Gross Salary Calculator – Uganda
Key Takeaways:
- Gross salary is a crucial component of your overall income in Uganda.
- Understanding the factors that affect gross salary can help you negotiate better compensation.
- The tax system in Uganda has different brackets and rates that impact your take-home pay.
- Consider the cost of living when evaluating your gross salary to ensure it meets your financial needs.
- Research job opportunities and industries with higher gross salaries to explore income growth potential.
Understanding Gross Salary
When it comes to understanding your income and financial stability, it is crucial to have a clear grasp of your gross salary. Gross salary refers to the total amount of money you earn before any deductions or taxes are taken out. It serves as the foundation for calculating your net salary, which is the amount you actually receive in your bank account.
The components of gross salary can vary depending on the organization and the industry. However, the main elements typically include your basic salary, allowances, and bonuses. Your basic salary is the fixed amount that you receive for your work, excluding any additional payments or incentives. Allowances, on the other hand, are supplementary amounts that are provided to cover specific expenses, such as housing or transportation. Bonuses, which can be performance-based or given on special occasions, are additional payments that are added to your gross salary.
In simple terms, gross salary is calculated by adding up your basic salary, allowances, and bonuses. This total amount represents the value of your work and the compensation you receive for your contributions to the organization.
“Understanding gross salary is essential for individuals as it forms the basis for various financial decisions and planning. By knowing the components that make up your gross salary, you can better negotiate your compensation packages, evaluate job offers, and budget your expenses.”
It is important to note that while gross salary provides a clear picture of your earning potential, it does not reflect your take-home pay. Deductions such as taxes, social security contributions, and other benefits will be subtracted from your gross salary to arrive at your net salary. Therefore, it is vital to keep these deductions in mind when assessing your financial situation.
The Calculations Behind Gross Salary
Calculating gross salary involves more than just adding up numbers. It requires a careful analysis of the various elements that constitute your total compensation package. Let’s take a closer look at the calculations involved:
- Basic Salary: This is the fixed amount that you receive for your work on a regular basis. It forms the core of your gross salary and serves as a starting point for any additional earnings or deductions.
- Allowances: These are supplementary amounts that are provided to cover specific expenses. Examples include housing allowances, transportation allowances, or meal allowances. The value of these allowances varies based on company policies and the cost of living in your area.
- Bonuses: Bonuses are additional payments that are either performance-based or given on special occasions. They can significantly impact your gross salary, boosting it to higher levels. Performance-based bonuses are typically tied to individual or team achievements, while special occasion bonuses may be given during holidays or company milestones.
By understanding the components of your gross salary and the calculations involved, you can gain a better understanding of your overall compensation package. This knowledge empowers you to make informed decisions about your financial future and negotiate fair and competitive salaries.
| Component | Description |
|---|---|
| Basic Salary | The fixed amount you receive for your work. It does not include allowances or bonuses. |
| Allowances | Supplementary amounts provided to cover specific expenses, such as housing or transportation. |
| Bonuses | Additional payments given on top of your basic salary. These can be performance-based or given on special occasions. |
Factors Affecting Gross Salary in Uganda
In Uganda, several factors play a crucial role in determining an individual’s gross salary. Understanding these factors can help job seekers, employees, and employers navigate the complexities of salary negotiations and make informed decisions regarding compensation. Let’s explore the key factors that influence gross salary in Uganda.
1. Education Level
An individual’s level of education is a significant factor in determining their gross salary. Generally, individuals with higher levels of education, such as a bachelor’s or master’s degree, are more likely to command higher salaries.
2. Work Experience
Work experience is another essential factor that affects gross salary in Uganda. The more experience an individual has in their field, the more valuable they become to employers. As a result, experienced professionals often earn higher salaries compared to their less experienced counterparts.
3. Industry and Job Role
The industry in which a person works and their specific job role significantly impact their gross salary. Certain industries, such as finance or IT, tend to offer higher salaries compared to others. Additionally, managerial or executive positions often come with greater financial rewards.
4. Demand for Specific Skills
The demand for specific skills can greatly influence an individual’s earning potential in Uganda. In industries where certain skills are in high demand and low supply, professionals with these skills may command higher salaries due to their scarcity and value in the job market.
