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BusinessTech reports that a new study released by Quartz has revealed that South African CEOs topped the list of fastest earners in the world, taking just over seven hours to earn the average South African’s annual wage.
The study used data to compare pay at the top of the income distribution with average worker pay in several countries. Author Aamna Modin noted: “While CEOs in South Africa make far less on average than their American counterparts, their salaries were 541 times more than the average income in their own country. It took CEOs in South Africa just over seven hours to make $13,194, which is the country’s average yearly wage. Assuming Monday, Jan. 2, was a public holiday and they started work at 7:30am on Tuesday, Jan. 3, CEOs in South Africa clocked in the annual average wage by 3pm that day”.
- Read this report in full at BusinessTech
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