Top CEOs earned average of $8.96M in 2014: study

TORONTO -- Canada's highest-paid CEOs saw their compensation dip two per cent from 2013 to 2014, but they still raked in an average of $8.96 million each, according to a new study.

See Full Article

The think tank that conducted the research, the Canadian Centre for Policy Alternatives, says that's 184 times more than the average wage in Canada.

In 2014, the average wage for a full-time worker was $48,636 in 2014, according to the left-leaning research group.

Between 2008 and 2013, the country's 100 top-paid CEOs saw their compensation climb about 25 per cent to $9.2 million -- roughly twice as fast as the average wage for Canadians.

In order to calculate total compensation, the Canadian Centre for Policy Alternatives includes salaries, bonuses, share grants and stock options.

Hugh Mackenzie, a research associate at the centre, says it's not known whether the slight dip in 2014 is a sign of any sort of lasting change.

"It's not clear from the data at this point, because we've only seen one year, whether this is indicative of a slight downward trend or whether this is just a blip," said Mackenzie.

"My gut instinct tells me that it's a blip," he says, adding that a change in how stock options are being valued, given the slide in commodity prices that began in 2014, may be responsible for the decline.

The highest paid CEO, according to the study, was BlackBerry's John Chen, who took home $89.7 million in total compensation.

Donald Walker of Magna International Inc. was the next highest paid, pocketing $23.4 million. Gerald Schwartz of the private equity company Onex Corp., who was the top paid CEO the previous year, earned total compensation of $21.1 million.

Peter Blake, the former CEO of Ritchie Bros. Auctioneers, was the lowest paid CEO on the list, earning $4.3 million in total compensation.

Only two women made the list -- Linda Hasenfratz of Linamar Corp., who was compensated a total of $10.1 million, and Dawn Farrell of TransAlta Corp., who raked in $4.5 million.



Advertisements

Latest Economic News

  • Pipeline protesters to hold news conference after eviction notice

    Economic CTV News
    BURNABY, B.C. -- Protesters at an anti-pipeline camp in Burnaby, B.C., are set to hold a news conference to relay their side of the story this morning, instead of complying with an eviction notice handed down by the city. Source
  • Pipeline protesters defy city-issued eviction order, say they'll meet with officials

    Economic CTV News
    BURNABY, B.C. -- Protesters at an anti-pipeline camp in Burnaby, B.C., say they will meet with officials to discuss safety measures, but will not comply with a city-issued eviction order. The City of Burnaby says there are safety concerns surrounding "Camp Cloud," including a two-storey watch house and a fire that the protesters describe as sacred and ceremonial. Source
  • Edmonton man charged following investigation into alleged $5.5M Ponzi scheme

    Economic CTV News
    EDMONTON -- Police say a 59-year-old Edmonton man is facing charges after allegedly orchestrating a Ponzi scheme valued at $5.5 million. Investigators with the Edmonton police say the man used the company name "Wakina Consulting Inc. Source
  • Aeroplan wants to be your rewards program and travel agent. Will it work?

    Economic CBC News
    Aeroplan wants to be more than your rewards program; it also aims to serve as your travel agent. The program announced its ambitious plans this week, which include offering charter flights to sun destinations, opportunities to book travel with cash while earning points, and the ability to transfer miles to other loyalty programs. Source
  • Higher crude prices and weaker loonie could offer provinces royalty windfall

    Economic CBC News
    Resurgent oil prices this year could deliver three provinces unexpected windfalls — and maybe improved political fortunes — if crude stays strong. Sagging prices have weighed heavily on resource-based economies in recent years, putting the squeeze on provincial budgets that rely on petroleum revenues. Source
  • Aeroplan announces big plans for its revamped program but members still skeptical

    Economic CBC News
    Aeroplan wants to be more than your rewards program; it also aims to serve as your travel agent. The program announced its ambitious plans this week, which include offering charter flights to sun destinations, opportunities to book travel with cash while earning points, and the ability to transfer miles to other loyalty programs. Source
  • Canadian agriculture ministers briefed on trade-war contingency plan

    Economic CTV News
    VANCOUVER -- Federal Agriculture Minister Lawrence MacAulay emphasized the importance of the provinces working together as an escalating trade war with the United States puts some farmers on edge. The minister said his provincial and territorial counterparts discussed trade negotiations and the contingency plan during their conference that wrapped up Friday in Vancouver. Source
  • Teamsters members at CP Rail ratify new contract

    Economic CBC News
    Unionized conductors and locomotive engineers at Canadian Pacific Railway Ltd. have voted in favour of a new four-year collective agreement. Members of the Teamsters Canada Rail Conference (TCRC), which represents about 3,000 workers at CP, voted 64.7 per cent to ratify the new contract. Source
  • Pipeline protesters say they're willing to defy eviction notice

    Economic CTV News
    BURNABY, B.C. - Protesters at an anti-pipeline camp in Burnaby, B.C., say they are ready to defy an eviction notice handed out from the city. The City of Burnaby issued a 72-hour notice to those occupying "Camp Cloud" on Wednesday, but protesters say in a news release that isn't enough time to comply with concerns raised over safety. Source
  • Japan resumes Canadian wheat imports after suspension

    Economic CBC News
    Ottawa says Japan has ended its temporary suspension of Canadian wheat imports. Japan had halted shipments after some unauthorized genetically modified wheat was found in southern Alberta. Ottawa says the decision marks an end to all international trade actions arising from the discovery on June 14. Source