Friday, March 23, 2007

Top govt salaries far behind private sector's

This was the headline in today's Straits Times.

What? You mean the ministers are not earning enough? That is no doubt what's on most people's mind.

Channelnewsasia also carried similar news.

But that is a fact. Singaporean civil servants salaries are indeed lacking behind private sectors. It's common sense if you have studied business or follow the business world. My advice, always, for people when they say they want to earn lots of money is not to be a civil servant. The salaries are pegged to the guidelines. There's only so much you can earn.

You definitely can earn much more in the private sector especially in companies who matches salary with performance. You have to work for companies which actually matches your achievements to salary.

If you were to ask Jack Welch if salary increases were enough, he would say no. If you only increase salary, other companies can easily increase theirs too. So what is it to prevent the talent drain the government is taking about?

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