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What is a "good salary" in Kenya?
Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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Since one should pay no more than 1/3 of their net pay as rent, and a good stand-alone house in a leafy suburb goes for 250k per month, then a good salary should be at least 750k net, or about 1m gross.
For a middle class guy/middle level employee living in a 80k apartment in kileleshwa etc, a net of 240k or 300k gross would do.
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Rank: Member Joined: 4/26/2011 Posts: 759
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The question is, what is the average salary that will be considered good. the question is not, what should be the average salary that is considered good.
In order to come up with this number you have to look at job/careers that are considered "good" globally, the middle class type jobs. Finance manager, Doctors, engineers, IT( with bachelors), business managers etc.
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Rank: Member Joined: 6/21/2010 Posts: 345 Location: easto
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hardwood wrote:Since one should pay no more than 1/3 of their net pay as rent, and a good stand-alone house in a leafy suburb goes for 250k per month, then a good salary should be at least 750k net, or about 1m gross.
For a middle class guy/middle level employee living in a 80k apartment in kileleshwa etc, a net of 240k or 300k gross would do. Hehehe, this will be a very tough life. A gross of 300K gives you a net of 300*0.7+5500=215.5K. Even with a net of 300K and renting in the likes of Kilimani(say a 3br) you will really struggle.. or if you don't, you will save nothing. You will basically be living from hand to mouth. The question is so general.. because there are factors like where you are staying, size of your family and whether you have school going children "The problem with the world is that the intelligent people are full of doubts, while the stupid ones are full of confidence." ― Charles Bukowski
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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A good salary is the pay which lets you save 30% after meeting all your expenses If Obiero did it, Who Am I?
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Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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tnai9 wrote:hardwood wrote:Since one should pay no more than 1/3 of their net pay as rent, and a good stand-alone house in a leafy suburb goes for 250k per month, then a good salary should be at least 750k net, or about 1m gross.
For a middle class guy/middle level employee living in a 80k apartment in kileleshwa etc, a net of 240k or 300k gross would do. Hehehe, this will be a very tough life. A gross of 300K gives you a net of 300*0.7+5500=215.5K. Even with a net of 300K and renting in the likes of Kilimani(say a 3br) you will really struggle.. or if you don't, you will save nothing. You will basically be living from hand to mouth. The question is so general.. because there are factors like where you are staying, size of your family and whether you have school going children Maybe we should assume 1 spouse and 2 kids
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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tnai9 wrote:hardwood wrote:Since one should pay no more than 1/3 of their net pay as rent, and a good stand-alone house in a leafy suburb goes for 250k per month, then a good salary should be at least 750k net, or about 1m gross.
For a middle class guy/middle level employee living in a 80k apartment in kileleshwa etc, a net of 240k or 300k gross would do. Hehehe, this will be a very tough life. A gross of 300K gives you a net of 300*0.7+5500=215.5K. Even with a net of 300K and renting in the likes of Kilimani(say a 3br) you will really struggle.. or if you don't, you will save nothing. You will basically be living from hand to mouth. The question is so general.. because there are factors like where you are staying, size of your family and whether you have school going children what do you mean net of 300K and struggling? After paying rent, assuming a family of 4(Husband, wife and two kids) an income of 240K should be enough including taking the kids to LIALA SPLINGS and be able to still save upwards of 100K p.m. Ama, how do people spend their money? I could be missing out on life unless people are drowning in debts! If Obiero did it, Who Am I?
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Rank: Member Joined: 7/17/2011 Posts: 627 Location: Mbui-Nzau, Kikumbulyu
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the negros who park big cars under someones apartment ...??tychomentation
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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wanyee wrote:the negros who park big cars under someones apartment ...??tychomentation Where is the problem with that?who told you buying a house is an investment? If Obiero did it, Who Am I?
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Rank: Elder Joined: 10/3/2008 Posts: 4,058 Location: Gwitu
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wanyee wrote:the negros who park big cars under someones apartment ...??tychomentation Negros?? Hate Speech! Wapi ole Kaparo?! Truth forever on the scaffold
Wrong forever on the throne
(James Russell Rowell)
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Rank: Member Joined: 6/21/2010 Posts: 345 Location: easto
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Swenani wrote:
what do you mean net of 300K and struggling?
After paying rent, assuming a family of 4(Husband, wife and two kids) an income of 240K should be enough including taking the kids to LIALA SPLINGS and be able to still save upwards of 100K p.m. Ama, how do people spend their money? I could be missing out on life unless people are drowning in debts!
https://www.olx.co.ke/ad...D15Osp4.html#26032e72dc
Assume ksh 300K net salary: Monthly expenses Rent 95K Food 30K(Very very conservative) Shopping 20K Fuel(Assume 2 cars) 20K Fees 30K (per term 60K per child,120K per term(2kids)/4 months=30K) Water+ stima 10K Entertainment 20K 235K. Now you have 65K left. This is a must every month Contingencies?? Sacco?? Relatives?? Savings??? In my opinion, 300K net can only afford you fitting life in Kile/Kilimani if you live in your own house. Otherwise you will need to change lanes and do with langatas/South B/C/Ruakas/Burus etc "The problem with the world is that the intelligent people are full of doubts, while the stupid ones are full of confidence." ― Charles Bukowski
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