Check out Canadian Business Magazine’s current issue which has a feature on compensation for the Chief Executive Officers of 100 of Canada’s largest companies. The average amount paid to these individuals in 2009 was $5,268,000. A total of 15 companies paid their CEOs more than $10 million in 2009 and only seven individuals made less than $1 million. The CEO realm is still almost exclusively male with only three women on the CB list.
The 2009 issue of Canadian Demographics states that the Canada’s per capita income was $31,202 in the same year. So simple math says that it takes about 169 Canadians to make the same amount as the average CEO on the Canadian Business list. If everyone in Canada earned the CEO average, we could reduce the population of the whole country to around 202,000 (about the population of Saskatoon on the 2006 census) and still have the same total income. The total personal income of the country would be more than $179 trillion if everyone made the CEO average. If you could go to the bank and exchange this $179 trillion for over 1.2 billion tonnes of loonies and laid them end to end, they would circle the earth 118,000 times.