CEO earns millions while lowest paid worker gets peanuts: Parks

New research by Just Share has revealed that CEOs in South Africa earn on average 597 times what the lowest paid workers earn.

COSATU’s Parliamentary Coordinator Matthew Parks says in the banking sector, a cashier will take a decade to earn what a CEO gets in two-days.

Parks says, “You might find in a banking sector, a CEO making R1 million in two days, a cashier might take a decade to earn that kind of money. You have similar stories in the retail sector, CEOs of big supermarkets earns millions while the lowest paid worker gets peanuts. Some CEOs of mining companies receive huge packages. Workers go on strike for an extra R150, while the company says it doesn’t have money to pay increases. It turns that the CEO is paid out R300 million in a year.”

Full interview below: