The Globe and Mail reports in its Tuesday edition that the Canadian Centre for Policy Alternatives' annual report said the average pay of a top-100 chief executive officer in 2019 was $10.8-million, down from a record high of $11.8-million in 2018.
A Canadian Press dispatch to The Globe said that the report noted that the average individual income in Canada for 2019 was $53,482, up from $52,061 in 2018.
According to the report, that means by 11:17 a.m. on the first workday of the year, the average top-100 CEO made as much money as the average Canadian worker would make all year.
"At the very top of the income spectrum, Canada's highest-paid CEOs and other corporate executives have been sitting out the pandemic atop a golden cushion," the report said.
Meanwhile, the bottom quarter of workers making less than $16 an hour have not fully recovered from job or hours lost in April and May.
Jose Cil, CEO of Restaurant Brands International, was top earner in 2019, receiving nearly $27.5-million in compensation with about $1-million in salary.
He was followed by former Magna CEO Donald Walker at $24.2-million, Barrick Gold CEO Mark Bristow at $23-million and Bausch Health Companies CEO Joseph Papa at $22.7-million.
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