OTTAWA -- It's 10:33 a.m. on the first day of work following New Year's Day. Do you know how much your boss has earned so far this year? If he's a top Canadian CEO and you are an average Canadian worker, about as much as you will make all year. According to a new analysis of escalating CEO compensation compiled by the Canadian Centre for Policy Alternatives, the average of the 100 highest-paid Canadian chief executives working for a publicly traded company earned $8,528,000 and chump change in 2006, compared to the average salary of $38,998 for people who aren't CEOs.
That means it will take just over nine hours for the average boss in most large Canadian firms to earn what an average Canadian earns all year, or more precisely 10:33 a.m. today if it is assumed both were paid for New Year's and got to work at 9 a.m.
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