TRACEY DAVIES: PwC waves magic wage gap wand
In its latest report on executive remuneration, the firm has magicked away about two-thirds of CEO pay
In one fell swoop, PwC appears to have eliminated SA’s socially destabilising wage gap. The auditing firm’s recently released "Practices and Remuneration Trends Report — Executive Directors" analyses publicly available information on executive remuneration at JSE-listed companies for the period May 1 2019 to February 29 2020.
PwC concludes that the median pay of a JSE CEO is only 18 times that of a semiskilled employee, and 24 times that of an unskilled employee. The gap between CEO pay and the national minimum wage — acknowledged by PwC to be insufficient to support a decent standard of living — is presented as a rather reasonable 66 times...
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