Curious about your boss’s salary? You will soon be able to find out

If we’re being totally honest, we’ve all wondered how much more or less money our bosses and colleagues make. Whether it’s because humans are naturally curious or the fact that we’re always wondering if we’re getting paid enough, something about knowing exactly what goes for what always gets us going.

And now the answers might be given to us as a new bill comes to pass which forces companies to be a lot more transparent.

How much money does your boss make? Find out soon

Across the world, we all have questions about salaries and how much the next person is making, especially if we do the same job. Quite frankly even our superior’s salary has always been a mystery that we undeniably had an interest in.

Soon we will wonder no more as a bill that beckons companies to reveal how much each employee makes will soon come to pass here in South Africa.

According to 2OceansVibe, the bill was first raised three years ago, and President Cyril Ramaphosa’s cabinet has approved the Companies Amendment Bill of 2021. It is now set to become official over the next few weeks. What we can expect to see from business are:

• The total remuneration of the highest-paid employee in the company;
• The total remuneration of the lowest-paid employee in the company;
• The average and the median remuneration of all employees;
• The remuneration gap reflecting the ratio between the lowest and the highest-paid employees.

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Is this really necessary?

The bill came into place after it was found that employees in executive positions had considerably higher salaries than those in lower positions.

While transparency may help highlight just how big the gap is, it won’t necessarily fix it. That’s a bill for another day, we guess.

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