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Top executives 'deserve' high salaries
South Africa's top executives have enjoyed a sharp rise in living standards in the past 15 years and according to Deon Thomson, managing director of Financial Research Associates their pay packages have doubled because it is the "current rate for the job".
Speaking at the Institute of Directors, Thomson said the surge in executive pay is directly related to the shortage of highly skilled people in this country. He says that the chief executive of an intermediate company will now be paid at least R2,2-million a year, up from R1-million in 1995.
The full story appears on page 17 of the Business Report print and electronic editions.
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