How Much Are Singapore Ministers Paid?
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- Опубліковано 31 лип 2024
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0:00 - Intro
0:32 - Historical pay
1:01 - Government leaders pay across the world
1:38 - How are ministers’ pay determined?
6:13 - Is their high pay justified?
8:33 - My thoughts
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With this logic, they should pay every singaporeans 20k a month to prevent people from stealing and committing crimes.
Your logic is very close to the real world. Crime rate in countries with higher median pay are lower than those with lower median pay.
What a topic, definitely gonna attract a lot of clicks to see the vid. Great job kelvin and happy lunar new year to everyone 🎉
How many People here feel that the pay is sooo high for this so call servants to the country and citizen that they already cannot see the ground or feel the ground. I don't think they know this word call "suffering" from the way they push policies that directly and indirectly causes high cost of living. When they say rising taxes is good for you in futures, you already know they have ran out of ideas of how to keep cost down. so easy and simple, just rise taxes to solve "problems" and how can they justify that with their high salary? anyone on the street also can do that!
Thanks for taking up such a sensitive issue. My view is this. Let us assume 25 million is the pay per year for the political leaders. For a 5 million population, each person is paying $5 per year. If we ask anyone else in the world if they could pay $5 per year to have a living standard like Singapore, I think they will put both their hands up and wish that is so.
Should not this 5 million exclude children and non working adult... the burden to bear this cost always belong to the working class.
@@adrielleong5358children and non working adults are subsidised and is definitely more than SGD5 yearly
Kelvin, well done and Happy Lunar New Year! Huat ah!
High pay does prevent corruption. Good examples are high paid civil servants and minister being prosecuted.
My only question - is minister pay the only income source for them? And what other benefits are packaged under minister pay package? (we have to compare also what other countries minister pay package includes). I have more respect to our founding generation minister as they really walk the ground to understand the people's concerns and come up with solution that are more well thought through. ( reflect from recent events - like the "simply-go" project.. become "simply-gone" in jus matter of days and despite pouring in so much time n money, we ended up still sink another 40 Millions jus to status-quo. I'm not saying tat their job is easy but they give us the feeling that "responsibility" lacking.. No point doing a lot but all half-baked solutions.
It is not uncommon to see GLC paying their senior management more than minister. Snr executives in GLC are also making fewer sacrifices ( eg. Exposing family and private life/conduct to public critics, etc).
I won't be surprise that these minister caliber talent has other more financially secure/ rewarding career options when they decide on politics.
Try to do a day in the life of a Minister video, or maybe a month. See what they do. How much free or family time they have, etc.
lol they do nth
Precisely...they did nothing much other than wayang n act busy. Because they have people below them doing all their work.
This is a fact which typical PRO gov wont accept. Even if im pro gov, a fact is a fact and i wont live in denial.
If you're going to change one aspect of finance in Singapore, I would focus on making it easier for small entrepreneurs. The current system is one where the odds are stacked against anyone with less than $100,000 in start-up capital. This can be implemented easily by waiving the COE and allowing for lower rents for commercial property.
This will have an immediate boost to the overall economy because the businesses that are growing will hire people and expand beyond one location.
The problem with Singapore is that the government is currently the largest entrepreneur and a very profitable one. So what's wrong with that? What's wrong is that the business of government is to serve the people, not profit from them. The difference between a private for-profit business and the government is that with a business, you have a choice.
Let the ministers have their millions but let's also allow innovative and hard-working citizens to get ahead.
The usa senators’ recent allowances are more than USD3.7 million. The airforce one costs USD177k per hour. The Singapore ministers income and benefits are much lower compared to the income and benefits of the USA’s politicians. Not to mention the “Donations” the usa politicians received for running office.
Some of the US ministers cant do their math right too.
Maybe we should ask how many months of bonus are they receiving ????
I just checked my company’s CEO compensation, EUR 5.5million. 😅
40% discount of top level CEO years ago is an appropriate salary for the leader of corporate Singapore. If any most CEO salaries are heavily inflated and brings little to no value aside from stroking shareholder's happy thing
For Singapore ministers, is the salary the only compensation? Are there other forms of compensation other then the money. Other country's leaders may not draw a high salary, but some of them have other forms of compensation or benefits.
