Though my mini research on SG Ministerial salaries would fit well here, do PM me if U find my seal takes up too much space or risks this thread being deleted etc.
Stemming from the excerpt mentioning CEO pay rising from 26x - "Now the multiple is 300" I've decided to make a short back of envelope calculation to see how much the PAP's are foolhardy American greed might herald their downfall. The article 'Tharman aims to raise median wages of Singapore workers to $3,100 from the present $2,400' [link] is referenced for the SG Median salary figure, the calculations are listed below.
"PAP Finance Minister Tharman Shanmugaratnam aims to increase the wages of the average Singapore worker to $3,100 in ten years’ time from the present low level of $2,400."
- Calc [Annual Salary/ Citizen/ Median (2010)]= 2400 x 12= 28800 p.a..
- From [a/m 2006-08 gov salary], PM's 2008 salary= 3,760,000 p.a.
- Multiple PM's sal. is over Citizen's(median) sal.= 3.76m/28.8k= 130.56X
Not quite near the 300X that current US CEOs are paid but US is still a country containing prob. the highest paid CEOs in the world.
"In the last expansion, which started in Jan 2002 and ended in Dec 2007, the median US household income dropped by US$2,000 - the first-ever instance where most Americans were worse off at the end of a cycle than at the start. "
Do we want to get there and pay our revered PAP the 300X Median salary to tell us again that [CNA:03May2006]:'Singapore is at the top of its game because of a strong political system and quality leadership' and [TR3July2010]: “It’s a bit of a puzzle as to why despite a good education system, good schools system and one of the better rated university system in the world, we are not achieving as much with the workforce in terms of skills, expertise and therefore productivity – there is a gap”.
Well, to end, let me paraphrase borrowing the words of our Dear Minister Mentor [AFP22Jul2010]: ".. no amount of
Best wishes and have a nice day, and till we meet again, Majulah Singapura.
- [CNA:03May2006] 'Prime Minister Lee Hsien Loong says Singapore is at the top of its game because of a strong political system and quality leadership' [YouTube/@1m10s]
- [Reuters5Apr2007]: 'Singapore ministers set for million-dollar pay hike': "'If we don't do that ... corruption will set in and we will become like many other countries,' Defence Minister Teo Chee Hean was quoted as saying in the Straits Times last week." [link]
- [TR3July2010]: 'Tharman aims to raise median wages of Singapore workers to $3,100 from the present $2,400': “It’s a bit of a puzzle as to why despite a good education system, good schools system and one of the better rated university system in the world, we are not achieving as much with the workforce in terms of skills, expertise and therefore productivity – there is a gap,”: [link]
- [AFP22Jul2010]: 'Flood response not sufficient: Lee Kuan Yew': "Whatever we do when we get extraordinary rains like we had recently, no amount of engineering can prevent flooding... unless you want to lose half the roads and have canals." [link].
- [FT 30July2010; Edward Luce ]: 'The crisis of middle-class America' [link]
- [A1forum30July2010/ comments]: 'Rethinking formula for Singapore Ministerial Salaries' [link].
1Aug2010: Rethinking Singapore Ministerial Salaries