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You guys have misunderstand MIW. Basic Minister without 13th month is only 715k Only. With
7month bonus, the pay is $1.1Million !!!!
SINGAPORE: The committee to review ministerial salaries has clarified that the recommended S$1.1 million annual salary for entry-level ministers includes basic pay and bonuses amounting to seven months.
In its blog post, the committee said it assumes a one-month annual variable component, a three-month performance bonus and a three-month National Bonus.
Without bonuses, the basic pay is 13 months, totaling S$715,000.
It made this and several other clarifications in a post on its official blog on January 11.
It said several aspects of its report have been misunderstood or not clearly understood.
The committee also explained why its proposed wage benchmark links ministerial pay to the salaries of 1,000 top Singaporean earners.
It said this was to reflect 'the level of talent it hopes to attract and the need to pay competitive salaries to minimise the opportunity cost for these people to come forward to serve.
The committee also explained why it had not chosen to peg salaries to foreign leaders' pay instead.
Although it said this was studied in detail, it wasn't adopted 'as the conditions in other countries are different and so are the compensation principles'.
Doing so would not allow the committee to 'follow the principles of paying competitive salaries and clean wages'.
Prime Minister Lee Hsien Loong has said that the Government intends to accept the committee's recommendations, which will be debated in Parliament on January 16.[/SIZE][/SIZE][/SIZE]
7month bonus, the pay is $1.1Million !!!!
SINGAPORE: The committee to review ministerial salaries has clarified that the recommended S$1.1 million annual salary for entry-level ministers includes basic pay and bonuses amounting to seven months.
In its blog post, the committee said it assumes a one-month annual variable component, a three-month performance bonus and a three-month National Bonus.
Without bonuses, the basic pay is 13 months, totaling S$715,000.
It made this and several other clarifications in a post on its official blog on January 11.
It said several aspects of its report have been misunderstood or not clearly understood.
The committee also explained why its proposed wage benchmark links ministerial pay to the salaries of 1,000 top Singaporean earners.
It said this was to reflect 'the level of talent it hopes to attract and the need to pay competitive salaries to minimise the opportunity cost for these people to come forward to serve.
The committee also explained why it had not chosen to peg salaries to foreign leaders' pay instead.
Although it said this was studied in detail, it wasn't adopted 'as the conditions in other countries are different and so are the compensation principles'.
Doing so would not allow the committee to 'follow the principles of paying competitive salaries and clean wages'.
Prime Minister Lee Hsien Loong has said that the Government intends to accept the committee's recommendations, which will be debated in Parliament on January 16.[/SIZE][/SIZE][/SIZE]
