How much money do you earn? And how do you spend it?

je$$ie_jame$

Expert Member
Joined
Jul 8, 2014
Messages
1,152
It is average to be around R100k CTC pm for a mechanical engineer who specializes in its field and either got Pr. Eng. or GCC. It can be done, but normally you will have your own set of problems and will most likely not living in the big cities.
Yes on the mines. They get big bucks for mining in Africa.
 

Jchan11hk

Senior Member
Joined
May 12, 2014
Messages
608
PowerGen and Oil&Gas also can get that kind of salary, but Mining is the easiest to reach that level.
For building constructions or roads&bridges are a bit difficult.
 

GoB

Expert Member
Joined
Jan 7, 2008
Messages
1,408
6% (above average so I'm still underpaid).
But I've been on my way out... last 2 to 4 months now. Can't wait.

Wife may get a low or no increase for the first time. But we've been doing well.
 

ReeceDBN031

Senior Member
Joined
Aug 28, 2018
Messages
813
Really wish i could get a luck getting another position in another company.. banking industry increases are dismal..:confused:
 

Ancalagon

Honorary Master
Joined
Feb 23, 2010
Messages
15,510
Left my old job end of December. Started new job in February.

My new net is as high as my old gross, and I pay 20% of my salary to my pension. Company covers medical aid. Company also provides a 5% pension contribution in addition to my 20%.

Did I mention I live in the UK? Ha ha!
 

ZuBS1979

Member
Joined
Jun 28, 2013
Messages
13
7% increase

Emigration is resulting in a shortage of skills and larger increases than before.

Savings = 30% of gross
Bond 20%
Entertainment = 15%
 
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JeffMan

Well-Known Member
Joined
Apr 5, 2013
Messages
212
Been a while since my last update...

Switched jobs in March (from a smaller corporate to a bank).
Got a token raise in August (since I had been there for only a short time).

CTC is R1.5m per annum, and I get some extra benefits on reduced banking fees, and preferential interest rates on my home loans.
That's just over R126k gross.
From that, over R36k goes to PAYE.
Other deductions are around R15k (pension, compulsory life/health cover, UIF etc).

Monthly expenses:
  • R10k on a flat bond, levy and rates (recoup around R8.5k from rental income)
  • R11k on my home bond
  • R4.5k on rates, water and electricity
  • R8.5k on school fees (2 kids in nursery school)
  • R1.2k on gardener
  • R3k on wife's car (mines paid off)
  • R1.8k on petrol
  • R2.5k on short term insurance
  • R3k on life insurance, dread disease etc (this is on top of compulsory group life cover that comes from my CTC)
  • R5k on medical aid (but I cover a lot of medical expenses out of pocket)
  • R1.5k on generic medical expenses
  • R5-R6k on therapies for my older kid
  • Around R2k per month on extra murals (ballet, swimming etc)
  • R2k on telecoms (cell phones, fibre, spotify, Netflix, domain hosting)
  • R2.7k on donations to various charities
  • R1k per month on security
  • R600 on gym
  • R2k on savings
Wife also earns a variable salary each month - she usually covers our domestic worker's salary, her own life, dread disease and income protection cover.
Anything left from both our income goes to groceries, entertainment and spoiling our kids - not so good at putting money away at the moment.

EDIT: In March 2013 (found an old pay slip) I was earning R47.5k gross with a net pay of R30.7k
 
Last edited:

eehellfire

Executive Member
Joined
Sep 25, 2007
Messages
9,542
Really wish i could get a luck getting another position in another company.. banking industry increases are dismal..:confused:
It really depends on the bank and your level/seniority in the bank.
And your appraisal score, obviously.
Increases and bonuses at the bank I work at were quite reasonable for the good performers
 

RedViking

Nord of the South
Joined
Feb 23, 2012
Messages
20,813
Been a while since my last update...

Switched jobs in March (from a smaller corporate to a bank).
Got a token raise in August (since I had been there for only a short time).

CTC is R1.5m per annum, and I get some extra benefits on reduced banking fees, and preferential interest rates on my home loans.
That's just over R126k gross.
From that, over R36k goes to PAYE.
Other deductions are around R15k (pension, compulsory life/health cover, UIF etc).

Monthly expenses:
  • R10k on a flat bond, levy and rates (recoup around R8.5k from rental income)
  • R11k on my home bond
  • R4.5k on rates, water and electricity
  • R8.5k on school fees (2 kids in nursery school)
  • R1.2k on gardener
  • R3k on wife's car (mines paid off)
  • R1.8k on petrol
  • R2.5k on short term insurance
  • R3k on life insurance, dread disease etc (this is on top of compulsory group life cover that comes from my CTC)
  • R5k on medical aid (but I cover a lot of medical expenses out of pocket)
  • R1.5k on generic medical expenses
  • R5-R6k on therapies for my older kid
  • Around R2k per month on extra murals (ballet, swimming etc)
  • R2k on telecoms (cell phones, fibre, spotify, Netflix, domain hosting)
  • R2.7k on donations to various charities
  • R1k per month on security
  • R600 on gym
  • R2k on savings
Wife also earns a variable salary each month - she usually covers our domestic worker's salary, her own life, dread disease and income protection cover.
Anything left from both our income goes to groceries, entertainment and spoiling our kids - not so good at putting money away at the moment.

EDIT: In March 2013 (found an old pay slip) I was earning R47.5k gross with a net pay of R30.7k
No investments or savings?
 

JeffMan

Well-Known Member
Joined
Apr 5, 2013
Messages
212
No investments or savings?
It's there - R2k a month into savings (unit trusts) and an admission that savings aren't going well at the moment.
A bunch into an RA (and a decent amount in RAs from my previous jobs).
And a smallish amount (which should improve as years go by) in share incentives.

But, admittedly, I could be doing better in terms of putting more away.
 
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