5. Company Size and Financial Health
The size and financial health of the employing company can also impact an individual’s gross salary. Larger, more financially stable organizations often have more resources to offer competitive salaries and benefits packages, while smaller companies may have budget constraints that limit their ability to offer higher salaries.
6. Geographical Location
The geographical location within Uganda can influence gross salaries. Cities with a higher cost of living, such as Kampala, may offer higher salaries to compensate for the increased expenses. Conversely, rural areas or less developed regions may have lower salary scales.
7. Performance and Achievements
An individual’s performance and achievements within their role can impact their gross salary. Employees who consistently perform well, exceed expectations, and contribute significantly to the organization may be rewarded with salary increases, bonuses, or promotions.
These factors interact and work together to determine an individual’s gross salary in Uganda. Understanding their influence is essential for both job seekers and employers seeking fair and competitive compensation packages. By considering these factors, individuals can make informed decisions regarding their career choices and salary negotiations.
Salary Comparison: Expats vs. Local Employees
In Uganda, there are significant differences in gross salaries between expatriates and local employees. These differences arise from a variety of factors, including market demand, skill shortages, and cost of living disparities.
Expatriates, who are foreign workers employed in Uganda, often command higher salaries compared to their local counterparts. This can be attributed to several reasons. Firstly, expatriates typically possess highly specialized skills that are in high demand but limited supply locally. As a result, companies are willing to offer higher salaries to attract and retain these talents.
Another factor contributing to the salary disparity is the cost of living differential between Uganda and expatriates’ home countries. Expatriates often require additional incentives to cover the higher living expenses they incur while working abroad. This can include benefits such as housing allowances, education allowances for their children, international health insurance, and flights back home.
On the other hand, local employees in Uganda may face lower salaries due to multiple factors. One such factor is the availability of a larger pool of talent with similar skill sets. This greater supply of local talent can create more competition, leading to lower salary offers.
In addition, the lower cost of living in Uganda compared to expatriates’ home countries impacts salary levels for local employees. Local employees often have a more affordable standard of living, which can be reflected in their salaries.
The salary comparison between expatriates and local employees has implications for both the workforce and the Ugandan economy. The higher salaries of expatriates can lead to income inequality within the labor market, potentially affecting local employees’ job satisfaction and motivation. It can also create challenges for local businesses that may struggle to compete with the higher salaries offered to expatriates.
However, attracting foreign talent can also have positive effects on the economy, such as knowledge transfer and skills development. Expatriates bring diverse perspectives, international networks, and specialized expertise, which can contribute to the growth and development of industries within Uganda.
Overall, the salary comparison between expatriates and local employees in Uganda reflects the complexities of a global labor market. It underscores the importance of understanding the factors that influence salary levels and the need for fair remuneration practices that balance competitiveness, equity, and economic considerations.
| Expatriates | Local Employees |
|---|---|
| Higher gross salaries | Lower gross salaries |
| Specialized skills in high demand | Greater availability of local talent |
| Additional benefits for cost of living | Affordable standard of living |
| Income inequality implications | Potential challenges for local businesses |
| Knowledge transfer and skills development | Contributions to industry growth |
Taxation on Gross Salary in Uganda
Understanding the tax system is crucial when it comes to managing your gross salary in Uganda. By familiarizing yourself with the different tax brackets, rates, and deductions, you can ensure that you are properly accounting for your taxes and maximizing your take-home pay.
Tax Brackets and Rates
Uganda operates on a progressive tax system, which means that tax rates increase as income levels rise. The current tax brackets range from 10% to 40%, with different rates applied to different income ranges. By knowing which tax bracket you fall into, you can calculate your tax liability more accurately and plan your finances accordingly.
The following table provides an overview of the tax brackets and corresponding rates for the 2021/2022 tax year in Uganda:
| Income Range (UGX) | Tax Rate |
|---|---|
| 0 – 235,000 | 0% |
| 235,001 – 335,000 | 10% |
| 335,001 – 410,000 | 20% |
| 410,001 – 10,000,000 | 30% |
| 10,000,001+ | 40% |
It’s important to note that these rates are subject to change, and it’s advisable to consult the Uganda Revenue Authority (URA) or a tax professional for the most up-to-date information.
