Dar es Salaam — If you want to make money through employment, then go and be trained in activities that are related to finance and insurance, a new study shows.
The sector has maintained its lead as the best paying one in Tanzania, according to a report by the National Bureau of Statistics (NBS).
The NBS' Formal Sector Employment and Earnings Survey for Mainland Tanzania shows that the average salary for workers in the financial and insurance activities sector rose to Sh1.388 million in 2016, from Sh1.198 million in 2015.
Analysts say the sector attracts huge salaries due to the scarcity of skilled manpower, forcing employers to raise salaries as a way of attracting more and more workers.
"For instance, there is only college of higher learning in Tanzania that offers Degree course in Insurance... Employers are always competing for the few qualified individuals, resulting in a rise in salaries," said the Britam Insurance Tanzania chief executive officer Stephen Lokonyo.
Human resource experts believe since salaries are based on productivity of the sector as well as skills, the differences in earnings point to the fact that the best paying sectors have a large concentration of highly skilled employees who are normally well remunerated.
The report, which was released last week, show that those working in public administration, defence and compulsory social security receive the second highest salaries in Tanzania, averaging Sh1.293 million in 2016, up from Sh997,058 in 2015, the report says.
Electricity, gas, steam and air conditioning supply sector come in third slot in terms of payments, averaging Sh933,227 in 2016, slightly lower than an average of Sh1.021 million in 2015.
In the fourth place are those working in professional, scientific and technical activities where salaries averaged Sh987,634 in 2016.
However, NBS says, there was a wider cash earning gap between male and female employees in public administration and defence.
If you want to make a career in accommodation and food services sector, then get prepared to be one of the lowest paid workers, figures in the report show.
Workers in the sector received an average of only Sh200,881 in 2016, which was however, an improvement from an average of Sh159,753 that they received in 2015.
Workers in the manufacturing sector come second in the list of poorly paid individuals, with their average salaries pegged at Sh271,976 in 2016, a drop from Sh298,348 in 2015.
The third worst paid individuals in Tanzania are those who work in the administrative and support service activities where salaries averaged Sh305,480 in 2016, being a massive drop from an average of Sh424,420 in 2015
In agriculture, forestry and fishing, salaries dropped to Sh307,430 in 2016 from an average of Sh314,072.
Additional reporting by Gadiosa Lamtey