New announcement for even higher Minsiters' pay...
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Bravo, In order to narrow the gap of my earning, it is right time for us, the hawker, to raise the food price liao. few of my hawker friends intend to raise the food price next month. Bravo, Singapore govt, thanks for give us a good reason to raise the food since the govt sector is increase their pay. We need to narrow the gapOriginally posted by shade343:Fund managers get paid around S$2M per year EXCLUDING bonuses which can go as high as 10months. Big Fund managers which manages huge portfolios can go as high as S$10Mper year.
LHL is a finance minister so he manages our country's finance and economy. I think S$2.1M per year shld be quite ok for him.
For the other ministers, maybe S$1.3Mper year? -
With all that's been said, how much is too much?
What will our ministers do with all this money? Will it buy happiness? Piece of mind? Instead of debating a salary adjustment, how about offering a tidy sum to charity, which has been hard hit since the fallout of the old-NKF?
If our economy is really doing well, and our ministers think they're not getting a commeasurable salary, switch to the private sector then. Retaining top talents by upping their wages with our taxpayer's monies is surely daylight robbery, given their already exhorbitant pay.
If they continue to push through for this pay increase, can they still deny legitamised corruption?
Will this be the legacy of the MIW and our MM? 'Money literally makes mare go'?
Is this perhaps the real reason why they are so guarded about the National Reserves? Milking it dry for their own purposes?
The lack of transparency and need to explain their actions is simply appalling. -
KPKB here in SgF no use one lor........
This issue is better to be discussed at the next elections lor........
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At the height of the last recession, we were constantly reminded of the virtues of a "flexible" wage system and how we should have KPIs and move away from a seniority-based system.
In the last GE, I vaguely remembered an opposition member's suggestion of pegging our minister's pay to 10X the average salary of the lowest 10% of our working class...or something along that line.
I personally don't think that is a bad idea... but with some refinement.
1stly, KPIs. As a government, much as the aim is to increase our GDP, it must now also aim to close the gap between the rich and the poor. Just as all organisations use their reward systems to help achieve their organisational goals. these changes as organisational goals changes. Likewise, the remuneration system for the top echelons of our civil service must change to meet this new need.
2ndly, flexible wage system. How do we fit these KPIs to a fixed and variable component of a flexible wage system? Well, to attract and retain the able to the top echelons, the fixed component needs to be fair, but certainly not exorbitant to the extent of being indecent! Perhaps, the current salary that these people draw can be "defaulted" as the fixed component. Any intended increases should go to the variable component, but tied to the KPI of closing the gap between the rich and the poor. This way, the population can see the "soul" of the people at the top working for them, and will be less resistant to any increase to their remuneration.
Above is a rather simplistic suggestion, but I think it captures the essence of what the government has been telling its people. When we see them doing what they tell us to do, the support comes naturally.
I remember in one parliament seating, when an opposition member asked the manpower minister what the governments' long term target was in terms of the unemployment figure, the opposition member was flabbergasted at the go-around he was given and turned to the speaker of the house and said...he did not answer my question! The people are told to have KPIs and have their pay pegged to it. But when we ask for the unemployment KPI, we are not given an answer.
So, perhaps, this is a good time to show that they can walk their talk.
Just my thoughts. -
are you sure you know what you are talking about? Go read Peter Lynch's One Up on Wall Street. A fund manager's performance is evaluated monthly and when it comes to quarter, its when they assess whether the fund manager is performing. If he is not, off he goes.Originally posted by shade343:No, you are not instantly fired it depends. Most mutal funds take a long term view when investing unlike hedge funds. If you are a hedge fund manager and you underperform, yes, you are fired. But Hedge fund managers are in another league, their salaries are easily much higher than the standard fund manger as they take on more risk.
Hey, under the guidance of LHL, our Singapore dollar has hit a 9 year high against the USD. On top of that, the PAP government has managed to restructure our country such that we are now enjoying a property boom. All this thanks to our dear leader.
Let us not deny him a fair wage for his efforts in rebuilding and rebranding Singapore
A fund is someone's hard-earned money. When you take a high pay as a fund manager, you are answerable to the people whom you are using their money for investment. If your performance is under-par, you are replaced, and that's more or less the end of your career.
As I told you, there is a heavy responsibility underlying the fund manager's pay. If he fails, he dies
How about our govt? Suzhou fail? no heads roll. Shin Corp screwed, keep quiet. IDA made a $200million mistake and Singtel reap in the money? Govt says, that's an honest mistake. No one is to blame
You CANNOT have the cake and eat it. Everything they do benefits only themselves. And you tell me they are worth that money?
And as others told you, don't be so quick to credit that guy with our singapore dollar. And so what about the property boom? Is your life any better? The average Singaporean only can own one house, and it does him no benefit having his value raised, coz end of the day, he only has one house!
