A preliminary analysis found that chief executive officers earn between 150 and 949 times more than the average pay of all South African workers. The average monthly pay for all workers, regardless of their sector of employment, was R23,640 (about US$1,280).
The findings were submitted to parliament, which tabled two bills earlier this year that would make it compulsory for companies to disclose their pay gap ratios. The bills include clauses that would make remuneration disclosures mandatory for public companies and state-owned entities. If passed, companies would be required to list the remuneration and total benefits received by the highest earning individual and the lowest earning employee.
Pay disparities along gender lines persists but reporting on gender pay gaps is not part of the current version of the amendment. Reporting on gender pay gaps is already in place in Germany, the U.K., Australia, and New Zealand.
From University of the Witwatersrand
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