Top Canadian CEOs have already earned more than average worker's 2017 pay

By anna smith

According to a new report, Canada’s 100 highest earning CEOs have already made more than the average Canadian will in the entirety of 2017.

An analysis by Ottawa-based thinktank Canadian Centre for Policy Alternatives revealed this information. They also found that CEO earnings in Canada have risen to record levels in recent years, with the top 100 CEOs earning an average of C$9.5 million in 2015. Their compensation is now 193 times that of the average industrial wage in Canada.

“Sadly, I’m not really surprised by the findings at all,” said Hugh Mackenzie, the author of the report. The executives’ pay has proven to be resilient, growing some 7 percent over 2014 figures even as the Canadian economy shrank.

In 1995, the thinktank followed 50 of Canada’s highest-earning CEOs and discovered that they made around 85 times the average income. By 2015, this same group was making 290 times the average Canadian income of C$49,150.  “Not only are these high incomes, but they are incomes that demonstrably have grown significantly relative to the incomes of average people,” said Mackenzie

According to a new report, Canada’s 100 highest earning CEOs have already made more than the average Canadian will in the entirety of 2017.

An analysis by Ottawa-based thinktank Canadian Centre for Policy Alternatives revealed this information. They also found that CEO earnings in Canada have risen to record levels in recent years, with the top 100 CEOs earning an average of C$9.5 million in 2015. Their compensation is now 193 times that of the average industrial wage in Canada.

“Sadly, I’m not really surprised by the findings at all,” said Hugh Mackenzie, the author of the report. The executives’ pay has proven to be resilient, growing some 7 percent over 2014 figures even as the Canadian economy shrank.

In 1995, the thinktank followed 50 of Canada’s highest-earning CEOs and discovered that they made around 85 times the average income. By 2015, this same group was making 290 times the average Canadian income of C$49,150.  “Not only are these high incomes, but they are incomes that demonstrably have grown significantly relative to the incomes of average people,” said Mackenzie.

 

SOURCE: [The Guardian]

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