January 23rd, 2018

Top Paid CEOs Continue To Earn Staggering Amounts in Canada

The first couple of weeks back at work after the holidays can be tough. You have to get back into your routine and are usually dealing with pretty cold weather.

But going back to work in the new year wasn’t so bad for Canada’s top CEOs.

By 11 AM on January 2, the highest paid CEOs had made what a Canadian will take home on average per year – $49,738. Not bad for a couple of hours of work.

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The report from The Canadian Centre for Policy Alternatives showed that CEO salaries are on the rise and are widening the gap between the rich and the poor. This gap has reached new highs with the top earning CEOs earning an average annual compensation of $10.4 million.

This income gap in Canada has become a major concern, especially for women, visible minorities, Indigenous Canadians and recent immigrants.

A recent study by statistics Canada has found that the income gap between visible minorities, Indigenous or recent immigrants and the rest of Canada remains large, with the gap only narrowing by 2 per cent for Indigenous and recent immigrants and widening by 1 per cent for visible minorities between 2006 to 2016.

In Canada women earned $0.87 for every $1 earned by a man last year. This gender gap can be found in this study as well with only three out of the 100 top-earning CEOs who were women – Linamar’s Linda Hasenfratz: $14.6 million, Transalta’s Dawn L. Farrell: $7.4 million and Atco and Canadian Utilities Limited’s Nancy Southern: $5.4 million total compensation.

Download Our Guide On How To Know If Your Workplace Needs A Union!

Unions are one of the strongest forces against inequality in the workplace and society. It is well known that as unionization has declined, inequality has increased. Not only do union members earn more than non-union members, but they help set the bar for salaries in industries across Canada.

As we enter into 2018 unions will continue to fight to make the income gap smaller in Canada.

4 Responses

  1. Brent Coady says:

    Thank God for unions.

  2. Carole Findlay says:

    How are the lower paid supposed to make any changes when it’s the RICH and OBSCENE RICH, who make all the decisions — there are no poor politicians to represent the poor at the table to talk about how inconvenient it is to have so many poor making so much noise. It’s the RICH who sit at the table being served really expensive and good quality food who make the decisions on what the poor will eat. Without food, housing and safety — how the heck are the poor supposed to be able to fight those who have it all?!!!!! We can rally, scream, fight and cry all we want – we are not being heard by those who are so greedy. There is enough for the NEED of all, not enough for the GREED of a few. There are too many ears stuffed full of money – they are not listening. Until the day comes that a poor person is invited to the table to share the struggles and provide solutions — this will be, as it has always been, the way it is for the rich.

  3. Donna says:

    Unions should be about helping the worker ….not using stats on women and visible minorities, Indigenous or recent immigrants,. What happened to helping out the workers. virtue signaling for unionization is all you see now a days. You just want that union due monthly…. Unions have lost sight of helping the worker. Stop trying to help the world, and help your workers that pay that monthly dues. Union workers are working for less, paying to go work, out of town. No LOA , working weekends for straight time everything we fought for being striped away little by little .Contracts mean nothing anymore, Union reps with give the shirts right off our backs. Shame on our unions today.

  4. Greg Luciani says:

    Why can’t travel agents be in a union? As a travel agent we have no collective bargaining and get crushed by our suppliers.

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