That's so different from the past, when HDB was for everyone, and CPF was for everyone.
So I ask again, what achievements does he have? Where are all those PAP supporters. Face the issues like a man, instead of calling those who are upset with the govt "Idiots".
do you know how much I think they are worth? I think they are worth at most $25k/month, TT Durai's pay, coz I think Durai's smarter than many of our ministers. -
PM,
Why do ministers need so high salaries?One can only sleep on one bed,eat 2 bowls of rice per lunch & live in one house.I don't think any minister is going to buy an aeroplane for his own use.Why do u all want so much money? -
More money means the better quality of material and essential items they can have.Originally posted by PRP:PM,
Why do ministers need so high salaries?One can only sleep on one bed,eat 2 bowls of rice per lunch & live in one house.I don't think any minister is going to buy an aeroplane for his own use.Why do u all want so much money?
If you no money, you only can eat rice with salted veggies and eggs. Got money, everyday eat abalone also no problem.
Besides, when you see that much money in your bank account, never use also feel shiok. -
But you forgot to mention that the government is lowering Corporate taxes. This would in turn enable companies to pay a higher wage to their employees. And such a move is what the government wants as we move towards a system of workfare and not welfare.
naive!! i hope PAP can sent better spy then you!!! -
another durai
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what if Parliment sets out a new law by 2011 that abolishes elections? Singaporeans also cant do anything, just follow law. HAHAHAHA!Originally posted by :KPKB here in SgF no use one lor........
This issue is better to be discussed at the next elections lor........ -
Ya,this is the news i have been searching for.....I think my com didnt refresh this forums pages.Those PAP leaders really fuk up,they only care about themselves n neglect the welfare of majority Singaporeans.
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Originally posted by BillyBong:
The PAP leaders thought by pushing their salary higher n higher,they will catch the "admiration"of Singaporeans.They are such an "Attention seekers".
With all that's been said, how much is too much?
What will our ministers do with all this money? Will it buy happiness? Piece of mind? Instead of debating a salary adjustment, how about offering a tidy sum to charity, which has been hard hit since the fallout of the old-NKF?
If our economy is really doing well, and our ministers think they're not getting a commeasurable salary, switch to the private sector then. Retaining top talents by upping their wages with our taxpayer's monies is surely daylight robbery, given their already exhorbitant pay.
If they continue to push through for this pay increase, can they still deny legitamised corruption?
Will this be the legacy of the MIW and our MM? 'Money literally makes mare go'?
Is this perhaps the real reason why they are so guarded about the National Reserves? Milking it dry for their own purposes?
The [b]lack of transparency and need to explain their actions is simply appalling.
[/b]
But their doings will only bring more despise by the public.Money cant buy "respect".The more they raise their pay,the more they will get discarded by Singaporeans who choose to migrate to other countries n pleadge loyalty to other countries leaders rather than becoming PAP slaves. -
Already,Lee Kuan Yew,Goh Chok Tong and Lee Hsien Loong might have aware that more n more Singaporeans are migrating abroad n the amount of foreign talents who they are trying to attract to this crappy nation are not enough to fill up the total numbers of Singaporeans who are leaving this country.
Moreover,Permanent residents cannot exchange the weight of Citizenship which more n more Singaporeans are giving up due to the fact that they have problen serving NS n their loyalty towards this country are still highly indoubt.Many PR who after earning enough money from this stupid island return to their homeland or migrate to other nations.Thats why i said,those PAP leaders are all dummy.
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If our Minsters want to pay themselves like in the private sector, we the voters should have a right to fire them like in the private sector. I say that we have been sufficiently upset about this pay-rise issue, that they should call for a referendum..... Once and for all, we vot eif they should get even more money then now
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It is right that minister salaries, GST and other costs of living are increased now. If not, when they finally do it, it may be too near the 2011 election.
By then, these pains will be lesser and people shall start to support the govt once again. Not to mention the positive propaganda on employment and country governance through the media.
Haha, face it, we are just mere pawns on a chess board. -
Note that the talents they bring in will grant them more votes, more support.Originally posted by drawer:Already,Lee Kuan Yew,Goh Chok Tong and Lee Hsien Loong might have aware that more n more Singaporeans are migrating abroad n the amount of foreign talents who they are trying to attract to this crappy nation are not enough to fill up the total numbers of Singaporeans who are leaving this country. -
At first, this is what we hear from the govt.
Civil service pay is lagging behind. We must ensure they don't lag behind
After a certain period, it became
top civil management pay is lagging behind the private sector, We must ensure the top management don't lag behind.
After a certain period, it became
ministerial pay is lagging behind the private sector. We must ensure ministers' pay don't lag behind.
