Remuneration packages of CEOs in Singapore are fairly modest in comparison to their global counterparts, according to Kumar Subramanian, partner for talent rewards and performance, southeast Asia at AON. “For perspective, the CEO of an S&P 500 company was paid on an average around US$14m a year. If you look at Singapore listed companies, only two or three CEOs would probably make that sort of figure,” said Subramanian.
This compensation includes the guaranteed salary which includes a base salary and, in a few instances, 13th-month bonus, which is essentially an extra one month guaranteed salary for that specific year. This is applicable only if the 13th month bonus is practised throughout the organisation. Other forms of guaranteed compensation include various allowances that are paid in the form of cash.
In addition, there are long-term incentives. The incentive is a contingent award of shares. These shares will typically vest over a period of three or four years. To monetise the award, the CEO needs to stay in the company as an active employee and also achieve certain performance conditions that will be attached to the vesting of the awards.
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