Originally Posted by Unregistered

MAS benchmarked against I think middle/back office of financial sector and set the benchmark at a certain percentile (e.g. 70%). Cannot compare with front office salary figures.

MAS is a good place to 'take shelter' in during stormy days like this. U sacrifice some moolah for security. But when the weather is fine and FIs are paying top money outside, MAS will be slow to revise compensation upwards and there will be a cap.

A typical civil/public service way of benchmarking to make sure they are following salary trends but not paying top money (at 90-100% percentile) like FIs outside.

Because need to make sure it has financial prudence of a govt agency. And govt agency are not money making entities. MAS investments goes back into state coffers. Unlike FIs where employees will get a cut of the earnings.