Top CEOs will have earned average workers' full annual pay by 2:30 p.m. today

Top CEOs will have earned average workers' full annual pay by 2:30 p.m. today

OTTAWA — Canada's best-paid chief executives earned 155 times the average income earner during the darkest days of the recession, the Canadian Centre for Policy Alternatives said in a report Monday.

Declaring that those 100 chief executives were "recession proof," the think tank said they earned an average of $6.6 million in 2009 compared with $42,988 for the average Canadian.

That means by 2:30 p.m. Monday, the first working day of the year, those CEOs will have earned the full year's wage of the average Canadian, said Hugh Mackenzie, the author's study and research associate for the centre.

The discrepancy is almost 50 per cent higher than just over a decade ago, in 1998, when CEOs took home an average pay 104 times higher than the average wage earner, the centre said.


http://www.vancouversun.com/business/CEOs+will+have+earned+average+workers+full+annual+today/4052268/story.html

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and this is Canada. I wonder how long it took for the CEOs here to beat the average workers' pay?

I highly doubt that it was earned.

and welcome to DU! :hi:

National health insurance. CEO's here earn 500 times their average workers. And of course they're not trying to colonize the middle east