In South Africa, retail jobs vary in terms of salary, with some positions offering higher pay than others. Generally, management roles such as store managers or regional managers tend to earn the highest salaries in the retail sector. These positions require extensive experience and expertise in overseeing operations, managing staff, and driving sales. Additionally, specialized roles like luxury brand sales associates or store visual merchandisers can also command higher salaries due to the specific skills and knowledge required. However, it is important to note that salaries can vary depending on the company, location, and level of experience of the individual.
Which retail jobs pay the most South Africa?
Shoprite, with a market capitalization of R130 billion, surpasses the combined market capitalization of Pick n Pay and Spar, making it the largest retailer in the country.
What is the most stressful job in South Africa?
Pharma Dynamics, a mental wellness advocate, recently conducted a survey in South Africa to determine the most stressful jobs. The survey, which included nearly 2000 participants, examined various stress triggers such as job demands, deadlines, travel requirements, long working hours, public scrutiny, conflict management, and associated risks. The results revealed that pilots ranked as the most stressful profession due to the significant personal risk involved for both themselves and others. Additionally, the physically and mentally demanding nature of the job, coupled with the long and strenuous hours, contributed to its high stress rating. Hairstylists and farmers also ranked among the top three most stressful occupations.
What is a low salary in South Africa?
The minimum wage in South Africa has been updated as of March 1, 2023. The national minimum wage has been raised from ZAR2319 to ZAR2542 per hour. To learn more about these changes, please visit the minimum wage pages at the following links:
– https://www.mywage.co.za/salary/minimum-wage
– https://wageindicator.org/salary/minimum-wage/south-africa
Please note that this increase in the minimum wage may not necessarily align with inflationary trends. This information is cited from WageIndicator 2023 on WageIndicator.org.
What is the top 1% in South Africa?
On May 17, 2023, Knight Frank’s Wealth Sizing Model revealed that to be among the top 1% of the wealthiest individuals in South Africa, one would need a net wealth of 109,000 R208 million. The term “Top 1%” gained prominence during the global financial crisis, but the required wealth to join this elite group varies significantly from country to country.
For instance, to be part of Monaco’s richest 1%, a net worth of 124 million is necessary. Switzerland and Australia have the next highest entry points, requiring a net worth of 66 million and 55 million, respectively. In the United States, a net worth of 51 million will place you among the wealthiest 1% of the population.
In Asia, Singapore has the highest threshold, with 35 million USD required to be in the top 1%, surpassing Hong Kong’s requirement of 34 million USD. The Middle East’s highest entry point is in the UAE, where 16 million USD is needed. Brazil leads the Latin American markets, with a threshold of 430,000 USD.
These findings highlight how the pandemic and rising living costs have widened the wealth gap between rich and poor nations. The entry point for Monaco’s richest is over 200 times greater than the 57,000 USD needed to join the top 1% in the Philippines. In Kenya, the lowest-ranked country in the report, only 20,000 R381,000 is required to be among the top 1% of the wealthiest individuals.
According to the World Bank, lower-income households worldwide are experiencing the burden of inflation, which has forced them to allocate a larger portion of their income towards food and housing. Meanwhile, the world’s 500 richest people have collectively increased their fortunes by almost 600 billion USD this year.
The growing global inequality may lead to a greater focus on this group, particularly in terms of increased taxation on assets and even emissions, as suggested by Knight Frank’s Flora Harley.
Are salaries good in South Africa?
Stats SA has released its quarterly employment survey QES for the first quarter of the year ending March 2023. According to the data, the average salary in South Africa has decreased to R25304 per month, down 27 from the previous quarter’s R26002, but up 68 from the first quarter of 2022 at R23697.
The University of Cape Town’s Liberty Institute of Strategic Marketing has published data showing that a household needs to earn around R22000 to be considered middle class in South Africa. This means that the average formally employed non-agricultural worker in the country would fall into that category.
Total gross earnings paid to employees have decreased by R341 billion or 40%, from R8642 billion in December 2022 to R8300 billion in March 2023. This decrease is mainly due to declines in the trade, community services, manufacturing, construction, transport, and electricity industries. However, there have been increases in the business services and mining sectors.
Year-on-year, total gross earnings have increased by R432 billion or 55% between March 2022 and March 2023. Basic salary wages paid to employees have decreased by R118 billion or 16%, from R7512 billion in December 2022 to R7394 billion in March 2023. Bonuses paid to employees have also decreased by R225 billion or 252%, from R895 billion in December 2022 to R669 billion in March 2023.
According to the survey results, total employment has decreased by 21000 or 0.2% quarter-on-quarter, from 9991000 in December 2022 to 9970000 in March 2023. This decrease is mainly due to declines in the trade, business services, transport, and construction industries. However, there have been increases in the community services, mining, manufacturing, and electricity sectors. Year-on-year, total employment has decreased by 97000 or 1% between March 2022 and March 2023.
