The highest-paid government leaders in the world include:*
- Lee Hsien Loong - Prime Minister Singapore - $1,610,000
- Carrie Lam - Chief Executive Hong Kong (CEO) - $672,000
- Joe Biden - The US President - $400,000
- Angela Merkel - The Chancellor of Germany - $369,727
*All salaries are displayed in USD.
Below is a detailed discussion of each leader:
Lee Hsien Loong-Prime Minister Singapore
Lee Hsien Loong, the incumbent prime minister of Singapore, receives the highest compensation than any other government leader globally.
Lee earns a salary of approximately US $2.2 million, which is way higher than the $400,000 earned by US president Joe Biden. It is also more than 12 times higher than what the Russian president Vladimir Putin earns.
According to some senior government officials, the high salaries are meant to discourage corruption among the top ministers and attract the brightest government officials to serve the Singaporeans.
Perhaps, that is why Singapore ranks top among the least corrupt countries in the world.
Carrie Lam-Chief Executive Hong Kong (CEO)
Carrie Lam, the CEO of Hong Kong, comes second. According to South China Morning Post (SCMP), Carrie earns approximately US $672,000 annually.
According to sources, she achieved this annual salary after the Hong Kong government implemented the proposed 12.4% pay rise for all its heads.
The salary increment was an adjustment to the cumulative changes to the (CPI) Consumer Price Index in the past four years to cushion them from the effects of inflation. It was also considered an incentive to recruit and retain highly-qualified government officials.
Unfortunately, Carrie Lam receives all of her salary in cash due to a lack of a bank account, following US sanctions on her and other Hongkong and Chinese officials.
Joe Biden-The US President
Being the leader of the world’s superpower, many people expect the US president, Joe Biden, to be the highest-earning government official. But, this is not the case. Joe Biden earns the US $ 400,000, ranking him 3rd among the highest-paid government officials globally.
Besides being the third highest-paid public servant globally, Biden has access to the most luxurious amenities like the White House and popular Air Force One.
Scott Morrison-Prime Minister of Australia
The Australian Prime Minister, Scott Morrison, comes fourth after Joe Biden, earning nearly US$ 550,000 per year. According to sources, his salary has increased gradually over time. In March 2012, for instance, Morrison was earning US$140,910. However, by the end of May 2012, his salary grew to US$231,250 before shooting to his current salary of approximately US$550,000.
The Independent Remuneration Tribunal is responsible for the progressive increments in his salary, which adjusts the payments of the government servants depending on economic conditions.
Angela Merkel-The Chancellor of Germany
Angela Merkel comes fifth on our list with an annual salary of US$369,727. Her salary is eight times more than that of a household median income in the country.
Her annual salary is higher than that of the British Prime Minister, Theresa May, who earns approximately US$197,000.
Angela Merkel is famous for being Germany's first female chancellor in 2005 and helping Germany recover from her financial crisis.