Just read an interesting article and wanted to share this with you guys. Did you know that the top 100 highest paid CEOs in Canada make on average $9.2 million? That is more than 190 times average Canadian income of $47,000. Onex CEO Gerry Schwartz tops the listing with a total pay package of $88 million which means he makes 1872 times more money than typical Canadians.
The listing is compiled by Canadian Centre for Policy Alternatives that tries to draw attention to the unfair compensation gap between the top dog CEOs and the average employees like us. Click the link to see the full report. https://www.policyalternatives.ca/ceo2015. Did you find your CEO here? How does it com
pare to your last pay stub?
It is obvious that shareholders like us get limited control over top executives’ compensation. Board of directors who are completely dependent on CEOs to run companies will have to pay top dollars because they worry that if they pay less than the norm of extremely imbalanced compensation they won’t be able to attract the best talents.
As a shareholder of some companies through stocks and ETFs, I am confused. A lot of the companies that are listed from the report are listed in Toronto Stock Exchange and are blue chip solid dividend paying companies. Hm… is paying that enormous salary extremely necessary in managing those already solid companies? Suddenly, I remember Warren Buffet saying that he buys companies that can be managed by a ham sandwich. I wonder the taste of $88 million ham sandwich. Must be delicious!
Interesting post and it is ridiculous and bothers me so much that greedy CEOs get paid that much. I work in one of the big 5 banks and they make 272 times more money than I do.
I totally agree with you. It is just way too much!
Crazy!! US could be worse than Canada though.
Yeah it is crazy and I strongly believe that there should be some sort of government intervention and restriction to make it fairer.
I cannot believe it!!! Greedy pigs!
Haha. Thanks for dropping by.
sad but true. what can we do?
Hi KingsofS. I don’t know and even if I do know a way it will be extremely challenging to change it. All I can do is to share the information to let the whole world to know.
Thanks for coming.
My CEO isn’t on that list. I guess he’s not getting paid enough lol. 😀
Haha Mine isn’t on the list either. Considering a lot of the companies from the list employ +-30,000 people, unfortunately, a lot of the people’s CEOs are on the list.
Ridiculous. How much money do they possibly need?
Hahaha. Well asked!