Bachelor’s Degree, the average salary of an Agricultural Economist is 34,500 ZAR per month.

While someone with a Master’s Degree gets a salary of 47,500 ZAR per month, 38% more than someone having a Bachelor’s Degree degree.

A Ph.D. gets its holder an average salary of 77,800 ZAR per month, 64% more than someone with a Master’s Degree.

Agricultural Economist average salary difference by education level in South Africa

Bachelor’s Degree34,500 ZAR
Master’s Degree+38%47,500 ZAR
PhD+64%77,800 ZAR

Agricultural Economist Salary Comparison By Gender

Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women?

Male Agricultural Economist employees in South Africa earn 8% more than their female counterparts on average.

Male52,200 ZAR
Female-7%48,400 ZAR

Agricultural Economist Average Annual Salary Increment Percentage in South Africa

How much are annual salary increments in South Africa for Environmental Economist(s)?

How often do employees get salary raises?

Agricultural Economist

Environmental economists (s) in South Africa are likely to observe a salary increase of approximately 11% every 20 months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.

Agricultural Economist Bonus and Incentive Rates in South Africa

How much and how often are bonuses being awarded?

An Agricultural Economist is considered to be a moderate bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

43% of surveyed staff reported that they haven’t received any bonuses or incentives in the previous year while 57% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 3% to 6% of their annual salary.

Received Bonus
57%

No Bonus
43%

Agricultural Economist Average Hourly Wage in South Africa

The average hourly wage (pay per hour) in South Africa is 290 ZAR. This means that the average Environmental Economist in South Africa earns approximately 290 ZAR for every worked hour.

How much do agricultural economists earn in South Africa per month?

The average pay for an Economist is ZAR 835,834 a year and ZAR 402 an hour in South Africa. The average salary range for an Economist is between ZAR 584,046 and ZAR 1,049,739.

Are agricultural economists in demand in South Africa?

As a result, there is a much greater demand for agricultural economists to take part in the marketing decisions of the farmers’ products. An increasing number of agricultural economists are becoming involved in these kinds of activities in South Africa.

Where can I study agricultural economics in South Africa?

Stellenbosch University

Stellenbosch University, Agricultural Economics, which offers the Agricultural Economics and Management program, combines the technical aspects of agriculture with the business aspects of management, marketing, and finance.

How much do economists make in South Africa?

Senior Economist: Tertiary Sector (S069/2019)

Is Agricultural Economics a good major in South Africa?

The Economic Value of College Majors ranked Agricultural Economics as 8th in employability out of the 171 majors that the study analyzed.

What do economists do in South Africa?

Economists work within the South African Reserve Bank to develop and implement monetary policy. Economists also work for National Treasury, the di, the Competition Commission, and many other very important government agencies responsible for taxation, economic policy, and regulation.

How many years does it take to study economists in South Africa?

In order to become an Economist, you will have to obtain, at minimum, an undergraduate degree (3 years) majoring in economics, as well as an honors degree in economics (1 year). An Economics major can be done as part of a Bachelor of Social Science degree, a Bachelor of Commerce degree, or a Business Science degree.

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