According to a report released Tuesday by the Canadian Centre for Policy Alternatives, an Ottawa-based think-tank, the 100 best-paid chief executive officers in Canada now make 243 times what the typical worker earns: $14.3 million versus $58,800.
Bank towers are shown in Toronto's financial district, home to many of the country's top-paid CEOs. A new report found that the 100 best-paid chief executive officers in Canada now make 243 times what the typical worker earns: $14.3 million versus $58,800.
Some experts say that the issue isn't directly how much executives make, but rather how they make it. Among the think-tank's suggestions to close the pay gap is a wealth tax — though that could pose issues of its own.The best-paid executives in Canada earned an average of $14.3 million in 2021, according to the CCPA's report, which analyzed data from companies on the S&P/TSX Composite Index.
The CCPA's report says that those CEOs in the top tier earn only eight per cent of their income from an actual salary. It notes that during the last few years, there has been an increased reliance on "bonus-type compensation" that, in theory, is based on company profits, revenue and performance.
"The job is unbelievably demanding to be a successful CEO.... They are paying these people, these executives of these very large, complex corporations to deliver certain results," Lee said. "And the moment you don't deliver, you're out the door." The report makes several suggestions as to how the pay gap can be closed. Among them are closing the capital gains inclusion rate loophole , limiting corporate deductability for compensation over $1 million or introducing higher top marginal tax brackets.Calls to tax the rich
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