A few days, in most cases
Lots of people are talking about a study put out this morning by the Canadian Centre for Policy Alternatives about how the average Canadian CEO will earn as much by lunchtime today as the average Canadian does in a year. Now, you may or may not find that to be a persuasive argument about the state of income inequality in Canada — as our own Chris MacDonald has pointed out, determining the fairness of CEO pay is more complicated than it seems. But it did include some interesting data that we can slice a little more finely.
In the table below you can see the 100 most highly-paid CEOs in Canada, their company, and their total compensation (the CCPA includes everything from bonuses to stock options to pensions; in most cases such non-salary pay makes up a large majority of their overall compensation). Instead of just knowing how long it takes the average CEO to make the same amount that the average Canadian makes ($46,634), the right-hand column shows exactly how many hours or days it will take that CEO to make that amount.
CP’s Hunter Harrison, for instance, the country’s highest-paid CEO, got there in just two hours this morning. (The CCPA study counts January 1 as a work day; I’m assuming these CEOs have enough seniority that they don’t have to come in on a statutory holiday, and started work this morning with the rest of us.) Al Monaco (#10) of Enbridge, however, won’t get there until he punches out at 5 p.m. this afternoon. Some won’t even get there this week; Loblaw CEO Galen Weston (#86) will have to wait until Monday afternoon’s coffee break, and Lino Saputo Jr. will be the last of the hundred to cross the line on Tuesday morning. (A few caveats here: the CCPA uses 2012 figures, and some of the CEOs named no longer hold their position with the company.)
| CEO |
Company |
Total
Compensation |
No. Hours to make
Canadian Avg. |
| E. Hunter Harrison |
Canadian Pacific Railway Ltd. |
$49,151,065 |
1.97 |
| James C. Smith |
Thomson Reuters Corp. |
$18,805,050 |
5.16 |
| John A. Manzoni |
Talisman Energy Inc. |
$18,670,958 |
5.20 |
| Paul N. Wright |
Eldorado Gold Corp. |
$18,661,940 |
5.20 |
| Donald J. Walker |
Magna International Inc. |
$16,851,051 |
5.76 |
| Mark Barrenechea |
OpenText Corp. |
$14,816,457 |
6.55 |
| Gordon M. Nixon |
Royal Bank of Canada |
$13,731,877 |
7.06 |
| Gerald W. Schwartz |
Onex Corp. |
$13,296,276 |
7.30 |
| Mark Thierer |
Catamaran Corp |
$12,892,389 |
7.52 |
| Al Monaco |
Enbridge Inc. |
$12,166,472 |
7.97 |
| One Work Day |
| Peter Marrone |
Yamana Gold Inc. |
$12,075,108 |
8.03 |
| Steven W. Williams |
Suncor Energy Inc. |
$11,883,935 |
8.16 |
| Jamie C. Sokalsky |
Barrick Gold Corp. |
$11,361,218 |
8.54 |
| Michael M. Wilson |
Agrium Inc. |
$11,163,061 |
8.69 |
| Richard E. Waugh |
The Bank of Nova Scotia |
$11,101,196 |
8.74 |
| George A. Cope |
BCE Inc. |
$11,092,836 |
8.74 |
| Darren Entwistle |
Telus Corp. |
$11,035,860 |
8.79 |
| William J. Doyle |
Potash Corp. of Saskatchewan Inc. |
$10,972,598 |
8.84 |
| Edmund Clark |
Toronto-Dominion Bank |
$10,884,239 |
8.91 |
| Brian C. Ferguson |
Cenovus Energy Inc. |
$10,878,678 |
8.92 |
| Donald Guloien |
Manulife Financial Corp. |
$10,445,702 |
9.29 |
| Donald R. Lindsay |
Teck Resources Ltd. |
$10,247,327 |
9.47 |
| Thorsten Heins |
Research in Motion Ltd. |
$10,154,199 |
9.55 |
| R. Jeffrey Orr |
Power Financial Corp. |
$10,077,501 |
9.63 |
| Gerald T. McCaughey |
Canadian Imperial Bank of Commerce |
