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Comment by XorNot | Hacker News Reader

I do wonder what the long term outlook on that is. Politician is an extremely unstable job, so that $210k base for a job you might only have for four years (and then not exactly drop out into a lucrative field like IT) probably doesn't feel like a lot.

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They get pensions too. Those things most people used to get.

The idea is that sets them up because going back to working as a butcher or something would be a bit weird after being a national public figure. The reality is they do speaking engagements and join boards as well, raking it in.

https://www.crikey.com.au/2019/09/02/australian-mps-pay-afte...

Apparently it was changed so it's not quite as generous now, maybe someone can decode and summarise the current rules.

As the article says, pensions proper only apply to MPs elected before 2004. Now it's a superannuation scheme.

All former UK prime ministers are entitled to an allowance of up to £115,000 a year to cover the costs of their ongoing public engagements. This can continue for decades. In the first 10 years after Tony Blair left office, he collected £1,077,888 which is quite close to the maximum.

In addition, former prime ministers can still remain members of Parliament if they get re-elected for that role, as is the case with Theresa May.

It's not like these people just pop in to be the prime minister of Australia for a brief four years then go back to pulling coffee shots at their low paying hospitallity jobs.

The overwhelming majority of Australian politicians are career bureaucrats of one form or another.

It'll take me five years of 60 hour weeks in a noise dirty dangerous environment to earn what the PM makes in a year.

For most people, $400k in the bank feels like a lot, and that's assuming you aren't also milking travel allowance, food allowance, Comcar, etc.

Also our pollies get a very generous superannuation contribution of 12% of their salary.

They're set for life as long as they understand money.

drop out into a lucrative field

Paid speaking engagements appear to be fairly lucrative for former politicians.

Sure provided you greased the right palms when you were in office and towed the right lines.

That's what the higher salaries supposedly avoid, you are less beholden to moneyed interests. I think the reality is that people often get accustomed to money and seek more of it unless there is a true downside.

Singapore has a very similar mindset on political salaries, and they are much higher even than the Australian PM. But as an outsider with one foot in due to family, it seems that they are culturally very anti-corruption after living near their neighbours which makes it work better.

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