Minimum wage for educated to rise faster
The percentage over the minimum wage which the state requires businesses to pay employees with a secondary school diploma or a higher degree will rise incrementally from the start of July, under amendments made last year to the Labor Act.
From July, job-starters with secondary school diplomas or higher degrees must be paid at least 105% of the monthly minimum wage, or Ft 67,500. Those with two years of work experience must be paid at least 110% of the minimum wage, or Ft 68,800.
In 2007, diploma- and degree-holding employees will have to be paid 110% of the new minimum wage (Ft 72,100) if they have fewer than two years of experience on the job market and 115% of the minimum wage (Ft 75,400) if they have more experience. In 2008, job-starters will receive at least 120% of the minimum wage (Ft 82,800), with experienced employees receiving at least 125% (Ft 86,300).
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