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SHOCKED - Less than 15,000 Nairobian's earning above 100k
wangu.n
#181 Posted : Tuesday, June 16, 2015 4:10:07 PM
Rank: Member


Joined: 8/4/2009
Posts: 136
The number of bank accounts holding more than Sh100,000 rose by 78,160 last year to a record 1.1 million, reflecting rising personal fortunes and expansion of businesses in tandem with Kenya’s economic growth

http://www.businessdaily.../-/14qf8vwz/-/index.html
Shak
#182 Posted : Tuesday, June 16, 2015 6:25:54 PM
Rank: Elder


Joined: 2/22/2009
Posts: 2,216
Location: Africa
S.Mutaga III wrote:
mv_ufanisi wrote:
urstill1 wrote:
Wainadi wrote:
mv_ufanisi wrote:
Of course makes more sense to make 200k than earn 100k.

Not to those who are busy competing/comparing themselves with others.


The moment you get your 200k and they get their 350k and all of you go to the market to purchase goods and services is the moment yo'll know why some of us favour 100k.



You're assuming that you're the only people in the market. My take is this is in today's Kenya and you're in an office. Why should you choose to earn less just so you can out earn your office colleagues?

I would rather earn 200k as my nine colleagues earn 350k, as long as I am still far better than the next highest earning person in the market (outside my workplace).

Exactly! And the fact that the highest earner gets 350k will motivate me to work harder to reach his or her level unlike the one earning 100k who probably is already at the peak
Lolest!
#183 Posted : Tuesday, June 16, 2015 7:08:11 PM
Rank: Elder


Joined: 3/18/2011
Posts: 11,139
Location: Kianjokoma
[quote=wangu.n]The number of bank accounts holding more than Sh100,000 rose by 78,160 last year to a record 1.1 million, reflecting rising personal fortunes and expansion of businesses in tandem with Kenya’s economic growth

http://www.businessdaily...-/14qf8vwz/-/index.html[/quote]
hahaaa iko pesa kenya!

look at rents and the rising land prices yet there are always buyers

look at the road traffic issue. We're now at KCD. Pesa iko kwa wingi!
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
kysse
#184 Posted : Wednesday, June 17, 2015 10:19:36 PM
Rank: Elder


Joined: 1/17/2013
Posts: 4,693
Location: Earth
Shak wrote:
S.Mutaga III wrote:
mv_ufanisi wrote:
urstill1 wrote:
Wainadi wrote:
mv_ufanisi wrote:
Of course makes more sense to make 200k than earn 100k.

Not to those who are busy competing/comparing themselves with others.


The moment you get your 200k and they get their 350k and all of you go to the market to purchase goods and services is the moment yo'll know why some of us favour 100k.



You're assuming that you're the only people in the market. My take is this is in today's Kenya and you're in an office. Why should you choose to earn less just so you can out earn your office colleagues?

I would rather earn 200k as my nine colleagues earn 350k, as long as I am still far better than the next highest earning person in the market (outside my workplace).

Exactly! And the fact that the highest earner gets 350k will motivate me to work harder to reach his or her level unlike the one earning 100k who probably is already at the peak


Are these NET or GROSS?
Impunity
#185 Posted : Wednesday, July 01, 2015 4:34:26 AM
Rank: Elder


Joined: 3/2/2009
Posts: 25,735
Location: Masada
kysse wrote:
Shak wrote:
S.Mutaga III wrote:
mv_ufanisi wrote:
urstill1 wrote:
Wainadi wrote:
mv_ufanisi wrote:
Of course makes more sense to make 200k than earn 100k.

Not to those who are busy competing/comparing themselves with others.


The moment you get your 200k and they get their 350k and all of you go to the market to purchase goods and services is the moment yo'll know why some of us favour 100k.



You're assuming that you're the only people in the market. My take is this is in today's Kenya and you're in an office. Why should you choose to earn less just so you can out earn your office colleagues?

I would rather earn 200k as my nine colleagues earn 350k, as long as I am still far better than the next highest earning person in the market (outside my workplace).

Exactly! And the fact that the highest earner gets 350k will motivate me to work harder to reach his or her level unlike the one earning 100k who probably is already at the peak


Are these NET or GROSS?


Net of PAYE, NHIF and NSSF.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.

kayhara
#186 Posted : Wednesday, September 06, 2017 1:56:53 PM
Rank: Veteran


Joined: 5/5/2011
Posts: 931
can someone tell me how someone living in Nairobi works 8AM to 5PM Monday to Saturday survive on an 8k salary, working in town and living in Kawangware, wah kenyans are having it rough.
To Each His Own
Swenani
#187 Posted : Wednesday, September 06, 2017 7:15:51 PM
Rank: User


Joined: 8/15/2013
Posts: 12,671
Location: Vacuum
kayhara wrote:
can someone tell me how someone living in Nairobi works 8AM to 5PM Monday to Saturday survive on an 8k salary, working in town and living in Kawangware, wah kenyans are having it rough.


