Missing the point or clever ploy? You decide.

We should not mistake a bonus as "somebody getting something extra and undeserved and out of line with the current economic situation", says Mr Lim Boon Heng. While I see this as an attempt to deflect discussion of the CDC bonuses (very clever), he brought up the bonuses at AIG as the talking point. And this is where I think he missed the point.

No, I don't think there is a problem with bonuses per se. I agree that it is a common part of the wage package. But the outrage, as it is commonly described, is not only of public perception that the bonuses were paid using public money, but also that these bonuses are not tied in to performance. Bonuses to reward and boost performance, to incentivise achievements, are justified. Retention bonuses are not. The common excuse is "to retain outstanding talent", but if they truly are outstanding talent, then their performance should indicate that.

That is why the backlash is so great. But guess who handed out bonuses to CDC employees and uses the same excuses? Just to put this into perspective, here are two lists of the best paid politicians in the world. Have a look. Be outraged. I think it is deserved.

Thanks to @mrbrown and @roycheong1 for the articles. I figured I should start this month's blog entries a little angry.

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