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January 15, 2011

Elite CEOs pocket average annual wage in hours

The Canadian Centre for Policy Alternatives kicked off 2011 with a new study that shows compensation for Canada's top CEOs appears to be recession-proof. Prepared by by CCPA Research Associate Hugh Mackenzie, according to the CCPA web site "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."

The report continues that at the identified rate of remuneration, this small handful of elite CEOs pocketed the equivalent of the average Canadian wage by 2:30 pm on January 3 - the first working day of the year. You can read the full report via the CCPA web site. See:
http://www.policyalternatives.ca/publications/reports/recession-proof

Posted by Taxes.ca Editorial Team [permalink]

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