Five years after a global recession knocked the wind out of Canada’s labour market, throwing tens of thousands of workers onto the unemployment line and sidelining a generation of young workers, the compensation of Canada’s CEO elite continues to sail along.
By 1:11pm on January 2, the first official working day of the year, Canada’s highest paid CEOs have already pocketed $46,634 — what it takes most Canadians an entire year, working full-time, to earn.
CCPA's annual CEO pay review, by economist and CCPA Research Associate Hugh Mackenzie, takes a snapshot of the 240 publicly listed Canadian corporations on the TSX Index, ranks the highest paid 100 CEOs on that list, and determines their average total compensation.
This year's review looks at the 2012 compensation levels for Canada’s CEOs (latest available data) and finds they pocketed an average of $7.96 million—a stark contrast from the average Canadian income of $46,634.
Read the full pay review: All in a Day's Work? CEO Pay in Canada.
You can also follow along and keep track of who's making what. Visit our CEO Pay Clock.