This was the finding of an investigation into the compensation of employees at South Africa’s largest IT and telecommunications companies.
For this analysis, MyBroadband looked at the latest employee information disclosed in the financial reports of JSE-listed ICT companies and state-owned enterprises (SOEs).
While state-owned enterprises typically report their average employee salaries, JSE-listed companies do not.
For JSE-listed companies, we divided employee remuneration, including salaries and bonuses, by the number of employees.
The latest salary statistics showed that state-owned enterprises typically pay higher average salaries than their private counterparts.
There are two exceptions — Vodacom and MultiChoice. They pay the highest average salaries at R914,682 and R841,064 per year, respectively.
The average salary at South Africa’s top IT and telecoms companies is over R635,000 per year or R52,900 per month.
It is no surprise that employees of ICT companies in South Africa are earning good salaries.
There is a shortage of engineering, IT, and telecommunications skills in South Africa, which means companies have to pay well to attract and retain these skills.
IT and telecoms companies also tend to employ a higher ratio of highly qualified and skilled professionals, which increases the average salary in a company.
The table below provides an overview of the number of employees and their average salaries at South Africa’s SOEs and top tech companies.
Eskom’s interim results for the six months ended 30 September 2020 were annualised to ensure as fair a comparison as possible.
|South African SOEs and Tech Companies|
|Company||Employees||Average Employee Salary|