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What is a "good salary" in Kenya?
Rank: New-farer Joined: 11/12/2012 Posts: 92
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jaggernaut wrote:Some people say that someone should pay not more than 30% of their net pay for housing. For Nairobi a good stand-alone house with a compound in a good neighbourhood goes for 150-200K. Thus a net income (household, 2 person) of 450-600k per month could be considered good for Nairobi. There are very decent houses for around 35-45k in good neighborhoods. The problem with us is that we are never satisfied. There is a term for it called hedonistic treadmill. If you are paid 500k and your colleagues are paid 700k, you will be very miserable even though you are paid way more than median.
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Rank: Member Joined: 11/15/2010 Posts: 455 Location: Nairobi
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jaggernaut wrote:Some people say that someone should pay not more than 30% of their net pay for housing. For Nairobi a good stand-alone house with a compound in a good neighbourhood goes for 150-200K. Thus a net income (household, 2 person) of 450-600k per month could be considered good for Nairobi. The above suggested household income of 600k cannot be from salary, unless both of you are board members of a national commission (such as one investigating ADP. Waiganjo). FYI. the 10th House MPs were earning 200k p.m. as a salo, the rest were fringe benefits. I believe majority of the 'well paid' kenyans earns from 60k-120k. ....He who began a good work in you will carry it on to completion..
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Rank: Veteran Joined: 12/21/2011 Posts: 1,010
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Quote:I believe majority of the 'well paid' kenyans earns from 60k-120k. na wanaishi wepi with this? n they r the owners of cars in nairobi,how?
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Rank: Member Joined: 2/1/2010 Posts: 272 Location: Nairobi
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tinker wrote:jaggernaut wrote:Some people say that someone should pay not more than 30% of their net pay for housing. For Nairobi a good stand-alone house with a compound in a good neighbourhood goes for 150-200K. Thus a net income (household, 2 person) of 450-600k per month could be considered good for Nairobi. The above suggested household income of 600k cannot be from salary, unless both of you are board members of a national commission (such as one investigating ADP. Waiganjo). FYI. the 10th House MPs were earning 200k p.m. as a salo, the rest were fringe benefits. I believe majority of the 'well paid' kenyans earns from 60k-120k. I know a couple whose net household income is circa 840,000 p.m. husband is an FD multi-national and wife is banker. They have no kids. Both native Kenyans. The harder you work, the luckier you get
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Rank: New-farer Joined: 6/22/2011 Posts: 30
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First deduct 39.6% as tax, then mortgage payment, Car note, utilities and family maintenance expenses and last but not least entertainment expenses. What you left with depends on where you are in terms of financial growth and planing!!!
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Rank: Member Joined: 8/7/2010 Posts: 728 Location: Wazuaville
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The first question to ask is whether you are living in a good house. Good here is relative, but let me give you an example; Greenspan massionettes in Donii are good homes, now if the rent is within the 30% bracket then I think you are earning a good salary. In other words a Kenyan in Nairobi earning 120-150K p.m is earning a good salary. In the US a guy earning that kind of money (approx. 2K USD p.m can get by in the rural cities like Indiana and Ohio, but Boston, New York, such a guy is dirt poor) "Money never sleeps"
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Rank: User Joined: 1/5/2013 Posts: 66
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Living within your means matters but it also matters how large your means are. Anything from 200k above, to enable you to stash money for your nest egg and retire early.
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Rank: Elder Joined: 4/30/2008 Posts: 6,029
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In Kenya,you may not get an answer.For instance a lecturer in Narok university earning a net of 180k a month lives a better life than a Nairobian with a net of 250k.rent in Narok for a decent 3 bedroom bungalow is 12k,water is from a borehole,food is cheap,salary for maid is 2k,lunch is 200,fuel expenditure is 200 daily coz work is nearby,plus many other benefits.For the Nairobian it is a different ball game altogether.
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Rank: Elder Joined: 10/9/2008 Posts: 5,389
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mawinder wrote:In Kenya,you may not get an answer.For instance a lecturer in Narok university earning a net of 180k a month lives a better life than a Nairobian with a net of 250k.rent in Narok for a decent 3 bedroom bungalow is 12k,water is from a borehole,food is cheap,salary for maid is 2k,lunch is 200,fuel expenditure is 200 daily coz work is nearby,plus many other benefits.For the Nairobian it is a different ball game altogether. And tusker is just 100 Bob.
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Rank: Hello Joined: 3/6/2012 Posts: 8
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jaggernaut wrote:mawinder wrote:In Kenya,you may not get an answer.For instance a lecturer in Narok university earning a net of 180k a month lives a better life than a Nairobian with a net of 250k.rent in Narok for a decent 3 bedroom bungalow is 12k,water is from a borehole,food is cheap,salary for maid is 2k,lunch is 200,fuel expenditure is 200 daily coz work is nearby,plus many other benefits.For the Nairobian it is a different ball game altogether. And tusker is just 100 Bob. I can vouch for this i was born and brought up in Nairobi & got really depressed when i was transferred out to the rural areas. However this has changed. Though i can't say i am very well paid, i live in a beautifully finished three bedroomed house on its own quarter acre compound where i grow maize & kales paying kshs. 5,500 pm as rent and i am 5 minutes walk from my place of work, meaning i can wake up at 7.30am & still be early to work. needless to say i comfortably save 50% of my income every month.I enjoy an enhanced quality of life.
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What is a "good salary" in Kenya?
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