While Dominicans are poverty-stricken, Government officials live high on the hog

vince1956

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"SANTO DOMINGO.- Some Dominican Government officials get paid 270 times more than the average, paltry RD$3,600 minimum wage paid to Government workers, according to a document which the newspaper Hoy obtained from several agencies.

The base salary of the head of the Government-owned Banco de Reservas is RD$600,000, not including other perks taking it to $975,000 monthly.

In that bank the managers make "an initial" wage of $180,000 and the directors get paid $300,000, plus perks and incentives,"
 
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Chip00

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Blowing grits

SANTO DOMINGO.- Some Dominican Government officials get paid 270 times more than the average, paltry RD$3,600 minimum wage paid to Government workers, according to a document which the newspaper Hoy obtained from several agencies.

The base salary of the head of the Government-owned Banco de Reservas is RD$600,000, not including other perks taking it to $975,000 monthly.

In that bank the managers make "an initial" wage of $180,000 and the directors get paid $300,000, plus perks and incentives,

Makes you wonder if and when a politician will come along who says he loves his (this) country will have the cajones to think of the people and not his potentially very heavy back pocket.

Wouldn't it be just lovely to have some investigative journalist or new party leader come along and beat this topic to death in front of the public until they realizes that the the public would benefit and not only that have the power to change it? How about comparing the effectiveness (lol) and pay of a typical nobody politcian with like a mayor of any typical small city in the US.

This burns me so bad it makes me want to buy a radio/television station and broadcast this stuff 24/7. But right now I need to run to the local pharmacy to help me with this sudden urge to vomit. These people and those who approve these salaries are as amoral and petty as any crack dealer as far as I'm concerned.
 
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CFA123

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May 29, 2004
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Is annual compensation of US$300k really that high for the head of a bank?

Personally, I don't automatically object to high salaries, and someone that truly understands finance is worth their weight in gold (and then some). The issues are many, often extremely complex, and you can make or lose millions on a single decision.

To get someone qualified, you need to pay a competitive wage or you simply can't attract the talent.

Hector Valdez Albizu's resume:
Banco Central de la Rep?blica Dominicana
 

CFA123

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May 29, 2004
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These people and those who approve these salaries are as amoral and petty as any crack dealer as far as I'm concerned.


I guess I know where my comments above put me :rolleyes:


ps: I doubt 270 of those lower paid workers combined could do this gentleman's job.
pps: Who is John Galt?
 
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Chip00

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I guess I know where my comments above put me :rolleyes:


ps: I doubt 270 of those lower paid workers combined could do this gentleman's job.
pps: Who is John Galt?

It's not just one guy making this type of money but a whole slew of lackies too. What about the pension all these yokels will receive for the rest of their life? What has this country got to show for these deadbeats - shyt!

US $300k is obscene amount of money taking into account the cost of living between here and the US. However, I'm sure some of the political types will justify it as they need their extra house on the beach, a new jipeta every year, send kids to Harvard, etc.
 

mondongo

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Jan 1, 2002
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thanks for the guffaw, CFA

good stuff like this belongs over in the Clown Bin.....


Personally, I don't automatically object to high salaries, and someone that truly understands finance is worth their weight in gold (and then some).


To get someone qualified, you need to pay a competitive wage or you simply can't attract the talent.
 

Mirador

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"SANTO DOMINGO.- Some Dominican Government officials get paid 270 times more than the average, paltry RD$3,600 minimum wage paid to Government workers, according to a document which the newspaper Hoy obtained from several agencies.

The base salary of the head of the Government-owned Banco de Reservas is RD$600,000, not including other perks taking it to $975,000 monthly.

In that bank the managers make "an initial" wage of $180,000 and the directors get paid $300,000, plus perks and incentives,"


Yesterday, President Hugo Chavez, in his inaugural speach (his second six-year term) before the Venezuelan National Assembly, called those earning ridiculously high government salaries, immoral, and proposed to establish a maximum of US$1400 (in terms of the bolivar's official rate of exchange, and US$1000 of the bolivar's secondary market rate) for government employment. Chavez went ahead an added that "those who don't like it, can go seek work in the private sector or some transnational company".
 
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cobraboy

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Yesterday, President Hugo Chavez, in his inaugural speach (his second six-year term) before the Venezuelan National Assembly, called those earning ridiculously high government salaries, immoral, and proposed to establish a maximum of US$1400 (in terms of the bolivar's official rate of exchange, and US$1000 of the bolivar's secondary market rate) for government employment. Chavez went ahead an added that "those who don't like it, can go seek work in the private sector or some transnational company".
No doubt he'll attract a lot of top-notch talent to his government.

But I guess when you're gonna overturn the constitution and become a dictator, top notch talent isn't patricularly important.

No doubt his inner circle will be doing quite well, as they do in any other Communist dictatorships. The average citizen weren't the ones driving Benzs' and having "dachas" on the Caspian and Black Sea.

Even in an egalitatrian Workers Paradise, rank has it's priviledges...
 

cobraboy

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Is annual compensation of US$300k really that high for the head of a bank?

Personally, I don't automatically object to high salaries, and someone that truly understands finance is worth their weight in gold (and then some). The issues are many, often extremely complex, and you can make or lose millions on a single decision.

To get someone qualified, you need to pay a competitive wage or you simply can't attract the talent.

Hector Valdez Albizu's resume:
Banco Central de la Rep?blica Dominicana
I doubt there are more than 2-3 DR!ers who REALLY understand how a Central Bank works, and what the qualifications are to run one.

Th attract talent, one must pay a competitive salary.

P.S. John Galt is the man...
 

Mirador

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I doubt there are more than 2-3 DR!ers who REALLY understand how a Central Bank works, and what the qualifications are to run one.