Haven't all of us noticed, the final one is their ACTUAL objective? All the talk about civil pay laggin behind are lies. They only care about themselves, and use the civil service as a convenient excuse. -
as one of my friends rightly put it.
We, from the private sector, are working with all the risks and pain bringing in the money for Singapore. We face possible retrenchment or cut of wages based on the risks the private sector faces in their competition.
THEY, the govt, are the people who aren't facing all these risks, and insisting they should be paid better than us. They don't face retrenchment, and all the risks we are facing.
Where is JUSTICE?
I told my friends. Whatever career I take, there is always the danger of getting retrenchment. The safest job is the PM or minister's job. Pay high, 0% chance of getting fired. The best jobs in the world -
I have to agree that most ministers do not deserve a pay rise, they already earn ten times what average Singaporeans earn, how much more do they need?!?
HOWEVER, if this pay rise is for civil servants THAT ACTUALLY serve, in particular teachers, then I think they deserve it. Now, I'm not a teacher but I am a student who will be taking a national exam soon.
EVERYDAY, i see my teachers who are really dedicated to what they are doing, but their salary is really meagre compared to those in the private sector. My teachers come to school at 6 to start teaching (those who need it) and end at 6.30. i mean, most of them are earning btw $2500-$5000, but for the amount of work they are doing, their salary definitely is LESS than what they should get. As a teacher, don't forget that you bring home work to do. Worksheets,essays to mark, exam papers and tests to set and the list goes on. They work longer than the private sector (9-5) but this is what they get? I really pity some of my teachers. Most of them would even voluntarily come down on Saturdays to give us tuition....
So, in conclusion, though i think the ministers do not deserve the pay rise, I think people like our teachers who work long hours, some passionately, do deserve a pay rise. Just my 2cents worth... -
the day they begin receiving the astronomical pay cheques will be the day they lose the moral ground to tell the citizens to sacrifice for whatever purpose....
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I dunno what our govt is up too, not long after gst is confirmed to be going up, they going to raise ministers' pay also. Couldn't have come at a better timing issit?
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we may as well hand them a blank cheque book! if LHL thinks he is worth more than he is current salary wonder how much Ho Ching is getting paid. So she screws up on Shin Corp, does this mean she takes a pay cut? any evidence she did? we did well for voting the pap back! For a few peanuts we are distributed annually they take a bigger chunk back in return! we call this democracy!
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I used to work for a private Singapore MNC. I can assure you that our pay is similar to your teachers, and we worked till late into the night. Overtime is normal. Going home on time will result in stares that tell you your job may not be safe anymore.Originally posted by simnatic:I have to agree that most ministers do not deserve a pay rise, they already earn ten times what average Singaporeans earn, how much more do they need?!?
HOWEVER, if this pay rise is for civil servants THAT ACTUALLY serve, in particular teachers, then I think they deserve it. Now, I'm not a teacher but I am a student who will be taking a national exam soon.
EVERYDAY, i see my teachers who are really dedicated to what they are doing, but their salary is really meagre compared to those in the private sector. My teachers come to school at 6 to start teaching (those who need it) and end at 6.30. i mean, most of them are earning btw $2500-$5000, but for the amount of work they are doing, their salary definitely is LESS than what they should get. As a teacher, don't forget that you bring home work to do. Worksheets,essays to mark, exam papers and tests to set and the list goes on. They work longer than the private sector (9-5) but this is what they get? I really pity some of my teachers. Most of them would even voluntarily come down on Saturdays to give us tuition....
So, in conclusion, though i think the ministers do not deserve the pay rise, I think people like our teachers who work long hours, some passionately, do deserve a pay rise. Just my 2cents worth...
I took a big step, and accepted a job from a foreign MNC, giving up all existing relationships, and certainty in my previous job. My pay jumped almost 2fold.
The fact is, its not only your teachers that are paid badly. Its ALL singaporean companies that are paying their staff badly. The only people who are paid well are those ministers you see sitting up there. -
Mdm Ho deserve a pay increase and huge bonus too. As she has provided a textbook example of how to screw up big time. I am sure all the directors and managers in the GLCs can learn from the bright shinning example. Don't you agree?
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exactly. i'm only using a teacher as an exampleOriginally posted by soul_rage:I used to work for a private Singapore MNC. I can assure you that our pay is similar to your teachers, and we worked till late into the night. Overtime is normal. Going home on time will result in stares that tell you your job may not be safe anymore.
I took a big step, and accepted a job from a foreign MNC, giving up all existing relationships, and certainty in my previous job. My pay jumped almost 2fold.
The fact is, its not only your teachers that are paid badly. Its ALL singaporean companies that are paying their staff badly. The only people who are paid well are those ministers you see sitting up there.