Deductions and Allowances
In addition to tax brackets and rates, there are various deductions and allowances that can further impact your net salary. Some common deductions include:
- Employment-related expenses (e.g., medical insurance premiums, pension contributions)
- Statutory deductions (e.g., National Social Security Fund, Pay As You Earn)
- Specialized allowances for specific professions (e.g., housing allowances for diplomats)
These deductions can reduce your taxable income and ultimately lower your overall tax liability. It’s essential to keep track of your eligible deductions and ensure that you claim them accurately.
“Understanding the tax system is crucial when it comes to managing your gross salary in Uganda.”
By comprehending the tax brackets, rates, and deductions that apply to your gross salary, you can make informed decisions regarding your finances and ensure compliance with Uganda’s tax laws. Consider consulting a qualified tax professional to help you navigate the intricacies of the tax system and optimize your tax planning strategies.
Benefits and Perks Included in Gross Salary
When considering a job offer in Uganda, it’s essential to take into account the additional benefits and perks that may be included as part of the gross salary package. These benefits can significantly enhance the overall value of your compensation and provide a more comprehensive financial package. Let’s explore some common benefits and perks offered in Uganda:
- Health Insurance: Many companies in Uganda provide health insurance coverage as part of the gross salary package. This ensures that you have access to quality healthcare services and can receive necessary medical treatments without incurring significant out-of-pocket expenses.
- Retirement Plans: Employers often offer retirement plans, such as pensions or provident funds, to help you secure your financial future. These plans allow you to save a portion of your gross salary for retirement, ensuring a comfortable lifestyle even after you stop working.
- Housing Allowances: Some companies provide housing allowances to help employees cover the costs of accommodation. This can be especially beneficial if you plan to live in a high-cost area or if you’re relocating from another country.
- Transportation Benefits: Companies may also offer transportation benefits, such as fuel allowances or company-provided vehicles, to ease the burden of commuting. This can save you money on transportation expenses and provide convenience in your daily travels.
- Education Assistance: Depending on the nature of your work and the company you join, you may be eligible for education assistance programs. These programs can include scholarships, tuition reimbursements, or access to professional development courses, allowing you to enhance your skills and qualifications.
These are just a few examples of the benefits and perks that can be included in a gross salary package in Uganda. It’s important to carefully review the terms and conditions of any job offer to understand the full scope of the benefits being offered.
“The additional benefits and perks included in a gross salary package can significantly enhance your overall compensation and contribute to a better work-life balance.” – HR Manager, XYZ Company
By considering the benefits and perks in addition to the base salary, you can make a more informed decision about the financial aspects of a job offer. It’s also worth noting that the availability and extent of these benefits can vary across different industries and companies, so it’s advisable to research and compare offers to find the best fit for your needs and goals.
Now that we have explored the benefits and perks included in a gross salary package, let’s move on to the next section, where we will discuss tips and strategies for negotiating a favorable gross salary in Uganda.
Negotiating Gross Salary in Uganda
When it comes to negotiating your gross salary in Uganda, it’s important to be prepared and confident. By following these tips and strategies, you can increase your chances of securing a favorable salary package.
Research Market Rates
Before entering into negotiations, it’s essential to know the current market rates for your position in Uganda. Research industry benchmarks and salary surveys to gain a better understanding of what others in similar roles are earning. This information will provide valuable context and help you determine a realistic salary range to aim for.
Highlight Your Qualifications
During negotiations, emphasize your qualifications and highlight the unique value you bring to the role. Showcase your relevant skills, experience, and achievements that set you apart from other candidates. By demonstrating your worth to the employer, you can strengthen your bargaining position and justify a higher gross salary.
Present a Compelling Case
Prepare a well-structured case outlining why you deserve a higher gross salary. Clearly articulate your accomplishments, responsibilities, and contributions to the organization. Emphasize how investing in your skills and expertise will benefit the company in the long term. Supporting your arguments with data and examples can make your case more persuasive.
“Negotiating salary is a two-way discussion. It’s an opportunity for both parties to find common ground and reach a mutually beneficial agreement.”
Consider Non-Salary Benefits
When negotiating your gross salary, remember to consider non-salary benefits that can enhance the overall value of your compensation package. This could include additional perks like flexible working hours, professional development opportunities, health insurance, or retirement plans. These benefits can contribute significantly to your financial well-being and work-life balance.
