Sasol Integrated Report 2024 - Book - Page 161
INTRODUCTION
ABOUT SASOL
STRATEGIC OVERVIEW
BUSINESSES
ESG
DATA AND ASSURANCE / ADMINISTRATION
REMUNERATION REPORT
PART IV: REMUNERATION IMPLEMENTATION REPORT continued
This page provides pay gap, lowest, highest, average and median earning data in line with the Companies Amendment Act No. 16, 2024. In addition, we also include for a comparison, the target variable pay
awards which is the amounts due if all incentive targets for these short-term and long-term awards have been met. The highest earner actual data may differ from what is disclosed in the Executive Director
and Prescribled Officer (ED/PO) tables as this data reflects what was actually processed and not what was accrued or approved by the Committee.
Section A: Pay information and pay gap data using actual payroll data as processed
in the periods 1 July 2022 – 30 June 2023 and 1 July 2023 – 30 June 2024.
Data analysis includes all permanent and non-permanent employees but excludes learners who are in
training and receive a stipend. The short-term incentives and long-term incentives processed through
the payroll during FY23 and FY24, are included.
In addition:
• Payments for employees who only worked a portion of the year, are not annualised which means that
where an employee was only employed for one month, we only disclose the one month’s earnings;
• Employer contributions to employee benefit funds as well as leave encashments at service
termination, all allowances and overtime are included; and
• Benefits in kind which include transportation, uniforms, meals on site etc., are excluded.
Section B: Pay information and pay gap data using actual payroll data fixed,
and contingency pay, and target incentive amounts; for the periods 1 July 2022
– 30 June 2023 and 1 July 2023 – 30 June 2024.
The difference in the data included in this section, is as a result of the following principles differently
applied than in Section A:
• Variable pay amounts are set at the target levels for different role categories and not the actual
amounts processed; this approach eliminates substantial year-on-year changes in variable pay
amounts which improves, in our view, tracking of the pay gaps;
• The earnings data for non-permanent employees are excluded; and
• The earnings for employees who worked for less than one year, are annualised.
This data set is based on a headcount of 24 930 in FY23 and 25 758 in FY24.
The data is based on a headcount of 25 125 in FY23 and 26 279 in FY24.
A. Actual earnings and allowances + actual STI + LTI gains
B. Actual earnings and allowances + target STI + target LTI
Highest and lowest actual earnings
Highest and lowest target earnings
Median
R720 991
R736 226
Median
R752 227
R804 558
Average
R910 438
R910 291
Average
R952 590
R1 007 164
Highest target
earnings
R49 765 894
R53 088 238
Lowest target
earnings
R171 038
R172 383
Highest actual
earnings
R42 404 442
R31 884 761
Lowest actual
earnings
R11 560
R19 722
FY23
FY23
FY24
FY24
The year-on-year differences in the highest earnings are mostly caused by variable pay awards. The year-on-year differences in the lowest earnings, relates to employees only being employed for a portion of
the year as well as the position the employee was employed in. The change in median and average earnings relate to the growth in headcount at different levels in the organisation.
Ratio of Top 5% vs. Bottom 5%
FY23
Bottom 5%
Sample Size
Average
Ratio
1 256
R230 909
14.57
Ratio of Top 5% vs. Bottom 5%
Top 5%
1 256
R3 364 216
FY24
Bottom 5%
1 313
R200 385
16.60
Top 5%
1 313
R3 326 004
The difference in the ratio of
the average actual earnings
of the top 5% vs the average
of the bottom 5% is mainly
attributed to the change in the
headcount and the jobs that
these employees occupy. Year
on year changes in variable pay
settlements (STI & LTI) have
also impacted the changes in
the average amounts.
FY23
Bottom 5%
Sample Size
Average
Ratio
SASOL INTEGRATED REPORT 2024
1 256
R348 259
8.26
159
Top 5%
1 256
R2 877 423
FY24
Bottom 5%
1 287
R363 025
8.50
Top 5%
1 287
R3 087 161
The slight increase in the target
pay ratio between the top
5% earners and the bottom
5% earners, year-on-year, is
attributed to the employment
of more senior employees and
specialists in critical roles over
the period.
