Canada’s Top 100 highest-paid CEOs

The best-compensated CEOs now make an average of $9.2 million—and many get much more

 
Onex CEO Gerry Schwartz

Gerry Schwartz, CEO of Onex. (Fred Lum/Globe and Mail/CP)

UPDATE (January 4, 2016): The latest version of this ranking is available here!

Being top dog means making top dollar.

The top 100 highest-paid CEOs in Canada now make, on average, $9.2 million—more than 190 times the average Canadian income of $47,358. And with Onex CEO Gerry Schwartz taking the number-one spot on the list this year with a total pay package of $87.9 million, many of our CEOs are paid many times more than that.

This list is assembled each year by the Canadian Centre for Policy Alternatives, which does it to draw attention to the large and growing pay gap between CEOs and average employees.

We’ve written before about the dilemma of high CEO salaries, which is more complex than it might seem. The critique doesn’t only come from the left; there are plenty of hard-nosed investment firms that are agitating to clamp a lid on ever-growing CEO pay, arguing that it’s a poor use of shareholders’ money and distorts performance as CEOs start managing to their pay metrics instead of longer-term growth. And some companies are taking steps to at least measure the scope of pay inequality between the C-suite and the rank and file. For instance, RBC has begun to factor average employee pay into its CEO compensation strategy, although it’s still keeping the details under wraps.

Still, it’s clear that inflationary pressures are still at work. This year’s average take-home is up 16% over last year’s average of $7.9 million. First-place CEO Gerry Schwartz’s $87.9 million is tens of millions higher than last year’s first-place entrant, CP Rail CEO Hunter Harrison, who got $49 million (Harrison has dropped to No. 57 this year, at a below-average $7.2 million.

One thing that hasn’t changed is the payment mix, which still skews heavily toward “other”—non-salary payments such as cash bonuses, share and options awards, pension contributions and other compensation. You can see a more complete breakdown on the CCPA site.

Finally, note that the information in this ranking is not up-to-the-minute; it is compiled from information on fiscal 2013 so, for instance, BlackBerry CEO John Chen doesn’t even appear on this ranking, although his $88 million multiyear pay package would certainly place him near the top. And some of the CEOs on the list were new or retired during the course of the year, so their figures only reflect a partial count.

See your CEO on here? How does it compare to your last pay stub?

MORE ABOUT CEO SALARIES:


Canada’s Top 100 Highest-Paid CEOs:

* “Other Compensation” includes bonuses, shares, options, pension and any other payments. Full details at CCPA.


