Many old people who were borne in the 50s ,still think of the days of 5 cents for a big loaf of bread.
Will increasing of salary provide good standard life?
The AI responded as:
Basic salary is needed in modern days for financial stability, career planning, and worker protection; it provides a predictable income for daily living, serves as the foundation for a compensation package, and ensures workers are not exploited by guaranteeing a minimum income standard.
Financial Stability
- A base pay provides a consistent and predictable income, making it easier for employees to budget, manage their finances, and plan for their future.
- Basic salary, especially as a minimum wage, ensures that employees can cover their daily living expenses and meet their fundamental needs.
Compensation and Career
- Basic salary is the fixed, regular pay that serves as the core component of an employee's overall compensation package, forming the basis for additional payments like bonuses and allowances.
- Knowing your base pay is crucial for understanding your financial standing and planning your career path, as it helps you assess opportunities for advancement and negotiation.
Worker Protection and Fairness
- Basic salary, particularly through minimum wage laws, protects workers from exploitation by establishing a baseline for their compensation, ensuring they receive a fair wage for their work.
- Basic salary helps ensure that all employees, regardless of industry, are compensated fairly for their labor and that a standard of living can be maintained
RM1,700 monthly min wage to be fully implemented from Aug 1
https://www.thestar.com.my/news/nation/2025/07/22/rm1700-minimum-wage-to-come-into-force-from-aug-1
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