Anyone knows PM's salary?

last SG · 2004-09-27T00:56:23+00:00

for those who understands this line -> "gao xin yang lian, hou lu yang xian"

skyfoo SG

A few days ago, my CME teacher ask our class who knows how much does Lee Hsien Loong, our PM and Finance Minister, earns? Surprisely, no one knows. He doesn't know too. Then, he asked us anyone knows the reasons why LHL wanted to hold both the posts of PM and Finance Minister. Again, the class was silence. He then pointed out that it's because he does not want us(Singaporeans) to know how much we are earning.

So, does anyone knows our PM's salary. If not, Singapore Government practised transparency, right? So, why the PM's salary is not revealed?

hexter SG

hmm.. not sure.. anyone got idea??

huiz SG

u dun reveal ur salary to everyone, dun you? how to expect the PM to do the same?

paperduck SG

before PM Goh time, LKY salary is around 40k p/m. (from TIME Magazines)

few k higher than US President.

now dont know

Parka SG

With inflation, it should be higher now.

Goondu74 SG

wasn’t the ministers’ salaries published in the papers some time back(last year?) if i am not wrong abt 800-900k per annum, its so much higher than the rest of the world because they dun want them to be tempted into corruption. if u have enough,then won’t be so easily tempted. Also they want the ministers salaries to be pegged to CEOs of MNCs as running Singapore is so much more difficult than running a company. CEOs may draw 10-12 million a year so 800-900k not alot.

SnowFlag SG

I think google quite powerful. This is what i have found. An article a few years back.

http://www.sfdonline.org/Link%20Pages/Link%20Folders/Political%20Freedom/payraise.html

robertteh SG

If US President is to peg his pay to Bill Gate or other chief executives in US corporation, US president should be paid US100 million a year or more.

CEOs and others in the private sector are not apple-for-apple comparison with that of public sector. Reasons are many such as the following:-

(1) Corporate skills are much more wider-ranging in nature. Ministers placed in charge of corporations may flop in their jobs and cause corporations to lose monies or collapse.

(2) Many private sector's CEOs and bosses are entrepreneurs using their own funds (not tax payers' monies) to generate wealths or salaries for themselves. They can pay any amounts to themselves if they want to.

(3) Ministers and MPs have gone back to private sectors but could not actually justify their capability to earn the same salaries as paid while working as ministers.

(4) Stock brokers and property developers were subjected to economic downturns and their salaries and earnings have gone down by recent stock crashes. Did their ministers take this fact into account in working out comparisons with private sector's salaries.

(5) The only rationale for giving higher salaries to ministers and Singapore is to avoid corruptions. Is this working effectively ? What about the correspondingly pay increases across the board for the entire civil service. Such a policy of paying salaries to equate to private sector drove up Singapore costs affecting its economic competitiveness.

(6) Any business entity whose funds are contributions from members such as clubs, mcst and associations are easier to manage because funds or monies are of no problems as mentioned by senior civil servant Ngiam Tong Down after his retirement and taking up a new position as CEO of HDB Corp. Being easier and not worried about pay cheque, civil servants are not in the same categories as equivalent positions in the private sector. There is no rationale in assuming that civil servants or ministers are doing more difficult jobs. Rolling Eyes

Parka SG

Minister's job not as difficult as CEOs?

A bit hard to compare.

A CEO can only affect only so much of an economy.

Minister/s can affect the economy and the lives of people with their decisions.

robertteh SG

Ministers or civil servants manage funds from contibutions or taxes whereas private sector companies do not have those funds to benefit from.

Although ministers' tasks could affect the whole economy, the measurements of performance is not worked out so that in the event of non-performance, they will lose their salaries or jobs. So far, ministers do not answer for major mistakes like loss of jobs, accidents and serious and frequent breakdowns.

Private sector firms must generate profits otherwise CEOs will lose their jobs or their own monies straightaway. Laughing

Parka SG

Who cares about them losing their jobs?

