2025 Directors Remuneration and Trends Report

Welcome to the 18th edition of PwC’s Directors Remuneration and Trends Report. This report offers a combined analysis of executive and non-executive directors’ remuneration data from the Johannesburg Stock Exchange (JSE) Top 200 companies, and valuable market insights to help our clients understand current remuneration trends. 

A snapshot of executive directors’ total guaranteed pay (TGP), short-term incentive (STI) and long-term incentive (LTI) outcomes, total remuneration (TR), as well as remuneration voting insights and trends are included in this report. As far as non-executive directors are concerned, proposed fees for chairpersons, deputy chairpersons, lead independent directors and board members are included. 

This year, key findings from the report highlight that executive directors saw a notable increase in total remuneration, with CEOs and CFOs receiving 8% and 19% more, respectively. This is driven by higher guaranteed pay and improved variable incentives—contrasting with the previous year’s decline in incentives. Non-executive directors received above-inflation increases in fees, with a 12% median rise for board members and a 6% increase for board chairs. Despite these increases, shareholder support remained strong at 98.11%, which is consistent with the prior year. 

Contact us to purchase the full report

The detailed report with an analysis of director remuneration segmented by role, size and sector, as well as shareholder voting patterns by industry, is available for purchase at R40,000 (excluding VAT) and can be requested here. This analysis report also features executive director total remuneration (including fixed and variable pay) and non-executive director committee fees, segmented by size and industry.