Skip to main content
Welcome to
super saver spring
offer ends april 20
save over $140
Sale ends in
$0.99
per week for 24 weeks
Welcome to
super saver spring
$0.99
per week for 24 weeks
save over $140
// //

The 30 best-paid executives at Canada's big banks did just fine in 2014, hauling in a combined $190-million, after you factor in base salaries, cash bonuses, share-based awards and pension adjustments. That marks an increase of 16 per cent over 2013.

True, some asterisks are called for. Four of the six chief executives were newly promoted, and along with the corner office, each received a pay-bump — generally a big one. Then again, their compensation usually paled next to their longer-serving predecessors.

Do they deserve it? Canadian banks have outperformed the S&P/TSX Composite index over the past five years, after factoring in dividends. But this year may be a different story. In 2015, bank stocks have slumped 4.4 per cent, trailing the TSX by more than 7 percentage points.

Some overall impressions on compensation:

Royal Bank of Canada is the bank with the best pay, with a total of $43.9-million shared by the top five executives. At the bottom of the compensation list there is a tie between National Bank of Canada and Canadian Imperial Bank of Commerce, both at $26.5-million. Perhaps bank size explains the difference.

The bank with biggest change from 2013: RBC, up 35 per cent (though the increase shrinks to 15.7 per cent if you ignore its chief executive's pension value adjustment; neither number accounts for one executive who was new in 2014).

The bank with smallest change from 2013: Toronto-Dominion Bank, up just 4.3 per cent.

Here's a rundown of who made what, in order, from the best-paid executive.

Report an error Editorial code of conduct
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

If you do not see your comment posted immediately, it is being reviewed by the moderation team and may appear shortly, generally within an hour.

We aim to have all comments reviewed in a timely manner.

Comments that violate our community guidelines will not be posted.

UPDATED: Read our community guidelines here

Discussion loading ...

Latest Videos

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies