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At 8.38 pm January 8, PM’s pay would pass Ah Beng’s yearly salary

In Political governance on 05/01/2017 at 7:56 am

(Amended at 1 00 pm to reflect Chris K revised assumptions. Original title was: Tom morning, PM’s pay would pass Ah Beng’s yearly salary)
Earlier this morning I reported that

 I read that really tua kee bosses in the UK will have earned more by midday on Wednesday than typical workers earn in the entire year, the High Pay Centre think tank said.

I asked Chris K or Uncle Leong to compute something similar for PM and Ah Beng. (OK I wasn’t being PC, I should have said “Ah Beng, Mat, Ar Neh or Grego” even though us ethic Chinese are 70% of the population.)

Chris K replied:

Assuming Ah Loong earned $3.2m a year and Ah Beng’s monthly salary is $3,800 a month, then by 5 am first Friday of the month, Ah Loong would have passed Ah Beng’s annual salary.

Ah Loong was reported last year to make $2.2m and Singstats reported monthly median income is $3,949. So Ah Loong pass Ah Beng on Sunday 8th January at 2038 hours.

Thanks Chris. Lunch on me when we meet.

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  1. $3,800/mth kinda high for Ah Beng. Ya I know the median salary according to DOS is about $3,400 (excluding employer CPF) but this includes 500,000 PRs most of whom tend to be in the higher-income bracket.

    For the real Ah Beng, $2,500 is more likely (quite good already). Including 13th month AWS and 1 mth bonus, that’s an annual salary of $35,000. Good enough to chalk up a few credit cards & unsecured credit lines and drive a souped-up Subaru (just barely).

    So still taking PM’s salary as $3.2M per annum, but calculating based on 5-day work week and 8 hrs each day (exclude lunch hour)…
    Total work hours in 1 year = 52 X 5 X 8 = 2080 hrs [ignore PH for this simple calculation]
    PM’s hourly rate = $3.2M / 2080 = $1538/hr (approx.)
    How many hours PM needs to “work” to hit Ah Beng’s annual salary = $35K / 1538 = 22 hrs 45 mins (approx.)
    Taking 5-day work week and 9am-6pm working hours & ignore PH, then PM will exceed Ah Beng’s annual salary just after 4:45pm on Wednesday.

  2. this year onwards, have to buy more 4d, big sweep and toto.

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