Sunday, February 01, 2009

Obama's Total Pay Package & Benefits

What is Obama's pay package? Of course the cynical would lump in all the benefits, allowances, additional manpower linked to his position. The gross sums include:

Cash Compensation:
Salary: $400,000

Cash Subtotal: $400,000

Room and Board:
55,000 square foot mansion, in historic Washington, D.C.: @ $100/sqft: $5,500,000/yr
Personal Chef / Kitchen Staff: $300,000 / year
Other Servants / Attendants: $500,000 / year

Subtotal: $6,300,000

Discretionary Use Of Private Aircraft:
(One of 2 Boeing 747-200Bs "Air Force One"):
Annual Costs: 700 hours @ $65,000/hr: $45,500,000

Helicopter Fleet:
Annual Costs: 50 hours @ $5200/hr: $260,000

Aircraft Subtotal: $45,760,000

Other Personnel:
Personal Driver On Retainer (Defensive Tactical Driving Trained) @ $300/day $109,500
Personal Body Guards 35 @ $500/day $6,387,500
Use Of Personal Car 60 days @ $2000/day $120,000

Personnel Subtotal: $6,617,000

Annual Benefits Total: $59,077,000

Four Years of Same: $236,308,000

Pension And Related Benefits:
Present value of Pension Benefits ($200,000 per year): $2,251,556

Total Benefits: $238,559,556

Average Annual Pay Package Plus Benefits / Incidentals / Related Expenses: $59,639,889

Well, to be fair, Obama's pay package should be calculated as his pay, which stands at $400,000 a year for 4 years = $1.6m. He also has an annual pension after that of $200,000 per year, you don't want an ex-President living in poverty, do you!? All the other related and incidentals are necessary for him to do his job, hence should not be calculated as his pay package or benefits.

But as we all know ex-Presidents will make their big bucks AFTER he leaves office (with the possible exception of George W Bush, I mean, seriously, who wants to hear him talk, or read his memoirs???) - the speaking engagements and book deals will ensure an annual salary of at least $1.0m a year easy for the first 5 years after office. Currently Bill Clinton charges about $100,000 per speaking engagement (plus you have to foot all his miscellaneous costs, cigars not included).

p/s photos: Pevita Pearce


mustakim said...

president obama compensation 400k
singapore pm compensation 3.04 million.

singapore can do.....

easystar said...

The cost of maintaing Obama cost about the same as the entire Singapore cabinet. 700 hours only on Airforce 1? A single trip to China would be 40hours to and forth plus wait time etc. Plus other members of the Obama cabinet, on a per capita basis, probably cost a total of half of Singapore's cabinet.

Chairman Mao and Stalin probably cost even more. (I would imagine Stalin's security cost would be astronomous). Mugabe probably get about a few hundred millions USD effectively a year and yet his people are starving. Malaysian politician total annual income is unlikely to a small sum either. (How much did that guy nearly got for the helicopter contract? Please remind me)

Singapore's cabinet isn't cheap, and can certainly live on less pay, but it is not out of the world although it make good passtime criticizing Singapore's government salary.

Savatoire.. no one want to hear Bush talking? You might be surprised... Tony Blair seemed to be making good money talking despite his disastrous records. I am sure Brown after crashing the UK economy, would live a comfortable live giving after dinner talks.

Ex Starians said...

You have to calculate what is his expenses to do the campagning to become a president?


see said...

How do you quantify the risk of assassination? Maybe the cost of secret service as insurance he might have to pay? think thats a sizeable amount

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