MYANMAR is busying with filtering who should they put in the list of serial amnesty. Analyst are tiring with how many political prisoner are included in the latest clemency. Likewise, Singapore has been busying for 7 months to review their million dollar earning ministers' salaries. It's hefty assignment for the 7 men plus 1 women committee. Eventually, the recommendation of month long research disclosed to public. PM wrote to chairman of salary review committee that the government is willing to agree with their encounter and will forward the message to parliament for final setting. What a good match between authorities and makeshift committee that is also assigned by authority?
We all knew that Singapore's political figures are getting world's highest salaries. The government have their own reasons for making this happen while the opposition always highlight this as a weak point. Some lowest income Singaporean also show their unhappiness on the always keep going up of live expenses. They seem not enough with government subsidies as they earn very little. The government may not cover all they needs as they want them to take some responsibility to ease their own difficulties. Let it be. This is the matter of republic's government and its people. Nothing to do with a foreign worker like me.
Where does it source that make Singapore's ministers millionaire? I read on a book of MM Lee with regard to this matter. He found that it'ld be difficult to attract talented people from going MNCs if there is not a good payment structure in the government office. He noticed that the successful professionals can make million dollar a month in their respective career. Also he understand that without highly rated talent in office, there would be slim chance to maintain the momentum of Singapore's economy. Perhaps, such thinking drive him find a formula that offer an attractive salaries to those who intend to join government service. However he didn't apply the formula during his day in PM office up to 1990. He drew his successor's attention regarding adjustment of public salaries by introducing his formula. Mr. Goh passed the formula to apply. The current formula must be same with MM Lee generated or discovered. How does it work?
It based on the median income of the top eight earners in six professions, including banking and law, with a one-third discount. The salary review committee has recommended the formula be changed to the median income of the top 1,000 Singaporean income earners, with a 40% discount. The committee also recommended a new national bonus to replace the GDP bonus that ministers currently receive. The proposed national bonus is to be decided based on four measures: GDP growth, unemployment rate, real growth in median incomes and real growth in the incomes of the bottom 20% of wage earners. Despite the steep cut in current salaries, republic's political leaders remain at the top of salary competition. Have a look at world's top political leader's salary by country as at 2010.
1. Lee Hsien Loong (Singapore) : $2,183,516
2. Donald Tsang (Hong Kong) : $513,245
3. Raila Odinga (Kenya) : $427,886
4. Barack Obama (United States) : $400,000
5. Nicolas Sarkozy (France) : $302,435
6. Stephen Harper (Canada) : $296,400
7. Mary McAleese (Ireland) : $287,900
8. Julia Gillard (Australia) : $286,752
9. Angela Merkel (Germany) : $283,608
10. Yoshihiko Noda (Japan) : $273,676
When it comes to what a leader is really paid, a distinction must be made between base salary and additional stipends. Leaders may receive free residences or residential stipends, free healthcare, free travel and other perks. They may be permitted expenses that most people would have to pay for out of pocket. Those figures are more difficult to come by, especially in the murky world of political influence. The hidden perks behind salaries might have been reason for why tiny city state's ministers are earning most against their counterparts from the world. Once MM Lee told that Singapore government let ministers decide themselves in spending their earning which is all inclusive. The government provide no other allowance like other political leaders enjoy with their relatively less salaries.
Our new civilian government should learn this competition as if they are to become clean government. Without enough salaries, it would be impossible for public officer to ban any incoming brides. In order to minimize the visible corruption, our new leaders must be wise in adjusting our public servant's wages. Otherwise, it'ld be mission impossible to make their pledge to become true. May our government leaders find a relevant formula with regard to salary of our public workers.
source: data from investopedia.com
We all knew that Singapore's political figures are getting world's highest salaries. The government have their own reasons for making this happen while the opposition always highlight this as a weak point. Some lowest income Singaporean also show their unhappiness on the always keep going up of live expenses. They seem not enough with government subsidies as they earn very little. The government may not cover all they needs as they want them to take some responsibility to ease their own difficulties. Let it be. This is the matter of republic's government and its people. Nothing to do with a foreign worker like me.
Where does it source that make Singapore's ministers millionaire? I read on a book of MM Lee with regard to this matter. He found that it'ld be difficult to attract talented people from going MNCs if there is not a good payment structure in the government office. He noticed that the successful professionals can make million dollar a month in their respective career. Also he understand that without highly rated talent in office, there would be slim chance to maintain the momentum of Singapore's economy. Perhaps, such thinking drive him find a formula that offer an attractive salaries to those who intend to join government service. However he didn't apply the formula during his day in PM office up to 1990. He drew his successor's attention regarding adjustment of public salaries by introducing his formula. Mr. Goh passed the formula to apply. The current formula must be same with MM Lee generated or discovered. How does it work?
It based on the median income of the top eight earners in six professions, including banking and law, with a one-third discount. The salary review committee has recommended the formula be changed to the median income of the top 1,000 Singaporean income earners, with a 40% discount. The committee also recommended a new national bonus to replace the GDP bonus that ministers currently receive. The proposed national bonus is to be decided based on four measures: GDP growth, unemployment rate, real growth in median incomes and real growth in the incomes of the bottom 20% of wage earners. Despite the steep cut in current salaries, republic's political leaders remain at the top of salary competition. Have a look at world's top political leader's salary by country as at 2010.
1. Lee Hsien Loong (Singapore) : $2,183,516
2. Donald Tsang (Hong Kong) : $513,245
3. Raila Odinga (Kenya) : $427,886
4. Barack Obama (United States) : $400,000
5. Nicolas Sarkozy (France) : $302,435
6. Stephen Harper (Canada) : $296,400
7. Mary McAleese (Ireland) : $287,900
8. Julia Gillard (Australia) : $286,752
9. Angela Merkel (Germany) : $283,608
10. Yoshihiko Noda (Japan) : $273,676
When it comes to what a leader is really paid, a distinction must be made between base salary and additional stipends. Leaders may receive free residences or residential stipends, free healthcare, free travel and other perks. They may be permitted expenses that most people would have to pay for out of pocket. Those figures are more difficult to come by, especially in the murky world of political influence. The hidden perks behind salaries might have been reason for why tiny city state's ministers are earning most against their counterparts from the world. Once MM Lee told that Singapore government let ministers decide themselves in spending their earning which is all inclusive. The government provide no other allowance like other political leaders enjoy with their relatively less salaries.
Our new civilian government should learn this competition as if they are to become clean government. Without enough salaries, it would be impossible for public officer to ban any incoming brides. In order to minimize the visible corruption, our new leaders must be wise in adjusting our public servant's wages. Otherwise, it'ld be mission impossible to make their pledge to become true. May our government leaders find a relevant formula with regard to salary of our public workers.
source: data from investopedia.com
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