Rank Name Company Base Salary Other Compensation* Total
1 Gerald W. Schwartz Onex Corporation $1,339,611 $86,577,415 $87,917,026
2 Nadir Mohamed Rogers Communications Inc. $1,130,769 $25,639,204 $26,769,973
3 Michael M. Wilson Agrium Inc. $1,507,200 $22,311,540 $23,818,740
4 Donald J. Walker Magna International Inc. $334,903 $19,222,697 $19,557,600
5 Steven K. Hudson (partial year) Element Financial Corp $660,000 $18,205,028 $18,865,028
6 JR Shaw (Exec Chair) Shaw Communications, Inc. $1,500,000 $15,880,532 $17,380,532
7 Robert Dépatie (partial year) Quebecor Inc $1,200,000 $13,621,147 $14,821,147
8 Gordon M. Nixon Royal Bank of Canada $1,500,000 $12,538,877 $14,038,877
9 Doug Suttles Encana Corporation $562,830 $13,211,265 $13,774,095
10 Paul Colborne Surge Energy Inc - $13,675,941 $13,675,941
11 Steven W. Williams Suncor Energy Inc. $1,291,346 $11,710,384 $13,001,730
12 Bradley Nullmeyer (President) Element Financial Corp $548,000 $12,397,984 $12,945,984
13 Scott Saxberg Crescent Point Energy Corp. $508,800 $12,276,474 $12,785,274
14 Donald Guloien Manulife Financial Corporation $1,216,641 $11,546,908 $12,763,549
15 Bradley Shaw (CEO) Shaw Communications, Inc. $2,500,000 $9,926,854 $12,426,854
16 Mark Thierer Catamaran Corporation $1,030,470 $11,393,965 $12,424,435
17 W.P. Buckley ShawCor Ltd $900,000 $11,245,345 $12,145,345
18 Richard E. Waugh (partial year) The Bank of Nova Scotia $1,500,000 $9,705,612 $11,205,612
19 R. Jeffrey Orr Power Financial Corporation $4,134,000 $7,047,444 $11,181,444
20 George A. Cope BCE Inc. $1,400,000 $9,563,448 $10,963,448
21 Peter Marrone Yamana Gold, Inc. $1,521,598 $9,187,220 $10,708,818
22 Edmund Clark The Toronto-Dominion Bank $1,500,000 $8,936,884 $10,436,884
23 Charles A. Jeannes Goldcorp Inc. $1,500,880 $8,699,534 $10,200,414
24 Darren Entwistle TELUS Corporation $1,375,000 $8,752,702 $10,127,702
25 Gerald T. McCaughey Canadian Imperial Bank of Commerce $1,500,000 $8,516,000 $10,016,000
26 Donald R. Lindsay Teck Resources Limited $1,450,000 $8,439,974 $9,889,974
27 Geoffrey T. Martin CCL Industries Inc $864,483 $8,766,413 $9,630,896
28 Harold N. Kvisle Talisman Energy Inc. $1,299,996 $8,243,523 $9,543,519
29 William A. Downe Bank of Montreal $1,279,375 $8,213,050 $9,492,425
30 Sean Boyd Agnico Eagle Mines Limited $1,500,000 $7,896,170 $9,396,170
31 Steve W. Laut Canadian Natural Resources Limited $620,000 $8,628,828 $9,248,828
32 Brian C. Ferguson Cenovus Energy Inc. $1,337,500 $7,907,274 $9,244,774
33 Thorsten Heins BlackBerry Limited $999,973 $8,056,039 $9,056,012
34 J. Paul Rollinson Kinross Gold Corporation $1,162,617 $7,772,593 $8,935,210
35 Michael E. Roach CGI Group, Inc. $1,250,000 $7,567,520 $8,817,520
36 Russell Girling TransCanada Corp. $1,300,008 $7,400,001 $8,700,009
37 James C. Smith Thomson Reuters Corporation $1,597,229 $6,858,576 $8,455,805
38 Dean A. Connor Sun Life Financial Inc. $988,462 $7,414,650 $8,403,112
39 Craig H. Muhlhauser Celestica Inc $1,000,000 $7,328,723 $8,328,723
40 Claude Mongeau Canadian National Railway Company $1,055,648 $7,173,984 $8,229,632
41 Asim Ghosh Husky Energy Inc. $1,642,250 $6,550,239 $8,192,489
42 Jamie C. Sokalsky Barrick Gold Corporation $1,400,677 $6,572,028 $7,972,705
43 Miguel de la Campa (Exec. Co-Chair) Pacific Rubiales Energy Corp. $995,118 $6,959,680 $7,954,798
44 Alain Bouchard Alimentation Couche-Tard Inc. $1,312,500 $6,615,846 $7,928,346
45 Serafino Iacono (Exec. Co-Chair) Pacific Rubiales Energy Corp. $995,118 $6,925,436 $7,920,554
46 Ronald Pantin (CEO) Pacific Rubiales Energy Corp. $995,118 $6,918,861 $7,913,979
47 Jose Francisco Arata (President) Pacific Rubiales Energy Corp. $946,288 $6,939,563 $7,885,851
48 Paviter S. Binning George Weston Limited $1,000,000 $6,885,668 $7,885,668
49 Calin Rovinescu Air Canada $1,400,000 $6,417,369 $7,817,369
50 André Desmarais (Co-CEO) Power Corporation of Canada $1,100,000 $6,639,900 $7,739,900
51 Paul Desmarais, Jr. (Co-CEO) Power Corporation of Canada $1,100,000 $6,558,762 $7,658,762
52 Louis Vachon National Bank of Canada $1,000,009 $6,618,494 $7,618,503
53 Pierre Karl Péladeau (partial year) Quebecor Inc $1,083,333 $6,344,803 $7,428,136
