Average pay of Canadian CEOs rises to $14.9M in 2022: report

The report from the Canadian Centre for Policy Alternatives found the CEOs were paid on average of $14.9 million dollars in 2022, up from an average of $14.3 million in 2021. That’s $7,162 an hour. 

Before the second day of the new year is over, the average CEO would have already made the average worker’s annual salary.

Canada’s 100 highest-paid CEOs broke records with their compensation in 2022, earning 246 times more than the average Canadian worker, according to a report released today.

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In 2022, the average worker saw their pay increase three per cent, while the pay for CEO’s rose on average by 4.4 per cent. Meanwhile, prices went up 6.8 per cent. 

Troy Cochrane, from the Canadian Centre for Policy Alternatives says this is because CEOs receive bonuses added to their regular salaries, “so if the stock performs a certain way if profits perform a certain way.”

Almost half the people on the top 100 list are in Ontario.

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According to reports at the top of the list is executive chairman J-Patrick Doyle of Tim Hortons owner – restaurant brands international who made $151.8 million in 2022. 

The equivalent to 61 million large double doubles. The company also owns Burger King and Popeyes.

Other notable names on the list is Rogers CEO Tony Staffieri at $31.5 million, Stelco CEO Alan Kestenbaum at $11.5 million and Loblaw CEO Galen Weston at $11.8 million.