Many talents or supposed talents who were invited for tea were
actually paid less than $50,000.00 pm like the senior officers in
EDB or HDB but once the tea was drunk their worth went up to
S$120,000.00 pm.
So based on MM Lee's theory and assumption that we the people have
to pay talents millions of salaries or else there will be no one to
form our government was obviously untrue and over-exaggerated as in
reality many ministers were paid much less before the tea
session.
Many good people would be too happy to serve even at less than
S$100,000.00 pm.
Morever many ministers were without private sector commercial
experiences and were not proven successful in turning around an
major company but nevertheless they were presented fallaciously as
high flyers in some way paid high-flyer salary within their own
narrow pen-pushing instruction-taking civil service no doubt.
But once artificially benchmarked to S$120,000.00 pm or S$1.5
million pa and moving among fellow ministers and comparing more
people they will think they were actually worth $120,000.00 pm (not
mentioning life pension after two elections).
Honestly is this kind of benchmarking real worth. How can a person
be worth less than S$60,000.00 pm when he has been benchmarked as
worth S$120,000.00 pm.
The fact is the previous pay of S$60,000.00 pm as a senior civil
servant might not even be market-tested as such civil service pay
may be unreally being artificially pushed up by artificial wage
restructuring up to 10-tier promotional structure to reward the few
blue-eyed boys without question by anyone of actual worth.
Will such ministers admit that once they are allowed to compete
freely in the free market their worth may fall very much below
S$120,000.00 pm or even their previous civil service pay
of$60,000.00 pm.
For each salary of S$5,000.00 pm a business or company will have to
generate a yearly revenue of $1,000,000.00 to pay for such a
salary.
At S$120,000.00 pm assuming a private sector firm is going to
employ an ex-minister to expand into new business etc such a firm
will have to generate an additional revenue of S$240,000,000.00
pa.
So which minister could possibly generate a new portfolio business
of up to S$240,000,000.00 pa unless of course the firm is thinking
of using such ex-minister to get connection and influence to get
contracts from the government.
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