PwC has published its latest executive director report, which details how much top executives earn in South Africa.
The report focuses on JSE-listed companies and includes analyses of the FTSE 100 and FTSE 250 as well as seven African stock exchanges.
This data is sourced from publicly-available information on 29 February 2020 and is valid for the period from 1 May 2019 to 29 February 2020.
The report shows that the median Total Guaranteed Package (TGP) for a JSE CEO is R5,242,000 before tax.
It also outlines the average salaries for telecommunications executives across companies of different market cap sizes.
The report also details the lower quartile, median, and upper quartile salary figures for technology executives across different market caps.
This data is shown in detail below.
What tech and telecommunications CEOs are paid
The report stated that the director’s fees rarely follow a standard distribution curve, and for this reason, it uses a quartile range rather than standard deviations and average to ensure normality.
“We include averages as a point of interest or where there are not enough data points to perform quartile analysis,” PwC said.
“This year, we have slightly changed our methodology to reflect medians on a nonadjusted basis, as we believe this provides a more accurate analysis.”
It is important to note that telecommunications CEO remuneration is reflected as an average in the report due to the absence of sufficient data points for a quartile analysis.
For the same reason, only quartile remuneration data for small-cap technology CEOs is available.
The table below lists the quartile and average figures for the total guaranteed package (TGP) of tech and telecommunications executives at JSE-listed companies in South Africa.
|Total Guaranteed Package (TGP)|
|Technology CEO – Lower Quartile||R3.33 million|
|Technology CEO – Median||R3.67 million|
|Technology CEO – Upper Quartile||R4.08 million|
|Telecommunications CEO – Average||R7.33 million|
|Telecommunications CEO – Average||R16.24 million|
The charts below show how small market-cap CEOs in these industries are compensated compared with other industries in South Africa.