{"id":139683,"date":"2016-10-13T19:10:52","date_gmt":"2016-10-13T17:10:52","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=139683"},"modified":"2016-10-13T17:11:07","modified_gmt":"2016-10-13T15:11:07","slug":"how-much-money-you-get-paid-according-to-your-age-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/139683\/how-much-money-you-get-paid-according-to-your-age-in-south-africa\/","title":{"rendered":"How much money you get paid according to your age in South Africa"},"content":{"rendered":"

A new report shows how much the median wage is in South Africa, as well as how much money people earn according to their age, and their ethnicity.<\/p>\n

Data published by Statistics South Africa (Stats SA) in its Labour Market Dynamics Report for 2009 to 2015, showed that the average South African wage was R3,200 last year.<\/p>\n

Between 2010 and 2015, total median monthly earnings increased by R200. Over the same period, an increase in the median monthly earnings was observed among own –
\naccount workers (R816) and employees (R200) while for employers earnings declined (R916).<\/p>\n

The highest monthly median earnings for own- account workers (self employed) was observed in 2015 at R2,816 while for the\u00a0 employees, it was in 2012 at R3,115.<\/p>\n

Employers recorded the highest earnings of R9,100 in 2011 which declined by R2,100 between 2011 and 2015.<\/p>\n

The median monthly earnings for all population groups increased over the period 2010\u00a0to\u00a02015,\u00a0except\u00a0for\u00a0the\u00a0Indian\/Asian\u00a0population\u00a0 group for\u00a0whom\u00a0earnings decreased by\u00a0R200.<\/p>\n

Earnings for whites ranged from R9,850 in 2010 to R12,000 in 2015 while for black Africans, median monthly earnings ranged from a low of\u00a0 R2,200 in 2010 to R2,900 in\u00a0 2015.<\/p>\n

The median monthly\u00a0earnings\u00a0were\u00a0higher\u00a0for\u00a0the\u00a0employees\u00a0aged\u00a055\u201364\u00a0in\u00a0all\u00a0years and\u00a0lowest\u00a0amongst young people aged 15\u201324 years.<\/p>\n

However, the median monthly earnings for those aged 55-64 years remained unchanged at R3,500 between 2010 and 2015.<\/p>\n

\n\n\n\n\n\n\n\n
\u00a0Age<\/th>\n2010<\/th>\n2015<\/th>\nChange<\/th>\n<\/tr>\n
\n
15-24 yrs<\/div>\n<\/td>\n
R2 166<\/td>\n\u00a0R2 600<\/td>\nR434<\/td>\n<\/tr>\n
\n
25-34 yrs<\/div>\n<\/td>\n
R2 600<\/td>\nR3 006<\/td>\nR406<\/td>\n<\/tr>\n
\n
35-44 yrs<\/div>\n<\/td>\n
R3 000<\/td>\nR3 466<\/td>\nR466<\/td>\n<\/tr>\n
45-54 yrs<\/td>\nR3 250<\/td>\nR3 400<\/td>\nR150<\/td>\n<\/tr>\n
55-64 yrs<\/td>\nR3 500<\/td>\nR3 500<\/td>\nR0<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

\"median-monthly-earnings-by-status-in-employment\"<\/a> \"monthly-and-median-earnings\"<\/a><\/p>\n

According to salary research group PayScale, it is important to note that salaries are mostly determined by years of experience, and not by age.<\/p>\n

However, it can be assumed that experience and age are closely aligned if\u00a0 most employees leave university at age 21.<\/p>\n

According to the data, in their first year of work, young professional South Africans can expect to earn an average of R151,820 a year.<\/strong><\/p>\n

This increases to an average salary of R208,000<\/strong> (1 \u2013 4 years of experience), before hitting around R358,000<\/strong> by the time people reach the age of 30 (5 \u2013 9 years of experience).<\/p>\n

In South Africa, employees with between 10 \u2013 19 years of experience (thus in their 30s), draw an average salary of R510,000<\/strong> \u2013 a 42% increase from their late 20s.<\/p>\n

This is based on the reported salaries of 30,000 South Africans across all careers.<\/p>\n

More on salaries<\/h3>\n

How much you should be earning in your 40s in South Africa<\/strong><\/a><\/p>\n

Your salary vs the rest of the world<\/a><\/strong><\/p>\n

How much you should be earning in your 30s in South Africa<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

A new report shows how much the median wage is in South Africa, as well as how much money people earn according to their age, and their ethnicity.<\/p>\n","protected":false},"author":10,"featured_media":89390,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[26],"class_list":["post-139683","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/139683","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=139683"}],"version-history":[{"count":10,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/139683\/revisions"}],"predecessor-version":[{"id":140011,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/139683\/revisions\/140011"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/89390"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=139683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=139683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=139683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}