The average take-home pay for South Africans has declined by 7.5% in January compared to the same period last year when it was R15 467. 💵 Finances
The average take-home pay for South Africans has declined by 7.5% in January compared to the same period last year when it was R15 467. The average nominal take-home pay for January was R14 305, also somewhat lower than the R14 684 recorded in December. This data from the BankservAfrica Take-Home Pay Index shows that the challenging economy continues to take a toll on salary payments.
The BTPI is calculated monthly by dividing the total value of salaries paid into the bank accounts of employees, excluding salaries greater than R100 000 per month, by the total number of salary payments loaded onto the National Payment System and paid by an EFT message processed by BankservAfrica’s systems.
Many companies resort to redirecting their capital earmarked for investment towards self-sufficiency and becoming lessSlowly moderating inflation eating into take-home pay
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