Canadian CEO pay: recession-proof, CCPA finds

Press Release

Posted: Jan 3rd, 2011

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A new study by the Canadian Centre for Policy Alternatives (CCPA) Research Associate Hugh Mackenzie shows Canada's best paid 100 CEOs appear to be recession-proof. The study looks at 2009 compensation levels for Canada’s best paid 100 CEOs and finds they pocketed an average of $6.6 million during the darkest period of the recession – a stark contrast from the total average Canadian income of $42,988.

At this rate of reward, this handful of elite CEOs pocket the equivalent of the average Canadian wage by 2:30 pm on January 3 – the first working day of the year. Read the report here.

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In the United States, the

Steve Thompson January 3rd 2011 | 11:11 AM

In the United States, the disparity between the salaries of CEOs and their employees is even worse. American CEOs on average took home 263 times the salary of their average worker. To add insult to injury, CEOs that punted more of their workers took home 42 percent more than their counterparts who laid off fewer workers. Here is an article showing the massive chasm that is growing between the haves and have-nots of the corporate world:

http://viableopposition.blogspot.com/2010/09/ceos-more-you-cut-more-you-get-paid.html