CEO Pay: Canada's Top Bosses Earn Average Salary In 1.5 Days

CP | By Linda Nguyen, The Canadian Press Posted: 01/01/2014 8:00 pm EST

TORONTO - By the time average Canadians finished lunch on Thursday, Canada's top paid CEOs had already earned the equivalent of their annual salary. It may be hard to swallow, but according to an annual review by the Canadian Centre for Policy Alternatives, by 1:11 p.m. on Jan. 2, the average top paid Canadian CEO will have earned as much as the average full-time worker's yearly income. The review found the average compensation among Canada's top 100 CEOs was $7.96 million in 2012. This compared with the average annual Canadian worker's salary of $46,634. The centre says CEO pay for Canadian public companies listed on the Toronto Stock Exchange has ballooned by 73 per cent between 1998 and 2012, the latest figures available. In contrast, the average Canadian full-time worker's annual salary has only grown by six per cent during this period. This amounts to the country's top 100 highest-paid CEOs making 171 times the earnings of an average Canadian wage — a jump from 105 times in 1998. Meanwhile, minimum wage workers employed for 40 hours a week earned an average of $20,989 a year in 2012.
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http://www.policyalternatives.ca/sites/default/files/uploads/publications/National%20Office/2014/01/All_in_a_Days_Work_CEO_%20Pay.pdf

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