Women need 235 years to earn a CEO’s salary

The average working woman would need 235 years to earn what one of the top 100 Canadian CEOs makes in one year, says the Canadian Centre for Policy Alternatives.

Top CEOs’ average pay was $7.96 million in 2012, while workers got $46,634 on average. Many women are worse off.

Women who are also first-generation Canadians would need 268 years to earn what a top CEO makes in a single year. Women from a visible minority would need 273 years while Aboriginal women would need 285 years.

Read: Only 12% of advisors are women

The CCPA notes that only 3% of the top 100 CEOs in Canada are women, even though women make up 47% of the workforce.

The policy group also challenges the notion put forward by senior executives that there aren’t more women in top posts because they lack qualifications. Two in five people working towards MBAs in Canada are women. Women with MBAs earn $8,167 less than their male counterparts in their first year after graduating.

Read more here.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.