By the time the average Canadian grudgingly drags his or her still-hungover body into work Tuesday, swaps holiday tales with the stiff in the next cubicle, and hunkers down to work, the country's highest-paid CEOs will have already earned the worker's annual salary.
Minimum-wage workers would have barely rolled out of bed on New Year's Day by the time the country's top earners pocketed the $15,931 that will likely take the low-paid workers all of 2007 to make.
A study released Tuesday by the Canadian Centre for Policy Alternatives says the
100 highest-paid private-sector executives will have earned an average
Canadian's salary of $38,010 by 9:46 a.m. Tuesday. More
Runaway growth of executive pay, pension schemes and severance payments is a disgrace. Egregious compensation is not linked to performance; huge rewards without results are common, even in our publicly owned companies. A top executive can rob the company blind and leave with a severance package that most of us can only imagine earning through a lifetime of hard work.
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