DBS CEO Tan Su Shan Cites S$9.64 Million Pay Gap in Politics Refusal
Tan Su Shan, DBS's chief executive, earned S$9.64 million in 2025, a figure sharply contrasting with Singapore's new S$1.8 million annual ministerial salary for entry-level roles as the government seeks private sector talent.
Tan Su Shan Rules Out Political Role
DBS Chief Executive Tan Su Shan has dismissed suggestions of entering Singaporean politics, stating she is "too old" at 57. Speaking at a Singapore Press Club fireside chat on 11 September, Ms Tan emphasised the need for diverse talent from both public and private sectors to enhance policy discussions.
She previously served as a Nominated Member of Parliament (NMP) from 2012 to 2014, after resigning from the ruling People's Action Party (PAP).
Compensation Gap Revealed
The discussion follows Prime Minister Lawrence Wong's recent parliamentary remarks on attracting private sector leaders to government. Mr Wong acknowledged the significant compensation disparity, noting that private sector remuneration often far exceeds starting ministerial salaries.
The Business Times Singapore reported Ms Tan's total compensation package for 2025 was S$9.64 million, covering her first nine months as DBS CEO and her earlier deputy CEO tenure. This compares with a new reference annual salary of S$1.8 million for an entry-level (MR4 grade) minister, up from S$1.1 million, as also reported by The Business Times Singapore.
Call for Diverse Industry Expertise
Ms Tan, who assumed the CEO role at DBS last year, underscored the importance of elevating the quality of policy debate in Singapore. She argued this requires attracting individuals with relevant industry experience. Ms Tan advocates for healthy, policy-focused discussions, free from personal attacks, believing that securing top talent is essential.
She noted private sector professionals often approach business and growth decisions differently from their public sector counterparts, which is vital for Singapore's continued relevance.
The ongoing debate over compensation and talent attraction highlights the competitive landscape for senior leadership in Singapore. Companies across Asia, particularly those seeking to engage with policy-making or facing talent shortages, may see increased competition for experienced professionals.
The government's push to attract private sector expertise, despite the pay gap, suggests a continued focus on integrating business acumen into national strategy. This could influence executive mobility and remuneration expectations within the region's financial and corporate sectors.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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