By about noon on Jan. 2, the country’s top-paid executives had already accumulated as much wealth as the average working Canadian’s entire average annual salary.
A quick online search of the average salary yields data from Statistics Canada indicates the typical worker brings in approximately $51,000 annually.
Meanwhile, through a review of corporate filings of publicly traded companies, the Canadian Centre for Policy Alternatives calculates that the top executives in this country rake in roughly 200 times as much, about $10 million.
To be clear, nobody is arguing that executives should not be compensated more than the average employee who does not bear as many responsibilities and risks in the decision-making process involved in running a major enterprise.
However, whereas public attitudes seem to generally agree an executive should indeed be compensated more — opinions vary, but usually do not exceed much more than a 5:1 ratio — the reality of the situation is