Executives’ ‘obscene’ salaries exposed

The Zimbabwe Congress of Trade Unions (ZCTU) has revealed that most company executives in various industries earn an average of over $8 000 per month, excluding allowances and other benefits, while their subordinates take home a paltry $200 per month.

The ZCTU said it had compiled a dossier of company executives’ earnings and wanted the details made public.

“The ZCTU has been vigorously campaigning that salaries of executives be made public as most are earning obscene salaries as compared to the ordinary workers,” a statement from the labour body reads.
According to the document, there are levels one to 16, level one being that of executives.

In manufacturing, executives earn $9 914, in banking they earn $11 837, in insurance executives get $6 429 while in the hospitality industry and at parastatals they earn $11 540.

Telecommunications executives earn $8 283 and the average executive at a non-governmental organisation earns $10 306.

The lowest-paid employee earns an average of $200 per month.

There are also numerous benefits which executives get, such as fuel, cellphone allowances, medical aid, pensions, vehicle allowances, school fees, housing and entertainment allowances as well as annual bonuses.

According to the document, fuel allowances range from 250 litres to 350 litres per month for the chief executive officer and between 150 litres and 350 litres per month for executives below the chief executive officer.

Cellphone allowances range from $250 to $935 per month for managing directors and between $100 and $250 per month for the executives below the managing director.

Some companies pay between $1 500 and $2 500 in school fees per child per term for two or three children.
Some companies pay 100% school fees for executives including university fees both locally and abroad.

For executives below the CEO, most companies are paying between $1 000 and $2 000 per term per child for two or three children.

The document also reveals that some companies offer entertainment rates of between $100 and $120 per month to their top executives.

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