• BOBA Drugs and Substance Abuse Awareness tournament in JwanengAugust 30, 2025
    RelatedPosts BOBA Drugs and Substance Abuse Awareness tournament in Jwaneng Bold pitch for BETP 346 perish in road mishaps 
  • Statistics Botswana flat brokeAugust 29, 2025
    Statistics Botswana flat broke   RelatedPosts Statistics Botswana flat broke Botswana\’s Top 100 CEOs unveiled Betway fixingwithdrawal glitches Suspend 2025 Agric census due to budget constraints Struggles to pay staff salaries, suppliers, etc Management reported to minister, misappropriationalleged  … Read more: Statistics Botswana flat broke
  • Botswana\’s Top 100 CEOs unveiledAugust 29, 2025
    Botswana's Top 100 CEOs unveiled Progressive Institute to hostTop CEO Conference&Awards Geared towards honouring and cementing resolute leadership GORATAONE KGOSIMORE RelatedPosts Statistics Botswana flat broke Botswana\’s Top 100 CEOs unveiled Betway fixingwithdrawal glitches editors@thepatriot.co.bw   The Progressive Institute has… Read more: Botswana\’s Top 100 CEOs unveiled
  • DIALOGUE VACANCYAugust 28, 2025
      WE ARE HIRING FOR WHAT’S NEXT RelatedPosts DIALOGUE VACANCY TENDER NOTICE CHOPPIES VACANCY – ASIAN CHEF Botswana’s leading agency is looking for the best talent. At The Dialogue Group (TDG), bold thinking meets precision delivery and work that… Read more: DIALOGUE VACANCY
  • Betway fixingwithdrawal glitchesAugust 27, 2025
    Betway fixingwithdrawal glitches Partners with banks for seamless transactions Punters decry limited withdrawals, inconveniences Mabiletsa appreciates strong relationship with VIP clients KITSO RAMONO RelatedPosts Statistics Botswana flat broke Botswana\’s Top 100 CEOs unveiled Betway fixingwithdrawal glitches editors@thepatriot.co.bw   Betway… Read more: Betway fixingwithdrawal glitches
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
  • Login
  • Register
Monday, September 1, 2025
-6 °c
Columbus
6 ° Sat
13 ° Sun
15 ° Mon
16 ° Tue
The Patriot On Sunday
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result
Home Business

Meet banking bosses who earn thousands a day

patriot by patriot
July 12, 2023
in Business
250
0
491
SHARES
1.4k
VIEWS
ShareShareShare

While many hardships come with running a major company, one motivating incentive to take on the CEO position is the massive salaries they receive for a job well done – and this is no different for South Africa’s most prominent banking CEOs.

Being a Chief Executive Officer (CEO) is no easy feat. The role comes with immense pressure, as these leaders face ever-increasing regulatory scrutiny, complex market dynamics, and the responsibility to ensure financial stability.

RelatedPosts

Botswana\’s Top 100 CEOs unveiled

Betway fixingwithdrawal glitches

Bold pitch for BETP

Balancing profitability with ethical practices is a constant challenge, demanding strategic acumen and a thick skin. However, due to the pressures of the job, banking CEOs – and those in other sectors – are paid handsomely for their work, especially if they’re good at what they do.

This is evident in the big paydays the CEOs at the helm of South Africa’s biggest banks received in 2022 – including Investec, Capitec, Standard Bank, Absa, and Nedbank.

While all the CEOs of these banks earned jew-dropping salaries, one earned far more than the rest – the CEO of Investec Fani Titi. According to the group’s annual report for the year ended 31 March 2023, Titi’s single-figure earnings amounted to £7.5 million (R177.6 million). This works out to a whopping R486, 575 per day.

To put this into perspective, Titi earned almost three times more than the second highest-paid banking CEO, Capitec’s Gerrie Fourie, who earned R62.09 million and works out to around R170,109 per day.

Put another way, according to Stats SA’s latest quarterly employment survey (QES), the average formally-employed non-agricultural worker in South Africa earns R25,304 per month or R303,648 annually – meaning Titi earned 1.6 times the annual average wage in a single day.

However, it must be noted that Investec’s Directors are paid in Pound Sterling (£), meaning they earned considerably more when converted to the local currency, given the rand’s weakness.

Standard Bank CEO Sim Tshabalala earned the third highest pay at R55.69 million or R152,575 per day, while Absa’s Arrie Rautenbach and Nedbank’s Mike Brown are at the bottom – making R46.05 million and R43.6 million or R126,164 and R119,452 per day, respectively.

