Private sector compensation is still outpacing the public service, according to a new study by the Canada West Foundation.
Canada's top bureaucrats would need a 24-fold pay raise just to make the same as the country's lowest-paid bank CEO.
The report by the Calgary-based research agency found the compensation gap between senior civil servants and the highest ranked corporate executives continue to grow despite efforts to close it.
Canada's highest-paid banker earns 86 times what the federal deputy minister of finance earns.
While the Canada West Foundation (CWF) isn't advocating for civil servants to receive corporate CEO pay, the widening gap means the public service be hard pressed to recruit top talent in a tightening labour market, said CWF economist Brett Gartner.