Retail executives earn 700 times more than the lowest-paid workers in their industry.
found that South African CEOs were the seventh most highly paid. But our Gross Domestic Product per head is only 68th in the World Economics Global Wealth rankings.
“The amendments respond to shareholder concerns regarding excessive executive pay through two principal mechanisms: first, greater disclosure requirements in annual reports of companies; and second, improved shareholder rights in respect of remuneration policies. In South Africa, the average CEO gets a total guaranteed annual package of R5.7-million . CEOs also typically earn short-term incentives of about R3-million to R4-million. A minimum wage worker in SA earns R21.69 per hour, or less than R42,000 a year. Typically, these workers do not earn bonuses.This varies per industry. Research by the Labour Research Service in 2021 found the lowest wages to be in the wholesale and retail trade, with a minimum wage of R4,257 a month.
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