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8 Months Bonus for Northwest CDC Staff

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  #1 (permalink)  
Old 14-03-2009, 07:14 PM
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Default 8 Months Bonus for Northwest CDC Staff

Heard it on radio news again today. Mr Teo Ho Pin, who's mayor of Northwest CDC, did not deny the Internet rumours that 2 staff from Northwest CDC received 8 months bonus.

The news also mentioned that the bonus is set in accordance with National Wage Council guidelines.

After googling, I found that this has also been reported in the 938 Live (radio) site, and also in Chinese in the Capital 958 site a week ago.

Now, after our town councils incurred million-dollar losses in Lehman Brothers-linked investments, and with an expected record number of job losses this year, is it even appropriate to reward staff with such eye-popping bonuses with taxpayers' money? [Update 17-Mar: It has been revealed that the 2 staff are "managers in mid to senior positions" in Northwest CDC.]

And isn't this at odds with the pay cuts announced by the government and lately some GLCs and TLCs?

[Update 15-Mar: Mayor Teo Ho Pin in his latest interview clarified that "mayors do not decide on the salaries, the increments, the bonuses of all our staff at the CDC... If you ask me, I do not know the salaries; I do not know the bonuses of all my staff" and went on to say that top performers will get better bonuses and that "in the private sector, it's the same thing."]

How much bonus did you receive this year?


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  #2 (permalink)  
Old 14-03-2009, 10:57 PM
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Default 4329

My bonus is 3 months. I work in a support function in a foreign bank and my performance was rated excellent by my bosses. Though the bank's business was very good last year, no one in my department, or any other support department, got more than 3.5 months.
8 months would be unimaginable.
In my opinion, a CDC plays some kind of a support function in Singapore, so why are we paying sales-type of bonuses?
3 months in such a climate is more than enough for any superior performance. The CDC in question has no sense of proportion.

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  #3 (permalink)  
Old 14-03-2009, 11:19 PM
Jimmy Lim--
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Default 4330

The moral of the story.

Get yourself employed as Northwest CDC staff.

Anywhere, what did they done to deserve 8 months of salary?

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  #4 (permalink)  
Old 16-03-2009, 07:23 PM
S N Y--
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Default 4339

Yes, i'd like to know too what the staff did to get the 8 months bonus.
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  #5 (permalink)  
Old 17-03-2009, 08:52 AM
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Default 4343

i think 8 months is pretty normal...
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  #6 (permalink)  
Old 18-03-2009, 12:27 AM
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Default 4349

I think so too. So many people got more than 8 months as stated by the above poll. The CDC people should get more considering they are doing important nation building work.
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  #7 (permalink)  
Old 18-03-2009, 03:52 PM
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Default 4352

These are special people. They are the best and so deserve the best pay. The losses? One must be wholistic ... There's up and there's down. There's profit and there's losses. The amount is peanuts compared to the total funds; only a few percentage! 8 months bonus? We see CEOs and top people getting more than 12 months bonus, what is 8 months? I don't understand what the fuss is all about! Sack? Yes, the Payment Admin Officer may be investigated and removed. Pls don't go on a witch hunt anymore. We have too large reserves? Don't be stupid. These funds are safety nets. Safety nets are required in emergencies. They are critical and never too large, one must always be ready! Anymore bonuses to other staff? Sorry these information are all confidential. Just a range and no details? Oh I don't know ... pls ask other department ...
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  #8 (permalink)  
Old 19-03-2009, 12:45 AM
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Default 4355

yeah, that poll is obviously reliable since it's done over the internet.
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  #9 (permalink)  
Old 19-03-2009, 07:27 PM
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Default 4358

I think it is just the system in civil service and government-related companies. There is performance bonus in March, and then there is the year end bonus, where, for superscale salary earners (either damn old or damn educated), it is directly tied in with economic performance. The performance march is given out on a grading basis. Inevitably some people will get an "A" - and the luan qi ba zhao bonus that comes with it. Coupled with the fact that our economy still grew despite the shitty run-in, 8 months in total is not that impossible. For a private market equivalent, just ask the keppel engineers [...and aig executives who are pretty receiving the same form of flakes. ]
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  #10 (permalink)  
Old 19-03-2009, 07:39 PM
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Default 4359

barclays Says:

March 19th, 2009 at 12:45 am
yeah, that poll is obviously reliable since it's done over the internet.

Why more zhun leh? Voluntary survey is highly reliant on polarized opinion - people who bo hiu about the article will not vote.

But you salary is very high. That is all that matters. haha.
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