KNBS report reveals the highest-paying Jobs in Kenya; the majority in the banking, and insurance sectors.
According to a new report released by the Kenya National Bureau of Statistics (KNBS), the highest-paying jobs in Kenya are in the banking and insurance sectors.
According to the report, 39.6% of employees in the two sectors earned more than KSh 100,000 per month in 2021.
Lenders are underwriters have a combined workforce of 77,754. Out of these the top earners were 30,787.
The average monthly salary during the period in Kenya was KSh 69,100.
Other highest-paying Jobs
Highest-paying sectors besides the financial and insurance sectors, the other highest-paying sectors and organizations are:
Kenya hosts the United Nations headquarters in Africa.
The General Assembly established the United Nations Office in Nairobi in 1996.
According to data from the multilateral organization, 26.6% of employees in international firms earn a six-figure salary.
Administrative and support service
According to the report, 24.4% of employees in administrative and support services in the formal sector are among the highest paid.
Executive assistants, financial clerks, and receptionists are among them.
Human health and social work
Surgeons and doctors are among Kenya’s highest-paid workers.
According to Salary Explorer, their salaries range from KSh 284,000 to KSh 836,000.
Their pay reflects the critical nature of their job, which necessitates extensive knowledge and a lengthy learning curve.
An estimated 23.5% of human health and social work workers are paid more than KSh 100,000.
Arts, entertainment, and recreation
According to PriceWaterhouseCoopers’ Entertainment and Media Outlook report, the Kenya entertainment market is worth more than KSh 300 billion.
Workers in the sector enjoy competitive salaries with a fifth of them in the top earners’ bracket.
Water and sewerage firms
Workers in the water and sewerage firms also fall in the top earners category.
Data by KNBS revealed that 20% of 15,173 employees in the sector earn over KSh 100,000.
Other top earners are employees in utility firms (18.2%), wholesale and retail trade (17.7%), Information and Communications Technology (13.2%), and education (13.1%).
The report comes after KNBS released another report that showed that additional 230,935 employees earning KSh 100,000 and above per month were not found in Kenya Revenue Authority’s tax fillings.
The report informed KRA’s steps to crack down on employers who evade taxes by under-declaring payrolls.
KNBS report further showed Kenyans earning above KSh 100,000 monthly rose from 79,909 in 2020 to 358,833 workers in 2021.
Out of this number, there are over 230,000 workers whose employers have been under-declaring their earnings.
The move will see thousands of workers pay taxes on perks like overtime, leave day, and per diem, which are not subject to the 30% PAYE.
The taxman directed employers to declare perks like lunch and travel allowances that are above KSh 2,000 per day.
Failure to deduct tax upon payment of emoluments to workers, the firms will be penalized by up to 25% of the evaded tax.