While most Canadians have been hit hard by the global recession, everything is going swimmingly for Canada’s 100 highest-paid CEOs.
A new report from the Canadian Centre for Policy Alternatives (CCPA) shows an ever-widening income gap between Canadian workers and the country’s top executives.
Economist Hugh Mackenzie finds that the total average compensation for Canada’s 100 highest-paid CEOs was $7,352,895 in 2008—a stark contrast from the total average Canadian income of $42,305. In fact, on January 4th, the first working day of the year, many CEOs will have already pocketed what the average Canadian makes in an entire year.
Read Hugh Mackenzie’s report on executive compensation, or use the CCPA’s CEO pay calculator to find out how quickly a top CEO will earn your salary.