How much you should be earning in your 40s in South Africa
Salary research group, PayScale, has updated its South African salary data, showing what South Africans with more than 20 years of working experience can expect to earn in 2018.
It is important to note that PayScale’s salary data is determined by years of experience, and not by age specifically. However, it can be assumed that experience and age are closely aligned if most employees leave university at age 21 – thus an individual with over 20 years of work experience should be over 40.
The salary data below also carries some caveats – primarily that it is an overall picture of median salaries, captured across all industries, for people who hold a bachelor’s degree.
Different career paths also “peak” at different times: economists at PayScale note that any career where the majority of training happens in school or within the first few years of work, will likely not see much pay growth after that.
Previous research conducted by PayScale showed that the jump from 30 to 40 is different for men and women, but still smaller for both. Women see their salaries slow down to under 20% by the time they’re in their 40s, while men see healthier average salary growth at 45%.
According to PayScale’s data for 2018, this is what South Africans in their 40s can expect to be paid (per annum) after 20 years of work experience:
- Over 20 years of experience: R732,500
The table below outlines how the median salaries across four major degree types differ, as well as the difference in salaries from the 10-19 years of work experience median.
The salary data is based off reported information by 25,900 South African employees with over 20 years working experience, updated as of February 2019. Figures represent the median salary.
This article originally appeared on BusinessTech. Click here to access.