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saint57
Joined: 10 Mar 2003
Posts: 1221
Location: Beyond the Dune Sea
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 Posted: Sun Jan 21, 2007 6:26 am Post subject: Minimum Wage |
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| Two years from now, full-time minimum wage workers in the U.S. will gross 9,020 RMB per month. Just keep that in mind the next time you sign a contract. |
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AussieGuyInChina
Joined: 23 Nov 2006
Posts: 403
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| Posted: Sun Jan 21, 2007 10:45 am Post subject: |
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I've always suspected that Australia is more advanced than the States.
TODAY, the full-time minimum wage workers in Australia gross is 13,612 RMB per month.
(AUD$512.00 x 52 / 12 = $2,218.66 x 6.13724 = RMB13,612) |
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saint57
Joined: 10 Mar 2003
Posts: 1221
Location: Beyond the Dune Sea
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| Posted: Sun Jan 21, 2007 10:51 am Post subject: |
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| Although I don't understand your complex calculations, the same article I read had Australia's minimum wage at over $10 USD. Make me wonder why anyone would want to leave. |
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AussieGuyInChina
Joined: 23 Nov 2006
Posts: 403
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| Posted: Sun Jan 21, 2007 11:44 am Post subject: |
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In Australia, the minimum wage is set as a weekly rate, i.e. $512.00
$512.00 per week times 52 weeks = $26,624.00 per year.
$26,624 per year divided by 12 = $2,218.66 per calendar month.
$2,218.66 per calendar month times the current exchange rate of 6.13724 equals RMB13,600.00 per calendar month.
Some Australians leave because they value their life's worth by the quantity and quality of experiences experienced, not by how much they earn / own. |
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vikdk
Joined: 25 Jun 2003
Posts: 1676
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| Posted: Sun Jan 21, 2007 6:10 pm Post subject: |
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| quality of experiences experienced |
,
I would have though working as an FT in China - after its initial excitments - wouldn't realy rank as one of those top-ranking experiences experienced - but is one of those grinds that has to be endured so that the FT can partake in some of the more worthwhile experiences that can be found in China - experiences which are very often more easily obtained with a bit a of cash in your pocket - and the earning more of it certainly doesn't hurt, and indeed can be an experience in itself  |
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eslstudies
Joined: 17 Dec 2006
Posts: 1061
Location: East of Aden
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| Posted: Sun Jan 21, 2007 6:56 pm Post subject: |
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As one who earns 3 times the minimum wage in Australia, but spends 40 hours a week at work, I was more than happy to swap that for several years for a much less frenetic pace, far shorter hours, a very much easier job, and more than enough money to live very comfortably: and save!
My sometimes criticised [ask prof] former signature here was "China: as close as you'll get to a paid holiday", because as a first world teacher, that's what it was like.
Meanwhile housing prices here are reportedly freezing core workers [police, nurses, teachers] out of many urban areas. I know this has happened already in other countries. |
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Leon Purvis
Joined: 27 Feb 2006
Posts: 420
Location: Nowhere Near Beijing
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| Posted: Sun Jan 21, 2007 10:15 pm Post subject: Re: Minimum Wage |
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| saint57 wrote: |
| Two years from now, full-time minimum wage workers in the U.S. will gross 9,020 RMB per month. Just keep that in mind the next time you sign a contract. |
Wow.That's real nice to know. When I leave, I won't have to change my RMBs because America will be trading in Reminbi rather than dollars.
Will I be able to take a pedicab to K-Mart in my hometown in North Dakota for three RMB too? |
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eslstudies
Joined: 17 Dec 2006
Posts: 1061
Location: East of Aden
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| Posted: Sun Jan 21, 2007 11:28 pm Post subject: Re: Minimum Wage |
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| Leon Purvis wrote: |
| saint57 wrote: |
| Two years from now, full-time minimum wage workers in the U.S. will gross 9,020 RMB per month. Just keep that in mind the next time you sign a contract. |
Wow.That's real nice to know. When I leave, I won't have to change my RMBs because America will be trading in Reminbi rather than dollars.
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Actually, a world currency makes sense. What could be more attractive than Mao on a pink bill? Everything else will be made in China, so why not currency? |
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saint57
Joined: 10 Mar 2003
Posts: 1221
Location: Beyond the Dune Sea
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| Posted: Tue Jan 23, 2007 11:01 am Post subject: |
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| Quote: |
Wow.That's real nice to know. When I leave, I won't have to change my RMBs because America will be trading in Reminbi rather than dollars.
Will I be able to take a pedicab to K-Mart in my hometown in North Dakota for three RMB too? |
Start saving boy. Maybe when you go back to the States, you can buy a pedicab. |
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