We all like to complain that we’re earning too little. It’s no surprise then that with the rising cost of living, thanks to the mismanagement of government funds, a volatile Rand, unemployment and the associated consequences like the rising price of petrol and VAT increases, it’s hard not to feel powerless and a little bit depressed when you check your pay slip every month.
So maybe a reality check is in order to see just how much you earn compared to the rest of South Africa and provide much-needed perspective on how dire the situation is for most of South Africans.
UCT’s Southern Africa Labour and Development Research Unit (SALDRU) created an online calculator to show you where you fit into our country’s income inequality landscape.
By taking into account the number of people per household and the combined post-tax earnings, your details are run through the system. There’s also a feature that allows you to indicate where you think you are on the income ladder.
Needless to say, you’ll be shocked to discover how much better off you are than most South Africans!
To give you a bit of an idea, here are just a some of SALDRU’s key findings:
• 10% of South African households have a budget of less than R350 per person per month.
• If your post-tax household income can afford each family member R3800 per month, you are in the top 20% of SA household earners.
The bottom line; Half of South Africans are chronically poor; only 20% belong to a “stable middle class” and a mere 4% belong to the elite rich.
So next time you start feeling uneasy about your earnings, consider yourself in a far better place than many other South Africans. The tool was created to change people’s perception of wealth distribution in South Africa.
Compare your income to the rest of South Africa in 4 easy clicks here.