Ottawa – January 9, 2026 – A new report from the Canadian Centre for Policy Alternatives (CCPA) shows that Canada’s highest-paid CEOs shattered every compensation record in 2024—while working people continued to struggle under rising costs and inflation.

According to Living the High Life: A record-breaking year for CEO pay in Canada, Canada’s 100 highest-paid CEOs now earn 248 times more than the average worker, marking the largest gap ever recorded.

9:23 a.m. on January 2

By just 9:23 a.m. on January 2, Canada’s 100 highest-paid CEOs had already earned what the average Canadian worker will make all year—$65,548.

$16.2 million

The average compensation for Canada’s top 100 CEOs in 2024—setting a new all-time record, surpassing the previous high of $14.9 million in 2022.

$7,812 an hour

Top CEOs now earn an average of $7,812 per hour. It takes them just over eight hours to earn what the average worker earns in an entire year.

248 times more

Canada’s highest-paid CEOs now make 248 times more than the average worker—exceeding even the previous record of 246 times set in 2022.

$205.5 million

The highest-paid CEO in Canadian history: Shopify CEO Tobi Lütke, who received $205.5 million in total compensation in 2024.

49% vs. 15%

Since 2020, CEO pay has increased by 49 per cent, while workers’ pay has risen just 15 per cent—far below the rising cost of living.

$600 billion in profits

Corporate profits now exceed $600 billion annually, well above pre-pandemic levels. CEO compensation is now 84 per cent bonuses, largely tied to corporate profits—meaning inflation-driven price hikes are directly fueling executive pay.

Source: Macdonald, David. Living the High Life: A Record-Breaking Year for CEO Pay in Canada. Canadian Centre for Policy Alternatives, 29 Dec. 2025, https://www.policyalternatives.ca/wp-content/uploads/2026/01/living-the-high-life-Dec-29.pdf