How Much Does a Job Pay?

The amount of money that a job pays depends on the type of work you do, your employer, your years of experience, and where you are located. However, there is a minimum amount of money a job must pay that is guaranteed by the government.


How Much Does a Job Pay

Minimum Wage

Minimum wage is the lowest wage that an industry or other organization is legally permitted to pay a worker. This amount differs for each state with the exception of Alabama, Mississippi, Tennessee, South Carolina, and Louisiana, which do not have any state minimum wage laws [1].

The Fair Labor Standards Act is responsible for setting the federal minimum wage for the United States. It is currently at $7.25 per hour – an amount that is revised accordingly to make up for inflation and other economic changes. Also, the majority of states in the United States may have their own minimum wage standards that reach up to $8.55 per hour (in Washington).

There are some exceptions to minimum wage in certain states. For example, workers that earn tips are subjected to a lower base standard.

Salaries

If you are not paid an hourly rate, then you are paid a salary for your job. Salaries vary for each type of job and are also based on outside factors, including experience and place of employment. To find the average salary for a job, conduct a search on Salary.com [2].

Sources:

[1] http://www.dol.gov/whd/minwage/america.htm

[2] http://salary.com

No comments yet.

Leave a Reply