Chief executives in South Africa out-earn their lowest-paid worker by huge margins, new research shows.
Several of South Africa’s largest publically-listed companies have major pay discrepancies between their highest- and lowest-paid employees., wage gap disclosure in South Africa are not required by law, but several companies nationwide have started to release this information.
“A common argument against pay gap disclosure in South Africa is that this disclosure will be ‘taken out of context’ or ‘misinterpreted’,” Just Share said. “While there are important differences between sectors which impact levels of pay, Just Share believes that stakeholders can make their own assessments of fairness on a case-by-case basis and that this disclosure is a crucial first step in understanding and addressing the high labour market inequality that is so damaging to our economy and society.”
According to the data, Shoprite’s CEO Pieter Engelbrecht is the highest-paid CEO, with a single-figure remuneration of R63,458,000. However, Shoprite’s own internal minimum wage is the lowest on the list, coming at R58,700 – if the employee works 45 hours per week for all 52 weeks of the year.The JSE sees the smallest disparity between the highest and lowest-paid employees, with its CEO, Leila Fourie having the lowest pay – just over R20,000,000, whilst also having the highest internal minimum salary of over R400,000.minimum salary.
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