$7.5K per day

last SG · 2007-04-08T22:10:28+00:00

some correction on the sum on per day... 8hrs per day, 5 days week. 8X5=40hrs. 52 weeks a year... 52X40=2080hrs. it should be SGD $2.7M / 2080hrs = SGD $12...

Ibram Gaunt SG

From News:

While other countries may have leaders who are paid less, Mr Lee said rewarding Singapore leaders well is a system that has worked and is above board.

He said: "If you are going to quarrel about S$46 million up or down another S$10 to S$20 million I say you don't have a sense of proportion."

And when it comes to benchmarking, Mr Lee said his own annual income, which is S$2.7 million, is a fraction of what the top manager in the Government of Singapore Investment Corporation (GIC) earns.
---------------------------------------------

That means that LKY earns about S$7.5 K per day ........wah, that's a lot of moolah. I wonder what he does per day to justify that amount of money?

S$2.7 million per year.

S$2 700 000 / 12 = S$225 000 per month

S$225 000 / 30 = S$7 500 per day

soulwinner SG

Then ?Are you jealous?

Ibram Gaunt SG

No, I'm not jealous. I am concerned, as any good citizen of this country should.

Because it's public money. It should be made accountable to tax-payers like us.

S$7.5 K per day can hire 2 entry-level 1st class hons graduate into the workforce (assuming starting salary $3K plus) or 5 non-grads into workforce (assuming starting salary abt $1.5 k).

Ito_^ SG

im damm jealous sia! Laughing

Skibi SG

Originally posted by Ibram Gaunt:
No, I'm not jealous. I am concerned, as any good citizen of this country should.

Because it's public money. It should be made accountable to tax-payers like us.

S$7.5 K per day can hire 2 entry-level 1st class hons graduate into the workforce (assuming starting salary $3K plus) or 5 non-grads into workforce (assuming starting salary abt $1.5 k).

Not really. SGD7.5k/day x 30 days = SGD225k. That will be 225/3 = 75 Seventy-Five 1st class hons graduate per month.

Ibram Gaunt SG

If two 1st class hons grads can be hired per day (for $7.5K), this means that in a month: 60 grads (30 x 2) can be hired per month (or 75 grads...as Skibi has kindly corrected me).

If 5 non-grads can be hired per day, this means that 150 people (30 x 5) per month.

Are we doing the right thing by not spending that $7.5K in augmenting the civil service workforce by hiring younger talents and decreasing the unemployment rate, instead of retaining someone 20 years past his retirement age?

Thus the salary of $2.4 million must be made accountable to taxpayers.

Skibi SG

Originally posted by Ibram Gaunt:
If two 1st class hons grads can be hired per day (for $7.5K), this means that in a month: 60 grads (30 x 2) can be hired per month (or 75 grads...as Skibi has kindly corrected me).

If 5 non-grads can be hired per day, this means that 150 people (30 x 5) per month.

Are we doing the right thing by not spending that $7.5K in augmenting the civil service workforce by hiring younger talents and decreasing the unemployment rate? Thus the salary of $2.4 million must be made accountable to taxpayers.

I was taking SGD3k per month as a realistic starting pay for a 1st class hons grad in accounting NTU. Even then it is a little high...most settle for SGD2.5k. For lawyers, I have a friend in the public service who got 2.2k starting pay as a prosecutor even tho she has a masters degree. Perhaps a doctor can share what their starting pay is?

Slipshade SG

I'm envious! But he's still making alot lesser than people like John Terry, Shevencko (sp), Raul and Beckham. Mr. Green

darnitit SG

jealous jealous. how i wonder and hope my pay can be half of his man.. hahax..

Ibram Gaunt SG

(we should compare him with other political leaders.....not with pte sector employees)

He's definitely making alot more than the leader of the US, UK, China, Australia, Switzerland, etc, etc, etc.......(list goes on)...

Worse thing is that the lower ranking civil servants in S'pore are not actually making that much .....last I heard, a poly grad gets less than $1.8k in civil service.

Skibi SG

I think he is paid pension in addition to the 2.7mil concurrently? Not sure whether all this is tax free?

sir_boris SG

You obviously failed to comprehend how important it is a good leader is in any "organization". The whole org will survive prosperously, or suffer horribly just depend on that one leader.

One good leader cant simply be replaced by 1000 1st class hons just like that. In fact, we need only one.

You wanna cheap leader, please see what's happening in nearby countries. Or better still, just employ me. Laughing

Fingolfin_Noldor SG

He makes so much money, I wonder why doesn’t give some of that to charity. Thus far, most of the ministers’ money from suing people go to their alma mater or something.

WiNtEr'SkiLL SG

lets not probe so much… shall we

Joshua1975 SG

Shocked "i" am one local born Singapore citizen who is paying "them". Why lets not probe? end of the day, it is still only in the forumssssssss. the paper in SG will not write anything about it. not a single man living in SG has the guts to question "them"

but we have more kuku come in here try ways to stop topics like this from going on? it sure look bad from the outside.

try harder next time.

Twisted Evil

audiovideo SG

if you are good enough to run singapore well and bring it to what it is today from small village and have the trust of most singaporean.... you can ask for more than $2.7mil.... you will get it. don't just look at the $$ now, think of what are the contributions. What if that guy who named us "little red dot" was the one who run singapore for the past 30 years? maybe SG will be so poor and has no money to pay him $2.7mil a month.....2.7mil rupiah maybe.
think, think, think. Mr. Green

Joshua1975 SG

it is the "little red dot" the reasons (advantage) that not only him can do. with such an "area", "who" will face any big problem of controlling the people? get the law in order?

situation create hero. hero never create situation. (si shi zao yin xiong, yin xiong bu zao si shi). it just happened that he is at the right place at the right time. it is time to let go, let someone else who have better ideas, who the SG people are not afraid of and lead SG to the next level. (for sure his own breed is not up to the job)

just a simple question. why GLC are selling/offering bonds to the publics?
think think think... Twisted Evil

SnowFlag SG

can anyone tells me what is the difference between underhand corruption and over-the-board corruption? Cool

Joshua1975 SG

unseen and seen.
saw it but can do nothing.
Laughing

ichi87 SG

woohoo...
7.5k per day..
312.50 per hour

while he is sleeping for 8 hrs.. he is earning the basic pay of a 1st class hons grad...

money is the root of all evil... while saying he is not earning as much as the GIC company whoever.. did he ever think of the lower-income rank???

haiz~ again.. money is the root of all evil