The guaranteed minimum wage (SMI) fixes the minimum salary amount that the worker will receive for the legal working day, without distinction of sex or age of the workers, whether they have a indefinite or temporary contract.
The value that the MIS takes is fixed every year by the Government, through the publication of Royal Decree 1077/2017, of December 29th. To determinate it, is it fixed according to factors such as the Consumer Prices index (CPI), the average national productivity achieved or the increase of labour participation in national income are taken into account.
For the year 2018 the Council of Ministers fixed the Guaranteed Minimum Wage in the following values:
• Minimum Daily Salary: 24.53 €
• Minimum Monthly Salary: 735.90 €
• Minimum Annual Salary: 10,302.60 € (14 payments)
These values represent an increase of 4% with regard to the last year 2017.
The amount is fixed in salary per day and salary per month and in the case of household employees is also fixed in salary per hour. The minimum wage for half a day would correspond to 50% of the indicated values, that is, 367.95 € monthly.
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