Be Flexible
While it’s important to advocate for your worth, it’s also essential to be flexible during negotiations. Consider the employer’s perspective and explore alternative options if they are unable to meet your desired salary. This might involve negotiating other aspects of your compensation package, such as performance bonuses or incentives, to bridge the gap.
By adopting these strategies, you can enhance your negotiating skills and increase the likelihood of securing a fair and rewarding gross salary in Uganda.
Cost of Living Considerations
In Uganda, understanding the cost of living is crucial for individuals who want to manage their finances effectively. The cost of living refers to the amount of money needed to cover basic expenses such as housing, transportation, food, healthcare, and other essential needs. It directly influences the purchasing power of individuals and determines how far their gross salary will stretch.
When it comes to housing, the cost can vary greatly depending on the location and size of the property. In urban areas like Kampala, the capital city, rental prices tend to be higher compared to rural areas. Transportation costs also need to be considered, including fuel prices, public transportation fares, and vehicle maintenance expenses.
Food expenses in Uganda can be relatively affordable, especially if individuals opt for locally grown produce and traditional dishes. However, prices may fluctuate depending on market conditions and the availability of certain imported goods. Healthcare costs should also be taken into account, as individuals may need to allocate a portion of their salary for medical insurance premiums and out-of-pocket expenses.
To provide a clearer understanding of the cost of living in Uganda, let’s take a look at the average monthly expenses for housing, transportation, food, and healthcare:
| Expense Category | Monthly Cost |
|---|---|
| Housing (Apartment rent, utilities) | $400 – $800 |
| Transportation (Public transport, fuel) | $50 – $150 |
| Food (Groceries, dining out) | $150 – $300 |
| Healthcare (Insurance, medical expenses) | $50 – $100 |
It is important to note that these figures are approximate and can vary depending on an individual’s preferences and lifestyle choices. However, they provide a general overview of the cost of living in Uganda.
Considering the cost of living is essential when negotiating a gross salary. By understanding the expenses associated with various aspects of daily life, individuals can make informed decisions about their financial priorities and ensure that their salary adequately covers their needs.
Job Opportunities and Industries with High Gross Salaries
When it comes to job opportunities and industries with high gross salaries in Uganda, several sectors stand out. These industries offer lucrative positions that allow individuals to earn a substantial income while pursuing their passions. Let’s explore some of the key industries and job roles that tend to offer high gross salaries in the country.
1. Information Technology
The Information Technology (IT) industry in Uganda has experienced significant growth in recent years. Skilled professionals in this field are in high demand, and as a result, they often enjoy competitive salaries. Job opportunities in IT range from software development and programming to database administration and network management.
2. Finance and Banking
The finance and banking sector in Uganda offers excellent job opportunities for individuals with expertise in areas such as accounting, finance, and banking operations. With the country’s growing economy and increasing financial activities, professionals in this industry can expect attractive remuneration packages.
3. Engineering and Construction
The engineering and construction industry plays a vital role in Uganda’s infrastructure development. Civil engineers, architects, and construction project managers are highly sought after in this field. Their specialized skills and knowledge are rewarded with generous gross salaries to match the complexity and criticality of the projects they undertake.
4. Oil and Gas
With the discovery of substantial oil reserves in Uganda, the oil and gas sector has become a promising industry for job seekers. Positions in this field, such as petroleum engineers, geologists, and drilling supervisors, offer attractive gross salaries due to the specialized nature of the work and the potential for international collaborations.
5. Healthcare
The healthcare industry in Uganda is expanding rapidly, creating numerous job opportunities with high earning potential. Medical professionals, including doctors, surgeons, and specialized healthcare practitioners, are well-compensated for their expertise and dedication to improving public health.
6. Agriculture and Agribusiness
Agriculture is the backbone of Uganda’s economy, and the agribusiness sector offers various job opportunities. Skilled professionals in this industry, such as agricultural engineers, agronomists, and farm managers, can expect competitive salaries, especially in large-scale commercial farming and agro-processing companies.
While these industries offer high gross salaries, it’s important to note that individual salaries can vary depending on factors such as qualifications, experience, and job responsibilities. Additionally, emerging sectors such as renewable energy, tourism, and e-commerce also show promising growth potential, opening up exciting job prospects with attractive remuneration.
Having examined the job opportunities and industries with high gross salaries in Uganda, it’s clear that individuals with the right skills and qualifications can find rewarding careers in various sectors. By pursuing these opportunities, professionals can not only secure their financial well-being but also contribute to the country’s economic growth and development.
