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Nairaland Forum / Nairaland / General / Career / How Will The New Minimum Wage Affect My Current Salary? (34084 Views)
How Much Is Your Current Salary? / Has Any Federal Civil Servant Received The New Minimum Wage? / Does New Minimum Wage Affect All Salary Earners? (2) (3) (4)
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Re: How Will The New Minimum Wage Affect My Current Salary? by Fhemmmy: 8:47pm On Oct 11, 2019 |
The effect to your salary will be: Nothing on your salary, will remain what it is It means cost of living for you will go up It means you will need more to afford more |
Re: How Will The New Minimum Wage Affect My Current Salary? by byesense105: 8:50pm On Oct 11, 2019 |
I am so sorry my friend for the response of our brothers and sisters, it is quite unfortunate people would rather speak ill than just walk away from a conversation they are not conversant with. Let me see if i can help you. sorry it might be lengthy; 1. Salary review and minimum wage are two different things, although they are carried out simultaneously 2. Minimum wage is the minimum a worker must be paid according to the law. Government is suppose to review the minimum wage every 5years taking into consideration inflation, cost of living,etc 3. Therefore, as you increase the minimum wage, you must review the salary of those who earn above the minimum wage, otherwise, you will be cheating them 4. What the government has signed into law is a 'minimum wage' of 30,000 naira. A 66.7% increment from the initial 18,000. 5. That doesn't mean workers like you get 66.7 % increment, because you earn way above the minimum wage. 6. What government and labour is now haggling is what percentage people like you will earn. 7. The increment is not always the same across board... Take below for example; Level 8 - Level 10 = 20% Level 11 - Level 14 = 15% Level 15 Level 17 = 10% Note: These are estimates, they are not the actual figures. What the government has confirmed as of today is; Level 1 - Level 7 = 66.7% And i understand this is being paid already 8 Therefore, if it goes just as presumed above, you will get an increment of 20% which amounts to 145,200 per month, taking into consideration your current pay. 9. Situation as at today; government has started paying level 1 - level 7 an increment of 66.7%,, but labour and government are yet to decide on what percentage those above level 7 will earn. 10. The next meeting is to hold on the 15th of october, and if there is no resolution, Labour has vowed to embark on a strike from the 17th of october I hope you will find this helpful and i hope u guys get a reasonable increment...... All the best cashcity: 16 Likes 3 Shares |
Re: How Will The New Minimum Wage Affect My Current Salary? by don89(m): 8:51pm On Oct 11, 2019 |
[quote author=dalongjnr post=83052787]OK,what was the percentage increased on the last MW? which is something like New-old wage 30-18=12 12/30(incremental difference ÷ the proclamation new wage)=0.4×100= 40%(the new percentile increment). 40/100% ×121,000=approx 48,000 The new wage will be something like 121,000+48,400~=170,000. NB; depending on the parameters utilized for the calculation eg,basic salary(excluded other allowances), or gross/cumulative salary excluding PAYE, Union dues,mortgage bank deduction (housing scheme)...... For now,that's the little I can give you. But there are various formulas for the calculation and variables been considered. I stand to be corrected but will give the actual formulas later. [But they are proposing 9% for level 7 to 14] |
Re: How Will The New Minimum Wage Affect My Current Salary? by madprophet(m): 8:53pm On Oct 11, 2019 |
seunmsg: Even the parastatal self must be one of the correct ones. Though ones to enter. Cos regular ministry Level 8 is like 60k now |
Re: How Will The New Minimum Wage Affect My Current Salary? by SenecaTheYonger: 8:56pm On Oct 11, 2019 |
too little? adez2016: |
Re: How Will The New Minimum Wage Affect My Current Salary? by dave4rella(m): 8:59pm On Oct 11, 2019 |
[quote author=Gforce2015 post=83053393] Eranko Ni e. O Ni kuure[/quot Anumanu wunu awu |
Re: How Will The New Minimum Wage Affect My Current Salary? by don89(m): 9:00pm On Oct 11, 2019 |
Govt says 9.5%/ for level 7 to 12 ,so add 9% of your salary to your present salary .That's all . |
Re: How Will The New Minimum Wage Affect My Current Salary? by dalongjnr: 9:12pm On Oct 11, 2019 |
[quote author=don89 post=83055687][/quote] Negotiations are in progress, labour is holding to 29% increment. But, you know negotiate is an art,let's cross our fingers. Let's assume they settled for 9%, then that's the 9/40 × 100=22.5% of the supposed 40% increment of the agreed minimum wage. But if they can pull 18-21 of 40% then the guys know their work well. For now labor is holding to 29% |
Re: How Will The New Minimum Wage Affect My Current Salary? by maynation(f): 9:18pm On Oct 11, 2019 |
rottennaija: How much do you think we level 8 workers are being paid then? Opono ayerada. |
Re: How Will The New Minimum Wage Affect My Current Salary? by rottennaija(m): 9:20pm On Oct 11, 2019 |
maynation: Between 50k and 60k |
Re: How Will The New Minimum Wage Affect My Current Salary? by maynation(f): 9:23pm On Oct 11, 2019 |
