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DPM and PM Lee's actual full earnings calculated
« on: September 11, 2018, 08:33:01 pm »
Let me calculate the total salary of the Singapore deputy prime minister (DPM) for you.
(1) The base salary of the Singapore DPM is S$1.87 million.
(2) Assuming that he got the average performance bonus of 4.1% in 2017,  this means that his performance bonus was S$638,917 in 2017. His  performance bonus is even higher than the salary of the president of the  United States.
(3) All the ministers get a National Bonus (NB) of up to 6 months. Based  on the formula to calculate the National Bonus (NB), they would have  gotten 4.5 months of NB last year. The DPM would have gotten S$701,250.  (*see formula in link below)
(4) All the ministers also get a 13th-month annual allowance. This is an additional S$187,000 for the DPM.
(5) All the ministers also get an annual variable component of 0 to 1.5  months. Let's say, the deputy prime minister got 1 month, which would  give him another S$187,000.
(6) In total, the DPM (and the other ministers) received a total bonus/allowance of at least 9.6 months.
In total, the Singapore deputy prime minister would have earned at least  S$3.58 million last year. This is nearly 2 times his base salary.
A lot more at https://tinyurl.com/ybt5bm7m