Wage wage

Just Wage
Just Wage
Just Wage

Reporters: Zephaniah Shayanne Misajon & eMyrhyne Floresca

 Wage definition

Definition
WAGE
- A xed regular payment, typically paid on a daily or
weekly basis, made by an employer to an employee,
especially to a manual or unskilled worker.

SALARY
- A xed regular payment, typically paid on a monthly or
Types of Wages biweekly basis but often expressed as an annual sum,
made by an employer to an employee, especially a
professional or white-collar worker.

COMPENSATION
– it includes wage, and all other
Just Wage allowances and bene ts
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 Wage Types of wages

Types of Wages
Real Wage

Nominal Wage

Just Wage family Wage

Living Wage

Ways Employees are not

Properly Compensated
Minimum Wage

 Wage Just wage

Just Wage
Just Wage

- A justi ed wage refers to an income level determined by market

dynamics, work experience, education, and skill.
Ways Employees are not
Properly Compensated
- The remuneration which is enough to support the wage-earner in
reasonable and frugal comfort.

- "a just wage is the legitimate fruit of labor"

Factors
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 Wage WAYS EMPLOYEES ARE NOT PROPERLY COMPENSATED

Ways Employees are not

Properly Compensated

WAYS EMPLOYEES ARE NOT

PROPERLY COMPENSATED
- Employers sometimes pay less than the required minimum
wage.
Factors
- Employers require employees to report fewer hours than
they actually work.

- Employers incorrectly classify and pay them a straight

salary no matter how many hours they work.

Common Issues

 Wage Factors

Factors
FACTORS TO CONSIDER IN
THE FORMULATION OF
JUST WAGE

- External Market Factors

Common Issues - Laws and Regulations (RA 6727)

- Cost of Living

- Prevailing  Industry Rate

- Organizational Factors

- Job Factors
Different Agencies
- Individual Performance

 Wage common issues

Common Issues
Common Issues on Wages

The minimum wage mandated by the government is not a guarantee of a just and
fair wage.

Organizations and businesses usually conclude that they are legally and morally
right when they ful ll their 'mutual agreement' with the employees.

Geographic differences hinder the formulation of a perfectly common de nition of

Different Agencies fair wage.

Wage indexation to cost of living, where wage is automatically adjusted with the
increases of cost of living, is not usually met by majority of the employers.

Companies have different interpretations of the justi able pay for certain job
positions, skills and tasks.

The Law of Supply and Demand on labor

In ation Rate
Common Issues
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 Wage different agencies

DIFFERENT AGENCIES SAY

Different Agencies
ON THE ISSUES OF JUST WAGE
- Everyone has the right to work, to free choice of
employment, to just and favourable conditions
Universal of work and to protection against
Declaration of
Human Rights unemployment. Everyone, without any
discrimination, has the right to equal pay for
equal work.

- Fair wages and equal remuneration for work of

Sources International equal value without distinction of any kind, in
Convention on
Economic, Social, and particular women being guaranteed conditions
Cultural Rights of work not inferior to those enjoyed by men,
with equal pay for equal work

- Pope John Paul II offered a detailed assessment

of constitutes just compensation, declaring that
Pope John Paul workers have "fundamental rights" to health-
II
care insurance, suitable working conditions and
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rest periods.

 Wage sources

Sources

https://www.ilo.org/global/topics/wages/minimum-wages/rates/
WCMS_432669/lang--en/index.htm

https://www.investopedia.com/terms/j/justi ed-wage.asp

https://prezi.com/vqorvw_a8ure/the-problem-of-just-wage/
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https://courses.lumenlearning.com/boundless-economics/chapter/
labor-market-equilibrium-and-wage-determinants/

https://www.imf.org/external/pubs/ft/wp/2001/wp0150.pdf

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Wage end!

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…
Thank You
and have a good day!