4 ms·

> Remember that the minimum wage here is around USD 200 Q: 200 USD over what time period?

by jxf 4y ago

giovannibonetti 4y ago
Probably monthly
timbit42 4y ago
Maybe meant $2.00 USD per hour?
- kragen 4y ago
  No, Argentine wages are given per month, not per hour.
  - xeromal 4y ago
    Are they paid per month as well? I've always thought that is an ideal way to receive wages. Pay all bills due for the month and live off the rest.
    - kragen 4y ago
      They are, but typically wages are paid after working, rather than beforehand. So paying wages monthly rather than, for example, twice a month, amounts to an interest-free loan of two weeks' worth of wages by the employee to their employer, which to me seems unjust. (Thus the Biblical injunction to pay your workers before their sweat has dried.) This interest-free loan is particularly galling when we're experiencing 6% inflation per month, so your wages are worth 3% less when you get them.
      - xeromal 4y ago
        Who gets paid before working? I haven't seen that at least here in the states I've worked in the US. Usually you work to the pay period and receive the prorated amount of days you worked. Sometimes you even have to work for two pay periods which can equate to misery if you haven't saved up. lol. Edit: I reread your comment and understand now! Sorry about that.
        kragen 4y ago
        Employees in good bargaining positions frequently receive signing bonuses, so they do get paid before working. Those aren't the people taking minimum-wage jobs.
        projektfu 4y ago
        Attorneys... (I kid, I kid... Obviously attorneys on payroll do not get paid up front, just indy attorneys on retainer).
        standardUser 4y ago
        "Who gets paid before working?" We are often expected to pay companies either ahead of time or on-demand when purchasing goods and services. When we sell our labor, we generally are forced to accept a payment scheme designed by our employer that results in us getting paid much later, with the employer holding our money in the meantime.
        tyingq 4y ago
        Companies that force "net payment terms" on their vendors are also an interesting setup. Some of them force crazy terms like "Net 90"...90 days after an invoice that can only be submitted once a month. So they are taking labor and paying out sometimes 120 days later.
      - deleted 4y ago
        [deleted]
      - standardUser 4y ago
        You make some really good points. In fact, in any system that valued people over companies, you'd expect people to be paid for their services on demand, if not ahead of time.
        kragen 4y ago
        Employers have more power than employees in the employer-employee relationship, so they can extract concessions like this.
boomchinolo78 4y ago
It's monthly for sure
RussianCow 4y ago
They meant monthly, though it's not quite that low. According to Reuters[0], the national minimum wage as of this month is 45,540 (around 368 USD), and it will be increased again in August. [0]: https://www.reuters.com/world/americas/argentina-accelerates-hike-minimum-wage-2022-05-10/ https://www.reuters.com/world/americas/argentina-accelerates...
- yazantapuz 4y ago
  That's because the article uses the "oficial" usd exchange rate (~130 argentine pesos per dollar) that don't includes taxes. With taxes its ~200 per dollar. So, the minimun wage Is ~220
- kragen 4y ago
  Reuters is using the fraudulent official exchange rate, not the real exchange rate, which is currently $216-$220 per US$. So if you take your monthly minimum-wage salary and convert it into dollars you will get about US$200, not US$368. You need government authorization to buy (a small amount of) dollars at the official rate, and there's a government policy to reserve dollars for rich people, so if you're working a minimum-wage job you won't get that authorization. If you're changing a larger amount of money at the free-market rate you can get as much as US$207 for each $45540.
  - yeahsure 4y ago
    I live in Argentina and this is correct. The (fake) official exchange rate is used by the government and media to paint a better picture of the terrible situation that we're in, it should not be used nor trusted anywhere to make any calculations on the cost of living, inflation, salaries nor anything else.
    - kragen 4y ago
      I wonder why Reuters made this error—pure ignorance, or are they trying to curry favor with Fernández?

