{"id":92512,"date":"2015-07-06T20:30:23","date_gmt":"2015-07-06T18:30:23","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=92512"},"modified":"2015-07-06T17:51:12","modified_gmt":"2015-07-06T15:51:12","slug":"sa-banking-ceo-pay-vs-the-world","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/92512\/sa-banking-ceo-pay-vs-the-world\/","title":{"rendered":"SA banking CEO pay vs the world"},"content":{"rendered":"

The Financial Times (FT) has published a list<\/a> of what the world’s top bankers were paid in 2014 – here is how our local bankers compare.<\/p>\n

Nedbank CEO, Mike Brown is the top earner in the South African retail banking sector, taking home a base salary of R7 million in 2014, with bonuses and share options pushing his final wage to R35 million \u2013 a 7.7% increase from 2013.<\/p>\n

However, moving past just retail banking, Investec CEO,\u00a0Stephen Koseff achieved a total package of R46.7 million in 2014.<\/p>\n

South Africa’s best paid executives pale when compared to global banking salaries, however.<\/p>\n

According to the FT, JPMorgan Chase’s CEO,\u00a0Jamie Dimon, managed to take home $27.6 million (R342 million) in 2014.<\/p>\n

Dimon, as well as Morgan Stanley CEO James Gorman (who earned the equivalent of R287 million) saw big increases in pay in 2014; however, both executives are outliers, according to the FT.<\/p>\n

The financial publication cited an analysis from research firm Equilar, looking at remuneration at 15 large global banks, which found that other banking CEOs “enjoyed a substantial but less spectacular average pay rise” of 17% in 2014.<\/p>\n

South Africa’s CEOs saw a mixed bag in terms of increases. The table below outlines the change in SA pay over the last financial year.<\/p>\n

SA banking CEO salary increase\/decrease, 2013\/14 – 2014\/15 (ZAR millions)<\/h3>\n
\n
\n\n\n\n\n\n\n\n\n\n\n
Bank<\/th>\nCEO<\/th>\n2013\/14<\/th>\n2014\/15<\/th>\nChange<\/th>\n<\/tr>\n
Investec<\/td>\nStephen Koseff<\/td>\n37.758<\/td>\n46.699<\/td>\n23.7%<\/span><\/strong><\/td>\n<\/tr>\n
Capitec<\/td>\nGerrie Fourie<\/td>\n9.052<\/td>\n10.325<\/td>\n14.1%<\/span><\/strong><\/td>\n<\/tr>\n
FirstRand<\/td>\nSizwe Nxasana<\/td>\n26.039<\/td>\n29.488<\/td>\n13.3%<\/span><\/strong><\/td>\n<\/tr>\n
Nedbank<\/td>\nMike Brown<\/td>\n32.532<\/td>\n35.050<\/td>\n7.7%<\/span><\/strong><\/td>\n<\/tr>\n
Absa<\/td>\nMaria Ramos<\/td>\n28.658<\/td>\n28.571<\/td>\n-0.3%<\/span><\/strong><\/td>\n<\/tr>\n
Standard Bank<\/td>\nSim Tshabalala<\/td>\n28.682<\/td>\n24.278<\/td>\n-15.4%<\/span><\/strong><\/td>\n<\/tr>\n
Standard Bank<\/td>\nBen Kruger<\/td>\n28.806<\/td>\n19.010<\/td>\n-34.0%<\/span><\/strong><\/td>\n<\/tr>\n
FNB<\/td>\nJacques Celliers<\/td>\n22.108<\/td>\n13.513<\/td>\n-38.9%<\/span><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

Here is how South African bankers compare to global counterparts in total pay for 2014.<\/p>\n

The totals below include base salary, bonuses and share options.<\/p>\n

\"SA<\/a>

SA vs global banking CEO pay<\/p><\/div>\n

More on banking<\/h3>\n

How the banking system really \u2018creates money\u2019<\/a><\/strong><\/p>\n

Banking salaries in South Africa<\/a><\/strong><\/p>\n

How much SA\u2019s banking CEOs earn<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The Financial Times has published a list of what the world’s top bankers were paid in 2014 – here is how our local bankers compare.<\/p>\n","protected":false},"author":10,"featured_media":43403,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[10335,131,26,7314,4564],"class_list":["post-92512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-banking","tag-banks","tag-headline","tag-pay","tag-salary"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/92512","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=92512"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/92512\/revisions"}],"predecessor-version":[{"id":92522,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/92512\/revisions\/92522"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/43403"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=92512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=92512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=92512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}