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

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JeffMan

Well-Known Member
Joined
Apr 5, 2013
Messages
238
je$$ie_jame$ said:
what???

but how?
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I can try answer more specific questions...

Pyro said:
Nice!
What type of work do you do?
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maumau said:
+1
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Sly21C said:
Impressive! Like someone has already asked, what work do you do?
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I am now a very senior manager at a non-bank financial institution. I don't really want to disclose more than that for privacy reasons.
My career progression has been: Engineering degree -> 4 years in banking IT -> 3 years in banking business (not IT) -> 2 years in FS (current job)
Dr Who said:
Jeffery my man - I have some questions for you:

Do you think your Salary is good, and will it allow you to live a comfortable life? Yes. Very comfortable.
If you look back 10 years what were you earning ? ( probably less than 10 yrs work experience ) R270k was starting salary
If you look forward 10 years, what do you think you will be earning?
Is there a level you feel you might plateau? I think that I will plateau soon in terms of salary, and the bulk of my remuneration growth will start being bonuses and long-term/share option related incentives. Honestly not sure in terms of 10 years from now. I could never have imagined 10 years ago that I'd be at my current level

If I compare yourself to myself, I do not earn what you do, but have also done fairly well. My biggest question is how does one enable oneself to purchase high value properties or accumulate real wealth? If I look back over 10 years I have done very well, but cant see how I would ever afford a R4mil property. But if a project forward my past success, then it should be much easier. However I understand that growth is not linear.
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I think (and I don't speak from experience) is that it's a gradual process. Live below your means, and put money away in growth assets (high interest/returns). Start setting up your life for a passive income - buy smaller properties and rent them out at the same value as your monthly costs - they then pay themselves off. If you can purchase one every few years, you are leveraging the bank's money to grow your asset portfolio and in 20 to 30 years, you'll own a few properties (that are hopefully more valuable than purchase price), and also have a regular passive income to supplement whatever you're earning.
 
H

hj007

Expert Member
Joined
Aug 30, 2006
Messages
1,866
35-40y old. married
my salary is 92k gross pm, pre bonus/long term schemes.
27.5% RA, then after tax and RA contribution net is R47k

household expenses (2 people)
R0k bond or cars, paid off
R6k pm on levies, rates and taxes, electricity, domestic.
R8.5k pm on life, health and short term insurance
R12k per month on groceries, toiletries, pets etc and eating out
R5k on the rest (petrol, holidays, entertainment, gifts etc)

we save around 50-70% of salary post tax (incl RA) if i incl. the wife salary
 
M

*Medusa*

Well-Known Member
Joined
Aug 5, 2010
Messages
396
hj007 said:
35-40y old. married
my salary is 92k gross pm, pre bonus/long term schemes.
27.5% RA, then after tax and RA contribution net is R47k

household expenses (2 people)
R0k bond or cars, paid off
R6k pm on levies, rates and taxes, electricity, domestic.
R8.5k pm on life, health and short term insurance
R12k per month on groceries, toiletries, pets etc and eating out
R5k on the rest (petrol, holidays, entertainment, gifts etc)

we save around 50-70% of salary post tax (incl RA) if i incl. the wife salary
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Impressive. What do you do for a living? Also no kids/school fees?
 
M

Messugga

Honorary Master
Joined
Sep 4, 2007
Messages
12,746
Mike Hoxbig said:
This thread is depressing...
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Why? You're also in the financial industry so you should be doing fairly well for yourself, surely? The opportunity is definitely there for you, at least.

Will probably find out in the next 3 months or so what my next increase and bonus will be. Bonuses are normally relatively healthy (R80-R100k) and I've not received less than a 10% increase in the last 3 years, so here's hoping. Unfortunately SARS ends up taking half of whatever I get extra :(
 
Pho3nix

Pho3nix

The Legend
Joined
Jul 31, 2009
Messages
30,589
Messugga said:
Why? You're also in the financial industry so you should be doing fairly well for yourself, surely? The opportunity is definitely there for you, at least.

Will probably find out in the next 3 months or so what my next increase and bonus will be. Bonuses are normally relatively healthy (R80-R100k) and I've not received less than a 10% increase in the last 3 years, so here's hoping. Unfortunately SARS ends up taking half of whatever I get extra :(
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Still contracting? Or have I gotten you mixed up with another forumite
 
TehStranger

TehStranger

Executive Member
Joined
Nov 19, 2012
Messages
6,088
Voicy said:
More depressing is that I'm renting a 1 bedroom flat and just the tax I'm paying here is more than twice what my salary was in SA. :/
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My wife's flat in the Netherlands (75sqm, 2 bed 1 bath) costs over R25,000 per month in rent, so I feel your pain. Actually I feel it worse because I earn rands and pay her rent in Euros. :(
 
Mike Hoxbig

Mike Hoxbig

Honorary Master
Joined
Apr 25, 2010
Messages
43,333
Messugga said:
Why? You're also in the financial industry so you should be doing fairly well for yourself, surely? The opportunity is definitely there for you, at least.

Will probably find out in the next 3 months or so what my next increase and bonus will be. Bonuses are normally relatively healthy (R80-R100k) and I've not received less than a 10% increase in the last 3 years, so here's hoping. Unfortunately SARS ends up taking half of whatever I get extra :(
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I'm doing ok, but nowhere close to R100k pm. Bonuses are decent though...
 
Cius

Cius

Executive Member
Joined
Jan 20, 2009
Messages
8,347
Congrats on the promotion JeffreyStal

Can also confirm my earnings and career are similar. My base salary is a fair bit lower than yours but due to me working in investment banking my bonuses can be over 50% my annual CtC bringing me up to about that per month, once a little more.

I was also Engineering -> Consulting via small firm to investment banks -> working for investment bank -> Promotions in investment bank.

I think the top of the finance industry in SA seems to have very high salaries compared to the average. When these salary surveys do the rounds I find salaries in my sector up to double what I see on those depending on seniority.
 
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