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article imageAverage annual pay of a top Canadian CEO: $7 million

By Gordon K. Chan     Jan 4, 2010 in Business
The Canadian Centre for Policy Alternatives reports that amidst the worldwide recession, Canada's top 100 CEOs were paid an average of $7.3 million in 2008.
A skip to the bank after lunch at 1pm on January 4th, and a top Canadian CEO will have earned the national average salary of approximately $42K.
The Toronto Sun reports that an elite chief executive makes 174 times the average Canadian wage and stayed comfortably ahead of inflation by 70% from 1998 to 2008.
An average income fell behind inflation by 6% in that same period.
A few of the top earning CEOs include Thomas Glocer, Thomas Reuters Corp ($36.6 million), Ted Rogers, Rogers Communications ($21.5 million), Edmund Clark, TD Bank ($11.1 million), Frank Stronach, Magna International ($10.8 million), Louis Vachon, National Bank of Canada ($10.5 million), Richard Waugh, Bank of Nova Scotia ($9.6 million).
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