Executive Pay Out of Control in Canada (1/7/08)
A report by the Canadian Centre for Policy Alternatives (CCPA) has found that Canada's 100 best-paid CEOs had made more money by January 2 than the average-earning Canadian will make all year. The report highlights the out-of-control executive pay that has taken hold of North America.
A report by the Canadian Centre for Policy Alternatives (CCPA) has found that Canada's 100 best-paid CEOs had made more money by January 2 than the average-earning Canadian will make all year. The report highlights the out-of-control executive pay that has taken hold of North America. By 10:33 am on January 2, the top-paid Canadian CEOs had earned the Canadian worker pay average of $38,998. By the end of the year, the average pay for Canada's 100-best compensated CEOs will be $8,528,304.
"Just as we have seen in the U.S., executive pay is spiraling out of hand in Canada," RWDSU Northern Joint Council President Derik McArthur said. "These outrageous pay packages reward executives for squeezing their employees for every possible cent, and for trying to cut benefits to the bone. When you learn more than your employees do all year in a matter of days, you know that Canada's workers are being left behind."