January 17th, 2021

Top CEO pay in 2019 fell, but still more than 200 times average workers: CCPA report


By The Canadian Press on January 4, 2021.

Office towers are shown from Bay Street in Toronto's financial district, on Wednesday, June 16, 2010. A new report by the Canadian Centre for Policy Alternatives says the average amount paid to the country's top chief executives in 2019 was down from 2018, but was still more than 200 times the average worker compensation.THE CANADIAN PRESS/Adrien Veczan

TORONTO – A new report by the Canadian Centre for Policy Alternatives says the average amount paid to the country’s top chief executives in 2019 was down from 2018, but still more than 200 times the average worker compensation.

The annual report says the average pay of a top-100 CEO in 2019 was $10.8 million, down from a record high of $11.8 million in 2018.

It says the decline was largely accounted for by several CEOs receiving extremely high compensation packages in 2018, compared to 2019.

Meanwhile, the average individual income in Canada for 2019 was $53,482, up from $52,061 in 2018.

The ratio of the average top-100 CEO compared with average individual income was 202 to one for 2019 compared with 227 to one in 2018.

The report says that means by 11:17 a.m. on the first workday of the day the average top-100 CEO made as much money as the average Canadian worker would make all year.

This report by The Canadian Press was first published Jan. 4, 2021.

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