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Thread: Salary increases

  1. #1
    Site Caretaker Dave A's Avatar
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    Salary increases

    Second round inflation effects, anyone?
    Salaries should increase on average by about 11,8% in 2008, an employment report released on Thursday shows.

    "We expect salary increases to average nearly 12% this year," said economist Mike Schussler who compiled the report for the United Association of South Africa trade union.

    "Higher inflation makes for high salary increases".

    In 2007 the average wage increase had been 9,2%.

    This had been 2,7% higher than the average CPIX for 2007.

    Schussler said many wage agreements were CPIX-plus-1% or 2%, plus productivity increases.

    Schussler said the average big company salary stood at R13 500.

    Speaking about the factors which determined earning capacity, Schussler said education still remained at the top.

    Someone with a Masters or PhD degree was likely to earn 432% more over their total lifespan than someone with only matric.

    Each year of tertiary education equated to 12 years of schooling in terms of increasing earning capacity.

    "Education is a real return on investment," said Schussler.
    full report from M&G here
    The trouble with opportunity is it normally comes dressed up as work.

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    Thanks for this thread Dave - 423% more with a Masters or PHD?

    Anybody know where to get figures on:

    Self employed rather than employed?
    Degree vs matric?
    Diploma vs matric?

    I have a very very very disinterested matric kid, soon to be amazing young man! I need ammunition!
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    Debbie
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    Site Caretaker Dave A's Avatar
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    I don't know how closely you looked at the survey done for the BEE submission, but if you look at question 4 - Qualifications and then Question 9 - Total staffing bill, it would seem that on average self employment might not pay as well as being employed by someone else.
    The trouble with opportunity is it normally comes dressed up as work.

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    Time to get the BSc CS

    My increase meeting is coming up, so interested to know this. There is also a website out there that averages salaries from all industries giving you a good comparison to what you should be earning.

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    Thanks Dave. This kid is challenging me more than I thought possible!
    Regards

    Debbie
    debbie@stafftraining.co.za

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