Salary earners will be happy to learn that salaries have started to grow in “real” terms – small but real. April’s nominal (average) salary eagled it out at R11 200, hooking cunningly past the inflation rate with a 7.1% rise on last year. That equals out at 1% in real terms when “inflation and other factors” are taken into account. This all according to information released by BankServAfrica’s regulated products CEO Brad Gillis. And, plucking figures from the BankServAfrica disposable salary index (BDSI) data, the bank was also able to show that the salaries of middle to high income earners were continuing to grow. And it defines this “middle to high” as being monthly salaries up to R100 000. Those who earn more “were not considered” in the BDSI – although BankServ monitors them separately. It did, however, throw in the teaser that its salary data revealed that the number of people earning at that level had risen year-onyear by 84% in February, and 27% in April.
