The salary is the monetary remuneration that a person receives, generally at the end of the month or at the beginning of the same, or failing that, weekly or biweekly, for the work they perform.
This salary is previously agreed by the worker and his employer, and under the corresponding conditions, it will be signed in a labor contract.
There are several distinctions regarding wages, this time we will take care of explaining the concept of the minimum wage and its scope.
Minimum remuneration that is agreed by law and that as such marks a parameter being that no worker may receive less than what it indicates
The minimum wage is the sum agreed by law that must be paid as a minimum to all workers who are active.
In other words, this is the minimum amount that can be paid to any worker in activity and in a dependent relationship for the services he provides to his employer, as we said, is established by the law of each nation and would be a fault and clear violation of the law will pay an employee less than that.
We could say that the amount of the minimum wage that is normally discussed by the government, employers and union representatives and workers, is closely related to the basic food basket, that is, with the minimum amount of money that a family you need to be able to meet your basic needs.
For example, this is so important and it is vital that it is established by law so that it is observed and respected accordingly.
Origins in Australia
The first time that minimum wage was discussed was in the century XIX, in Australia and New Zealand, where it was formally established at the same.
At that time, this proposal was intended to prevent employers from abusing their needs and then paying them below what they deserve to receive.
Around 1890 a group of Australian workers began to develop protests as a consequence that they felt that they were being abused and not receiving their fair share.
This cornerstone of the protests in Australia was transferred to other parts of the world and they were very important for the same legislation to be adapted to other countries.
Generally, the minimum wage is expressed in monetary units per working day, that is, the minimum payment for an employee's hour of work will be five pesos, dollars, among others.
In any case, each country establishes its own rules to regulate this issue.
Both the benefits that it reports and the costs that come from it are recurrently the subject of debate by businessmen, unions and the government.
Consider the cost of living for your determination
According to inflation rates, the cost of living, among other issues, the unions will guide their discussions and demands on it.
Because it is not the same to establish a minimum wage in a flourishing economy, which grows and in which inflation does not exist, while another totally different scenario will bring us that economy in which, for example, there is hyper inflation.
For example, in Argentina, which is currently going through a situation of very high inflation, the finance minister announced for this year an annual 42%, this salary should be updated according to the level of inflation.
For this year 2016, the government, businessmen and unions agreed to an increase in it in three stages, reaching $ 8,060 in January 2017.
Advantages and benefits
Meanwhile and with regard to this issue, there are those who speak of positive consequences and others of the negative consequences of the minimum wage.
Regarding the positive ones, the following are indicated: reduction of poorly paid work, reduction of dependence on those who receive low wages, increase in productivity; and on the negative side we find the following: increase in unemployment for those who receive low salaries, since higher salaries will imply more costs and therefore can encourage the reduction of jobs, increase in underemployment, especially in those places where there is no unemployment insurance and an increase in the prices of goods and basic services.
