What is Good Salary?
According to the census, the national average household income in 2019 was R1070987.64. A living wage would fall below this number while an ideal wage would exceed this number. Given this, a good salary would be R1169149.42.
How Much Is A Good Salary In south Africa?
In South Africa, an employee earns an average monthly salary of 31,100 ZAR or 374,000 ZAR per year. As per the exchange rates in February 2022, this equates to an average income of USD 24,169/year. The average monthly salary includes housing, transport, and other cost benefits.
What is a middle class salary in South Africa?
FNB categorized middle-income consumers as those who earn a gross monthly income of between R7,000 up to R60,000.
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.
What is considered high income 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.