Challenges and Potential Pitfalls of Gross Salary in Uganda
While gross salary can provide financial security and stability, there are several challenges and potential pitfalls that individuals in Uganda should be aware of. These factors can impact overall salary growth and create obstacles in the pursuit of a comfortable lifestyle.
1. Income Inequality
One significant challenge faced by employees in Uganda is income inequality. The gap between high earners and low earners in the country remains wide. This can result in disparities in living standards and hinder socioeconomic progress.
2. Inflation and Cost of Living
Inflation and the cost of living are critical factors to consider when assessing the value of a gross salary. Rising prices for essentials such as housing, food, and healthcare can easily erode the purchasing power of a salary. It is essential to closely monitor inflation rates and be mindful of changes that can impact the affordability of goods and services.
3. Economic Uncertainties
Uganda’s economy, like any other, is subject to uncertainties and fluctuations. Factors such as political instability, changes in government policies, and global economic trends can all affect salary growth and stability. It is crucial to stay informed about the current economic climate and plan accordingly to mitigate potential risks.
4. Limited Job Opportunities
Another challenge that individuals may face is limited job opportunities, particularly in certain industries. The availability of high-paying positions may be limited, making it more difficult to secure a gross salary that aligns with one’s qualifications and aspirations. It is important to consider market demand and potential for growth when choosing a career path.
“The challenges and potential pitfalls associated with gross salary in Uganda require individuals to be proactive and informed. By staying aware of income disparities, inflation rates, economic trends, and job market opportunities, individuals can navigate these challenges and strive for financial well-being.”
5. Lack of Employee Benefits
In some cases, employees in Uganda may face a lack of comprehensive benefits as part of their gross salary package. Limited or no access to health insurance, retirement plans, and other perks can place added financial burdens on individuals and impact their overall well-being. It is crucial to negotiate for and evaluate the inclusion of benefits in any job offer.
To gain a better understanding of the challenges and potential pitfalls of gross salary in Uganda, let’s analyze some key data in the table below:
| Challenges | Potential Pitfalls |
|---|---|
| Income inequality | Limited job opportunities |
| Inflation and cost of living | Lack of comprehensive benefits |
| Economic uncertainties |
Understanding and addressing these challenges and potential pitfalls is crucial for individuals in Uganda. By staying informed, proactive, and adaptable, individuals can navigate the complexities of the gross salary landscape and strive for financial stability and growth.
Career Progression and Salary Growth Opportunities
Uganda presents a wealth of career progression opportunities that can significantly impact salary growth. As professionals seek to advance in their chosen fields, they can explore various avenues for professional development, promotions, and higher-paying roles.
Professional Development
Continued learning and acquiring new skills are key to career progression and salary growth in Uganda. Professionals can take advantage of training programs, workshops, and certifications to enhance their knowledge and expertise. Investing in professional development not only equips individuals with the latest industry trends and best practices but also makes them more marketable to employers. By staying relevant and upskilling, professionals become valuable assets and have the potential to qualify for higher-paying and more senior positions.
Promotions and Advancement
Internal promotions present another pathway for career progression and increased salary in Uganda. Employers often prioritize promoting talented individuals who have consistently delivered results, demonstrated leadership potential, and displayed a strong work ethic. By consistently striving for excellence, building positive relationships with colleagues and superiors, and taking on additional responsibilities, professionals can position themselves for higher-level roles within their organizations. Promotions not only offer higher salaries but also provide opportunities for greater influence, decision-making, and professional growth.
Exploring Higher-Paying Roles
In certain industries and sectors, specific roles inherently offer higher remuneration due to factors such as demand, scarcity of qualified professionals, or specialized skills. Professionals in Uganda can strategically explore these higher-paying roles and industries to optimize their salary growth. By understanding market trends, identifying in-demand skills, and leveraging their own qualifications and experience, individuals can pursue career paths that are more likely to yield lucrative salary packages. Industries such as finance, IT, engineering, and health services often offer well-compensated positions that align with career progression goals.
| Industries | Average Salary Range |
|---|---|
| Finance | $40,000 – $100,000+ |
| IT | $30,000 – $90,000+ |
| Engineering | $35,000 – $80,000+ |
| Health Services | $45,000 – $120,000+ |
It’s important to note that salary growth opportunities may also depend on individual qualifications, experience, and track record of success in the chosen field. As professionals navigate their career journeys in Uganda, they should actively seek out and seize these career progression opportunities to maximize their salary potential.