They are very comfortable with their earnings which most money from tax payer also .....and they are the one planning all the sucked money from us .....average n low income all struggling till now ....did they solve individual needs ??? No they dont care to do that ....well money cannot be brought into coffin ...having such high salary and we suffers ....hope they can sleep well when get old
Just saying, you don't need to corrupt when you can openly take those money as salary.
The order of magnitude is different though
Some country i cannot say , even the village leader makes more then Singapore's Minister and there's no cap to the figures
Interesting ..........
I think of it as, if my minister get $500K per annum, I as a normal working 8-5 , 5 day a week working executive, probably only get $50K.
Like that this video need to push to other countries more since they need to increase it to reduce corruption. 🌊
You did not compare the salary of minister to the private sector, a senior lawyer earns about 3.. 4 million a year, thats about more than 200 thousand a month!!!
most of the ministers took huge pay cut when becoming ministers
😅😅😅
Indeed.
I won't be surprise that these minister caliber talent has other more financially secure/ rewarding career options when they decide on politics.
I opinion that pay should be measure against KPI.
Sigh and people like us that r not even meeting the average income of our country. And more & more foreign talent coming in. Standards were lowered for them …
regrettably with such pay, there will still be corruption like F1 cases. it will be never enough to fund it personal greed.
Corruption is always there. We have to say that Spore is not too bad. Lets hope these recent incidents be awakening call for our ruling party to review and improve before its too late.
not forgetting that GIC/Temasek/NTUC/S'pore Technologies etc has hundreds of companies that some ministers sits in the boards, as well as a good post ministerial retirement prospective positions to fill in.
Just look at the currency rate lar. Singaporeans can laughing all the way to travel all around the world. I rather pay 10x times more to retain the talents so they can provide tip top performance with no bribe rather than pay them a normal executive man’s salary and expect exceptional outcomes from them. Talents are by no means stupid people and they also will request certain life standards to be maintained.
In gist there is no free lunch in the world.
They are now overpaid, but fairly paid or even underpaid.
Iswaran definitely not being paid as well as the rest 🤭
wait.. why is there no mentioning about Iswaran??
Iswaran saga is stupid. He brought F1 to Singapore, F1 has been amazing for the low, middle and high income citizens involved. He didn't kill or hurt anyone. It was economically net positive since 2008 and amazingly positive in 22/23.
Why are we not thanking him and ong beng seng? They created a win win win situation for everyone. Great business!
main point is because Isawaran is from PAP.. if it's opposition who screw up.. things will be worst..it's always about politics.
Vote wisely..
@@timsherman3324
we need to pay them so much just to prevent they corruption??lolz..thats is not the way..
hahahah welcome to corrupted world
Prevent corruption? I see....but its still corrupted...so how is it prevented? Because low as compared to other country? I see.....so its allowed since its lower than others? Still corruption no? Oh....
In sg, any top 10% corporate worker in MNC pulls in minister salary by the time they are 40s. There are 10s of thousands of these people out there, some are good some are trash.
For ministers you want the top 0.01% in their fields. Examples include lee hsien loong, shanmugam, balakrishnan, chen show mao.....
You don't want theoretical idiots like jamus lim, snake pritam or don't know how to listen leong mun wai.
Pay more and smarter people will come. Nothing is perfect, but paying 15x more is better.
PM Lee manages more money and resources than shou zi chew. Yet shou earns 20x what pm lee makes. The monetary power differential is unfair. You'll never get people of shous calibre into government like this
People in the SG and probably the whole want to be know how much his wife earns!!
ya that's what makes iswaran case damn suspicious right. you guys really think he corrupt meh, or is some kind of political ploy to get rid of him for some reason.
Minister pay is way too low. For the trillion they manage and intangibles at stake, it is worth it to pay them at least 10x more.
Ministers should be result oriented crema of the crop superstars. Even if that only improves Singapore by 1%. It's money well spent because tangible GDP and intangibles felt by people will exceed 3billion in value. A 10x profit for spending add 300mil across ministers salaries.
