South African CEOs of JSE-listed companies earned an average of R4.1m in 2014, according to a report released on Thursday.
According to PwC’s Executive Directors – Practices and remuneration trends report, South Africa had 1 180 executives within JSE-listed companies in 2014, including CEOs, chief financial officers and executive directors.
“These are the guys that have been responsible for the management of the company. They also sit on the board,” partner and tax director for PwC, Gerald Seegers, told journalists in Johannesburg.
The R4.1m average was what the CEOs were guaranteed to take home, excluding bonuses and shares. They averaged a 4.8% wage increase in 2014, having earned some R3.9m in guaranteed take-home pay in 2013.
Their CFO counterparts received on average R3.6m for 2014, an increase of 6.8% from 2013. Executive directors were paid on average R2.5m, receiving an average raise of 5.9% from the previous year.