Is there a minimum wage in spain

Minimum wage in spain 2020

This is the SMI in 2021. After the recent proposal of the Ministry of Labor, the Minimum Interprofessional Wage rises to 965 €. After weeks of intense debate, the announced increase finally materializes, published in Royal Decree 817/2021.

As a result, the Minimum Interprofessional Wage for 2021 has been limited to extending the amounts of 2020. However, the regulation left open the possibility of an increase as soon as the situation improves.

Temporary and seasonal workers who render their services in a company for a duration of less than 120 days will receive, together with the SMI, the proportional part of the remuneration for Sundays and holidays, as well as the two extraordinary payments.

In order to assess whether or not the allowances or bonuses can be compensated, it is essential to review what is indicated in the Collective Bargaining Agreement, since there are some that establish which concepts cannot be compensated.

Average salary spain

The minimum remuneration, minimum wage or minimum salary, is the minimum amount of money paid to a worker in a given country and through an officially established law, for a given work period (hour, day or month), that employers must pay their workers for their labor.

The minimum wage, in real terms, is susceptible to the exchange rate, because during currency devaluations wages lose purchasing power, and inflation. Many times, increases in the minimum wage seek to reestablish the same purchasing power that existed before a devaluation or inflationary period.

First of all, it is worth clarifying that there is significant diversity in the scope, incidence and levels of minimum wage between countries, although the target population is usually the same. They tend to be low-skilled workers, mostly young people and women, part-time workers or employees in the commerce, restaurant and hotel sectors.

Minimum wage in the united states

Women earn less than men, with women’s wages representing 76.1% of men’s. This difference is reduced when taking into account similar situations with respect to variables such as occupation, working hours or type of contract.  This difference is reduced if similar situations are taken into account with respect to variables such as occupation, working day or type of contract.

In 2012, the proportion of workers receiving remuneration equal to or lower than the SMI was 12.3%. If the comparison is made by sex, this situation affects 17.4% of women and 7.5% of men. If only the group of full-time workers is analyzed, in 2012 the proportion of those receiving remuneration equal to or below the SMI is 1.5%.

In 2011 the highest values of average annual gross earnings of full-time employees in companies with 10 or more employees were in Denmark (€60,002), Luxembourg (€50,545), the Netherlands (€46,287) and Belgium (€46,636).

On the other hand, the lowest average gross annual earnings were recorded in Bulgaria (€4,668), followed by Romania (€6,146), Lithuania (€7,425), Latvia (€8,923) and Poland (€9,702).

Minimum wage europe

There are many workers who, instead of receiving 14 payments -the ordinary and two extraordinary ones-, receive their salary in 12 payments, with the extraordinary ones prorated. In this case, the monthly salary would be 1,125 euros gross. As a reference, the annual SMI for a full-time worker should reach 13,510 euros.

Two groups have a specific SMI. Temporary and seasonal workers, whose minimum wage reaches 45.70 euros gross per day, and domestic workers, in external regime, with an SMI of 7.55 euros gross per hour from now on.

Yes, but always depending on how many hours are worked. The first thing to remember is that the minimum amount of 965 euros per month is gross, so the worker will receive less money, since the net salary will be somewhat lower once social security contributions are deducted.

Secondly, the 965 euros per month are referenced to a full working day, so if a person works fewer hours, he or she will receive less. Specifically, the proportional part of the salary for the hours worked.