How long will it take the country’s top 100 CEOs to make as much as the average Canadian does in a year? Whoops, it’s already happened. According to research by the Canadian Centre for Policy Alternatives, “Canada’s best paid 100 CEOs make the average Canadian wage by 10:33 am January 2.”
And that’s the average. If you’re unlucky enough to be a minimum-wage earner, your entire year’s income will have been pocketed by those 100 dudes (and maybe a few dudettes) by 1:04 pm on New Year’s Day. In a new site called GrowingGap.ca, the CCPA has underscored this inequality with a tool that calculates how long it will take any salary to reach the best-paid CEOs.
As report author Hugh Mackenzie says in a news release, “We have to ask ourselves, are those at the top of the income heap really worth so much? And are those at the bottom really worth so little?”