The latest PwC report on executive pay, released last week, highlights a number of focus areas for South African companies and regulators to attain that elusive goal of fair and responsible pay. As expected, the study found that women working for listed companies earned less than men in all major sectors. The median pay gap, not accounting for specific roles, ranged from 5% to 10%. Women also remain significantly underrepresented at senior leadership levels, regardless of industry. Perhaps more interesting, the pay ratio — between the CEO’s pay and the median salary of the company’s workers — in JSE-listed firms increased from 61.8 in 2017 to 64.7 this year, according to PwC calculations. The Gini coefficient, which measures income inequality, has decreased slightly from 0.431 to 0.429 among employed South Africans, the report stated.

In SA, the focus has largely been on executive pay, where the King IV Code of Good Governance and changing JSE listing rules have helped to impr...

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