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Jan 2, 2013

Top CEOs to pocket average Canadian wage of $45,448 today

Top 50 earned 235 times more than average worker in 2011: Report
    
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By 1:18pm on Jan. 2, the first official working day of the year, Canada’s top 100 CEOs will have already pocketed $45,448, according to the Canadian Centre for Policy Alternatives (CCPA).

In 2011, the top 100 CEOs pocketed an average of $7,695,625 while the average Canadian wage was $45,488 — and the average woman’s wage was $39,136 — said the CCPA factsheet Overcompensating: Executive Pay in Canada.

The top 100 CEOs received dividends averaging an estimated $1,059,782 on top of their pay.

In 2011, the top 50 CEOs earned an average of 235 times more than the average Canadian. In comparison, in 1995, Canada’s top 50 CEOs made an average of 85 times the average pay, said CCPA.

Canada’s highest-paid CEOs in 2011

Name, company

Total compensation

Frank Stronach, Magna

$40,984,820

Michael Pearson, Valeant Pharmaceuticals Intl.

$36,308,716

Robert Quartermain, Pretium Resources

$16,908,729

Bradley Shaw, Shaw Communications

$15,851,336

Ned Goodman, Dundee

$15,037,835

Rick George, Suncor Energy

$14,857,818

Donald Walker, Magna International

$14,836,948

Gerald Schwartz, Onex

$14,133,703

Robert Friedland, Ivanhoe Mines

$12,574,305

Peter Marrone, Yamana Gold

$12,416,999

A pay clock showing how much the average worker and top CEO have earned so far can be found at The Clash for the Cash: CEO vs. Average Joe.

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