It has been revealed in an investigation done by accountants firm COMPUTUS, not only that CEO compensation in South Africa is out of control, but that CEOs operating in the telecoms industry in South Africa are on average earning R11.5 million each in remuneration per annum.
The worker is worthy of his pay…
Yes, the worker is worthy of his pay, but it’s clear that CEO compensation in South Africa, especially the compensation of CEOs in the telecoms industry, is way out of control when compared to the ‘peanuts’ the Average Joes have to be satisfied with.
If one considers the above-mentioned figure of R11.5 million then one can understand why many Average Joes get hot under the collar when they learn of this. To give our fellow Average Joes some perspective, while we at ADSL South Africa (Broadband South Africa) are not up to date with the salaries average workers are getting paid in the telecoms sector, we can tell you with confidence that it’s possible to employ at least 115 people as Bank Tellers at one of our local banks for R11.5 million per annum! We’re sure that many will agree with us when we say that CEO compensation of a million or even R2 million per annum is acceptable from a South African point of view, but AVERAGE compensation in the vicinity of R11.5 million per annum per CEO is a bit steep...
Read the rest of the article here.
2 comments:
Hi there
Apologies for the direct approach - we have just launched South Africa's first major broadband comparison service at http://www.broadbandcomparison.co.za to help average South Africans simplify their search for the right internet connection for them (it's complex now - and we're sure it's going to get worse with LLUs!)
We thought this might be an interesting story for your blog?
Please find attached our press release for the official 1 August release with some more info. If you'd like to chat further though, please do be in touch!
Thanks so much.
Kindest regards
Chris Cox
PS. my email is chris ((DOT)) cox ((AT)) broadbandcomparison ((DOT)) co ((DOT)) za
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