Well no, it means you value their skillset at less than or equal to minimum wage, but since you can’t actually hit the “true” value, you end up at minimum wage.

Well no, it means you value their skillset at less than or equal to minimum wage, but since you can’t actually hit the “true” value, you end up at minimum wage. Of course, they still have to bring at least that much in value to the business for the hire to be worth doing in the first place. And obviously increasing the minimum pay also means increasing the minimum value extracted