This is how much you need to earn to match the average salary in South Africa

 ·14 Dec 2023

Stats SA has published the latest Quarterly Employment Survey results for the third quarter of the 2023/24 financial year, ending September 2023.

According to the statistics body, there was a small 0.9% increase in quarter-on-quarter average monthly earnings for employees in the formal non-agricultural sector, with earnings growing from R25,866 (revised) in May 2023 to R26,086 in August 2023.

On a year-to-year basis, the average monthly earnings paid to employees in the formal non-agricultural sector saw growth of 4.7% – increasing from R24,916 in 2022.

According to Stats SA, gross earnings paid to employees increased by R16.7 billion or 2.0% from R833.6 billion in June 2023 to R850.2 billion in September 2023.

This was largely due to increases in the following industries: business services, community services, mining, manufacturing, electricity and construction. However, there were decreases in the following industries: transport and trade.

The year-on-year gross earnings increased by R51.6 billion or 6.5% between September 2022 and September 2023.

Basic salary/wages paid to employees increased by R15.2 billion or 2.0% from R759 billion in June 2023 to R774.3 billion in September 2023.

This was largely due to increases in the following industries: community services, business services, mining, manufacturing, transport, trade, construction and electricity.

The year-on-year basic salary/wages increased by R44.9 billion or 6.2% between September 2022 and September 2023.

Bonus paid to employees increased by R1.8 billion or 3.7% from R49.2 billion in June 2023 to R51 billion in September 2023.

This was largely due to increases in the following industries: business services and community services.

However, there were decreases in the following industries: transport, trade, manufacturing, construction and electricity.

The year-on-year bonus payments increased by R4.4 billion or 9.5% between September 2022 and September 2023.

Overtime paid to employees decreased by R408 million or -1.6% from R25.4 billion in June 2023 to R25 billion in September 2023.

This was largely due to decreases in the following industries: trade, manufacturing, community services, electricity and transport. However, business services and construction reported a quarterly increase.

The year-on-year overtime payments increased by R2.2 billion or 9.7% between September 2022 and September 2023.

Employment gains

Looking at the employment figures from the survey, total job increased by 31,000 or 0.3% quarter-on-quarter, from 10,145,000 in June 2023 to 10,176,000 in September 2023.

Stats SA noted that this was largely due to increases in the following industries: community services (42,000 or 1.4%), trade (4,000 or 0.2%), transport (2,000 or 0.5%) and mining (2,000 or 0.4%).

The electricity sector reported no change.

However, there were decreases in the following industries: business services (-7,000 or -0.3%), manufacturing (-7,000 or -0.6%), and construction (-5,000 or -1.0%).

The report shows that total employment increased by 256,000 or 2.6% year-on-year between September 2022 and September 2023.


Read: These jobs have seen the biggest salary hikes in South Africa

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