According to last weeks Friday’s revelation by Quartz, it means that SA CEOs are the fastest earners in the world.
“It took CEOs in South Africa just over seven hours to make $13‚194 (R180‚000)‚ which is the country’s average yearly wage‚” said study author Aamna Modin.
“Assuming Monday‚ January 2‚ was a public holiday and they started work at 7.30am on Tuesday‚ CEOs in South Africa clocked in the annual average wage by 3pm that day.”
It was revealed back in October that Shoprite chief executive Whitey Basson makes about R49.7-million in basic pay and a performance bonus of R50-million. The article also said that it would take Checkers deli employees more than 290 years to earn what he makes monthly as salary.