Top earning Canadian CEOs make 189 times more than average worker
For many Canadians, January 3 was the first day back at work after a restful holiday break. For the highest paid 100 CEOs on Canada’s TSX Index, it was also the day that they amassed what an average Canadian earns in an entire year.
By noon on January 3, 2012, the Canadian Centre for Policy Alternatives (CCPA) says that Canada’s Elite 100 CEOs had already made the Canadian annual average of $44,366. For the entire of 2010, these CEOs pocket an average of $8.38 million – a 27% increase over the average $6.6 million they took in 2009.
The highest paid of the CEOs earned the average Canadian wage by about 10:30 am on January 2. The lowest paid among the Elite 100 will surpass the average Canadian wage earner by 4:43 pm on January 4.
“The average of Canada’s CEO Elite 100 make 189 times more than Canadians earning the average wage,” said the report’s author, Economist Hugh Mackenzie.
“If you think that’s normal, it’s not. In 1998, the highest paid 100 Canadian CEOs earned 105 times more than the average wage, itself likely more than double the figure for a decade earlier.”
Read the full report from CCPA online. (PDF)
