Ministry of Education has announced a new scheme of service that more strongly emphasizes the link between pay and performance.
With this new scheme, teachers will be rewarded with performance-based increments and bonuses. The existing salary scheme apparently does not incentivize good performance with its fixed annual increments.
While transiting to the new scheme, a performance bonus “top-up” of 1.25 months, 1 month and half month will be given to teachers with outstanding, very good and good performances respectively. The top-up will be given out in March 2008.
“Eligible” officers will also receive a one-off salary increment of up to 4%.
The new scheme offers “a salary range system with merit increments that are based on … performance, potential and market wage movements.”
The annual packages of good performing teachers are expected to go up by 12% to 18%. For example, an outstanding performer with 3 years of teaching experience will get $65,000 per year.
As for principals on the Superscale ‘H’ salary grade, a good performer will get $193,000, while an outstanding one will get $218,000 per year.
(With $218k/yr, you make more money than ~95% of resident taxpayers. Use this benchmarking tool to calculate.)
So, if you want to be an educator, aim to be an outstanding principal!