It's ridiculous that your payroll is lower than the bottom premier league team yet expect word class leaders to maintain Singapore as a top 2 country in the world!
Penny wise pound foolish!
POV: US senators & representatives doing Insider trading mainly cuz of their shitty pay lmfao
What has this topic to do with personal finance or investments? Are you trying to stir old political issues among your viewers ? This is neither an in-depth analysis or anything meaningful other than pulling information from past media reporting to incite ill feelings against the incumbent?
Personally...Im not dulan they are paid well. More dulan is they paid so well but still allowed to moonlight as board members, directors etc exec jobs. More and more it seems that being an MP is not the main job more like their side hustle which is the most dulan part.
Which is in stark contrast to the average public sector workers. Why "Pay them well to prevent them from being corrupt" only apply to MPs. Public sector workers on the other hand getting paid "competitive" pay but cannot Moonlight at all, cannot even do grab.
Plus not taking bribes is only one form of corruption. They moonlight, they will have conflict of interests, they invest their money they also can have conflict of interest. All these are corruption. They are paid well enough to justify that they should not be allowed to moonlight and invest.
You are confusing Minister and Member of Parliament. MPs have much lesser responsibilities compared to a minister. That’s why former MP Tan Cheng Bock can juggle many lucrative jobs as well. 😂
@@CalvinK-the_old_fogey I meant MP. Aka Member of Parliament which includes Ministers.
Just Being a Member of Parliament, not a minister, means they already have a legislative role, being able to influence decisions in Parliament, or enact or amend legislation.
They still earn $192,500 annually which is 17.5% of MR4 salary, that's still a plentiful amount at $14.8k a month. Thats a MX9/10 paygrade in Civil service.
Which is why its aggravating to me that a public sector employee cannot moonlight cos conflict of interest says Public Service Division, but MPs can.
@@gweejiahan9336 actually $15k p.m is not a lot. Moreover, most of these MPs have a full time job. Lastly being a company director is not very taxing. I’m sure you can also do multiple roles on top of your own job. That’s why gainfully employed people also do volunteer works. No problem. What you should be concerned about is whether they exploit the situation for selfish gains. Example, passing on secret information or lobby policymakers to benefit their commercial companies.
If there isn’t any unfair advantage I really don’t see MPs holding one or two directorships.
@@CalvinK-the_old_fogey
"What you should be concerned about is whether they exploit the situation for selfish gains. Example, passing on secret information or lobby policymakers to benefit their commercial companies. "
Dude that's literally my point... You just described conflict of interests.
Since when I say they physically weak or mental stamina cmi cannot do two jobs?
My point was always about:
- that they are paid well enough to justify that they should not be allowed to Moonlight at all, to prevent any potential conflicts of interest.
- That it is very unfair that the public service at all levels, meaning those making $3-5k monthly salary, cannot moonlight cos of potential conflict of interests. but when it come to MPs where their lowest pay is literally public service employees' highest pay grade is still allowed to Moonlight.
@@gweejiahan9336 clearly, you don’t understand company directorship. You think it’s a school teacher moonlighting by giving tuition ?
How bout Prime mininster wife?
Filthy rich. With free time for mistress and overseas football games from the 2 PAP ministers. Are there more???????😊
Part time Jon's earning millions.. where to find such loyang?
We still die nothing is forward to your graveyard
pap do nothing also take bouns😝😝😝😝😝😝
I think you ran out of topics to post.
Kelvin, did PAP pay you to do this video? 😂
Kopi time 😂
U should leave out such topic in future. Don’t touch the political world. No balancing in it. Should focus more on investing.
what message are you trying to project? Don't see any link to investing other then showing those old known facts to stir up political sentiments against PAP gov. What's the point? And your facts are very narrow and surface.
Not happy don’t watch
Can't handle the true~? As a investor, we are investing our future here~ I like to know the leaders roles and how much they are paid~! I got no issue with their high salary but certain roles are redundant like the Mayors which are paid 2/3 mil which dun seem justify.
Btw, Kevin did show the corruption index, isnt this in a positive light~?
sensitive and feeling guilty 😂