Ministerial salaries - my view


The following is my view on what the ministerial salary revision should look like and is calculated by using the table above as the base (the table is found HERE).


The MPs monthly salary should be calculated by averaging:
1 - 10th of Employed Household by Decile: $1400
41 - 50th of Employed Household by Decile: $5888
91 - 100th of Employed Household by Decile: $23684
(1400+5888+23684)/3 = $10324

Annual income: $10324 X 13 months = $134,212

The monthly salary for Ministers and Senior Parliamentary Secretaries should be calculated by multiplying $10324 (salary for MPs) by the average of real annual change in percentages for the:
1 - 10th of Employed Household by Decile: 4.9%
41 - 50th of Employed Household by Decile: 7.1%
91 - 100th of Employed Household by Decile: 4.1%
4.9+7.1+4.1 = 5.4%
10324 X 5.4 = $55750

Annual income: $55750 X 13 months = $724,750

The monthly salary for Administrative officers at SR9 superscale grade should be calculated by dividing 5.4% by 3 = 1.8%, and multiplying it by $10,324 = $18,583.

Annual income for AOs at SR9 grade: $18583 X 13 = $241,579

The monthly salary for the Prime Minister should be calculated as such:
(1.8 X 2) +5.4 = 9%
$10324 X 9 = $92,916

Annual income for the Prime Minister: $92916 X 13 = $1,207,908

The monthly salary for the President should be calculated as follows:
($92916 X 14)/13 = $100,063

Annual income for the President: $1,300,819


On top of this the MPs, AOs, Ministers, PM and President should also receive bonuses that are not higher than 3 times their monthly salary, reflecting the strength of the economy, as well as the performance and prospects of the nation in GDP, productivity growth, consumer price index and other relevant indicators.

Comments

Chris Tan said…
I think the amounts that result from this method you use are ample and fair. Yes, our leaders should be well rewarded for their work, but no, not at the current amounts, which are simply astronomical. The money saved could go to a lot of better uses for our society.

Chris
Gary said…
Ravi,

There should also be a proviso as far as the MPs are concerned - they should only be paid half-pay as long as they are holding another full time job.

I fail to see how a part-time MP can do justice to his MP responsibilities when he/she is also employed elsewhere full time and earning from it as well.

The other half should be paid into a kitty for helping deserving cases of people in need in any situation.
FedUp said…
That is still quite generous because the PM of Australia with the recent revised salary still does come close not to mention that Australia is a continent while Singapore is just a red dot.