Canada Global (Web News) According to a new research, Canada’s highest-paid CEOs and other top executives broke records for pay in 2021, taking home an average of $14.3 million as increasing inflation started to take affect.
The Canadian Centre for Policy Alternatives (CCPA) research, which was issued on Monday, predicted an average that well exceeds the previous high of $11.8 million in 2018 and is over 31% greater than 2020.
Additionally, it is 243 times the typical worker’s yearly wage of $58,800 in 2021, which represented just a 3% rise from the previous year.
The best paid executives in Canada will have earned their entire salaries less than an hour into the first working day of the new year, the survey claims.
Executive pay declarations for 2021 were included in the study, with an emphasis on chief executive officers as well as presidents, founders, and retiring CEOs who nevertheless got sizable salary.
Chief operations and financial officers, among other top executives, were left out. Dollars of Canada were used to convert all amounts.
Philip Fayer, chair and CEO of the Montreal-based provider of payment solutions, Nuvei, came in first on the list with an astounding $140.7 million in 2021 earnings.
Joe Natale, the current CEO of Telus and the previous president and CEO of Rogers Communications, was paid more than $27.3 million, making him the fifth-highest-paid executive.
