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Dmitri Tkachenko

Back in the green: CEO pay jumps 13 per cent - The Globe and Mail - 0 views

www.theglobeandmail.com/...article2039083

CEO performance unit shares high salaries

shared by Dmitri Tkachenko on 30 May 11 - No Cached
  • Dmitri Tkachenko on 30 May 11
     
    "The economic downturn in 2008 and 2009 was a distant memory by 2010 for Canada's top chief executive officers, at least as far as their pay packages were concerned. A Globe and Mail review of executive pay last year shows CEOs at Canada's 100 largest companies saw their compensation jump 13 per cent last year, led higher by a 20-per-cent increase in annual cash bonuses. Base salaries climbed 4 per cent. Instead, many gains for CEOs came from better economic performance by companies, which boosted variable elements of pay like cash bonuses. They can also be worthless. If the company performs in the bottom quarter of the peer group, and earns a negative return over three years, none of the share units vest for the executives. "
John wang

Women expect less money than men when entering workforce, study suggests | Posted | Nat... - 0 views

news.nationalpost.com/...ering-workforce-study-suggests

women economic inequality

shared by John wang on 02 Jun 11 - No Cached
  • Women leaving university expect smaller paycheques and longer line-ups for promotions than their male counterparts, finds a new Canadian study that suggests the lower expectations are self-perpetuated.
  • women predict their salaries will be 14% lower than what men tend to forecast in their own professional lives
  • 18% less
  • ...4 more annotations...
  • earn only 68% of the salaries their equally qualified male peers earn
  • found the male students’ expectations are way too high. These results may indicate that women are just more realistic about their salary expectations
  • If these students are asking their mothers or older women for their experiences, they will be getting a reflection of the historical inequality
  • emphasize a balance between a career and a personal life and contributing to society,
Carolyne Wang

The rich really are getting richer - The Globe and Mail - 2 views

www.theglobeandmail.com/...article1819803

Income Inequality Cultural Attitudes Toward Income Historical Trends

shared by Carolyne Wang on 02 Jun 11 - No Cached
  • The top 0.01 per cent of Canadian income earners, the 2,400 people who earn at least $1.85-million, aren’t just basking in investment income and business profits. Nearly 75 per cent of their income comes from wages, just like the average Canadian, according to a new study from the Canadian Centre for Policy Alternatives. The top 1 per cent, the 246,000 Canadians who earn more than $169,000, receive about 67 per cent of their income in wages.
  • That’s a change from the 1940s, when the rich took 45 per cent of their income from wages, 25 per cent from business profits and the rest from investments, dividends and interest.
  • , the income share of the richest 1 per cent fell from 14 per cent to 7.7 per cent. That trend was reversed over the past 30 years, as the top 1 per cent regained its 14-per-cent share of Canadian income. Over that time, the richest 0.1 per cent almost tripled their income share and the richest 0.01 per cent increased their share fivefold.
  • ...10 more annotations...
  • Ms. Yalnizyan said the major trend she identifies is that the wealthiest Canadians are increasing their share of income at a historic pace. Looking back over the past 90 years, income is now concentrated in a way that hasn’t been seen since the 1920s, she said. In the past decade, almost a third of income growth has gone to the richest 1 per cent, she added.
  • The top 0.01 per cent of Canadian income earners, the 2,400 people who earn at least $1.85-million, aren’t just basking in investment income and business profits. Nearly 75 per cent of their income comes from wages, just like the average Canadian, according to a new study from the Canadian Centre for Policy Alternatives. The top 1 per cent, the 246,000 Canadians who earn more than $169,000, receive about 67 per cent of their income in wages.
    • Carolyne Wang
      Carolyne Wang on 02 Jun 11
       
      See the link for visuals of income distribution in Canada.
  • That’s a change from the 1940s, when the rich took 45 per cent of their income from wages, 25 per cent from business profits and the rest from investments, dividends and interest.
  • Looking back over the past 90 years, income is now concentrated in a way that hasn’t been seen since the 1920s, she said. In the past decade, almost a third of income growth has gone to the richest 1 per cent, she added.
  • The big picture shows that after the Second World War, Canadian society distributed income in an increasingly level fashion. From 1946 to 1977, she writes, the income share of the richest 1 per cent fell from 14 per cent to 7.7 per cent. That trend was reversed over the past 30 years, as the top 1 per cent regained its 14-per-cent share of Canadian income. Over that time, the richest 0.1 per cent almost tripled their income share and the richest 0.01 per cent increased their share fivefold.
  • Median incomes, meanwhile, have been stagnant
  • “You’ve always had these people who’ve got their fingers on something the rest of us don’t. But why are they suddenly worth many multiples of what they were back then?” Ms. Yalnizyan said.
  • The answer, she said, is not economics. It’s in our culture.
  • Economist Michael Veall, who teaches at McMaster University, said a few theories try to explain the income shift by focusing on changes in the labour market at the high end, particularly for managers. One view is that corporate governors have allowed CEO salaries to jump because they were climbing elsewhere. Another is that CEOs, known for being superb communicators, are more effective, and thus more valuable, in the digital age because e-mail and the mass media facilitate contact with employees and the public, Prof. Veall said.
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