Earlier this week, I spoke to you about a study by the Canadian Centre for Policy Alternatives. I invite my colleagues to consult another study that I have been reading, which is entitled: All in a Day’s Work? CEO Pay in Canada.
The Canadian Centre for Policy Alternatives said that at 1:11 p.m., on January 2, 2012, or midway through the first work day of the year, most of the 100 top-earning CEOs in Canada had already earned $46,634, or the entire annual salary of most Canadians working full time.
By the end of 2012, each of those 100 CEOs had pocketed $7.96 million, or 171 times more than the average Canadian man and 194 times more than the average Canadian woman. As you know, we have not reached parity.
What does the government intend to do to learn from the financial crisis, reduce wealth inequality, and follow the lead of other jurisdictions that have started to rein in compensation that has nothing to do with the productivity of the people who earn the average salary of a Canadian in half a day? (more…)