Th attract talent, one must pay a competitive salary.

P.S. John Galt is the man...



Where is John Galt?...;-)


"There are thousands hacking at the branches of evil to the one chopping at the root" (Henry David Thoreau)
 

Texas Bill

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Feb 11, 2003
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www.texasbill.com
What is average, what is fair and what is crazy?

Rick:

These are very interesting reading for theaverage person.

People must realize, however, that the reason these Ministers, gov't. employees and thelike are in the gov't. is to siphon off as much as possible in their 4-year tenure.
It matters not which party they belong to, when they get in office, they continue what has been seen as "normal and expected" because it has been so always. For them to do less is to "loose face" with the public and be called fools for not taking advantage of their situation.
What you andI see as "corruption", nepotism, cronyism, etc. has been commonplace throughout Dominican History. It is a throwback to the "Baksheesh" and "Alms" system of the Islamic Caliphates time in Spain andhas been ingrained into the pschye of all Spanish Latin America. Some of it even rubbed off on Europe, since they also, along with the US practice such.
I'm not sure if there will ever be an "El Dorado" or a "Utopia" government-wise.
If it ever happens, we won't be here to see it.

Texas Bill
 

leo3131

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Sep 22, 2003
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what is the income of the people of the D.R.
what the in come of the police,doctor,lawyer, construction worker and teacher?
 

Rick Snyder

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Nov 19, 2003
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Leo and others,

When investigating wages here in the DR different figures come to the surface. The first link that I posted above shows a yearly wage of ?752-1,942? US dollars (+ -). In the calculations of yearly wages it is suggested that the figure be divided by 13 months as the DR pays their workers 13 months of wages each year (XMAS BONUS Called Regalia Pascual is 1/12 of 1 month's salary for each month worked). In the aforementioned figures it would indicate a Dominican making an average wage of (RD$ 24,816 ? 13 = 1,909 a month to 64,086 ? 13 = 4,929 a month.) If the calculations are made without taking into account the Regalia Pascual then those monthly wages are increased to RD$2,068 to 5,340 a month respectively. The fact that there are a lot of laws on the books concerning labor and wages can be indicated by this link. Also remember that this is for a six day work week.

It has been my experience that the average Dominican does fall within that range of from 2,000 to 5,000 pesos a month and in December they receive an additional months pay as the Regalia Pascual.

There have been other threads on this board in relation to wages that are paid to different professions.

If we are to use the higher figure of about 6,000 pesos a month as an average level of wages received here then it should be assumed that families here can and do live on that amount. Taking into account that this is the ?average? then it must be apparent that a person making 15,000 pesos a month or more would be considered pretty well off in comparison to the ?average?. Also remember that these aforementioned people may or may not own a house, land, car and other assets.

The DR has established within their system a program based on the US social security system in that employers are required to supply, as well as the employee, monies monthly to this system. This system was established as a means for the retirement of Dominicans to have a monthly income supplied by the government. The major problem with this system is the failure of employers to pay their money into the system. The largest culprits in this failure to pay seems to be the different departments within the government.

One of the recent scandals that has surfaced relates to the people that work for the JCE. One problem is in the fact that a lot of employees are of the same family and the availability of some of these people to collect a 66,000 peso per diem monthly above their monthly pay. This happened due to the ability of segments of the government having the ability to write their own laws to include that pertaining to wages and pensions without any controls implemented by any factor.

Also interesting is the 90 million pesos monthly that the state recently found going to illegal people that seem to be on the rolls of the retired military and police here. The fact that authorities are now saying that about 8,500 of said retirees don?t have a c?dula is strange in that the c?dula is a requirement when first employed.

And the list goes onnnnnnnnnnnnnnnn.

It seems to be apparent that the cases of corruption and the ability of entities to write what ever laws they wish all play an important role in the discrepancies within the wage system here. An average of 6,000 pesos monthly can?t even begin to compete with a person that, though may be considered average, is making 60,000 plus pesos a month.

Rick
 

Rick Snyder

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Nov 19, 2003
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And then we have this latest case of the PRD pointing the finger at the PLD and talking about wages. One accusing the other of being thieves????????????????

Rick
 

Mirador

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And then we have this latest case of the PRD pointing the finger at the PLD and talking about wages. One accusing the other of being thieves????????????????

Rick


Conversation overheard between Mr. Kettle and Mr. Pot....

Mr. Pot: Hey Kettle, how come you so black?

Mr. Kettle: Just wait! now you so nice and shinny, but once you in the fire as long as I have been, you gonna get black like me!
 

cobraboy

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When was the last time corruption wasn't the biggest electoral issue?
 

dv8

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Sep 27, 2006
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it happens anywhere, no? never seen a poor politician in my whole life... or a banker...
 

vince1956

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May 24, 2006
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Rejection of Dominican Government?s perks starts at the Electoral Court

SANTO DOMINGO.- The president of the Dominican Electoral Board (JCE) is convinced that the people don?t want for that court?s judges to receive the amount of the "questioned incentives," and for that reason has declined the perk of RD$66,000 per month (some US$2,000).

The move by JCE president Julio Cesar Casta?os sets the stage for far reaching consequences, because in many Government agencies the questioned perks -where even senior officials get paid overtime- have become the norm.

In a letter to the Plenary, the official affirms that "that pittance, implemented in previous administrations, lost its objective, because it has ended up de-motivating us."

He affirms that the incentives are rejected by a large part of the public opinion and have divided the members of the JCE.

With Casta?os 3 magistrates have so far refusing the extra pay, denounced as "fraud to the law" by Aura Celeste Fernandez, who was the first to decline receiving it. Arbitration Chamber president Mariano Rodriguez has also spoken out against the perk.