Canada’s 100 highest-paid CEOs broke records with their compensation in 2022, according to the Canadian Centre for Policy Alternatives. The average CEO was paid $14.9 million, 246 times more than the average Canadian worker. The gap between CEO and worker pay widened as prices rose by 6.8% in 2022.
Canada ’s 100 highest-paid CEOs broke records with their compensation in 2022, according to the Canadian Centre for Policy Alternatives. The organization’s annual report found that the CEOs, most of them men, were paid an average of $14.9 million, up from an average of $14.3 million in 2021. That’s $7,162 an hour, 246 times more than what the average Canadian worker makes.
Before the second day of the new year is over, the average CEO has already made the average worker’s yearly salary, the report said. That gap widened in 2022, as the average worker saw their pay rise three per cent while CEOs’ pay rose on average by 4.4 per cent. Meanwhile, prices rose by 6.8 per cent that year, the report said. “This is very much related to what's happening to corporate profits in 2022, similar to what happened in 2021,” said Macdonald. “It is a similar story of inflation driving profits, profits driving bonuses, and CEOs reaping the reward
Canada Ceos Compensation Record Average Worker Pay Gap Corporate Profits Inflation Bonuses