What is Executive Salary?
Executive compensation is composed of both the financial compensation and other non-financial benefits received by an executive from their employing firm in return for their service.
Top Executive Salary In South Africa
1. Mike Henry – BHP
On January 1, 2020, Mike Henry was appointed as BHP’s chief executive officer. He has worked in the resources industry for more than 30 years, and he has done so in Australia, Asia, North America, and Europe.
Before being appointed CEO, Mike oversaw BHP’s Australian Minerals division. Since joining BHP in 2003, he has held leadership positions in a variety of operational, commercial, and technical areas.
He held the offices of President of HSE, Marketing, and Technology from 2013 to 2014 and President of Coal from 2015 to 2016.
Since 2011, Mike has been a part of the Executive Leadership Team. Mike had worked in the resources sector in Canada, Japan, and Australia before joining BHP.
As a CEO at BHP, Mike receives a total remuneration of R251 525 501.
2. Alan Pullinger – FirstRand Limited
Alan Pullinger is the CEO and Executive Director of FirstRand Limited and also serves on the boards of 10 other companies.
He holds an MCom, CA(SA), and CFA and was appointed as the CEO in 2018. He formerly served as Rand Merchant Bank’s Chief Executive Officer and Director.
His total compensation at FirstRand amounts to R57 513 000
3. Gerrie Fourie – Capitec Bank Limited
Gerrie Fourie is the CEO of Capitec Bank Limited. He was appointed as the CEO in January 2014. Prior to that, he was the Head of Operations. Since his reign, he has done exceptionally well for the company.
He has led Capitec beyond retail banking into the new frontier of business banking, including a successful bid to acquire Mercantile Bank, another South African bank owned by an arm of the Portuguese government.
Because of Covid -19’s impact, in 2021 he suffered a salary cut compared to his 2019 compensation, resulting in a drop to R49m versus R94.9m in 2019, making his salary cut to be R23m.
He currently receives a total remuneration of R92 770 000.
4. Mike Schmidt – African Rainbow Minerals
Mike Schmidt has been the CEO of African Rainbow Minerals, a mining company since March 2012. He joined the company in 2007 as an executive and before that, he was working for Hartebeestfontein Gold Mining Company. Mr. Schmidt earns about R29.3m as the CEO of ARM.
5. Stephen Saad – Aspen Pharmacare
Mr. Saad, a South African businessman is the founder and CEO of Aspen Pharmacare. He runs the continent’s pharmaceuticals maker and has been crowned as Entrepreneur of the Year.
He is said to be earning a basic salary of R7.2m and his overall remuneration which includes shares and bonuses amounts to R17.51m. He became a millionaire at the age of 29 when he sold his shares in the drug business Zurich for $3 million.
6. Bob van Dijk – Naspers
Bob van Dijk serves as the CEO of Naspers and was appointed in April 2014.
He joined the organization in August 2013 as CEO of the Allegro Group and was elevated to CEO of Global Transaction eCommerce in October 2013. With a focus on eBay and Schibsted, he has more than 15 years of general management expertise in the online growth industry, spanning the online marketplaces, online classifieds, and fashion divisions.
Previously, he held the positions of vice president and general manager of eBay Germany and Europe Emerging Markets.
Bob was an online financial products entrepreneur prior to beginning his career in general management. He began his career at McKinsey, where he concentrated on media and mergers & acquisitions. Bob holds an MBA with honors from INSEAD as well as an MSc (cum laude) in econometrics from Erasmus University in Rotterdam.
In his current role, Bob earns R229 000 000, making him one of the
7. Johan Burger – FirstRand
Johan Petrus Burger is a South African businessman who serves as a Non-Executive Director of FirstRand which he joined in the year 1986.
Before he was appointed as the CEO in October 2015, he held various positions such as Financial Director, CFO, and COO. His total compensation at FirstRand amounts to R63.3m
Wow, I am motivated! To think that there are people out there who earn so much money gives me hope.
This should be an inspiration to all of us who are still on our way up and to aspiring CEOs in South Africa that it is possible to be a millionaire, even better a billionaire.
All that is required from each one of us is to have a dream and set attainable goals, work hard, upskill ourselves, and push to climb the corporate ladder till we get to the top. Who knows, one day we can also make it to the Forbes list and be considered as one of South Africa’s highest-paid CEO.
How much are executives paid in South Africa?
The average business executive salary in South Africa is R 360 000 per year or R 185 per hour. Entry-level positions start at R 240 000 per year, while most experienced workers make up to R 1 874 093 per year.
What does the average CEO earn in South Africa?
The average chief executive officer salary in South Africa is R 1 440 000 per year or R 738 per hour. Entry-level positions start at R 600 000 per year, while most experienced workers make up to R 9 960 000 per year.