What I care is how they come up with the different policies. For example, the recent CPF contributions from self employed issue.

robertteh SG

I am with you on this point - responsibility. But responsibility is only one of the factors that determine the pays. Degree of difficulties in performing the jobs is another factor. If there is no problem with funds, or direct accountability for results or performance, are the ministers' jobs that difficult? Laughing

oldbreadstinks SG

well judging by the way we keep seeing screw ups nowadays, their job doesn't seem that difficult right? i bet i can screw up as well as they can, and best of all , i don't need such a high pay Twisted Evil

one thing i find interesting, why is the teacher talking about such stuff in cme class?

LazerLordz SG

Because he feels the younger generation needs lessons and a real-life case studies on morals, or the lack of it?

the.raven SG

more than US president earns

Medicated Oil SG

I guess Singapore is the only country in the whole world to pay a bunch of people high pay for screw-up.

Responsibility - who have stand up and say that he is responsible ? (Nicholl Highway Collapse, Tampines Lamppost Collapse)

HDB Faulty window - They are able to pinpoint the individual flat that requires replacement. But, they dare not admit that they did not do their job in supervising their cheap sub-contractors.

HDB prices - Some one brought out the issue of over-priced flats since the cheapest sub-contractor is used. No one have replied yet.

COE increase - COE is a tool for controlling traffic flow. By increasing the number of COE, would the traffic situation improved ???

MRT suicide - The video camera is installed to tell the world that the MRT is not at fault, the person jump himself. But, it does not serve the purpose of saving the person.

Just one small question.

Singapore population have decreased due to low birth rate.

But, the number of minister have since increased.

Have any one questioned whether these people are doing work ????

Beside, dancing in Zouk and Crying in Greece ???

The Singapore Economy is improving as claimed by the minister by some figures.

If you want the truth, go ask the businessman, taxidriver and the graduates.

They will tell you the true picture.

robertteh SG

Paying high salaries to ministers means that we are going to get good ministers who can solve our present problems with lack of economic recovery by local and smaller businesses.

Here are some real problems that need to be tackled by all ministers to be worth their world's highest pays.

Business or economic policies or plans currently are not benefitting the local or small businesses. Many measures might have been introduced to help SMEs but as usual they don't help because of conditions and rules.

Tax-oriented budgets and policies do not help economic recovery of SMEs. What they want and need are real helps in reducing costs and increasing opportunities to tender for works and services. However, there is a general tendency to promote businesses based on size or track record. This means that new entrepreneurs cannot enter the market.

Pro-foreign investment and pro-foreign employment policies did not work during the Asian Financial Crisis and last two recessions in creating jobs or preventing downturns. Policies that are aimed at 100 % compliance with all regulations without discretionary or flexible open categories will continue to stifle growths.

What rationale is there for continuing with such pro-foreign policies. Appropriately planned in master business plan or strategy, to spin the economy with deregulations and more openning up of closed doors (to small timers and SMEs), all the local companies and small businesses will do well again and the whole population of 3.5 millions will be motivated to work the economy. Laughing

skyfoo SG

with 16 replies, nobody knows? then what the use of having the policy of transparency?

drawer SG

I rather those ministers to corrupt secretly than to take such a high pay as if they corrupt "openly"!And besides,how can u be sure that after getting such a high pay,they wont be corrupted anymore?Dont forget my friends,some men's greeds are no end!!!As for running Singapore is more difficult than running a company,than i think many leaders who are managing countries which are much more larger than this "Singapore island" should get more pay than our PM liao!!!

drawer SG

Nah,those politicians dont dare to reveal their pay 1 lar,but i have heard that our president n PM salary definitely higher than the U.S president,as for the 2 DPM,and the 2 "eat finish rice" SM and MM post,i dont know liao.And if u want to find out how much is exactly their salary,i think u have to employ CIA,FBI,or KGB to find out for u liao!Or sorry....KGB now i think no more liao,then find CIA n FBI liao.