Canadian CEOs make 171 times the average worker: review
Posted January 2, 2014 8:53 am.
This article is more than 5 years old.
TORONTO (NEWS1130) – A review of Canada’s corporate leaders has found the top-paid chief executives received an average compensation of $7.96 million in 2012.
The Canadian Centre for Policy Alternatives compares the average pay of the top 100 CEOs with the average Canadian worker’s annual salary of $46,634.
The centre says CEO pay for Canadian public companies listed on the Toronto Stock Exchange ballooned by 73 per cent between 1998 and 2012, the latest figures available. In contrast, the average Canadian full-time worker’s salary grew by just six per cent during the same period.
The centre also says by 1:11 p.m. on January 2nd (the first official working day of the year), the highest-paid CEOs will have already pocketed what it takes most Canadians an entire year, working full-time, to earn.
Report author Hugh MacKenzie says there’s no clear relationship between CEO compensation and any measure of corporate performance.
The list of 100 top-paid CEOs only included three women in 2012.
