A new study finds Canada's top-paid CEOs saw their compensation climb at double the rate of the average Canadian between the depths of the recession and 2013.
The country's 100 highest remunerated chief executive officers pulled down an average of $9.2 million in 2013, about 25% more than the $7.35 million they amassed in 2008, said an analysis released Thursday by the Canadian Centre for Policy Alternatives.
By comparison, the average Canadian income in 2013 was $47,358, about 12% more than the 2008 level.
The last time compensation for the top 100 corporate chiefs reached such a height was 2007 — the year before the recession — when it peaked at an average of $10 million, said the report titled "Glory Days: CEO Pay in Canada Soaring to Pre-Recession Highs."
The think-tank's annual review of CEO pay comes amid much political debate over Canada's income gap and the economic health of the middle class. Federal politicians have already started sharpening their pitches on these issues ahead of October's national election.
The CEO calculations include salaries as well as earnings from bonuses, share grants and stock options.
