A fair wage is something more than the minimum wages. Fair wage is a mean between the living wage and the minimum wage.

1. Fair Wages
Compensation Management

2. Prepared By
Kindly restrict the use of slides for personal purpose.
Please seek permission to reproduce the same in public forms and presentations.
Manu Melwin Joy
Assistant Professor
Ilahia School of Management Studies
Kerala, India.
Phone – 9744551114
Mail – manu_melwinjoy@yahoo.com

3. Fair Wages
• A fair wage is something
more than the minimum
wages. Fair wage is a
mean between the living
wage and the minimum
wage.

4. Fair Wages
• While the lower limit of the
fair wage must obviously be
the minimum wage, the
upper limit is the capacity of
the industry to pay fair wage
compares reasonably with
the average payment of
similar task in other trades
or occupations requiring the
same amount of ability.

5. Fair Wages
• Fair wage depends on
the present economic
position as well as on its
future prospects.

6. Fair Wages
• The fair wages depends
upon the following factors :
– (1) Minimum Wage
– (2) Capacity of the industry to
pay
– (3) Prevailing rates of wages in
the same or similar
occupations in the same or
neighboring localities

7. Fair Wages
• The fair wages depends
upon the following factors :
– (4) Productivity of labor.
– (5) Level of national income
and its distribution.
– (6) The place of the industry in
the economy of the country.