The world’s highest paid political leaders
Low salary compared to CEOs
Being head of state or head of government involves high pressure from the citizens of the country and from outside borders, long tedious working hours, and relatively little salary, at least compared to that of CEOs of large corporations.
Best paid world leaders
However, some world leaders have a much better salary than others. Here are some of the highest paid world leaders in 2023.
Lee Hsien Loong, Singapore
Lee Hsien Loong, the prime minister of Singapore, receives the highest compensation compared to any other government leader globally. He earns approximately $1.6 million a year.
One of the least corrupt countries in the world
The high salaries are meant to discourage corruption among the top ministers and attract the brightest government officials to serve Singaporeans. Perhaps, that’s why Singapore ranks top among the least corrupt countries in the world.
Photo: Peter Nguyen/Unsplash
Carrie Lam, Hong Kong
Carrie Lam, the Chief Executive of Hong Kong, comes second. According to South China Morning Post, she earns approximately $672,000 annually.
Pay rise for top government officials
According to the Chinese newspaper, she achieved this annual salary after the Hong Kong government implemented a proposed 12.4% pay rise for all its heads.
An incentive to recruit highly-qualified people
The salary increment was considered an incentive to recruit and retain highly-qualified government officials, as well as to cushion the effects of inflation.
Ignazio Cassis, Switzerland
Ignazio Cassis, President of the Swiss Confederation since January of 2022, earns around $483,000 annually, ranking third on the list of the best payed world leaders.
Joe Biden, USA
Being the leader of the world’s superpower, many people would expect the US president, Joe Biden, to be the highest-earning government official. But, he’s fourth on the list, with an annual salary of $400,000.
Extra $50,000 and luxury access
However, the US also allows its president a $50,000 expense "to assist in defraying expenses relating to or resulting from the discharge of his official duties", per the US Code. Plus he has access to the most luxurious amenities like the White House and the Air Force One.
Anthony Albanese, Australia
The fifth highest paid world leader is the Prime Minister of Australia and former leader of the Labor Party, Anthony Albanese, who follows Biden with an annual salary of $378,400 approximately.
Other well payed world leaders
Not far behind, is the chancellor of Germany, Olaf Scholz (pictured), who earns about $360,000 annually, followed by the Prime Minister of New Zealand, Jacinta Ardern, who earns almost $340,000.
The top ten
Also in the top ten: Mohamed Ould Ghazouani, President of Mauritania, in 8th place ($330,000 p/y), followed by the Chancellor of Austria Karl Nehammer ($328,000 p/y) and Xavier Bettel (pictured), Prime Minister of Luxembourg ($278,000 p/y).
Canada
Canada’s Prime Minister, Justin Trudeau earns $267,000 annually, occupying the 12th position in the list of the world’s best paid leaders.
UK
UK’s Prime Minister, Rishi Sunak, earns around £161,401 ($186,685) annually. Not that it makes much of a difference to him, given he’s the 222nd richest person in the world, according to The Sunday Times.
Worst paid leaders
On the other hand, some world leaders are really badly paid. Some of the worst ones are Laos president ($1,630 p/y); Cuba’s president, Miguel Díaz-Canel ($360 p/y) or Ali Khamenei (pictured), the supreme leader of Iran, who supposedly doesn’t receive a salary.
Corruption trap
However, low salaries on top government jobs, usually lead to corruption, especially in a dictatorial regime like Iran’s, for instance. And even though on paper, they might have a certain salary, they most probably have millions at their disposition.
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