Pay was more than 82 times the average worker's 2021 compensation
B.C.’s 100 top-paid executives’ total compensation last year rose slightly, but not by as much as the average Canadian worker.
B.C. workers’ average weekly wages rose 3.9 per cent in 2021, 3.4 per cent in 2022 and are tracking four per cent in 2023, according to Statistics Canada. The lion’s share of many executives’ total compensation usually comes from share-based or options-based rewards, bonuses, pension benefits, long-term compensation and other perks instead of through a base salary.
Companies, such as Lululemon Athletica Inc. , make clear in corporate filings that they have a compensation system that “rewards exceptional performance” in order to align executive benefits with value created for shareholders. Entwistle’s $17,486,325 pay package in 2022 came more than 90.8 per cent from rewards outside of his $1.6 million base salary. The bulk of his pay package came from $13,782,880 in share-based rewards. He also received a $1,082,880 bonus.
One measure of corporate performance that shareholders prize is the company’s share price. Another is growth in the company’s market capitalization. “We don't pay for golf memberships or things like that –that was probably even a little before my time,” said Doman, who is in his early 50s. “Back in the day, some of the companies we acquired used to do that, but really, you don't hear about that anymore.”
“We’ve got a full floor and a bit for the team on Melville Street, and I’ve just got a small office with a desk,” Doman said. “It does have two windows but it’s not a spacious corner office. It’s small, sparce and no different from other executives.”
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