06 Jan '12, 2am

Ministers' pay cut proposal: Who earns $1 million in the private sector

Ministers' pay cut proposal: Who earns $1 million in the private sector

The $1.1 million entry-grade benchmark salary for new ministers is not an easy sum to make in the private sector, but it is not that rare either. Industry and human resource experts on Thursday said the people who make that amount tend to be the senior executives in large companies or the chief executives of medium-sized ones. There are also dozens of these top earners in professions like law and medicine. Related Links WHO EARNS AS MUCH AS A MINISTER? Background story More reports: Prime Editorial: Review Insight Forum In finance, the sum can be made by the head of a department at a bank, a trader, a top private banker or an investment banker. A committee to review ministerial salaries unveiled on Wednesday its recommendation that pay for new ministers be pegged to the median income of the top 1,000 Singaporean earners, with a 40 per cent discount. The reference point cam...

Full article: http://www.straitstimes.com/The-Big-Story/The-Big-Story-1...

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