Canada’s new gilded age

CEO pay in Canada in 2022
January 2, 2024
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Read the full report online here.

The average CEO collects $7,162 an hour. It takes just over eight hours in the new year for the top 100 CEOs to clock in an average of $60,600—what the average worker in Canada makes in an entire year. By 9:27 a.m. on January 2, 2023, Canada’s top CEOs would have already made $60,600 while the average Canadian worker will toil all year long to earn that amount of pay.

While the wave of inflation has been crashing down hard on regular Canadians, Canada’s 100 highest-paid CEOs have been riding it to another record-smashing year. Inflation presented a-once-in-a-lifetime chance for corporate Canada to jack up prices and pad their profit margins. As a result of these record-high margins, this report documents new all-time highs acrossthe various metrics that we employ to track the compensation packages of Canada’s 100 highest-paid CEOs.

In 2022, the most recent year of data, Canada’s top 100 CEOs were paid a whopping $14.9 million, on average. This is an all-time high and bested the previous record of $14.3 million, which was set last year. This is more than double what CEOs got in 2008—$7.4 million—when the CCPA started publishing this data set.