> Remember that the minimum wage here is around USD 200 Q: 200 USD over what time period?

by jxf 4y ago

> Remember that the minimum wage here is around USD 200 Q: 200 USD over what time period?

giovannibonetti 4y ago

Probably monthly

timbit42 4y ago

Maybe meant $2.00 USD per hour?

kragen 4y ago
No, Argentine wages are given per month, not per hour.
- xeromal 4y ago
  Are they paid per month as well? I've always thought that is an ideal way to receive wages. Pay all bills due for the month and live off the rest.
  - kragen 4y ago
    They are, but typically wages are paid after working, rather than beforehand. So paying wages monthly rather than, for example, twice a month, amounts to an interest-free loan of two weeks' worth of wages by the employee to their employer, which to me seems unjust. (Thus the Biblical injunction to pay your workers before their sweat has dried.) This interest-free loan is particularly galling when we're experiencing 6% inflation per month, so your wages are worth 3% less when you get them.
    - xeromal 4y ago
      Who gets paid before working? I haven't seen that at least here in the states I've worked in the US. Usually you work to the pay period and receive the prorated amount of days you worked. Sometimes you even have to work for two pay periods which can equate to misery if you haven't saved up. lol. Edit: I reread your comment and understand now! Sorry about that.
      - kragen 4y ago
        Employees in good bargaining positions frequently receive signing bonuses, so they do get paid before working. Those aren't the people taking minimum-wage jobs.
      - projektfu 4y ago
        Attorneys... (I kid, I kid... Obviously attorneys on payroll do not get paid up front, just indy attorneys on retainer).
      - standardUser 4y ago
        "Who gets paid before working?" We are often expected to pay companies either ahead of time or on-demand when purchasing goods and services. When we sell our labor, we generally are forced to accept a payment scheme designed by our employer that results in us getting paid much later, with the employer holding our money in the meantime.
        tyingq 4y ago
        Companies that force "net payment terms" on their vendors are also an interesting setup. Some of them force crazy terms like "Net 90"...90 days after an invoice that can only be submitted once a month. So they are taking labor and paying out sometimes 120 days later.
    - deleted 4y ago
      [deleted]
    - standardUser 4y ago
      You make some really good points. In fact, in any system that valued people over companies, you'd expect people to be paid for their services on demand, if not ahead of time.
      - kragen 4y ago
        Employers have more power than employees in the employer-employee relationship, so they can extract concessions like this.

boomchinolo78 4y ago

It's monthly for sure

RussianCow 4y ago

They meant monthly, though it's not quite that low. According to Reuters[0], the national minimum wage as of this month is 45,540 (around 368 USD), and it will be increased again in August. [0]: https://www.reuters.com/world/americas/argentina-accelerates-hike-minimum-wage-2022-05-10/ https://www.reuters.com/world/americas/argentina-accelerates...

yazantapuz 4y ago
That's because the article uses the "oficial" usd exchange rate (~130 argentine pesos per dollar) that don't includes taxes. With taxes its ~200 per dollar. So, the minimun wage Is ~220
kragen 4y ago
Reuters is using the fraudulent official exchange rate, not the real exchange rate, which is currently $216-$220 per US$. So if you take your monthly minimum-wage salary and convert it into dollars you will get about US$200, not US$368. You need government authorization to buy (a small amount of) dollars at the official rate, and there's a government policy to reserve dollars for rich people, so if you're working a minimum-wage job you won't get that authorization. If you're changing a larger amount of money at the free-market rate you can get as much as US$207 for each $45540.
- yeahsure 4y ago
  I live in Argentina and this is correct. The (fake) official exchange rate is used by the government and media to paint a better picture of the terrible situation that we're in, it should not be used nor trusted anywhere to make any calculations on the cost of living, inflation, salaries nor anything else.
  - kragen 4y ago
    I wonder why Reuters made this error—pure ignorance, or are they trying to curry favor with Fernández?