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Rock Street, San Francisco

Executive pay still seen as excessive by investors, shareholders – PwC MONEY WEB Dineo Tsamela
The mining industry has been the bedrock for many a debate about the chasm between executive pay and what miners earn. As executives continue to drive cost-cutting measures, people are paying close attention to the compensation they receive during these austere times.
Other industries are beginning to see the same trend. The growing focus on executive pay is putting pressure on companies to be socially aware in the business conduct.
A PwC report released this month sheds light on executive remuneration in relation to the average employee, with a special focus on pay of JSE executives across sectors.
According to the findings, the median executive pay for all JSE executives is R3.906 million (2015: R3.694 million). This accounts for 60% of the JSE’s market cap. The average executive pay for top 10 CEOs is R24.6 million and CFOs R13.8 million.*
The median Total Guaranteed Package (TGP) for CEOs of large-cap basic resource companies is R23 million and the median TGP for executive directors is R16.3 million.
The basic resources sector, however, has been negatively affected by weak global demand for raw materials since 2008 and as a result there are modest increases in executives’ remuneration across this sector.

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