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 average CEO of a top-100 company will earn as much money as an average worker will make all year by 10:09 a.m. on Jan. 2, the report states, citing 2018 corporate compensation data.
The ratio of the average top-100 CEO pay compared with the average individual income was 202 to one for 2019 compared with 227 to one in 2018.
This report by The Canadian Press was first published Jan. 4, 2021.
With files from HuffPost Canada.
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