Top CEOs need just 12 hours to earn average Canadian annual salary - Canadian Press

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Top CEOs need just 12 hours to earn average Canadian annual salary
http://www.google.com/hostednews/canadianpress/article/ALeqM5hAKjPrdL5YZL7lh33MOIYt8dR1qQ
20 hours ago

TORONTO — As many Canadians nurse their post-New Year's Eve hangovers and ponder what further economic storms await, Canada's top corporate executives can take some comfort in knowing they have already earned as much as the average worker will earn in all of 2009.

A new analysis by the left-leaning Canadian Centre for Policy Alternatives concludes the country's richest corporate executives will have pocketed an average of $40,237 by 9:04 a.m. Friday morning.

"By the time your computer has finished booting up on your first day back after the New Year's holiday, the average CEO would have already banked what took the average Canadian worker an entire year's worth of work to earn," the report states.

"Many of the top 100 include Canada's big bank CEOs, who recently received billions in federal government bailout money to purchase mortgage loans."


The Financial Post has this article:
http://www.financialpost.com/story.html?id=1134977

Top paid CEOs enjoyed pay hikes: report

Alia McMullen, Financial Post Published: Friday, January 02, 2009

Canadian chief executives received a whopping average pay rise of 22% in 2007 as the economy thundered along, a report has found. But with the economy sinking into recession, the country's CEOs are not expected to see a repeat of such gains in 2008.AFP/Getty ImagesCanadian chief executives received a whopping average pay rise of 22% in 2007 as the economy thundered along, a report has found. But with the economy sinking into recession, the country's CEOs are ...

Canadian chief executives received a whopping average pay rise of 22% in 2007 as the economy thundered along, a report has found. But with the economy sinking into recession, the country's CEOs are not expected to see a repeat of such gains in 2008.

A survey of Canada's 100 highest paid CEOs by the Canadian Centre for Policy Alternatives found the total earnings of those 100 workers reached $1-billion for the first time in 2007.

The report showed the top paid CEOs from publicly traded corporations received an average pay packet of more than $10.4-million in the year, up 22% from $8.5-million in 2006.

"At that rate of pay, Canada's richest CEOs pocket the average Canadian wage of $40,237 by 9:04 a.m. January 2nd – before most Canadians have booted up their computer for another year of work," said Hugh Mackenzie, a research associate at CCPA.