Not only are boards complicit in the executive compensation rip-off, but the government kicks in a significant share as well.
More and more, administrators are squeezing their workers as much as possible to cover teaching and research. Sessional lecturers are being used as low-cost labour for the former while the latter is now increasingly being undertaken by postdoctoral scholars.
Regulators have a poor track record of getting executive pay right. Indeed, some say U.S. Congress has been the single greatest driver of increasing CEO pay. According to a survey by Mercer, a majority of UK board members believe the executive pay model is broken. Here are three ways to fix it.
By coincidence, just as the Academy Awards were being handed out, our executive recruitment firm, Rosenzweig & Company, was getting ready to release its 10th annual Report on Women at the Top Levels of Corporate Canada. The findings show that wage equality, while important, is just part of the issue. The reality is that even if women in Canada achieve complete wage equality at every level, there are far too few women in the highest paid corporate executive positions positioned to reap that reward.
CEO pay in Canada grew at nearly four times the pace of average earnings in 2013, according to data from Global Governance
Thornton's pay remains an issue for some major shareholders. But whether or not investors supported Barrick's latest compensation plan at the annual meeting on April 30, the company deserves credit for making significant changes to its governance structure.
In the public sector in Ontario, there have been several governance scandals, including Ontario Power Generation, eHealth, Ontario Lottery and Gaming Corporation, and Ornge, that have included compensation and spending. What this reveals is defective oversight. Governance is not government.
VICTORIA - The board of BC Ferries is axing bonuses and freezing pay for senior managers after a taxpayers group lobbied
BC Ferries is being heavily criticized after it emerged there is still no plan to curb executive bonuses despite pledges
People leave jobs because of the tyranny of the manager. And right now we have a lot of people who are ruling over your employees and using fear as their primary weapon. You just don't know it, or in a minority of cases, you learn about it after the damage is done.