Temasek's employees cost an average of 52million EACH

I am shocked at this revelation

http://www.baldingsworld.com/2012/10/03/...-employee/

"Even though Goldman Sachs manages $762 billion USD more than Temasek while employing 31,900 more people its non-financial operating costs are only 34% higher. To put this in perspective, the average operating cost of employing someone at Goldman Sachs is $864,181 SGD. The average operating cost of employing those 400 employees at Temasek: $52,141,276 per employee! It is 60 times more expensive to employ someone at Temasek Holdings than Goldman Sachs and 94 times more expensive than Morgan Stanley. "

if I am not wrong, I think the expense of Singtel or any other company Temasek owns more than 50%, will be added into its financial statement as expense.

But temasek employees do not count employees of Singtel or any other company of Temasek.

I guess that's why Temasek only hires the most premium cream of the crop scholars to join their privileged ranks!

By the fact that the staff employed having a difference in order of 2, there should be further scrutinized before any conclusion.

I don't believe 400 persons can do 31,900 persons' job, with the job's scope having similar order.

I suck in accounting but it is obviously wrong to attribute cost of employment totally with Selling & Distribution, Administrative, and Other Operating Expenses.

By using the author's method, 400 Temasek staffs generate S$85,548,000,000 of revenue.
So each staff generates S$213million of revenue.

How about Goldman?
They only generates US$28,811,000,000 of revenue and with 32300 staffs, each staff only generates $891981 of revenue.

So, for Temasek, average cost per staff/average revenue per staff = 24%.
Goldman is 96%.

Seriously, I think Temasek staffs are underpaid.

Balding is an idiot. His methods are suspect and his conclusions are ridiculous...Read his stuff only if you are looking for entertainment.

(03-10-2012, 01:42 PM)propertyinvestor Wrote: I am shocked at this revelation

http://www.baldingsworld.com/2012/10/03/...-employee/

"Even though Goldman Sachs manages $762 billion USD more than Temasek while employing 31,900 more people its non-financial operating costs are only 34% higher. To put this in perspective, the average operating cost of employing someone at Goldman Sachs is $864,181 SGD. The average operating cost of employing those 400 employees at Temasek: $52,141,276 per employee! It is 60 times more expensive to employ someone at Temasek Holdings than Goldman Sachs and 94 times more expensive than Morgan Stanley. "

this isn't a fair comparison. many of the TLCs financials are consolidated into Temasek's accounts.

if you want a fair comparison, then you should add the headcount of all the TLCs that are consolidated onto Temasek's balance sheet.

One mustn't not forget goldman is investing their own as well as client's money they grew their own money the hard way for investing. One also musn't forget for almost 200 years they operated under the curtain due to anti-semitism when many doors where closed to them and many people shunned Jewish bankers so to be able to do that and come out number 1 that really is a big achievement.

Come to think of it Temasek got a free pass and easy ride using cpf money which they borrowed cheaply try borrowing at international rates.

(03-10-2012, 03:32 PM)sgd Wrote: One mustn't not forget goldman is investing their own as well as client's money they grew their own money the hard way for investing. One also musn't forget for almost 200 years they operated under the curtain due to anti-semitism when many doors where closed to them and many people shunned Jewish bankers so to be able to do that and come out number 1 that really is a big achievement.

Come to think of it Temasek got a free pass and easy ride using cpf money which they borrowed cheaply try borrowing at international rates.

I respect the glory history of Goldman Sachs, and I will not dispute the nature of Temasek setup.

Both of their performance still base on current achievement. The investments are un-aware of the glory history of their owner and performace differently.

(03-10-2012, 03:09 PM)HitandRun Wrote: Balding is an idiot. His methods are suspect and his conclusions are ridiculous...Read his stuff only if you are looking for entertainment.

Temasek's investment records of huge losses are well known. Balding's entertainment probably reveals more hard truths which some find them hard to accept.