On the same day average Canadian workers are still wishing colleagues a Happy New Year, the country’s top-paid CEOs have likely already earned more than most of their subordinates.
Canada’s top-100 highest-compensated CEOs took home an average of $8.96 million in earnings in 2014, according to a report released January 4 from the Canadian Centre for Policy Alternatives (CCPA).
The average Canadian worker, meanwhile, earned $48,636 that same year.
“Based on these data trends, the average top-100 CEO will have earned the annual wage of the average Canadian worker by 12:18 p.m. on January 4, 2016—the second paid day of the year,” the report said.
The CCPA examined earnings of CEOs of Canadian corporations traded publicly on the TSX Index.
The report found just two women made the list that included five men named Steve, five named Paul and five named Peter or Pierre.
The highest-compensated executive at a B.C.-based company was Eldorado Gold's (TSX:ELD) Paul Wright. He ranked No. 8 on the list after bringing home $13.8 million in base salary, bonuses, shares, options and pension earnings in 2014.
In total, 11 CEOs of companies based in B.C. made the list.
Teck Resources (TSX:TCK.B) CEO Donald Lindsay was No. 26 ($9.97 million), former Telus (TSX:T) CEO Joe Natale was No. 28 ($9.43 million) and retiring Goldcorp (TSX:G) CEO Chuck Jeannes was No. 30 ($9.41 million).
Ritchie Bros Auctioneers transitioned CEOs in 2014, leaving new CEO Rav Saligram to rank No. 54 ($7.25 million), while predecessor Peter Blake still earned enough that year to make it to the bottom of the list at No. 100 ($4.28 million).
