Meet the South African bosses who earn almost R190,000 a day

South Africa’s retail banking chief executive officers are among the highest paid people in the country, as they continue to balance prudent fiscal management with turning a profit in a difficult micro- and macro-economic environment.

Looking at the financial data for the last financial years (all published in 2018), the average pay for the top retail banking executives came to almost R47 million, including all bonuses and benefits.

This means that a chief executive from a top five bank earned earned an average of R187,800 a day – on the basis of 250 work days in a year.

Taking only basic salaries into account (excluding bonuses), the figure drops to R36,560 per day – almost 85% more than the average South African earns in a month, and 38 times more than they earn in a day…

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