South Africa, a country of rich diversity and unparalleled natural beauty, boasts a multifaceted economy. From the bustling streets of Johannesburg to the beautiful landscapes of the Cape Winelands, South Africa is a nation that thrives on its people’s resilience and determination. The average salary in South Africa can tell us a lot about the country and its challenges. It provides insight into the social and economic landscape of this beautiful nation.
So, why is understanding the average salary in South Africa necessary? The answer lies in the range of economic opportunities it presents. It can help job seekers and entrepreneurs by providing valuable information about what the market needs so they can make better choices about their careers and investments. It can also help policymakers and economists better understand the country's economic situation, which can inform policies that promote growth and prosperity for all.
And here’s a fun fact to add a splash of colour to this economic canvas: the South African rand, the country’s currency, showcases the majestic Big Five animals on each banknote. Lions, elephants, buffaloes, leopards, and rhinoceroses aren’t merely symbols of the wild; they embody South Africa’s testament to how deeply wildlife intertwines with South African culture and economy.
What is the average salary in South Africa?
According to Stats SA and their quarterly employment survey (QES), the average income in South Africa is (gross) R303,648 per year or R25,304 per month. This quarter's data shows a 2.7% decrease from the previous quarter and a 6.8% increase from the first quarter of 2022.
What is a good salary in South Africa?
A good salary in South Africa depends on a number of factors, including your experience, education, industry, location and lifestyle. However, according to data from Numbeo, a salary of R30,000 or more per month is considered to be good. This income would allow you to live comfortably in a major city like Johannesburg or Cape Town and have some money left to save or invest.
Of course, there are many people in South Africa who earn less than R30,000 per month, especially in rural areas. This figure is 18.55% more than the average salary levels in South Africa.
The salaries below have been sourced from Salary Expert and Payscale.
Average salary in South Africa by city
From the data above, it’s clear that cities with higher populations yield higher earnings. However, this trend is not specific to South Africa but is observed worldwide.
Average salary in South Africa by industry
The South African job market is highly dynamic, with the most in-demand industries constantly changing. However, some industries have remained consistently popular over the years.
Average salary in South Africa by Profession
Understanding the average salary of a particular industry can be a useful starting point, but it doesn’t always provide a comprehensive overview. So, we’ve delved deeper to offer a more detailed breakdown of the most in-demand occupations within each industry, along with their corresponding average salaries.
1. Information Technology
IT is a rapidly growing industry in South Africa, with a high demand for qualified IT professionals. This high demand is driven by several factors, including the digitisation of businesses and the increasing reliance on technology.
South Africa has a healthcare system that covers everyone, regardless of their financial status. Due to the country's significant healthcare disparities and high disease burden, there is a considerable demand for healthcare professionals. Implementing the National Health Insurance (NHI) has further increased the demand for healthcare services.
South Africa is a significant financial hub in Africa, and there is a considerable demand for finance professionals in the country. The financial sector in South Africa is well-established and varied, providing an array of opportunities.
The engineering sector plays a crucial role in driving South Africa's economy, especially in areas like mining, infrastructure development, and renewable energy. The demand for engineers continuously increases as the country invests in major projects and expands its industrial base.
South Africa's high demand for educators is influenced by various factors, including the country's young population and the government's dedication to enhancing education accessibility. As a result, there’s a growing need for educators from early childhood to tertiary institutions.
Average salary in South Africa by the highest-paid profession
Although the average salary in South Africa is on the lower end of the global income scale, some professions within the country offer high wages.
It's worth noting that salaries can vary widely within each profession. This depends on factors like the job title, experience, and location. For instance, a senior accountant with a decade of experience will generally earn a higher salary than, say, a junior lawyer without experience.
Average Income in South Africa compared to other countries
To provide a broader perspective on South Africa’s economic well-being, let’s compare salary levels in South Africa to those of other countries around the world.