The SARB released its annual report yesterday. It shows that over the last year, the Governor’s total pay package rose by 10.2%. Headline CPI inflation averaged 5.5% since 2002, while SARB average wages grew at 8.3% per year (or 8.7% if benefits are included). Average wages are just shy of R1.2 million (excluding medical and pension benefits), or almost R1.5 million including benefits. Unfortunately, SARB does not report detailed data for different roles in the organisation or by level of seniority over time so one cannot tell the extent to which average wage changes reflect a compositional shift in the staff complement.