CEO salaries have increased exponentially

According to a study conducted by the Economic Policy Institute in 2021, over the past 45 years (since 1978), CEO compensation has increased by a staggering 1,460% – outstripping even the best-performing stock markets, including the S&P 500’s notable growth of 1,063% over the same period.

The study analysed the CEO earnings of the top 350 firms in the United States of America, using a “realised measure” that included stock awards when vested and stock options when cashed in and ownership is taken.

According to the report, CEOs are getting ever-higher pay over time because of their power to set pay and because so much of their salary is stock-related. Considering our South African banking CEO pay structure, this is not hard to believe.

According to Investec group’s annual report, Titi saw his long-term incentives rise by 191% from £1.6 million (R37.90 million) in 2022 to £4.8 million (R113 million).

Captitec’s CEO Fourie also received a long-term incentive (including vested awards) of R39.74 million as part of this salary. Standard Bank’s and Absa’s CEOs, Tshabalala and Rautenbach, also received deferred and performance awards.

Tshabalala received a deferred award of R10.65 million and a performance award of R25.8 million, and Rautenbach received a deferred award of R8.75 million and a performance award of R18.28 million.

Rautenbach’s pay, including vested awards, translated to an 82.7% increase from the R25.22 million he received in 2021.

[businesstech.co.za]

Related

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Previous Post

Bank Gaborone champions inclusion, diversity 

Next Post

YOUTH DEVELOPMENT FUNDS ARE COMING THIS YEAR! -BDP National Youth Executive Committee

Related Posts

Botswana\’s Top 100 CEOs unveiled
Business

Botswana\’s Top 100 CEOs unveiled

August 29, 2025
Betway fixingwithdrawal glitches
Business

Betway fixingwithdrawal glitches

August 29, 2025
Bold pitch for BETP
Business

Bold pitch for BETP

August 27, 2025
Botswana Mining Show coming 
Business

Botswana Mining Show coming 

August 20, 2025
StanChart upbeat on CIB transition
Business

StanChart upbeat on CIB transition

August 19, 2025
BOSETU disburses P2 million bursaries
Business

BOSETU disburses P2 million bursaries

August 15, 2025
Next Post
YOUTH DEVELOPMENT FUNDS ARE COMING THIS YEAR! -BDP National Youth Executive Committee

YOUTH DEVELOPMENT FUNDS ARE COMING THIS YEAR! -BDP National Youth Executive Committee

Please login to join discussion
  • BOBA Drugs and Substance Abuse Awareness tournament in JwanengAugust 30, 2025
    RelatedPosts BOBA Drugs and Substance Abuse Awareness tournament in Jwaneng Bold pitch for BETP 346 perish in road mishaps 
  • Statistics Botswana flat brokeAugust 29, 2025
    Statistics Botswana flat broke   RelatedPosts Statistics Botswana flat broke Botswana\’s Top 100 CEOs unveiled Betway fixingwithdrawal glitches Suspend 2025 Agric census due to budget constraints Struggles to pay staff salaries, suppliers, etc Management reported to minister, misappropriationalleged  … Read more: Statistics Botswana flat broke
  • Botswana\’s Top 100 CEOs unveiledAugust 29, 2025
    Botswana's Top 100 CEOs unveiled Progressive Institute to hostTop CEO Conference&Awards Geared towards honouring and cementing resolute leadership GORATAONE KGOSIMORE RelatedPosts Statistics Botswana flat broke Botswana\’s Top 100 CEOs unveiled Betway fixingwithdrawal glitches editors@thepatriot.co.bw   The Progressive Institute has… Read more: Botswana\’s Top 100 CEOs unveiled
  • DIALOGUE VACANCYAugust 28, 2025
      WE ARE HIRING FOR WHAT’S NEXT RelatedPosts DIALOGUE VACANCY TENDER NOTICE CHOPPIES VACANCY – ASIAN CHEF Botswana’s leading agency is looking for the best talent. At The Dialogue Group (TDG), bold thinking meets precision delivery and work that… Read more: DIALOGUE VACANCY
  • Betway fixingwithdrawal glitchesAugust 27, 2025
    Betway fixingwithdrawal glitches Partners with banks for seamless transactions Punters decry limited withdrawals, inconveniences Mabiletsa appreciates strong relationship with VIP clients KITSO RAMONO RelatedPosts Statistics Botswana flat broke Botswana\’s Top 100 CEOs unveiled Betway fixingwithdrawal glitches editors@thepatriot.co.bw   Betway… Read more: Betway fixingwithdrawal glitches
The Patriot On Sunday

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?