福州桑拿网Canada’s top paid CEOs will earn the average

福州桑拿网By the time most Canadians settle back into their work-from-home offices on the first working day of the year, Canada’s top CEOs would have already made the average worker’s salary — $53,482 — according to new research from the Canadian Centre for Policy Alternatives (CCPA). The report said that the average top-paid CEO would have made that average income by 11:17 a.m.ET Monday, about an hour later than the previous year. It also found that in 2019, the average top Canadian CEO made 202 times more than the average worker in the same year, which was down from a record 227 times the previous year. 福州桑拿论坛Read more: Top CEOs have already made average Canadian’s salary in 2020: report “There’s a real golden cushion for a lot of these CEOs, who have seen years of outrageous pay, this will cushion them and their wealth in a sense, but for many of them they will actually see an increase in their pay because their stock has done fairly well during the pandemic,” said David Macdonald, the report’s author and senior economist for the CCPA. Story continues below advertisement According to Macdonald, most CEO pay is not in salary, but is handed out to them in bonuses and that because of this, it wouldn’t be possible yet to calculate how much they made in the most recent year. About 82 per cent of this year’s average top CEO income of $10.8 million is made up of bonuses, he added. 福州夜网While the research found the wage gap had narrowed slightly compared to the previous year, McDonald said that changes to executive pay structure would certainly have to be made, especially given the financial hardships caused by the spread of the novel coronavirus pandemic. Click to play video 'Canadian CEO’s taking pay cuts during COVID-19 crisis' 1:48 Canadian CEO’s taking pay cuts during COVID-19 crisis Canadian CEO’s taking pay cuts during COVID-19 crisis – Apr 17, 2020 Over a third of the top 100 CEOs of 2019 were found to have ran companies that applied for and received payroll support in 2020 through the federal government’s Canada Emergency Wage Subsidy (CEWS), while about half of that 100 was expected to either retain their compensation or see a raise during the pandemic due to the stock market boom. Story continues below advertisement “I still don’t think there’s any way we can avoid it, it’s not built into the rules as it is in other countries like the Netherlands or Spain where you can’t pay out shareholders and executive bonuses at the same time as you’re receiving their version of the wage subsidy,” Macdonald said. Read more: Canada’s top CEOs will make $50K before noon on Jan. 2: report “But we can put those rules into place, we haven’t so far, so I think it’s basically guaranteed we’re going to see massive executive bonuses going at the same time as the federal government paying the wages of the companies.” Macdonald’s research also found that there was roughly 15 per cent people working less among those who were making $17 an hour or less, while the workers with the “highest wages” fully recovered by July. Click to play video 'Pay equity gap still ‘significant’: Canada’s Women’s Foundation' 3:59 Pay equity gap still ‘significant’: Canada’s Women’s Foundation Pay equity gap still ‘significant’: Canada’s Women’s Foundation – Apr 2, 2019 According to a 2020 report from the Fraser Institute, CEO pay has increased in recent years due to an increasing demand in skills and competition in the industry. Story continues below advertisement “The best business leaders in the world, just like top professional athletes and entertainers, are in limited supply while also being in high demand globally, so the compensation they receive reflects that,” wrote Vincent Geloso, the report’s author, in a press release.

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