Canada's 100 highest-paid CEOs earned an average of $13.2 million in 2023, a decline from record highs in 2021 and 2022, according to the Canadian Centre for Policy Alternatives. While still significantly higher than historical averages, the report attributes the decrease to lower company profits and wage gains for workers. The study highlights the growing income gap between CEOs and average Canadian workers, with top CEOs earning 210 times more in 2023 compared to 104 times more in 1998.
Canada’s 100 highest-paid CEOs earned $13.2 million on average in 2023 from salaries, bonuses and other compensation, according to the Canadian Centre for Policy Alternatives.
The CCPA calculates that by 10:54 a.m. on Jan. 2, the average CEO on the list had made $62,661 — the average annual income for a Canadian worker. Salaries were generally not the main source of CEOs’ total compensation, with most of it coming instead from other forms of compensation like share-based awards and option-based awards.
Most of the CEOs on the list are men, with just three women making the list — outnumbered by both CEOs named Scott and Michael .
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