{"id":127613,"date":"2016-06-22T10:36:23","date_gmt":"2016-06-22T08:36:23","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=127613"},"modified":"2016-06-22T10:45:50","modified_gmt":"2016-06-22T08:45:50","slug":"how-much-money-people-in-south-africa-are-getting-paid","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/127613\/how-much-money-people-in-south-africa-are-getting-paid\/","title":{"rendered":"How much people in South Africa are getting paid"},"content":{"rendered":"<p>The average South African salary grew just above the estimated rate of inflation with a 6.7% year-on-year growth recorded in May, according to the latest BankservAfrica Disposable Salary Index (BDSI) data.<\/p>\n<p>This level is lower than recorded in April 2016 where the disposable salary growth was 7.3%. According to the BDSI data, the <strong>average take-home salary in May was R13,142, slightly above April\u2019s average of R12,877<\/strong>.<\/p>\n<p>\u201cThe higher monthly average trend is likely to continue, in line with the anticipated public sector wage increases,\u201d said Mike Sch\u00fcssler, chief economist at Economists dotcoza.<\/p>\n<p>The BDSI median salary shows that 50% of individuals with monthly take-home salaries paid into their bank accounts took home at least R9,679 in May.<\/p>\n<p><a  data-lightbox=\"post-image\" href=\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Broad-take-home-category.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-127617\" src=\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Broad-take-home-category.png\" alt=\"Broad take-home category\" width=\"628\" height=\"442\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Broad-take-home-category.png 628w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Broad-take-home-category-300x211.png 300w\" sizes=\"auto, (max-width: 628px) 100vw, 628px\" \/><\/a><\/p>\n<p>BankservAfrica said it can reflect on four years of data, which reveals some interesting trends.<\/p>\n<p>The number of people receiving less than R4,000 per month in their disposable salary is now under 17%, down from around 21% four years ago.<\/p>\n<p>This lowest take-home pay group saw a decline of nearly 13% over the same period, which indicates that people are moving out of this category.<\/p>\n<p>The next group of salaries measured over a four year period are the category receiving between R4,001 and R10,000 into their bank accounts. This group has declined from 43.3% of the total to just under 35% of the total.<\/p>\n<p>Previously, this was the biggest group, but now forms the second largest group of people. It has declined by 11.4% since May 2012, BankservAfrica said.<\/p>\n<p>The largest group of people get between R10,001 and R25,000 paid into their accounts, and make up 38.3% of this category that has also seen growth of over 45% in the four years to May 2016.<\/p>\n<p>The number of people earning a disposable salary of over R25,000, but below R50,000, has increased by 60% compared to May 2012, when this category made up less than 6%. They now make up 8.6% of the total.<\/p>\n<p>Those earning a disposable salary of between R50,001 and R100,000 more than doubled, growing with 104.9% over the last four years. While the base is small, they now make up just less than 2% of the total sample.<\/p>\n<p>The final salaries category \u2013 which is not used in calculated averages or medians \u2013 is those who take home over R100,000, which grew by 218.4%, BankservAfrica said.<\/p>\n<p>It cautioned that many of these payments are often retrenchment packages and once-off bonuses.<\/p>\n<p>&#8220;Nonetheless, in 2013 this category was made up of 5 000 people and has increased to over 11,000 people now,&#8221; it said.<\/p>\n<p>Take-home pay, however, just kept pace with official inflation over the last four years with consumers now feeling the pinch of higher taxes and medical insurance, the report said.<\/p>\n<div class=\"bt_table\">\n<div class=\"table-responsive\"><table class=\"table\" width=\"100%\" cellspacing=\"0\" cellpadding=\"6\">\n<tbody>\n<tr>\n<th bgcolor=\"#CCCCCC\" width=\"50%\">Disposable income category Rands per month<\/th>\n<th style=\"text-align: center;\" bgcolor=\"#CCCCCC\" width=\"50%\">% Change in number of employees per salary band since May 2012<\/th>\n<\/tr>\n<tr>\n<td>R0 &#8211; R4 000<\/td>\n<td style=\"text-align: center;\">-12.7%<\/td>\n<\/tr>\n<tr>\n<td>R4 001 &#8211; R10 000<\/td>\n<td style=\"text-align: center;\">-11.4%<\/td>\n<\/tr>\n<tr>\n<td>R10 001 &#8211; R25 000<\/td>\n<td style=\"text-align: center;\">45.4%<\/td>\n<\/tr>\n<tr>\n<td>R25 001 &#8211; R50 000<\/td>\n<td style=\"text-align: center;\">60.0%<\/td>\n<\/tr>\n<tr>\n<td>R50 001 &#8211; R100 000<\/td>\n<td style=\"text-align: center;\">104.9%<\/td>\n<\/tr>\n<tr>\n<td>R100 001+<\/td>\n<td style=\"text-align: center;\">218.4%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n<h3 class=\"my-4\">More on wages in South Africa<\/h3>\n<p><a href=\"http:\/\/businesstech.co.za\/news\/general\/117820\/how-much-money-the-average-person-in-south-africa-gets-paid\/\" target=\"_blank\"><strong>How much money the average person in South Africa gets paid<\/strong><\/a><\/p>\n<p><a href=\"http:\/\/businesstech.co.za\/news\/wealth\/119113\/south-african-salaries-in-2016-what-people-earn\/\" target=\"_blank\"><strong>South African salaries in 2016: what people earn<\/strong><\/a><\/p>\n<p><a href=\"http:\/\/businesstech.co.za\/news\/business\/121949\/best-and-worst-paying-cities-in-south-africa\/\" target=\"_blank\"><strong>Best and worst paying cities in South Africa<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The average South African salary grew just above the estimated rate of inflation with a 6.7% year-on-year growth recorded in May, according to the latest BankservAfrica Disposable Salary Index (BDSI) data.<\/p>\n","protected":false},"author":10,"featured_media":127615,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[1976,26],"class_list":["post-127613","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-bankservafrica","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/127613","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=127613"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/127613\/revisions"}],"predecessor-version":[{"id":127627,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/127613\/revisions\/127627"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/127615"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=127613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=127613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=127613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}