After a 15-year freeze, the salaries of Singapore's political officeholders will be adjusted after the government accepted the recommendations of an independent review committee.
\n\nThe benchmark salary of a minister at entry-level grade MR4 will increase from S$1.1 million to S$1.8 million.
\n\nThe news caught international media attention, and all sorts of numbers have been thrown out — S$1 million increase, 64 per cent rise.
\n\nBut how much are Singapore's political officeholders actually getting paid now?
\n\nPrime Minister Lawrence Wong emphasised the reason for the increase: good government depends on good leadership, and good leadership requires good talent.
\n\nThere are many impediments when it comes to convincing individuals to switch to political life. A pay cut might not be the main reason — but it's still an opportunity cost that should not be ignored.
\n\nIn his speech, PM Wong mentioned potential pipelines of talent for public office. Such an individual might be a senior civil servant, or the CEO of a major listed company in Singapore (or on track to be one).
\n\n"At those levels, remuneration can run into several million dollars a year — well even above the revised MR4 benchmark," PM Wong said.
\n\nThe government is not, and…
Original source: https://mothership.sg/
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