How senior execs at JSE Top 100 companies are scraping by on R69 000 a day
Thirty years ago, the ratio of an executive salary to that of a worker was around 50:1. Now, it is 500:1
At an average of R69,000 a day, senior executives at JSE Top 100 companies are earning what an economist has called a "grotesque" amount. A new report by Deloitte has found that "despite the increasing scrutiny ... executive guaranteed pay increases in general have well exceeded inflation" in the past five years, and annual cash bonuses paid to CEOs and chief financial officers were "large" in relation to guaranteed pay. The report came as Statistics SA's quarterly employment statistics report showed employment decreased by 48000 jobs in the first quarter compared with the previous quarter, from 9.692 million in December 2016 to 9.644 million in March 2017.