See if you are getting paid enough with this tool

The Southern Africa Labour and Development Research Unit (SALDRU) at the University of Cape Town (UCT) has developed an income comparison tool to show how income is distributed – from the poorest to the richest in the country.

In four easy steps, you can find out where you are situated in South Africa’s income distribution and how your position in the country compares to the rest of the population.

A tweet by SALDU shared the link on Twitter.

Compare your salary at SALDRU:

“Most people are wrong about where they are located in the income distribution. This tool was designed to help people understand the nature and extent of South Africa’s inequality,” said SALDRU.

Within four steps you are able to see where your salary places your household in comparison to all South Africans.

BankservAfrica recently published its latest Take-Home Pay Index (BTPI) for May 2018, showing the average salary was R14,290 in current terms, down 1.3% from May 2017.

“Salary payments through our system indicate that the typical take-home pay was actually closer to R10,730 in May, which showed an increase of 2.8% before inflation from the typical take-home salary of R10,010 in constant 2016 terms. However, with inflation, typical salaries declined with 1.5%,” the group said.

Data published late last month by Stats SA, showed that the average monthly earnings paid to employees in the formal non-agricultural sector decreased from R20,060 in November 2017 to R19,858 in February 2018 – though this was up 5% year on year from R18,913 in February 2017. Expressed as an annual salary, this equates to R238,300 a year.

Employment however increased by 56 000 quarter-on-quarter, from 9 782 000 in December 2017 to 9 838 000 in March 2018.

SALDRU pointed out that it is not the first organisation to develop an income comparison tool.

Original Content : Wits Business Tech

  AUTHOR
Roneque Janse Van Rensburg
Digital Content Creator

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