Conclusion
After exploring the intricacies of gross salary in Uganda, it becomes clear that understanding and negotiating this key aspect of employment is crucial for both expats and local employees. ‘
Gross salary forms the foundation of an individual’s earnings, encompassing elements such as basic salary, allowances, and bonuses. It is affected by various factors including education level, work experience, industry, and the demand for particular skills.
While taxation and cost of living considerations influence the net salary that individuals take home, the benefits and perks included in the gross salary package can significantly impact overall remuneration. Engaging in effective negotiations and staying informed about market rates are essential for securing a favorable gross salary in Uganda.
In conclusion, grasping the concept of gross salary in Uganda is essential for individuals seeking employment opportunities in the region. By understanding the factors that influence gross salary, the impact of taxation, and the value of perks and benefits, individuals can make informed decisions, negotiate effectively, and ensure their financial well-being in the East African economy.
FAQ
What is gross salary?
Gross salary refers to the total amount of money earned by an employee before any deductions, such as taxes or social security contributions, are taken out. It includes both the base salary and any additional benefits, allowances, or bonuses.
How is gross salary calculated?
Gross salary is calculated by adding together the employee’s base salary and any additional income components, such as overtime pay or commissions. It is important to note that gross salary does not take into account any deductions or taxes.
What factors can affect my gross salary in Uganda?
Several factors can influence your gross salary in Uganda, including your education level, work experience, industry, and demand for specific skills. Additionally, factors such as the company’s financial stability and the overall economic climate can also play a role in determining your salary.
How does gross salary differ between expatriates and local employees in Uganda?
There may be differences in gross salaries between expatriates and local employees in Uganda. Expatriates often receive additional benefits such as housing allowances or relocation packages, which can contribute to a higher gross salary compared to local employees. The disparities in salaries are influenced by factors such as skill scarcity, employer demand, and cost of living in Uganda.
How does taxation impact gross salary in Uganda?
The tax system in Uganda can affect the amount of income tax you pay on your gross salary. Depending on your earnings, you may fall into different tax brackets, each with its own tax rate. Deductions and allowances may be available to reduce your taxable income and effectively lower the amount of tax you owe.
What benefits and perks are typically included in a gross salary package in Uganda?
Gross salary packages in Uganda may include various benefits and perks such as health insurance, retirement plans, housing allowances, and transportation allowances. These additional benefits are designed to enhance the overall value of the compensation package.
How can I negotiate a favorable gross salary in Uganda?
When negotiating your gross salary in Uganda, it is important to research market rates, highlight your qualifications and experience, and present a compelling case to your prospective employer. Emphasize the value you bring to the organization and be open to discussing benefits and perks as part of the negotiation process.
How does the cost of living impact gross salary in Uganda?
The cost of living in Uganda affects how far your gross salary will stretch in meeting your everyday expenses. Factors such as housing, transportation, food, and healthcare costs contribute to the overall cost of living. It is essential to consider these factors when evaluating the adequacy of your gross salary.
Which job opportunities and industries in Uganda offer high gross salaries?
Some job opportunities and industries in Uganda tend to offer higher gross salaries, such as engineering, finance, IT, and management roles. These roles often require advanced qualifications and expertise, reflecting the demand and scarcity of certain skills in the job market.
What are some challenges and potential pitfalls associated with gross salary in Uganda?
Challenges and potential pitfalls of gross salaries in Uganda may include income inequality, inflation, and economic uncertainties. Additionally, fluctuations in exchange rates, changes in government policies, and increased competition within the job market can impact overall salary growth.
How can career progression opportunities contribute to salary growth in Uganda?
Career progression opportunities, such as promotions, professional development, and acquiring new skills, can contribute to salary growth in Uganda. By continuously enhancing your qualifications and seeking growth opportunities within your chosen field, you increase your chances of earning a higher gross salary.
What is the significance of gross salary in Uganda?
Gross salary is significant in Uganda as it represents the total compensation package that an employee receives. It is an important factor in attracting and retaining talented individuals and plays a crucial role in shaping an individual’s standard of living and economic well-being.