Friday, May 10, 2024

Revealed: Number of Kenyans who earn Sh. 100,000 and above monthly

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Salary Scale Kenya: The 2020 Kenya National Bureau of Statistics report on earning power among Kenyans has revealed the number of people who earn above Sh. 100,000. According to the report, the number of Kenyans earning more than Sh. 100,000 has increased by 2.71 percent to 84,907.

The report shows that Kenyans who earn more than Sh. 100,000 account for 2.9 percent of the 2.92 million formal workers who are captured in the Kenya Revenue Authority (KRA) database. At a minimum of Sh. 100,000, their pay was nearly six times the gross monthly per capita income of Sh. 16,833. Nearly three quarters or 74.58 percent of formal sector workers earned below Sh. 50,000, reflecting the income inequality. The earnings inequality has partly been attributed to the previous centralised system of government, which guided sharing of resources since independence.

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“However, the 2.9 percent share is not in line with luxury spending and accumulation of property, including purchase of homes and high-end cars that have been witnessed recently,” a report on the data that appeared in a local daily said.

In the previous KNBS data, only 79,982 were in this pay scale. “About 63.4 percent of men or 50,749 of them earned more than Sh. 100,000 compared to 29,233 women in this club, a gap of 21,516, which is roughly maintained in the other income bands. Three-quarters of Kenyans earn a monthly salary of below Sh. 50,000,” KNBS said in the previous report. “Those paid between Sh. 20,000 and Sh. 29,999 per month, are represented in this group with a population of one million or 36.3 percent of the total salaried workforce of 2.7 million. It also includes the largest absolute number of employees of 781,964 with an income band ranging from Sh. 30,000 to Sh. 49,999 which can be considered the start of the lower middle class earnings threshold. This group has expanded the most in the past five years, adding 113,615 over the period.” Salary Scale Kenya.

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