$9,931,000 |
9.77 |
| William A. Downe |
Bank of Montreal |
$9,600,553 |
10.10 |
| Sean Boyd |
Agnico-Eagle Mines Ltd. |
$9,509,460 |
10.20 |
| Charles A. Jeannes |
Goldcorp Inc. |
$9,382,291 |
10.34 |
| J. R. Shaw |
Shaw Communications Inc. |
$8,856,592 |
10.95 |
| Gregory Lang |
Novagold Resources Inc. |
$8,708,164 |
11.14 |
| Russell Girling |
TransCanada Corp. |
$8,679,314 |
11.18 |
| Pierre Karl Péladeau |
Quebecor Inc. |
$8,282,487 |
11.71 |
| Nadir Mohamed |
Rogers Communications Inc. |
$8,208,990 |
11.82 |
| Patrick D. Daniel |
Enbridge Inc. |
$8,053,319 |
12.04 |
| Dean A. Connor |
Sun Life Financial Inc. |
$7,970,689 |
12.17 |
| Claude Mongeau |
Canadian National Railway Co. |
$7,959,505 |
12.19 |
| Asim Ghosh |
Husky Energy Inc. |
$7,856,639 |
12.35 |
| Louis Vachon |
National Bank of Canada |
$7,677,015 |
12.63 |
| Steve W. Laut |
Canadian Natural Resources Ltd. |
$7,464,632 |
12.99 |
| Frank Hasenfratz |
Linamar Corp. |
$7,293,030 |
13.30 |
| Peter Meredith |
Turquoise Hill Resources Ltd. |
$7,259,290 |
13.36 |
| Randall K. Eresman |
Encana Corp. |
$7,237,539 |
13.40 |
| Alain Bouchard |
Alimentation Couche-Tard Inc. |
$7,222,869 |
13.43 |
| Bradley Shaw |
Shaw Communications Inc. |
$7,182,427 |
13.51 |
| Linda Hasenfratz |
Linamar Corp. |
$7,019,163 |
13.82 |
| Bruce Aitken |
Methanex Corp. |
$7,001,755 |
13.85 |
| Stephen G. Wetmore |
Canadian Tire Corp. Ltd. |
$6,973,125 |
13.91 |
| Alain Bédard |
TransForce Inc. |
$6,915,994 |
14.03 |
| Robert Dutton |
RONA Inc. |
$6,872,330 |
14.11 |
| Harold N. Kvisle |
Talisman Energy Inc. |
$6,560,418 |
14.79 |
| Robert G. Card |
SNC-Lavalin Group Inc. |
$6,430,758 |
15.08 |
| John P. Dielwart |
ARC Resources Ltd. |
$6,164,802 |
15.73 |
| Paviter S. Binning |
George Weston Ltd. |
$6,162,402 |
15.74 |
| J. Michael Pearson |
Valeant Pharmaceuticals International Inc. |
$6,111,263 |
15.87 |
| Two Work Days |
| Bruce H. March |
Imperial Oil Ltd. |
$6,023,996 |
16.10 |
| Pierre Beaudoin |
Bombardier Inc. |
$5,978,526 |
16.22 |
| Domenic Pilla |
Shoppers Drug Mart Corp. |
$5,966,041 |
16.26 |
| H. Stanley Marshall |
Fortis Inc. |
$5,958,603 |
16.28 |
| J. Paul Rollinson |
Kinross Gold Corp. |
$5,953,410 |
16.29 |
| André Desmarais |
Power Corp. of Canada |
$5,770,276 |
16.81 |
| Edward Sonshine |
Riocan REIT |
$5,739,804 |
16.90 |
| Craig H. Muhlhauser |
Celestica Inc. |
$5,732,435 |
16.92 |
| Paul Desmarais, Jr. |
Power Corp. of Canada |
$5,676,484 |
17.09 |
| Dawn L. Farrell |
TransAlta Corp. |
$5,658,940 |
17.14 |
| Michael Roach |
CGI Group Inc. |
$5,637,421 |
17.21 |
| Scott Saxberg |
Crescent Point Energy Corp. |
$5,584,466 |
17.37 |
| James H.T. Riddell |
Trilogy Energy Corp. |
$5,382,310 |
18.02 |
| William P. Buckley |
ShawCor Ltd. |
$5,192,076 |
18.68 |
| Edward S. Kennedy |
The North West Company Inc. |
$5,151,764 |
18.83 |
| J. Bruce Flatt |
Brookfield Asset Management Inc. |
$5,016,504 |
19.34 |
| Vincente Trius |
Loblaw Companies Ltd. |
$5,001,442 |
19.39 |
| Ronald Pantin |
Pacific Rubiales Energy Corp. |
$4,935,078 |
19.65 |
| Serafino Iacono |
Pacific Rubiales Energy Corp. |
$4,935,078 |
19.65 |
| Miguel de la Campa |
Pacific Rubiales Energy Corp. |
$4,935,078 |
19.65 |
| Jose Francisco Arata |
Pacific Rubiales Energy Corp. |
$4,877,331 |
19.89 |
| Michael T. Waites |
Finning International Inc. |
$4,853,792 |
19.98 |
| Edward S. Sampson |
Niko Resources Ltd. |
$4,820,511 |
20.12 |
| Tim Gitzel |
Cameco Corp. |
$4,772,534 |
