OTTAWA – For the first time, Canada’s 100 highest paid CEOs netted 209 times more than the average worker made in 2016, according to a new report from the Canadian Centre for Policy Alternatives (CCPA).
The report shows the country’s highest 100 paid CEOs on the S&P/TSX Composite index now make, on average, $10.4 million — 209 times the average income of $49,738, up from 193 times more in 2015.
“Canada’s corporate executives were among the loudest critics of a new fifteen dollar minimum wage in provinces like Ontario and Alberta, meanwhile the highest paid among them were raking in record-breaking earnings,” says the report’s author, CCPA Senior Economist David Macdonald.
“CEOs are making 316 times more than someone who makes fifteen dollars an hour. If shareholders can afford this year’s CEO pay hike, they should absolutely be endorsing higher wages at the bottom as well.”
Among the report’s findings about the highest paid 100 CEOs in Canada: