Ministers’ pay increased 46x vs 18x for “factory worker” last 56 years?


In 1965, the salary of Ministers of State was $2,000……/data/pdfdoc/lky19700507.pdf

In contrast, “for lower income Singaporeans then (1965) and now, he said a factory worker at a rubber slipper factory then would earn $87 a month”……/singapore-budget……

In Jun 2021 – the salary for Ministers of State (MR4) was $1.1m, & for a Hand Packer (manufacturing) (nearest equivalent of “factory worker” that I managed to find) was $1,556 (gross wage)……/Occupational-Wages……

So, the Minister of State’s pay increased by about 46 times or about 7.1% p.a. ($91,667 divided by $2,000), compared to about 18 times or 5.3% p.a. about for the “factory worker”

Since inflation from 1965 to 2021 was about 299.4% or 2.5% p.a. (25.513 CPI 19653, 101.9 CPI 2021 Jun) – the real increase for the Minister of State, was about 4.6% p.a. (7.1 – 2.5%), & 2.8% p.a. (5.3 – 2.5) for the “factory worker”……/consumer-price-index-annual…………/news/cpijun2022.ashx

About the Author

Leong Sze Hian has served as the president of 4 professional bodies, honorary consul of 2 countries, an alumnus of Harvard University, authored 4 books, quoted over 1500 times in the media , has been a radio talkshow host, a newspaper daily columnist, Wharton Fellow, SEACeM Fellow, columnist for theonlinecitizen and Malaysiakini, executive producer of Ilo Ilo (40 international awards), Hotel Mumbai (associate producer), invited to speak more than 200 times in about 40 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of 2 countries. He has 3 Masters, 2 Bachelors degrees and 13 professional  qualifications.