20.32 |
| John M. Cassaday |
Corus Entertainment Inc. |
$4,741,232 |
20.46 |
| Ian Greenberg |
Astral Media Inc. |
$4,649,600 |
20.86 |
| Charles Brindamour |
Intact Financial Corp. |
$4,623,509 |
20.98 |
| David Fesyk |
Inter Pipeline Fund |
$4,603,078 |
21.07 |
| Ned Goodman |
Dundee Corp. |
$4,514,966 |
21.48 |
| Pierre J. Blouin |
Manitoba Telecom. Services |
$4,513,541 |
21.49 |
| D. Allen Loney |
Great-West Lifeco Inc. |
$4,485,386 |
21.63 |
| Galen G. Weston |
Loblaw Companies Ltd. |
$4,476,933 |
21.67 |
| James Riddell |
Paramount Resources |
$4,380,225 |
22.14 |
| Nancy C. Southern |
ATCO Ltd. |
$4,339,241 |
22.35 |
| Rupert Duchesne |
Aimia Inc. |
$4,309,122 |
22.51 |
| Robert A. Gannicott |
Dominion Diamond Corp. |
$4,307,570 |
22.52 |
| Michael J. Cooper |
Dundee Realty Corp |
$4,164,496 |
23.29 |
| Joseph D. Quarin |
Progressive Waste Solutions Ltd. |
$4,056,181 |
23.91 |
| Three Work Days |
| Benoit La Salle |
Semafo Inc. |
$3,998,223 |
24.26 |
| Randy V.J. Smallwood |
Silver Wheaton Corp. |
$3,994,638 |
24.28 |
| Ellis Jacob |
Cineplex Inc. |
$3,942,389 |
24.60 |
| Paul D. House |
Tim Hortons Inc. |
$3,921,073 |
24.74 |
| Kevin A. Neveu |
Precision Drilling Corp. |
$3,896,225 |
24.90 |
| Marcel R. Coutu |
Canadian Oil Sands Ltd. |
$3,884,155 |
24.97 |
| Gerald S. Panneton |
Detour Gold Corp. |
$3,859,521 |
25.13 |
| Lino A. Saputo Jr. |
Saputo Inc. |
$3,850,000 |
25.19 |
Source: Canadian Centre for Policy Alternatives
Lists & Rankings
How long it takes Canadian CEOs to make as much as most of us do in a year
A few days, in most cases
By Graham F. Scott
Lots of people are talking about a study put out this morning by the Canadian Centre for Policy Alternatives about how the average Canadian CEO will earn as much by lunchtime today as the average Canadian does in a year. Now, you may or may not find that to be a persuasive argument about the state of income inequality in Canada — as our own Chris MacDonald has pointed out, determining the fairness of CEO pay is more complicated than it seems. But it did include some interesting data that we can slice a little more finely.
In the table below you can see the 100 most highly-paid CEOs in Canada, their company, and their total compensation (the CCPA includes everything from bonuses to stock options to pensions; in most cases such non-salary pay makes up a large majority of their overall compensation). Instead of just knowing how long it takes the average CEO to make the same amount that the average Canadian makes ($46,634), the right-hand column shows exactly how many hours or days it will take that CEO to make that amount.
CP’s Hunter Harrison, for instance, the country’s highest-paid CEO, got there in just two hours this morning. (The CCPA study counts January 1 as a work day; I’m assuming these CEOs have enough seniority that they don’t have to come in on a statutory holiday, and started work this morning with the rest of us.) Al Monaco (#10) of Enbridge, however, won’t get there until he punches out at 5 p.m. this afternoon. Some won’t even get there this week; Loblaw CEO Galen Weston (#86) will have to wait until Monday afternoon’s coffee break, and Lino Saputo Jr. will be the last of the hundred to cross the line on Tuesday morning. (A few caveats here: the CCPA uses 2012 figures, and some of the CEOs named no longer hold their position with the company.)
Compensation
Canadian Avg.
Source: Canadian Centre for Policy Alternatives