A new report suggests the average Canadian employee will have to work full time for a year to earn what a top CEO makes before noon on January 2. The report from the Canadian Centre for Policy Alternatives shows that the 100 highest paid CEOs made an average of $10 million in 2017 while the average worker earned $50,759 for that year.
This is nothing new. A report by this non-partisan think tank reported similar results last year. It found CEO salaries in 2016 to be 193 times the average. In 2017, they were 197 times higher.
The report found female executives got substantially lower bonuses. (iStock)
Female executives earned less
A second 2017 report by the think tank found that among top executives, women make $0.68 for every dollar their male counterparts make. That amounts to almost one million dollars less pay in one year. The report says bonus pay is the “driving force” behind the gender pay gap for top executives as women get substantially lower bonuses.
It adds that typically, women do not make it to CFO and CEO positions.
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