rottennaija: You are sick. Where I work, LEVEL 7 EARNS 67K. BSC LEVEL 8 EARNS 121 K. Stop saying what you don't know. 3 Likes |
Re: How Will The New Minimum Wage Affect My Current Salary? by maynation(f): 9:26pm On Oct 11, 2019 |
respect80: Why do you people like posting trash and what you have no idea of? I swear before man and God, I am level 8 and my take home is 121k. In one if the ministries you listed there. I don't have to reveal much. 2 Likes |
Re: How Will The New Minimum Wage Affect My Current Salary? by Nobody: 9:28pm On Oct 11, 2019 |
Ministry work no be am at all. Either u get work in a parastatal or agency or u go and hustle |
Re: How Will The New Minimum Wage Affect My Current Salary? by maynation(f): 9:28pm On Oct 11, 2019 |
. |
Re: How Will The New Minimum Wage Affect My Current Salary? by ibechris(m): 9:32pm On Oct 11, 2019 |
U are not a govt officer,how can u be working in ministry agency...?u are a born liar. And to cap it all,no individual in any parastatal or agency will be given minimum wage because by general estimation,they are already earning the proposed minimum wage. |
Re: How Will The New Minimum Wage Affect My Current Salary? by rottennaija(m): 9:35pm On Oct 11, 2019 |
maynation: My first salary for level 8step 3 was 53k. |
Re: How Will The New Minimum Wage Affect My Current Salary? by maynation(f): 9:36pm On Oct 11, 2019 |
rottennaija:well it could be state appointment and not a federal appointment. 2 Likes |
Re: How Will The New Minimum Wage Affect My Current Salary? by Rajosh(m): 9:49pm On Oct 11, 2019 |
rottennaija:Ministry of interior 2 Likes |
Re: How Will The New Minimum Wage Affect My Current Salary? by Okoroawusa: 9:49pm On Oct 11, 2019 |
byesense105: You no chop your school fees. I was reading comments n I was shaking my head. Some were talking about VAT not knowing that VAT is a consumption tax 1 Like |
Re: How Will The New Minimum Wage Affect My Current Salary? by Nsarug80: 9:56pm On Oct 11, 2019 |
Slimkkkk:NIMASA is under the Ministry of Transportation, CBN is under the Ministry of Finance, NDDC is under the Ministry of Niger Delta Affairs etc. Therefore, the OP is right. 1 Like |
Re: How Will The New Minimum Wage Affect My Current Salary? by HabaHaba: 9:58pm On Oct 11, 2019 |
NotNairalandi: |
Re: How Will The New Minimum Wage Affect My Current Salary? by Donpenny(m): 10:00pm On Oct 11, 2019 |
respect80:pls don't get this twisted. If I may ask are you working with any of the agencies under ministry of interior? |
Re: How Will The New Minimum Wage Affect My Current Salary? by millionboi2: 10:16pm On Oct 11, 2019 |
Re: How Will The New Minimum Wage Affect My Current Salary? by Amustical(m): 10:19pm On Oct 11, 2019 |
What a life, on level 8 lagos state with salary less than 60k |
Re: How Will The New Minimum Wage Affect My Current Salary? by Idaytesj29(m): 10:23pm On Oct 11, 2019 |
ibechris: How can they be earning it when its a proposed pay? |
Re: How Will The New Minimum Wage Affect My Current Salary? by mechanics(m): 10:23pm On Oct 11, 2019 |
The difference won't be more than #10,000. |
Re: How Will The New Minimum Wage Affect My Current Salary? by respect80(m): 10:30pm On Oct 11, 2019 |
maynation: What do you mean by trash? If you wish to make a point, you are very much free to make your point without necessarily making use of vulgar language in your reply. I'm rather much surprised that someone in your degree of mental capacity could still lack common social interracial knowledge... Be a little more polite when you interact with people especially when their opinion does not affect you directly. If you are sure of what you said, I could still review the source of my information and use the info you gave as a reference point. Cheers 2 Likes |
Re: How Will The New Minimum Wage Affect My Current Salary? by bluefilm: 10:37pm On Oct 11, 2019 |
UcLloyd: 11% is even too much. The problem will salary increment is the corresponding increase in the prices of goods and services that will surely make nonsense of the increased wages. Thus, rather than fighting for wage increment, I'd rather these labor unions fight for standardized and effective price control. 1 Like |
Re: How Will The New Minimum Wage Affect My Current Salary? by respect80(m): 10:42pm On Oct 11, 2019 |
Donpenny: What exactly is being twisted here, or you're just being enthusiastic to use that English? BTW, I don't work in any of those agencies but don't forget it's not everyone who eats mango that goes under a mango tree. Remember I said I have never seen, or at least those I have met in that category have confirmed to be earning below 120k so if you have seen or work there and earn up to 120k as a level 8 step 2, feel free to share your thoughts pls. Don't make it look like we're here to compete on social or employment status |
Re: How Will The New Minimum Wage Affect My Current Salary? by Legendguru: 10:44pm On Oct 11, 2019 |
Oh |
Re: How Will The New Minimum Wage Affect My Current Salary? by Olumyyde(m): 10:57pm On Oct 11, 2019 |
maynation:U don't have to swear, we in d federal agencies know these things. No need to talk much. |
Re: How Will The New Minimum Wage Affect My Current Salary? by Philinho(m): 11:11pm On Oct 11, 2019 |
Slimkkkk:He's right if he's working with any of d security agencies under d ministry of interior.my take |
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