Pole sana @kayhara, Mwanaume ni kusurvive
Poverty is the root of all evil
Angelica _ann
#188 Posted : Sunday, September 10, 2017 1:44:02 PM
Rank: Elder


Joined: 12/7/2012
Posts: 9,529
Swenani wrote:
kayhara wrote:
can someone tell me how someone living in Nairobi works 8AM to 5PM Monday to Saturday survive on an 8k salary, working in town and living in Kawangware, wah kenyans are having it rough.


Pole sana @kayhara, Mwanaume ni kusurvive

Sad Sad Sad
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
mv_ufanisi
#189 Posted : Tuesday, October 03, 2017 5:06:14 PM
Rank: Member


Joined: 1/15/2010
Posts: 501
http://www.businessdaily...20826-vba7pj/index.html

There are more than 70,000 Kenyans earning above 100K who pay taxes and work in the formal sector.
Much Know
#190 Posted : Tuesday, October 03, 2017 7:08:35 PM
Rank: Elder


Joined: 12/6/2008
Posts: 3,435
mv_ufanisi wrote:
http://www.businessdailyafrica.com/news/Soft-economy-slows-down-growth-of-high-paying-jobs/539546-4120826-vba7pj/index.html

There are more than 70,000 Kenyans earning above 100K who pay taxes and work in the formal sector.

96% in the education sector, mostly garment graduate principlals, lecturers e.t.c.
A New Kenya
MugundaMan
#191 Posted : Monday, March 05, 2018 9:03:06 AM
Rank: Veteran


Joined: 1/8/2018
Posts: 930
Location: Future Dustbowl Citizen
Quote:

There are more than 70,000 Kenyans earning above 100K who pay taxes and work in the formal sector


Easy answers as to why this number is so low yet houses are coming up like weeds in far flung suburbs of Nairobi and the streets are clogged with gleaming vehicles.

1. Payslip nation (loud and vocal as it is) is just a very tiny chunk of the Kenyan economy. The Kenyan economy is dominated by corporates and the informal sector, which is the largest in Africa.. It might be a bitter pill to swallow for payslip nation, but that ka-hawker, taking to his heels fleeing kanjo daily while selling cheap Chinese goods on Tom Mboya street from 5pm to midnight (after spending the whole morning farming at his mugunda) probably makes more than the average payslipper per month, tax-free to boot.

2. One to ten person SME's earn a huge chunk of Kenyan income. The wise ones don't fritter away everything trying to pay themselves "high" salaries. They pump back earnings into organic growth.

3. A good number of small passive investors also do not appear in the numbers because their income is taxed at source as dividends and/or interest and thus will not show up in the struggling PAYE rolls.

4. Income and net worth are two different animals. I see some young corporates earning 500k+ per month doing PAYE thinking they are big shots, renting in Lavington, sipping martinis at Urban eatery with their gleaming BMW's (on loans of course) parked outside, fly to Zanzibar and Dubai monthly, yet own a big juicy zero. Contrast with some of the property site visits. Mama mboga types and sober young students with years worth of savings securing their future and getting ahead pole pole, a plot at a time.

5. Corruption:sad but true in Kenya. Trickle down effect down to the kept dogo dogo/ slay queen on the street. Let us pray and hope this will change in our lifetime.

6. Foreign investors. No secret that Kenya is a magnet for the middle classes from not just Somalia, S.Sudan, Uganda, Rwanda and so on, but increasingly, Europe and China and other nations as well. Like the french mama who came with 25 million after selling her house in Paris. That 25m is not captured in the numbers. Unfortunately she got swindled proper and lost it all.

7. Kenyan diaspora and diaspora returnees. Are huge investors hapo. Some toiled in New Jersey cleaning old white people's backsides for decades while you chekelead them, then came back to gently retire in comfort. Their savings also will not be captured in payslip nation statistics.

8. Serial borrowers. Usual they belong to category 1 above (payslip nation). Cars, furniture, even the shirt on their back is on loans. In Texas they say big hat, no cattle. Nuff sed.

8. Other factors beyond the scope of this post
"The best investment on earth is earth" **Target 1000**
winmak
#192 Posted : Monday, March 05, 2018 12:07:38 PM
Rank: Member


Joined: 12/1/2007
Posts: 384
Location: Nakuru
MugundaMan wrote:
Quote:

There are more than 70,000 Kenyans earning above 100K who pay taxes and work in the formal sector


Easy answers as to why this number is so low yet houses are coming up like weeds in far flung suburbs of Nairobi and the streets are clogged with gleaming vehicles.

