By the time most Canadians roll up their sleeves to begin a new year of work, Canada’s best paid 100 CEOs will already be having a good year.

According to a new report on CEO pay by the Canadian Centre for Policy Alternatives (CCPA), a top Canadian CEO will earn as much in one day as an average Canadian worker will make all year.

The best paid CEOS will pocket the national average wage of $38,998 by 10:33 am January 2nd.

And they will continue to earn the average Canadian wage every nine hours and 33 minutes for the rest of the year.

“Most Canadians are heading back into work with a mound of Christmas bills and financial worries but for Canada’s best paid 100 CEOs it’s like Santa Claus delivers every nine hours,” says the report’s author, CCPA Research Associate Hugh Mackenzie.

“That’s what happens when you make an average of $8,528,304 — which is the average of what Canada’s 100 best paid CEOs made in 2006.”

On average, the best-paid 100 CEOs make more than 218 times as much as a Canadian working full-time for a full year at the average of weekly employment earnings.

The CEO report is available at www.growinggap.ca.