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According to El Universal, the new minimum in that city is 23 Swiss francs per hour, about 21 euros (about 94,500 Colombian pesos). Taking into account that the average work of Geneva workers is 41 hours a week, approximately, the monthly salary of these people would be about 3,700 euros (about 16,650,000 Colombian pesos).
This monthly salary, according to the newspaper, it is well above the monthly minimum wage for workers with the second highest (minimum) wage in the world, Australia, with 2,180 euros each month (9,810,000 Colombian pesos, approximately).
The media also highlighted that the salary of that city was approved through a referendum among the population with 58.18% of voters in favor, all this despite the fact that almost 10 years ago they had said no to a similar proposal on the increase.
The minimum wage in Colombia
The last increase in the minimum wage in Colombia was 6%, taking it, without transportation subsidy, to 877,803 pesos. Adding this amount with the help for the mobilization of workers, the minimum monthly salary for Colombians this year was 980,657 pesos.
Making a comparison with the minimum wage in Geneva, Switzerland, also considered the most expensive city to live in the world, the salary in Colombia would mean about 195 euros (about 6.9 euros per hour), approximately.
How much will the minimum wage in Colombia go up by 2021?
With the arrival of October, the start of the meetings between unions, workers’ centrals and the Government is also approaching for the installation of the negotiating table in which the percentage that will raise the minimum wage for next year is established.
For this increase, several figures are put on the table, essential to establish the percentage of how much the minimum wage of Colombians will rise, such as inflation and the country’s productivity index, seriously affected by the economic blow of the COVID-19 pandemic.
According to a survey carried out by the Banco de la República, different sectors of the Colombian economy (unions, unions, academics and consultants) estimate that the percentage of increase in the country’s average salary for next year, in line with expected inflation, it would be 3.48%, which would raise the minimum for Colombians just 30,547 pesos per month to 908,349 pesos (without taking into account the transportation subsidy).
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