It is important to note that the QES data differs from the Quarterly Labour Force Survey (QLFS) as it reflects the number of people receiving salaries and does not reflect employment or unemployment trends, which are covered by the QLFS.
The QLFS for Q1 2023 showed a slight increase in the country’s unemployment rate. The official unemployment rate has increased by 0.2% from 32.7% in the fourth quarter of 2022 to 32.9% in the first quarter of 2023. However, according to the expanded definition, the unemployment rate has decreased by 0.2% to 42.4% in Q1 2023 compared to Q4 2022.
The results of the QLFS indicate that 179000 jobs were lost between the fourth quarter of 2022 and the first quarter of 2023. The total number of unemployed individuals was 7.9 million in Q1 2023. On the other hand, the number of employed persons has increased by 258000 to 16.2 million in the first quarter of 2023 compared to the fourth quarter of 2022.
For more information, read the article “Young middle-class South Africans struggling to make their salary last.”
What is the top 1 salary in South Africa?
In South Africa, the average salary already places individuals among the top 12% of income earners nationwide. However, to join the top 1% of the wealthiest South Africans, one would need to earn nearly six times more. According to the latest data from Stats SA, the average monthly salary for formally employed non-agricultural workers in South Africa is R25,304.
This average salary puts individuals in the top 12% of income earners in the country, meaning that 88% of the population is poorer. To be considered a top 1% earner, one would need a monthly salary of around R151,541, which is 598 times higher than the average income earner in the formal sector.
The World Inequality Lab database, created by an international network of over 100 academics, including Thomas Piketty and Nobel Prize winner Abhijit Banerjee, allows for comparisons of income inequality in 173 countries. The estimates are based on various sources, such as tax data, surveys, and other statistics.
To better understand the global significance of being among the top 1% of South Africa’s wealthiest individuals, Knight Frank’s Wealth Sizing Model compared this to 25 other countries. The report highlights that the wealth needed to join the top 1% varies considerably from country to country. For example, in South Africa, one would need to earn R206 million annually to be in the top 1%, while in Monaco, the wealthiest nation in the comparison, the entry point is R234.05 million.
Switzerland and Australia have the next highest entry points after Monaco, requiring a net worth of R124.6 million and R103.8 million, respectively. In the United States, a net worth of R97.7 million will place individuals in the top 1% of the country’s wealthiest people.
To put the wealth of these top countries into perspective, a recent study estimated that South Africans earning the average salary would have to work for at least 68 years to become a dollar millionaire. This means that the average South African would have to work for 843 years to be accepted into Monaco’s top 1%, 449 years to be in Switzerland’s top 1%, and 374 years to be among the wealthiest 1% in the USA.
However, being among the top 1% of income earners in South Africa is not without its challenges. Wealthy individuals often become targets for the government as a source of revenue. The South African Revenue Service (SARS) has shifted to an aggressive compliance mode and is focusing on wealthy taxpayers with complex financial structures and trusts. Trusts are commonly used by wealthy families and companies to protect assets, minimize taxes, and maintain privacy.
SARS has made it clear that it intends to target wealthy taxpayers, and it has strengthened its investigative capabilities. In September 2022, SARS announced an increased focus on trusts, which has resulted in better-than-expected tax revenues.
Furthermore, the concentration on wealthy individuals, along with issues such as poor service delivery, load shedding, and high crime rates, has led many wealthy individuals to consider emigrating from South Africa. This not only results in billions of lost tax revenue but also erodes the already shrinking tax base in the country.
The finance minister acknowledges the phenomenon of mobile higher-income earners and the impact it has on tax revenue. A significant proportion of revenue is generated from upper-income groups due to a relatively high personal income tax exemption threshold and high upper-income rates. Recent tax statistics from SARS show that thousands of South Africans have ended their tax residency in the country, resulting in R13 billion in assessed tax.
In conclusion, while being among the top 1% of income earners in South Africa may seem desirable, it comes with challenges such as increased government scrutiny and the potential loss of tax revenue. The concentration on wealthy individuals, along with other issues, has led many to consider emigrating from the country.