1. Payslip nation (loud and vocal as it is) is just a very tiny chunk of the Kenyan economy. The Kenyan economy is dominated by corporates and the informal sector, which is the largest in Africa.. It might be a bitter pill to swallow for payslip nation, but that ka-hawker, taking to his heels fleeing kanjo daily while selling cheap Chinese goods on Tom Mboya street from 5pm to midnight (after spending the whole morning farming at his mugunda) probably makes more than the average payslipper per month, tax-free to boot.

2. One to ten person SME's earn a huge chunk of Kenyan income. The wise ones don't fritter away everything trying to pay themselves "high" salaries. They pump back earnings into organic growth.

3. A good number of small passive investors also do not appear in the numbers because their income is taxed at source as dividends and/or interest and thus will not show up in the struggling PAYE rolls.

4. Income and net worth are two different animals. I see some young corporates earning 500k+ per month doing PAYE thinking they are big shots, renting in Lavington, sipping martinis at Urban eatery with their gleaming BMW's (on loans of course) parked outside, fly to Zanzibar and Dubai monthly, yet own a big juicy zero. Contrast with some of the property site visits. Mama mboga types and sober young students with years worth of savings securing their future and getting ahead pole pole, a plot at a time.

5. Corruption:sad but true in Kenya. Trickle down effect down to the kept dogo dogo/ slay queen on the street. Let us pray and hope this will change in our lifetime.

6. Foreign investors. No secret that Kenya is a magnet for the middle classes from not just Somalia, S.Sudan, Uganda, Rwanda and so on, but increasingly, Europe and China and other nations as well. Like the french mama who came with 25 million after selling her house in Paris. That 25m is not captured in the numbers. Unfortunately she got swindled proper and lost it all.

7. Kenyan diaspora and diaspora returnees. Are huge investors hapo. Some toiled in New Jersey cleaning old white people's backsides for decades while you chekelead them, then came back to gently retire in comfort. Their savings also will not be captured in payslip nation statistics.

8. Serial borrowers. Usual they belong to category 1 above (payslip nation). Cars, furniture, even the shirt on their back is on loans. In Texas they say big hat, no cattle. Nuff sed.

8. Other factors beyond the scope of this post


Umeongea kama elders saba
For investors as a whole, returns decrease as motion increases ~ WB
Lolest!
#193 Posted : Thursday, April 26, 2018 11:43:26 AM
Rank: Elder


Joined: 3/18/2011
Posts: 11,139
Location: Kianjokoma
Quote:
The Economic Survey 2018, released Wednesday shows that workers offering financial and insurance services pocketed an average Sh146,630 per month, representing a growth of less than one per cent.

Reduced or slower growth in bankers’ profitability mainly due on commercial bank lending rates imposed September 2016 could be behind the measly pay increment.

Workers in institutions supplying electricity, gas and air-conditioning on average earned Sh134,442 monthly, up from Sh121,998 in 2016, representing rise of 10.2 per cent


This captures workers in firms like Kenya Power , Geothermal Development Corporation and KenGen .

Dominant sectors of the economy such as agriculture, which accounts for 31 per cent of gross domestic product, manufacturing (10 per cent) and real estate (7.8 per cent) paid the least, fuelling the growing pay inequality in Kenya.

Using the average wage as a yard stick in assessing sector earnings may, however, not paint a clear picture since senior staff ordinarily skew the rankings given that a majority of employees earn less than the average pay.

Firms in administrative and support services space remained the third-most lucrative employer in the private sector, registering average wages of Sh123, 685 per month, up Sh116, 156, reflecting a growth of 6.4 per cent.

https://www.businessdail...523564-oxum2f/index.html
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
kayhara
#194 Posted : Monday, August 13, 2018 10:25:18 AM
Rank: Veteran


Joined: 5/5/2011
Posts: 931
[TWEET]https://twitter.com/TweetingBandit/status/1028170633857966081[/TWEET]

https://drive.google.com/file/d/...wzX5xgkHJL6pSPjN8pY/view

https://www.standardmedia.co.ke/...useholds-earn-in-a-month
To Each His Own
murchr
#195 Posted : Thursday, August 23, 2018 7:23:53 PM
Rank: Elder


Joined: 2/26/2012
Posts: 13,590



Who is still shocked, I am. But this is the organized labor in the informal sector, a matatu driver makes about 30-50K
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
murchr
#196 Posted : Thursday, November 01, 2018 4:35:26 PM
Rank: Elder


Joined: 2/26/2012
Posts: 13,590
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
mv_ufanisi
#197 Posted : Thursday, November 01, 2018 5:11:53 PM
Rank: Member


Joined: 1/15/2010
Posts: 501
murchr wrote:


I hope KRA doesn't come after him. That is the downside of publicity.
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