The global nominal salary increase is forecast to rise to 3%, still lower than the 4% rise in 2019, while the real increase is anticipated to remain stable … While there has been a downward trend in annual salary increases in South Africa, inflation has also decreased during the period. If you are interested in the salary of a particular job, see below for salaries for specific job titles. Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience. 2020 was a year of uncertainty. Example:A graphic designer in the marketing department of a hospital. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. It’s so easy to use. Salary increases in 2020 were notably decreased in comparison to previous years, despite inflation levels remaining similar. Companies within thriving industries tend to provide higher and more frequent raises. Top 10 coolest jobs that you can actually have! Developing nations on average experienced only a 5.1% increase in 2020, which represents a reduction on 2019’s levels which saw an average increase of 6.9%. The average salary for Boilermaker in South Africa is R 20.210,32 per month. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary. 2021 projections show 87.4% of companies globally increasing salaries with far fewer implementing salary freezes. January 8, 2021, Looking ahead in 2021, there is certainly a lot of optimism in both employers and employees alike. Targeting and prioritising the increases is vital to ensure that most of this optimism is not misplaced. In most cases, a salary review is conducted once education is completed and the degree has been attained. South Africa | 2020/21 Average Salary … To give that figure some context, in 2019 we saw only a 0.4% spread between the quartiles. So without further ado, let’s take a look at the list of highest paid football players in South Africa. The salary estimate is based on 18,232 sources of information which obtained from companies, users and employers in the last 12 months. Closely related to the median are two values: the 25th and the 75th percentiles. Where can you get paid more, working for a private company or for the government? This highlights employer optimism for 2021. Percentage increase and decrease are relative to the previous value. Perhaps the strategic goal is to retain critical roles and to resolve any possible inequity issues. Companies, spanning sectors including e-commerce, energy, financial institutions and pharmaceuticals, are projected to increase compensation by an average 7.3% in 2021 compared to 6.1% — lowest since 2009 — this year, Aon said in the survey released Wednesday. ZAR AVERAGE. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation. However, some players can be above average with higher potential so they are paid even more highly. Minimum Wages in South Africa increased to 20.76 ZAR/Hour in 2020 from 20 ZAR/Hour in 2019. 7,880. All rights reserved. Staff Writer 10 December 2020 South African private-sector workers are set to receive an average pay rise of 5% in 2021, which is a cautious improvement … This page provides - South Africa Minimum Wages- actual values, historical data, forecast, chart, statistics, economic calendar … Salaries range from 7,880 ZAR (lowest average) to 139,000 ZAR (highest average, actual maximum salary is higher). Also from the diagram, 75% of the population are earning less than 81,100 ZAR while 25% are earning more than 81,100 ZAR. It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? R15,57. 2020 has been a tough year for business, resulting in muted salary increases across the globe. While the optimism shown by different countries gives off hints of cautiousness, 2021 will likely be a better year for salary increases. Information last updated on this page 2020/03/22. ZAR. Average All salary in South Africa. There are those who experienced a difference in impact due to the pandemic particularly across organisations in different industries. The recovery for many hard-impacted businesses won’t be smooth sailing, but the indication employers have given to returning to a more normal salary review cycle in 2021 is certainly reassuring. The previous year was R21 540 Average monthly earnings paid to … The decision really depends on your situation and experience among many other factors. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). Willis Towers Watson’s Salary Budget Planning Report, which studies the size of pay budgets at firms, also shows that in 2021 South African companies expect to offer average pay rises of 5.7%. Salaries range from 7,880 ZAR (lowest average) to 139,000 ZAR (highest average, actual maximum salary is higher). Simply enter your current monthly salary and allowances to view what your tax saving or liability will be in the tax year. Advanced 2020/21 Survey. R15,57. It’s easy to forget that salary increase budgets come directly from retained profits; therefore, it’s natural there will be fewer employees receiving a salary increase from a business whose profits have declined in 2020. Key findings: P0141 - Consumer Price Index (CPI), January 2021KEY FINDINGS AT JANUARY 2021 Headline consumer price index (CPI for all urban areas) Annual consumer price inflation was 3,2% in January 2021, up from 3,1% in December 2020. Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. 2021 represents optimism amongst employers, with many looking to increase salaries and provide bonuses for their employees. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Top 10 Highest Paying Careers in South Africa. Around 87% companies are planning pay hikes compared to 71% in 2020. Minimum Wage in South Africa-Contract Cleaners, valid on 2021 March We wrote a guide to explain all about the different scenarios. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. The average salary for a Principal / Headmaster in South Africa is R393,539. Both are indicators. Find out salaries in South Africa Professionals looking to increase their earnings most likely would need to seek new opportunities, however, new starters should still expect conservative salary increases when moving roles. The median salary is 29,900 ZAR per month, which means that half (50%) of the population are earning less than 29,900 ZAR while the other half are earning more than 29,900 ZAR. Salary increases in 2021 will need to be allocated in line with financials and influenced by clear business priorities. Inflation Rate in South Africa averaged 8.83 percent from 1968 until 2021, reaching an all time high of 20.70 percent in January of 1986 and a record low of 0.20 percent in January of 2004. People in top positions can easily get double or triple bonus rates than employees down the pyramid. The South African league has a considerable wage bill, with the average player salary calculated at around R100,000 per month. Those figures should be taken as general guidelines.