Average Income Of Middle Class In South Africa

Economic growth perotti 1996.

Average income of middle class in south africa. Therefore do not expect the average salary mentioned in 2017 to be the same as that of 2019. The term country used interchangeably with economy does not imply political independence but refers to. Since people have different careers they do not get the same payments. The average salary south africa.

This means that the literal middle group in south africa comprises households earning between r380 and r1 140 per capita per month in 2008 money terms. A person working in south africa typically earns around 31 100 zar per month. Easterly 2001 2007 secondly changes in the middle income interval would help to assess whether growth has benefited the average south african in post 1994 south africa. The wealthiest households in south africa only account for 1 2 r1 48 million r2 36 million per annum.

Average income for it project manager is around 500 000 zar or more. Wages in south africa decreased to 21455 zar month in the second quarter of 2020 from 22387 zar month in the first quarter of 2020. Average income for more experienced senior software developer is around 400 000 zar or more per year. This is the average monthly salary including housing transport and other benefits.

Robust financial infrastructure in south africa. Wages in south africa averaged 14015 98 zar month from 2004 until 2020 reaching an all time high of 22500 zar month in the fourth quarter of 2019 and a record low of 6742 zar month in the first quarter of 2005. The average salary in south africa varies with each year. South africa s financial system is strengthened and and its banking sector is in the top 10 in the world.

The bank notes that 62 3 of households fall within the poorest income bracket below r86 000 per annum while middle income groups r86 001 r1 48 million per annum comprise a combined 26 4 of south african households. Salaries vary drastically between different careers. The classification tables include all world bank members plus all other economies with populations of more than 30 000. Similarly the pay one acquires for a specific profession varies in different countries.

The country and lending groups page provides a complete list of economies classified by income region and lending status and links to previous years classifications. The report used the gini coefficient a formula used by the world bank and other organizations to measure wealth distribution. According to a new report by the world bank south africa has the third highest income inequality in the world only below namibia and botswana. In analysing the actual middle of the income distribution in south africa for 2008 i use an interval of 50 to 150 of the median per capita income per month which was r759 in 2008.

Salaries range from 7 880 zar lowest average to 139 000 zar highest average actual maximum salary is higher.