What is a livable salary in South Africa?
| 2016 | 2017 | 2018 | 2019 | |
| Minimum wage | 1284 | 2602 | 2602 | 3500 |
| Living Wage – Single Adult | 4450-6520 | 4480-6620 | 4560-6870 | 4870-7330 |
| Living Wage – Typical Family | 7690-10600 | 7780-10800 | 7890-11000 | 8240-11500 |
| Real wage of low-skilled worker | 3110-4400 | 2990-4220 | 3330-4660 | 3330-4680 |
| Real wage of medium-skilled worker | 6220-9680 | 6280-9780 | 6950-10700 | 6620-10200 |
| Real wage of high-skilled worker | 13000-20400 | 13400-20900 | 14800-22700 | 13700-21200 |
What are the top 3 retail?
| Rank | Company | 2022 worldwide retail sales (billions) | Expand all |
|---|---|---|---|
| 1 | Walmart | $600.94 | |
| 2 | Amazon.com | $343.33 | |
| 3 | Costco Wholesale | $217.53 | |
| 4 | The Kroger Co. | $147.62 | |
| 5 | The Home Depot | $155.42 | |
| 6 | Target | $107.59 | |
| 7 | CVS Health Corporation | $106.59 | |
| 8 | Walgreens Boots Alliance | $116.10 | |
| 9 | Lowe’s Companies | $93.61 | |
| 10 | Albertsons Companies | $76.15 | |
| 11 | Apple Stores / iTunes | $80.30 | |
| 12 | Royal Ahold Delhaize USA | $92.14 | |
| 13 | Publix Super Markets | $54.53 | |
| 14 | Best Buy | $46.19 | |
| 15 | Aldi | $124.25 | |
| 16 | TJX Companies | $48.94 | |
| 17 | Dollar General | $37.88 | |
| 18 | H.E. Butt Grocery | $36.80 | |
| 19 | 7-Eleven | $86.11 | |
| 20 | Dollar Tree | $28.36 | |
| 21 | Ace Hardware | $27.56 | |
| 22 | Macy’s | $24.36 | |
| 23 | Verizon Wireless | $23.17 | |
| 24 | AT&T Wireless | $21.28 | |
| 25 | Meijer | $21.18 | |
| 26 | BJ’s Wholesale Club | $20.49 | |
| 27 | Ross Stores | $18.70 | |
| 28 | Wakefern / ShopRite | $18.60 | |
| 29 | Rite Aid | $17.57 | |
| 30 | Kohl’s | $17.19 | |
| 31 | Nordstrom | $15.07 | |
| 32 | Tractor Supply Co. | $14.08 | |
| 33 | O’Reilly Auto Parts | $14.44 | |
| 34 | AutoZone | $16.07 | |
| 35 | Menards | $13.38 | |
| 36 | Gap | $15.30 | |
| 37 | Hy Vee | $12.44 | |
| 38 | Dick’s Sporting Goods | $12.28 | |
| 39 | Dell Technologies | $12.02 | |
| 40 | Health Mart Systems | $11.90 | |
| 41 | Wegmans Food Market | $11.88 | |
| 42 | Alimentation Couche-Tard | $14.30 | |
| 43 | Sherwin-Williams | $12.36 | |
| 44 | Giant Eagle | $10.65 | |
| 45 | Wayfair | $12.13 | |
| 46 | Ulta Beauty | $10.21 | |
| 47 | Chewy.com | $10.10 | |
| 48 | WinCo Foods | $9.85 | |
| 49 | Qurate Retail | $11.80 | |
| 50 | Good Neighbor Pharmacy | $8.84 | |
| 51 | Burlington | $8.68 | |
| 52 | Williams-Sonoma | $8.57 | |
| 53 | Amway | $8.10 | |
| 54 | Army and Air Force Exchange Service | $7.88 | |
| 55 | PetSmart | $7.99 | |
| 56 | Signet Jewelers | $8.32 | |
| 57 | Chedraui | $12.64 | |
| 58 | Northeast Grocery | $7.20 | |
| 59 | J.C. Penney Company | $7.16 | |
| 60 | Bass Pro | $7.62 | |
| 61 | Camping World | $6.98 | |
| 62 | Bath & Body Works | $7.61 | |
| 63 | Southeastern Grocers | $6.94 | |
| 64 | Sephora (LVMH) | $14.52 | |
| 65 | Dillard’s | $6.84 | |
| 66 | Hobby Lobby Stores | $6.84 | |
| 67 | AVB Brandsource | $6.85 | |
| 68 | Staples | $7.95 | |
| 69 | Sprouts Farmers Market | $6.40 | |
| 70 | Academy Sports | $6.40 | |
| 71 | Discount Tire | $6.23 | |
| 72 | Foot Locker | $7.89 | |
| 73 | True Value Co. | $5.92 | |
| 74 | Petco | $6.04 | |
| 75 | Ikea North American Svcs | $45.14 | |
| 76 | Victoria’s Secret | $6.17 | |
| 77 | Raley’s Supermarkets | $5.53 | |
| 78 | Big Lots | $5.47 | |
| 79 | Piggly Wiggly | $5.35 | |
| 80 | Harbor Freight Tools | $5.35 | |
| 81 | Michaels Stores | $5.87 | |
| 82 | Office Depot | $7.42 | |
| 83 | My Demoulas | $4.95 | |
| 84 | Total Wine & More | $4.94 | |
| 85 | Hudson’s Bay | $9.66 | |
| 86 | Stater Bros Holdings | $4.85 | |
| 87 | Advance Auto | $4.82 | |
| 88 | Casey’s General Store | $4.78 | |
| 89 | Weis Markets | $4.70 | |
| 90 | Exxon Mobil Corporation | $4.96 | |
| 91 | Neiman Marcus | $5.24 | |
| 92 | Ingles | $4.59 | |
| 93 | Lululemon | $5.78 | |
| 94 | Save-A-Lot | $4.43 | |
| 95 | Defense Commissary Agency | $4.40 | |
| 96 | Tapestry | $6.67 | |
| 97 | American Eagle | $5.57 | |
| 98 | Shell Oil Company | $4.79 | |
| 99 | Schnucks | $4.02 | |
| 100 | Barnes and Noble Booksellers | $3.75 |
How much money cashiers are paid at South Africa’s largest retailers?
