The Canadian Centre for Policy Alternatives (CCPA) this morning blasted the pay gap between Canada’s top-paid CEOs and average Canadians.
“The average of Canada’s CEO Elite 100 makes 189 times more than Canadians earning the average wage,” said Hugh Mackenzie, economist and author of the report, Canada’s CEO Elite: 100.
The average Canadian worker’s salary is $44,366.
Mackenzie added the income gap has risen sharply since 1998, when the highest paid 100 Canadian CEOs earned 105 times more than the average wage.
The report found Canada’s top CEOs pocketed an average of $8.43 million in 2010 – a 27% increase over the average $6.6 million they were paid in 2009.
The report also found that:
- Canada’s Elite 100 CEOs are among the country’s richest 0.01%;
- the lowest paid of Canada’s CEO Elite 100 took home $3.9 million in 2010; and
- all but one of Canada’s highest paid 100 CEOs on the TSX Index is male.
Jenny Wagler
@JennyWagler_BIV