lilwetdick:
dont be deceived... if you were receiving 25,000 before in a private company, dont expect your boss to pay you 41,666

as a smart businessman, he will just add 7,000 to your money making it 32,000,to the businessman, he has paid you above minimum wage. nothing you can do

If the new salary of a #25k worker is #32k, according to your analysis, what do you think the new salary of an #18k worker will be in the same company, considering the new minimum wage of #30k?
That means, someone who earns a difference of "#25k - #18k" will now earn a difference of "#32k - #30k" with his "junior colleague
However, I agree with you that most of these businessmen would want to find an easy way "out"

iammo:


Too many people dont even understand the National Minimum wage act. Lol omashe ooo !!! you don jonse with your calculators

Consolidated Public Service Salary Structure (CONPSS), handles what each Grade level earns accordingly

While minimum wage law is only a law that states what the minimum amount any worker should earn both public and private with over 25 workers.

The tricky part here is upward review of Salary structure wasnt negotiated by the labour and FG, simply the National minimum wage was negotiated.

.

You seem to be knowledgeable in this matter but you fail to know that all other Grade Levels of salaries are Computed with the Minimum Wage as the benchmark using the relativity principle. Therefore if the benchmark increases all the grade levels will have to go up for relativity to be maintained. Its just that the higher the grade level the lower the degree of increase for equity.

Op is actually right then

Op is actually right then

tbabs10166:
from ur formula, i can deduce that the higher ur previous salary, the higher ur new salary. i.e someone who was earning 100k will now start earning 166k. and someone who was earning 200k will now start earning 333k. I doubt if they'll use this approach.

Then it means it won't work.

ShySteady:



This is a more logical way of reasoning, but I don't know if the President's economic team, the Labour Union and the Ministers including the external teams involved with the minimum wage review think this way.

Some companies will start laying off their old staff. Any little offense will lead to termination or dismissal.

Rate of promotion will be very slow. No more step jumping due to outstanding staff performance. They will allow u to complete each level with their respective steps b4 moving to the next level.

Chaiii......life of civil servant.

viver1:
30,000(new) - 18,000(old) = 12,000(difference)
12,000/18,000= 0.6666
0.6666 x 100%= 66.66

Approximately 66.7% increment.
If u were earning 25,000, new pay will be:
(25,000x66.7)/100 = 16,675
16,675+25,000
=41,675

For someone who earns 41k...what becomes his salary..?

phonemakemoney:
How much will the businessman now pay his security, cleaners and others and what will be difference with salary of a graduate worker?

there will be some difference in pay in the govt sector because of level, step, and grades but in private sectors not much, not every private employer is obliged to pay minimum wage, many companies won't pay or increase any staff salaries

tbabs10166:
from ur formula, i can deduce that the higher ur previous salary, the higher ur new salary. i.e someone who was earning 100k will now start earning 166k. and someone who was earning 200k will now start earning 333k. I doubt if they'll use this approach.

pls does it affect lecturers and military personnel

lilwetdick:


there will be some difference in pay in the govt sector because of level, step, and grades but in private sectors not much, not every private employer is obliged to pay minimum wage, many companies won't pay or increase any staff salaries

True for even when minimum wage was 18000 naira there are many private schools and companies that pay graduate within 10000 to 15000 monthly the non graduates some within 5000 to 12000 monthly.

walex2:



I have done it for you up there is 40 percent increment and not 66.7 and do you still want to argue?

Hey just a quick one.

new-old/old
new/old - old/old
new/odd - 1

*now, I'm gonna simplify for dummers

let "new" be "A"
let "old" be "B"

therefore,
A/B - 1

for example, A=30000; B=18000
30/18 - 1
1.666666666666667 - 1
0.6666666666666667
The answer is, you shouldn't have argued!

With all this calculations up and down, I am beginning to doubt the integrity of WAEC for giving most of you above P7 in Maths.

Originakalokalo:


Let me teach you small mathematics sir.

Percentage increase = actual increase / initial amount multiplied by 100percent.


actual increase = 30000 - 18000

= 12000.

Therefore, percentage increase = 12000/18000 *100

= 66.7 percent.

Let's check your 40percent....

Increase = 40/100*18000
= 7200.

