Singapore’s ministerial pay:How much it has grown?

January 6, 2012 at 2:18 pm Leave a comment

In 1973, PM’s monthly pay was $9500. A minister’s monthly pay was $7000.

In 2011 under the new pay scheme, PM’s monthly pay is $183,333 while minister’s monthly pay is $91,666.

The annual compounded growth rate for PM’s pay from 1973 to 2011 (38 years) is 8.1%.

The annual compounded growth rate for Minister’s pay from 1973 to 2011 (38 years) is 7%.

The per capita GDP in 1973 is $4737. The per capita GDP in 2010 is $59813. Assuming GDP per capita increased by 5% in 2011, GDP per capita for 2011 is $62803 .

The annual compounded growth rate for per capita GDP from 1973 to 2011 (38 years) is 7%.

Looks like PM salary has slightly outrun GDP per capita while ministers salaries have kept up with GDP per capita.

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