The average monthly earnings of an employee in the platinum industry last year was about R18 678 at the

end
of 2013, according to figures from the department of mineral resources. The entry-level wages represent the
total cost to company of entry-level underground mine workers. This excludes production bonuses while the
executives’ pay include the equivalents of production bonuses that they receive. This potentially skews the
“gap” as the production bonus can hypothetically increase workers’ earnings by up to 50%. That would, for
instance, reduce the gap at Anglo from 170 to closer to 100
Terrence Goodlace got paid R7.5 million in
2013. The massive discrepancy between his
and his peers’ pay is due to him electing not
to receive any of the usual share-based
incentives
Anglo
American
Vs
entry level
Lonmin
Impala
170
135
67
Vs
average
Entry-level
salary per
month
CEO pay
78
71
33
R8 604 R1.46 million per month
R1.32 million per month
R625 000 per month
R9 790
R9 297
Chris Griffith’s pay in 2013
Ben Magara got R12.5 million after getting
R2.3 million at Anglo before leaving midyear
CEO wage gap in the platinum sector
Graphics24

Related Interests