TORONTO – Ontario’s cabinet minister in charge of post-secondary education is telling colleges to go back to the drawing board on executive pay raises, after some proposed hikes of 50 per cent.
A public-sector wage freeze is expiring, and colleges are posting their executive compensation proposals under new rules that came into force in September.
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Legislation the Liberal government introduced – after it had been under fire for years over generous salaries and severance packages for executives in the public sector – created new compensation frameworks.
Advanced Education Minister Deb Matthews sent colleges a memo today, telling them to adjust their compensation plans – in particular, to make sure they compare salaries to those at other colleges or organizations of a similar size.
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Some have been using universities and hospitals as comparators.
Matthews says in fairness to the colleges, the amounts posted were the maximums of a salary range, so she is asking them to be more transparent as to what compensation would actually be.
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