54 Stephen G. Wetmore Canadian Tire Corp. Ltd. $1,250,000 $6,177,375 $7,427,375
55 Paul N. Wright Eldorado Gold Corp. $1,514,000 $5,904,600 $7,418,600
56 J. Michael Pearson Valeant Pharmaceuticals International, Inc. $1,803,323 $5,407,632 $7,210,955
57 E. Hunter Harrison Canadian Pacific Railway Limited $2,266,718 $4,939,646 $7,206,364
58 Brian Porter (partial year) The Bank of Nova Scotia $800,000 $6,250,000 $7,050,000
59 Paul A. Mahon Great-West Lifeco Inc. $800,077 $6,194,780 $6,994,857
60 Robert Sawyer RONA Inc $604,811 $6,007,445 $6,612,256
61 William J. Doyle Potash Corp. of Saskatchewan, Inc. $1,294,889 $5,270,722 $6,565,611
62 H. Stanley Marshall Fortis Inc. $1,200,000 $5,325,052 $6,525,052
63 Frank Hasenfratz (Chairman) Linamar Corp $424,580 $6,020,172 $6,444,752
64 John Floren Methanex Corporation $750,250 $5,528,457 $6,278,707
65 Pierre Beaudoin Bombardier Inc. $1,401,851 $4,786,429 $6,188,280
66 Linda Hasenfratz (CEO) Linamar Corp $576,660 $5,547,352 $6,124,012
67 Randy V.J. Smallwood Silver Wheaton Corp. $871,963 $5,158,727 $6,030,690
68 David L. French Bankers Petroleum Ltd $391,000 $5,478,630 $5,869,630
69 Nancy C. Southern Canadian Utilities and ATCO $1,000,000 $4,691,339 $5,691,339
70 J. Bruce Flatt Brookfield Asset Management Inc. $515,235 $5,169,718 $5,684,953
71 L. Scott Thomson Finning International Inc. $467,308 $5,174,014 $5,641,322
72 Robert G. Card SNC-Lavalin Group Inc. $934,622 $4,694,968 $5,629,590
73 Paul Reynolds Canaccord Genuity Group Inc $750,000 $4,850,243 $5,600,243
74 Jay S. Hennick FirstService Corp/Canada $1,692,974 $3,809,140 $5,502,114
75 Al Monaco Enbridge Inc. $1,030,000 $4,411,495 $5,441,495
76 Edward Sonshine Riocan Real Estate Investment Trust $1,200,000 $4,172,814 $5,372,814
77 Rich Kruger Imperial Oil Ltd. $590,905 $4,686,638 $5,277,543
78 Vincente Trius (President) Loblaw Companies Limited $1,000,000 $4,264,471 $5,264,471
79 M.H. McCain Maple Leaf Foods Inc $1,018,142 $4,221,593 $5,239,735
80 Mark Davis Chemtrade Logistics Income Fund $700,000 $4,532,591 $5,232,591
81 José Boisjoli BRP Inc/CA $925,000 $4,299,403 $5,224,403
82 Marcel R. Coutu Canadian Oil Sands Limited $880,000 $4,314,930 $5,194,930
83 Marigay McKee (President of Saks Fifth Ave.) Hudson’s Bay Co $171,667 $4,999,994 $5,171,661
84 Gerald S. Panneton (partial year) Detour Gold Corp $651,671 $4,431,869 $5,083,540
85 Glenn J. Chamandy Gildan Activewear Inc. $849,219 $4,141,835 $4,991,054
86 John M. Cassaday Corus Entertainment Inc $955,325 $3,981,292 $4,936,617
87 Alain Bédard TransForce Inc $1,050,000 $3,843,619 $4,893,619
88 Robert A. Gannicott (CEO) Dominion Diamond Corp $1,016,135 $3,803,292 $4,819,427
89 Christopher G. Huskilson Emera Incorporated $871,635 $3,894,545 $4,766,180
90 David Roberts Penn West Petroleum Ltd. $400,000 $4,350,199 $4,750,199
91 Galen G. Weston (Exec. Chair) Loblaw Companies Limited $1,000,000 $3,721,872 $4,721,872
92 Tim Gitzel Cameco Corporation $918,000 $3,802,325 $4,720,325
93 Charles Brindamour Intact Financial Corporation $849,808 $3,754,751 $4,604,559
94 Stephen A. MacPhail CI Financial Corp $750,000 $3,826,000 $4,576,000
95 David Demers Westport Innovations Inc $700,000 $3,801,100 $4,501,100
96 James Riddell Trilogy Energy Corp - $4,486,841 $4,486,841
97 David Fesyk Inter Pipeline Ltd. $650,000 $3,831,450 $4,481,450
98 Pierre J. Blouin Manitoba Telecom Services Inc $850,000 $3,425,750 $4,275,750
99 James L. Bowzer Baytex Energy Corp. $575,000 $3,660,300 $4,235,300
100 Thomas J. Simons Canadian Energy Services & Technology Co $400,000 $3,739,266 $4,139,266

* “Other Compensation” includes bonuses, shares, options, pension and any other payments. Full details at CCPA.

Source: The Canadian Centre for Policy Alternatives

5 comments on “Canada’s Top 100 highest-paid CEOs

  1. Totally ridiculous salaries!

  2. My superior instructed us to look for website pages that debate armer26p once i unintentionally uncovered your web site and endure ALIEN SPACESHIPS TO Attack EARTH IN NOVEMBER 2012!. I’m definitely impressed together with your spectacular publish!

    http://www.DcqMhTwx7bDcqMhTwx7b.com/DcqMhTwx7bDcqMhTwx7b