If you add 7200 increase to 18000, you will get 25,200.

The minimum wage is 30000.

Your percentage is wrong sir.

Do this check with 66.7percent.

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Anusiemgood:

For someone who earns 41k...what becomes his salary..?

(41,000x66.7)/100 = 27,347
27,347 + 41,000
= 68,347

walex2:



so an increment from 18k to 30k is 67%? please work on your statistics. let me help you out and you must pay me . to calculate the increment is like this new minus old multiply by the old. therefore the percentage of increment is 30,000-18000 = 12,000. therefore 12,000\18, 000 = 0.4 percent incremental. please clap for me. the increment is 40 percent and not 67 percent

how can 12/18 be 0.4? So 12,000 is less than half (0.5) of 18,000?

Since the first guy said 67%, I already knew he was right even though it's actually 66.67%. If you really know your maths wella, you won't even argue like me with people getting different answers.
For those that were trying to prove the first guy wrong, go back to your basic maths.
For those working with the agency responsible for salary computations, please give us some clearance cos I know say no be by dis direct 67%

Pandsho:

It is over 30k, the new price

Abi olodo leleyi ni. What sre you saying self

mmb:

This is not true because minimum wage only affects basic salary

mmb:

Minimum wage applies only to basic salary not the whole package.

dbelovd:






Lol!... You will need to do the calculation again o.

Even if you cut the fraction 12000/18000 to the lowest term you'll have 2/3 and that is 0.67

you are correct I got my final calculation wrong. 12000/18000 is 0.67

Pandsho:


Simple mathematics. 30 is in the multiple of 3 if you agree. And you can find ten 3s in 30.
The old minimum wage is 18k where you can find six 3s - 60%
The increment is 12k which has four 3s - 40%.
So 40% is the increment,dont kill yourself with formula

Correct, I wonder where people get 66.7% except they are calculating from 18k, but from 30k new minimum wage the increment is 40%, but if you calculate from old minimum wage it will be 67%

urose93:


I fall in love naturally with people whose mathematical/statistical prowess are intact like yours.
I love mathematics. It makes me.

Thanks.

Now a value increase from 18000 to 30000

1st method: assume u bought an item for 18K and sells it for 30K what is ur percentage gain.

30000-18000/18000 *100% 66.7%

2nd Method: 30000/18000=1.667 which is equivalent to the percentage increase if u multiply by 100%. U have 166.7%. But 18000 to 30K is not double which will be less than 100% increment. So just subtract 100% from 166.7% of 1.667 from 1= 66.7%

Hope u get the level.

tciro:
How is 1.667-1=66.7 pls can u explain further so we learn

jujunaty:
chai.. So people still boast in foolishness.. what is Nigeria becoming?

swollen nose... Roast me please.

Plz if ur salary as a junior staff in a federal hospital is 30k. How wil dis new wage affect it Plz if ur salary as a junior staff in a federal hospital is 30k. How wil dis new wage affect it

30000/18000=1.667
It virtually means 166.7%. To get the percentage increment, just subtract from 100%.

Ie 166.7-100= 66.7%. It’s a faster method people apply in Jamb and aptitude test questions.

tciro:
How is 1.667-1=66.7 pls can u explain further so we learn

Percentage increase is given for each category.

Anybody in the house with the new minimum wage salary template?

The simplest way to understand percentage increment is:

What percentage of N18,000 wage will be added to N18,000 to increase it to N30,000?
For those on level 1, step1:

Let y be the percentage increase
18000+((y/100) x 18000)=30000
180y = 30000-18000
180y = 12000
y = 12000/180
y = 66.7%

Alternatively, in a simpler way:
Percentage increase =
(Increment/old wage) x 100
(30000-18000) x 100/18000
= (12000/18000) x 100
= 66.7%

Alternatively, in the simplest way,
By ratio:

(30,000/18000) = 1.667
1 stands for the 18000
0.667 stands for increment ratio on a scale of 1, which is 12,000
So, by simply subtracting 1 from 1.667 and multiplying the result by 100 gives you the percentage increase.

30000/18000 = 1.667
= 1.667-1 = 0.667
% increase = 0.667x 100 = 66.7%

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