What are Wages?
A wage is payment made by an employer to an employee for work done in a specific period of time. Some examples of wage payments include compensatory payments such as minimum wage, prevailing wage, and yearly bonuses, and remunerative payments such as prizes and tip payouts.
Average Wages In South Africa
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.
A person working in South Africa typically earns around 31,100 ZAR per month. Salaries range from 7,880 ZAR (lowest average) to 139,000 ZAR (highest average, actual maximum salary is higher). This is the average monthly salary including housing, transport, and other benefits.
What is a livable salary in South Africa?
Economics and financial market data provider Trading Economics estimates the living wage in South Africa to be R6,700 per month for an individual and R10,630 per month for a family.
Why are salaries so low in South Africa?
The drop in salaries comes at a time when South African consumers are financially stretched and are left to contend with rising food and transport costs, the economic fallout of the Covid-19 pandemic, and an overall slow economy.
What is a rich 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.
What is the lowest paying job in South Africa?
South Africa’s best and worst paying jobs – and the gap in between
| LOWEST-PAYING JOBS IN SA | ||
|---|---|---|
| Admin, Office and Support | Messenger and Postal Service | R9,227 – R11,087 |
| Admin, Office and Support | Admin Clerk | R9,245 – R12,583 |
| Admin, Office and Support | Client and Customer Support | R9,677 – R11,411 |
| Sales | Travel Agent | R9,700 – R13,587 |
What is a big salary in South Africa?
A biomedical engineer in their early career with 1-4 years of experience makes an average of 303,000 Rands per year. A biomedical engineer with 5-9 years of experience earns an average of 420,000 Rands per year, whereas a biomedical engineer with more than 10 years of experience can earn up to 734,000 Rands per year.
Is R50 000 a good salary in South Africa?
Local research by the University of Cape Town’s South African Labour 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.