{"id":294632,"date":"2019-01-22T14:31:34","date_gmt":"2019-01-22T12:31:34","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=294632"},"modified":"2019-01-22T14:31:34","modified_gmt":"2019-01-22T12:31:34","slug":"this-is-what-the-average-multichoice-employee-gets-paid","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/294632\/this-is-what-the-average-multichoice-employee-gets-paid\/","title":{"rendered":"This is what the average Multichoice employee gets paid"},"content":{"rendered":"

Video entertainment group Multichoice is preparing for its public listing on the JSE in February 2019, and has published pre-listing documents which give insight into the various financial aspects of the business.<\/p>\n

One of the key measurements the documents give insight to is remuneration of executives and general employees – as well as the gaps between them.<\/p>\n

South Africa is known as one of the most unequal countries in the world when in comes to executive vs employee pay<\/a><\/strong>, where some chief executives can earn as much as 800 times the average salary of the people who work for them.<\/p>\n

According to a PwC report in 2018, the pay ratio in South Africa \u2013 worker pay to CEO pay \u2013 was at 65:1 in 2018, up from 62:1 in 2017.<\/p>\n

Multichoice’s pre-listing documents show that the group’s directors will be earning a total of R55.3 million<\/a><\/strong> in the 2019 financial year (ended March 2019), with the top earner taking home R22.15 million.<\/p>\n

However, for the 2018 financial year, this was lower – R44.2 million – spread among 8 directors, with the top earner pulling in R19.7 million.<\/p>\n

For FY2018, Multichoice paid salaries, wages and bonuses totalling R5.212 billion to 6,963 permanent employees, averaging at R748,528 per employee.<\/p>\n

The average Multichoice director, with a salary of R5.5 million, earns about 7.3 times more than the average employee<\/strong> – with the top earner getting 26 times as much<\/strong> as the average worker.<\/p>\n

Because executive pay is also included in the reported salaries spend, the top directors can also be taken out of the equation – but this doesn’t change the picture that much.<\/p>\n

The table below outlines how average pay at Multichoice compares.<\/p>\n

\n
\n\n\n\n\n\n
Group<\/th>\nEmployees<\/th>\nSalaries, wages and bonuses<\/th>\nAverage<\/th>\n<\/tr>\n
Multichoice Group<\/td>\n6 963<\/td>\nR5 212 million<\/td>\nR748 528<\/td>\n<\/tr>\n
Multichoice Directors<\/td>\n8<\/td>\nR44.14 million<\/td>\nR5 518 580<\/td>\n<\/tr>\n
Multichoice Group (excl. Directors)<\/strong><\/td>\n6 955<\/strong><\/td>\nR5 168 million<\/strong><\/td>\nR743 062<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n
\n

Read:\u00a0Multichoice\u2019s top execs will earn a massive R55 million in salaries this year<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Video entertainment group Multichoice is preparing for its public listing on the JSE in February 2019, and has published pre-listing documents which give insight into the various financial aspects of the business.<\/p>\n","protected":false},"author":10,"featured_media":59183,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[26,1253],"class_list":["post-294632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-headline","tag-multichoice"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/294632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=294632"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/294632\/revisions"}],"predecessor-version":[{"id":294648,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/294632\/revisions\/294648"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/59183"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=294632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=294632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=294632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}