Canada’s 100 highest-paid CEOs earned $13.2 million on average in 2023 from salaries, bonuses and other compensation, according to the Canadian Centre for Policy Alternatives.

It was the third biggest year for CEO pay since the CCPA began tracking the data in 2007, but a decline after 2021 and 2022 broke records.

“It’s still well up from where it has stood historically,” said David Macdonald, report author and senior economist at the CCPA.