| Driver type | Area A | Area B |
|---|---|---|
| General assistant/Trolley collector | R4 521.70 | R4 521.70 |
| Security guard | R4 521.70 | R4 521.70 |
| Forklift operator | R4 521.70 | R4 521.70 |
| Merchandiser/Shop Assistant/Checker/Deli Assistant | R4 521.70 | R4 521.70 |
| Cashier | R5 003.32 | R4 521.70 |
| Clerk/Sales Assistant | R5 888.55 | R5 188.55 |
| Displayer | R6 112.78 | R5 016.96 |
| Supervisor | R7 241.74 | R6 296.07 |
| Trainee manager | R7 822.80 | R6 730.88 |
| Assistant manager | R8 514.99 | R7 413.22 |
| Manager | R9 337.83 | R8 039.23 |
Conclusion
What is the top 1% in South Africa?
The top 1% in South Africa refers to the wealthiest individuals in the country who earn the highest salaries. According to recent data, the top 1% in South Africa earns an average annual income of around 1.5 million South African Rand (ZAR). This elite group consists mainly of high-ranking executives, business owners, and professionals in lucrative industries such as finance, technology, and law.
What is a low salary in South Africa?
A low salary in South Africa is typically considered to be below the national minimum wage, which currently stands at ZAR 21.69 per hour. However, it is important to note that the cost of living in South Africa can vary significantly depending on the region and individual circumstances. Therefore, what may be considered a low salary in one area might be sufficient in another.
Are salaries good in South Africa?
Salaries in South Africa can vary greatly depending on factors such as education, experience, and industry. While the top earners in the country enjoy high salaries, the majority of the population earns modest incomes. Many South Africans struggle to make ends meet, with a significant portion of the population living below the poverty line.
Despite this, there are still opportunities for individuals to earn good salaries in certain sectors. Industries such as mining, finance, and information technology tend to offer higher-paying jobs. Additionally, individuals with specialized skills and qualifications are more likely to command higher salaries.
What is the most stressful job in South Africa?
Determining the most stressful job in South Africa can be subjective, as stress levels can vary depending on individual experiences and coping mechanisms. However, certain professions are commonly associated with high levels of stress. These include jobs in the healthcare sector, such as doctors and nurses, who often face long working hours, high-pressure situations, and emotional strain.
Conclusion:
In conclusion, the top 1% in South Africa earns an average annual income of around 1.5 million ZAR, consisting mainly of high-ranking executives and professionals in lucrative industries. A low salary in South Africa is typically below the national minimum wage, but the cost of living can vary across regions. While salaries in South Africa can be good in certain sectors, the majority of the population earns modest incomes, with many living below the poverty line. The most stressful jobs in South Africa are often found in the healthcare sector, where long hours, high-pressure situations, and emotional strain are common. Overall, the salary landscape in South Africa is diverse, with opportunities for both high and low earners, but the country still faces significant income inequality and economic challenges.
Sources Link
https://wageindicator.org/salary/living-wage/archive-no-index/south-africa-living-wage-series-september-2019
https://businesstech.co.za/news/wealth/702805/how-much-you-need-to-earn-to-be-in-the-richest-1-in-south-africa/
https://dailyinvestor.com/south-africa/17538/how-much-money-you-need-to-be-in-south-africas-top-1/
https://nrf.com/research-insights/top-retailers/top-100-retailers/top-100-retailers-2023-list
https://wageindicator.org/salary/minimum-wage/minimum-wages-news/2023/minimum-wage-updated-in-south-africa-from-01-march-2023-february-25-2023
https://businesstech.co.za/news/business/634959/how-much-money-cashiers-are-paid-at-south-africas-largest-retailers/
https://businesstech.co.za/news/wealth/699287/the-average-salary-in-south-africa-right-now/
https://www.caglobalint.com/post/the-15-least-stressful-high-paying-jobs-in-south-africa-1/
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