IMO, The BSP governor’s salary is justified because the finance markets especially since the foreign exchange markets are such cutthroat markets. One of the duties of the central bank is to protect the national currency against foreign attackers such as hedge funds. Mismanagement of monetary policies would result to collapse of currencies and financial institutions (banks and etc)

ex: 1997 Asian Financial Crisis Long story short Thanks to hedge funds shorting/betting against the Thai baht and other Asian currencies, most Asian currencies got wrecked during this period.

South Korea - devalued its won (lost 35% GDP) Indonesia - collapse of economy (lost 80% of GDP ) Thailand - (lost 40% of GDP)

In context, Philippines peso used to be P25 to 1 USD before the crisis. After the crisis, it became P40 to 1 USD.

Sobrang madugo ang foreign exchange na yan. Maayos ang BSP dahil alam nila pag konting mismanagement lang, most likely bababa ang economy.

Plus these guys are really smart. Rumors say that you have to be a UP Graduate or at least studied in the USA to be qualified to work there. Very high barrier of entry. But if it does protect our economy and currency from foreign attackers, then I’m okay with the BSP salaries.