The lowest salary is typically referred to as the minimum wage. This is the legal minimum amount of money that employers must pay their workers for each hour worked.
Factors influencing minimum wage:
- Federal Minimum Wage: The federal minimum wage is set by the U.S. Department of Labor.
- State Minimum Wage: Many states have their own minimum wage laws that may be higher than the federal minimum wage.
- Local Minimum Wage: Some cities and counties may have their own minimum wage laws that exceed both the federal and state minimum wages.
- Tipped Employees: Certain employees, such as tipped workers, may have a lower minimum wage than other workers.
Examples:
- Federal Minimum Wage: $7.25 per hour
- California Minimum Wage: $15.50 per hour
- New York City Minimum Wage: $15.00 per hour
Important Note: The term "lowest salary" can also refer to the lowest salary offered within a specific company or industry. However, the most common understanding of "lowest salary" is the minimum wage.
