There’s no such thing as too much money. Okay, that’s debatable. But what’s certain is we could all do with a little more wiggle room in our budgets, right? And that means getting paid more. BUT! Is your salary on par with others in your field? Are you actually earning too little? Or are you just moaning? There are a few reports available that can give you an idea.
Quest, for instance, found in their survey that the median monthly salary of a Chartered Accountant with less than five years experience is R42,500 nationally – 14.2 times the lowest median salary of a cleaner/tea lady. They also found that employees with less than 5 years experience earn 7.3% more in Gauteng than everywhere else in the country.
Before you pack your bags, read a little more about what these surveys are all about.
The Quest Salary report
The Quest Salary & Staffing Trends 2014/15 report collected information from voluntary participants in June/July 2014 in an effort to gain insight into salary and staffing trends and to provide benchmarks to employers and employees. The results provide the median salaries across 38 key job functions, considering variables like temporary vs. permanent staffing, industry and province.
Be careful not to rely just on one report though – to get a broader view of your place in the market, you may want to also consider looking at the…
CareerJunction salary review
CareerJunction also recently compiled a review of the salaries in South Africa by using the information gathered on their site over the past six months. This one shows, in a few clicks, the full range of salaries for positions in certain fields.
It may not be all the salary data in South Africa, but it gives you a good view of the salaries of professionals at certain skill levels in the CareerJunction database – a substantial population from which you can view your own position.
Analysing the data
It’s great to get a better idea of where you’re at on the salary scale. But while these studies are helpful, the fact that we have not yet found a review of all salaries at all levels across the country means that there may be a lot more to our incomes than meets the eye.
Luckily for South Africans, the latest Global Wage Report revealed that the wages in developing countries are currently growing significantly faster than those in developed nations. Some forecast as much as a 7% increase over the next year! So one way or another, we’ve got a bit of an advantage.
Whatever the finer details, the trend across the board is always that people with rare skills (like engineering or medicine) are paid more and progress faster than those with skills that are in oversupply. So if you really want to get paid more don’t sit there and moan – get yourself a skill that nobody else has.