When you are looking for a job, one of your main concerns as an employee is whether you will be receiving a minimum wage. This is an important thing to consider thinking about especially when you are just starting to look for a job or you are trying to look for a new job. But come to think of it, there are people who choose to get any job they can get as long as they are paid for it.
They do not think about getting the minimum wage and whether they are getting the appropriate amount with what they have worked for. As one of the people who are fighting to get minimum wage, it is best that you know what the pros and cons are when you are receiving a minimum wage.
The Top 2 Pros of Minimum Wage
Here are some of the positive things that you can get once you are working for a particular place with a minimum wage:
1. Incentive for Low-Skilled Workers or Unemployed Workers
Since they know that there is a minimum wage, they will have the confidence that they can get the same salary just what like skilled workers get. Furthermore, they can think that they are able to receive more from what they have attained in life giving them the willing to work even harder.
2. Provides Financial Security to Employees
Even at the lowest point of the economy, employees can expect that they will be receiving the same salary without being affected of the main problem. This also secures employers that they will not have to spend more on salaries since they can make the part-timers as regular workers with the same minimum wage.
The Top 2 Cons of Minimum Wage
Given that there are benefits from minimum wage, there are also different advantages with this rule. Learning some of these like the following will give you an idea of what negative things it can give you.
1. Jobs Will Increase Slowly
Since employers are required to provide a minimum wage to all his or her employees, it is a rule that no one should receive less than that. This makes employers put a limit on the number of staff that they need and just hold to the existing staff that they have to control the expenses on salaries. In turn, slows the rise of job vacancies.
2. Not Implemented Consistently
Provided that there are some states that do not have minimum wage requirements or follows lower rates for the wage, there are still people who live under the poverty line even when they are employed.
Should the Minimum Wage be Increased or Changed?
When talking about minimum wage both employers and employees have different stand on it. Though it may be beneficial for employees, the rate may be a problem for employers. It is best that the minimum wage can be adjusted to rate that is convenient to both parts. But for the sake of the authorities, they can choose to think of other ways where both parties can benefit from the fixed rate.
