A new report published by financial services company, PwC, has revealed the pay of executives of companies listed on the Johannesburg Stock Exchange (JSE).<\/p>\n
The report noted that as at 30 April 2015 there were 355 active JSE-listed companies with a combined market capitalisation of R11.926 trillion.<\/p>\n
The report found that the median total guaranteed pay (TGP) among CEOs in 2014 was R4.13 million – up 4.8% from R3.94 million in 2013.<\/p>\n
The average inflation in SA for 2014, was 6.1%.<\/p>\n
The upper quartile earned an average TGP of R7.135\u00a0–\u00a0up 7.7% from 2013 – while the lower quartile earned an average of R3.06 million, up 2.1%.<\/p>\n
The report found that six CEOs on the JSE, earned above R25 million in 2014, while 13 earned between R20-R25 million, while just under 120 received a TGP of between R5-R10 million.<\/p>\n
Some of the Top 40 companies listed on the JSE have addressed the internal wage gap in one form or another, PwC said.<\/p>\n
Companies have elected to address the wage gap by mitigating the average base salary increases for executives and increasing the salary increase percentages for management and general staff.<\/p>\n
Other companies\u2019 CEOs have foregone salary increases entirely in order to demonstrate their commitment to addressing the internal wage gap, the financial services company said.<\/p>\n
In the FTSE 100 reports submitted during September 2014 and March 2015, 45% of the CEOs reported no salary increases. The median increase was 2%.<\/p>\n
PwC said that only six basic resources companies are listed among the large cap companies on the JSE. The median TGP for CEOs of large-cap basic resource companies is R21.6 million, and the median TGP for executive directors is R15.1 million.<\/p>\n
The median TGP for the CEOs of large-cap companies in the financial services sector has shown a modest inflationary increase, as in the prior year (R7 million).<\/p>\n
The median TGP for large-cap CEOs at industrial organisations also showed a modest increase – R13.9 million –\u00a0 after a substantial decline in 2012 of R10 million.<\/p>\n
As at 30 April 2015 there were 1,180 executive directors at JSE-listed companies, an increase of 3.1% on the previous year, PwC said.<\/p>\n
When comparing the 2,204 non-executive directors on listed company boards, the ratio of executives to non-executives are in line with the global norm.<\/p>\n
The median age for executive directors is 54, PwC said.<\/p>\n
SA banking CEO pay vs the world<\/strong> <\/a><\/p>\n CEO pay vs performance in South Africa<\/a><\/strong><\/p>\n