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03.04.24 12:56

Economy

Highest paid job in South Africa is in financial services sector

The data has been released by the country's official statistics department

The latest quarterly employment report (QES) from Stats SA has revealed that 40 jobs in South Africa have earnings above the average gross salary. According to Stats SA (national statistical service of South Africa), average monthly earnings in the formal non-farm sector increased by 1,6 per cent from August 2023 to November to R26,894 (US$1430).

The annualised growth in average monthly earnings in the formal non-farm sector was 2,3% per cent, up from R26 298 (US$1398) in November 2022. Basic wages and salaries increased by 0.9 per cent from September 2023 to December to R857,4 billion (US$45,5 billion). Total gross income also increased by 5,8 per cent to R995.6bn (US$52,9 billion).

The analysis showed that the average gross salary in South Africa is R31 013.21 (US$1648), taking into account the more than 10,7 million employees in the informal agricultural sector. The statistics show that 40 out of 90 jobs examined in South Africa have earnings above the average gross wage.

Workers in financial intermediation in the financial services sector earn the highest average gross salary in the country at R69 466,16 (US$3,689).

Photo: iStock

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Nitin Gadkari

India's Union Minister for Road Transport and Highways

"Our resolution has just been passed. It is very important as far as the BRICS countries are concerned, which cover 40 per cent of the world's population. We are committed to the futuristic development of the transport sector, to create cooperation, coordination and communication between the stakeholders. This resolution indicates a lot of new technology and innovation in the transport sector. It covers the road sector, railways, aviation and water transport"

Prabowo Subianto

President of Indonesia

"This roadmap sets the framework for our joint efforts. Indonesia and Belarus have great potential for expanding cooperation in various fields. Our cooperation will focus on industrial development and agricultural modernisation. In industry, we see a major opportunity to increase trade volumes, investment, and cooperation between our two countries. We are also pushing for closer collaboration in culture and human resource development"

Liao Fan

Director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences (CASS)

"We also encourage countries of the Global South to work together and contribute to the global economy. We also call on developed countries to set aside issues such as national security and strategic competition when we are discussing real global challenges – pressing issues such as public health or poverty reduction – so that development resources can be channelled truly effectively to those countries that need them. [...] Major powers and large countries must bear greater responsibility for the well-being of people around the world. This is the responsibility of the major powers"

Anutin Charnvirakul

Prime Minister of Thailand

"Russia has been a trusted friend of Thailand for over a century. […] Next year, we will mark the 130th anniversary of the establishment of diplomatic relations between our countries. We will commemorate this important milestone with high-level exchanges, thereby reaffirming our shared commitment to an even stronger partnership for the benefit of our peoples"

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