This article will highlight the current Parastatal salary scales in Kenya.
Parastatals are state corporations or public enterprises entirely controlled by the government. The government has complete control if it holds more than 95% of its share capital.
As a result, the parastatals have a lot of money; some pay less, while others pay more. ‘Less’ in this context is relative and does not refer to the lesser of other jobs. In general, parastatals are among the highest-paying institutions in Kenya.
The Eafeed team conducted a forensic investigation and is releasing the salary scales of Kenya’s highest-paying parastatals.
Kenyan Parastatals are among the best-paying institutions; several parastatals pay less than others.
Time after time, the SRC Salaries and Remuneration Commission releases new grading for pay structures on parastatals. This is mainly based on the CBAs signed and the country’s economic state at that particular time.
According to the latest grading on the SRC salary structure for parastatals. Even the chief heads of parastatals will not earn a salary exceeding KES1 million.
SRC used the Paterson grading system to determine the salaries of each individual based on their grading. The model classifies CEOs between class E and D1, the highest and lowest, respectively.
According to the SRC salary scale, the lowest-paid CEO in service and regulatory State corporations will earn KES253,333, while the highest will take home KES812,970 per month.
Types of Parastatals
This sector comprises 98 parastatals that offer services or are regulators in the market. They include the Kenya Institute of Curriculum Development (KICD), a service, and a regulator’s Retirement Benefits Authority.
Some service sector institutions charge a fee for their services, while others depend on the National Treasury for funding.
“The total number of jobs evaluated in service and regulatory corporations was 9,843 while those in commercial were 6,270,” said SRC Chairperson Sarah Serem.
Consulting partners Deloitte and Touche undertook the CEOs’ job evaluation. The new pay structure is expected to bring equity and harmony to the public sector.
Serem said the Commission considered several factors while preparing the pay structure, including budgetary allocation from the Exchequer, the institutions’ ability to pay, and salary survey.
She said the job evaluation aimed to determine an institution’s internal equity of jobs. The external ownership between institutions would facilitate the development of a harmonized Parastatal salary scale in Kenya.
Read Also: PSC Salary Scales in Kenya
Parastatal Salary Scales in Kenya
The Commission, however, clarified that CEOs currently earning more than KES1 million would continue to do so as the law does not permit the revision of salaries downwards.
“The structure is for four years when the government will do the next pay review. So those who are earning higher than our recommendations can continue to draw their pay. It’s only those starting CEOs who will be subjected to the new pay structure,” Serem said.
“The Commission’s desire, in the long run, is to have a salary structure that will ensure the principle of equal pay for work of equal value. This is important in ensuring stability and fair play of public institutions.”
According to Serem, the Parastatal salary scales in Kenya will break the notorious cycle of public servants shifting from one parastatal to others seeking better salaries while their productivity is vague.
Intelligent Service & National Security (NIS)
This is one of Kenya’s highest-paying state businesses. A newcomer might expect to earn between KES. 119,000 and KES. 165,000. This parastatal’s average compensation per employee is KES. 183,000.
If you want to learn more about how to register for their portal, go to this link and submit your profile and credentials to be notified of new job vacancies.
Central Bank of Kenya (CBK)
Here comes another government agency with substantial compensation packages for their staff. A fresh graduate in CBK earns roughly KES. 150,000, while a senior manager makes more than KES. 600,000. Employees in this body earn an average of KES. 200,000 per month.
Nairobi Stock Exchange (NSE)
This body works with investments; therefore, it is a hub for purchasing stocks and investments. one may access the share prices of publicly traded firms via the Nairobi Stock Exchange. NSE offers competitive pay.
A junior employee working as an actuary earns roughly KES 165,000 per month. However, this fluctuates depending on credentials. More than KES 300,000 is pocketed by senior staff.
Kenya Airports Authority (KAA)
This is just another government agency that lavishes its staff with money. This parastatal is in charge of administering Kenya’s airstrips and airports. Graduate trainees start with salaries ranging from KES 130,000 to KES 150,000.
If you are a skilled money manager, this type of compensation will motivate you to invest in various sectors. Most Kenya Airports Authority employees make more than KES 181,000 each month.
KenGen
KenGen is a power generation company. Electrical engineering, oil and gas, mechanical engineering, customer service, procurement and buying, civil engineering, and sales and marketing are among the significant talents and competencies required at KenGen.
A new graduate trainee at KenGen earns between KES 145,000 and KES 180,000. Seniors make between KES 450,000 and KES 650,000 per year. Other allowances push these incomes up to KES.1.3 million.
Kenya Electricity and Lighting Company
Kenya Power is a public organization that operates in the Kenyan energy industry. It is in charge of generating power for both home and industrial purposes. A graduate trainee engineer makes between KES130,000 and KES160,000 at Kenya Power, while a secretary gets between KES60,000 and KES120,000.
Commission on Ethics and Anti-Corruption
This parastatal is critical to ethics in both the public and commercial sectors. This body also wishes to set an excellent example for other parastatals. This body makes every effort to play its cards as well as possible regarding public perception.
Because of its delicate position, its staff receives good salaries to motivate them. A newcomer or recent graduate might earn between KES 120,000 and KES 144,000. Senior personnel receives large quantities of money as basic compensation, ranging from KES 350,000 to KES 650,000.
Kenya Revenue Authority (KRA)
This is another government agency with a long list of employees. KRA seldom advertises its job openings, but if you get a position as a recent graduate trainee, you may expect to earn between KES120,000 and KES165,000. Employees in senior positions make at least KES 450,000.
Communication Authority of Kenya
Another well-paying institution you should consider visiting is the Communication Authority of Kenya. You will undoubtedly be well compensated for whatever position you have at the school. A fresh graduate receives between KES 130,000 and KES 150,000 as the lowest paid graduate.
The National Environmental Management Agency (NEMA)
This organization is concerned with environmental issues such as pollution and environmental protection. Fresh graduates in NEMA earn around KES 80,000. Senior staff can take home up to KES 500,000.
Because of its delicate position, its staff receives good salaries to motivate them. A newcomer or recent graduate might earn between KES 120,000 and KES 144,000. Senior personnel receives large quantities of money as basic compensation, ranging from KES 350,000 to KES 650,000.
Advantages of the Salary Scales
Serem added that the salaries could also enhance productivity through partnerships. Partnering with unions in an endeavor to establish healthy industrial relations.
Serem told more than 100 CEOs and senior managers of State corporations that jobs in their institutions would be placed in salary grades as evaluated with a salary structure of 12 notches for each grade to ensure adequate progression and compression ratio.
The new Parastatal salary scales in Kenya will streamline operations in parastatals. It will ensure that servants are paid salaries relative to their contributions.
