New report outlines how Canada’s top CEOs raked in “boundless bonuses” in 2020
The report recommends five policy solutions to tackle extreme wealth inequality. —
No 2810 by fw, January 10, 2021 —
“Every year we [Canadian Centre for Policy Alternatives] examine trends in CEO compensation in Canada. General trends show that compensation for the highest-paid CEOs in Canada is impervious to external shocks, such as the 2020 COVID-19 pandemic. In fact, the highest-paid 100 CEOs in Canada had the second-highest average compensation levels in this country’s history during the pandemic. Canada’s 100 highest-paid CEOs got paid an average of $10.9 million in 2020, which is higher than their pay in 2019. As a result, those 100 CEOs now make, on average, 191 times more than the average worker wage in Canada. Before lunch hour on the first working day of 2022, January 4, Canada’s highest-paid CEOs will have already racked up the same amount of pay that will take the average worker the entire year to accrue.” —David Macdonald
David Macdonald is a senior economist with Canadian Centre for Policy Alternatives’ National Office, and the author of CCPA’s new report titled: Another year in paradise: CEO pay in 2020.
Hands up those who believe that Trudeau’s neoliberal Liberals, friends of Big Business and The Ruling Class, will, without delay, propose policy actions to tackle extreme wealth inequality in Canada.
Here is the Table of Contents of the 25-page report.
Page Topic
4 Executive summary
6 Introduction
9 A third of CEO millionaires benefited from public subsidies
11 Boosting bonuses through formula changes
13 Top CEO pay
15 CEOs and the glass ceiling
16 Recommendations
18 Methodology
23 Notes
My repost, presented below in two short pieces, begins with a copy of a brief January 4, 2022 news release titled: Canadian CEO pay hits second-highest level in history: report, followed by a two-page Executive Summary, excerpted from the full 25-page report.
To read the complete, original versions of both documents, just lick on their linked titles below.
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…click on the above link to read the rest of the article…
