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Calculating Your Nation's Minimum Wage

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Independence Hill
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Calculating Your Nation's Minimum Wage

Postby Independence Hill » Sat Mar 06, 2021 11:33 am

Minimum Wage: Avg income of the poor divided by Public Education (if public education value is zero or a negative number, no minimum age is established. Nations with high minimum wage may also have a high inflation rate, but more testing of this formula is required to know for sure.)

Example:

My nation's average income of the poor today is []30,465.84 and my public education score is 2,872.28.

30,465.84 / 2,872.28 = []10.61 per hour. (rounded to the nearest cent and expressed with your nation's currency icon)

Try it out and let me know what your minimum wage is.

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Frontier Isles
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Postby Frontier Isles » Sat Mar 06, 2021 11:36 am

i don't like this method of calculating minimum wage; nations with more education would actually be at a disadvantage.

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Independence Hill
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Postby Independence Hill » Sat Mar 06, 2021 11:39 am

Frontier Isles wrote:i don't like this method of calculating minimum wage; nations with more education would actually be at a disadvantage.



Don't forget to multiply your answer by your exchange rate so you get a better sense of raw purchasing power.

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Nantu
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Postby Nantu » Sat Mar 06, 2021 11:43 am

$116,123.14 divided by 6,905.17 is $16.81 per hour

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Prosperus Happyland
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Postby Prosperus Happyland » Sat Mar 06, 2021 11:49 am

160,537 divided by 8.401 nearly equals 19 happy coins per hour

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Independence Hill
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Postby Independence Hill » Sat Mar 06, 2021 11:54 am

Frontier Isles wrote:i don't like this method of calculating minimum wage; nations with more education would actually be at a disadvantage.



Your average income of the poor is 27,314.58 and your public education score is 1,846.58.

divide 27,314.58 by 1,846.58 and your minimum wage comes out to $14.79.

Absolute Exchange Rate: √(GRP Per Capita * EPR / 404,000,000) This is going to be the square root of (GRP per capita multiplied by the Economic Productivity Rating and then divided by 404,000,000).

GDP and GRP measure the same thing but on different scales.

Your nation's GDP Per Capita = $108,755.76

Your ERP = 50,000

108,755.76 x 50,000 = 5,437,788,018.433

5,437,788,018.433 / 404,000,000 = 13.46 (rounded up)

The square root of 13.46 = 3.66

Therefore one dollar from the Frontier Islands is equal to $3.66 USD.

14.79 Frontier Island Dollars = $54.13 per hour in USD.

Your EPR can be found on this table:

Economic Productivity Rating, Classification, & Unemployment score Scores: (Productivity / Classification / *Unemployment Score)

Frightening = 50,000 / 100 / +2

All-Consuming = 45,000 / 95 / +2.50

Powerhouse = 40,000 / 90 / +3.00

Thriving = 35,000 / 85 / +3.50

Very Strong = 30,000 / 80 / +4.00

Strong = 25,000 / 75 / +4.50

Good = 20,000 / 70 / +5.00

Fair = 15,000 / 65 / +6.00

Reasonable = 10,000 / 60 / +7.00

Developing = 5,000 / 55 / +8.00

Struggling = 3,000 / 50 / +9.00

Weak = 1,000 / 45 / +10.00

Fragile = 500 / 40 / +12.00

Basket Case = 250 / 35 / +14.00

Imploded = 100 / 30 / +16.00

(*Lower Unemployment Scores Are Better)

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Ventalia
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Postby Ventalia » Sat Mar 06, 2021 5:33 pm

This calculation falls apart for high-income, high-education countries.

For example:
Ventalia's Average Income of Poor is 241,104.45 units of currency (whether dollars, pounds, whatever - it's irrelevant)
Ventalia's Public Education score is 12,935.75
241,104.45 / 12,935.75 = 18.64 hourly

Ain't nobody gonna work for 39K a year in a place where average salary expectations are 6 times that for their socio-economic class.
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Drongonia
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Postby Drongonia » Sat Mar 06, 2021 5:41 pm

$135,475.94 divided by 9,485.47 equals $14.28 per hour.

Can't say I'm crazy about this way of calculation, as when you put this back into an annual salary (with zero days off Monday to Friday, 8 hours per day) it only comes out to $29,702.40 - which makes near zero sense when compared to the NS stat average poor income.
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Postby Wizlandia » Sat Mar 06, 2021 5:47 pm

NS stats wise, Wizlandia's average income of the poor is 124,704.35, and public education is 8,450.37.

But Wizlandia has no minimum wage.
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Postby Independence Hill » Sat Mar 06, 2021 5:49 pm

Ventalia wrote:This calculation falls apart for high-income, high-education countries.

For example:
Ventalia's Average Income of Poor is 241,104.45 units of currency (whether dollars, pounds, whatever - it's irrelevant)
Ventalia's Public Education score is 12,935.75
241,104.45 / 12,935.75 = 18.64 hourly

Ain't nobody gonna work for 39K a year in a place where average salary expectations are 6 times that for their socio-economic class.



Please take into account your exchange rate so you can get a sense for the raw buying power of your minimum wage. Also, within average income of the poor, there are probably a lot more people within this bracket that make more than just minimum wage. The number you get when calculating represents the lowest wage allowable. Multiply your minimum wage by your exchange rate to get raw buying power.

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Independence Hill
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Postby Independence Hill » Sat Mar 06, 2021 5:51 pm

Wizlandia wrote:NS stats wise, Wizlandia's average income of the poor is 124,704.35, and public education is 8,450.37.

But Wizlandia has no minimum wage.


To get your minimum wage, divide 123,704.35 by 8,450.37. Multiply the answer by your exchange rate to get a sense of raw buying power of your nation's minimum wage.

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Frontier Isles
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Postby Frontier Isles » Sat Mar 06, 2021 5:51 pm

Independence Hill wrote:
Frontier Isles wrote:i don't like this method of calculating minimum wage; nations with more education would actually be at a disadvantage.



Your average income of the poor is 27,314.58 and your public education score is 1,846.58.

divide 27,314.58 by 1,846.58 and your minimum wage comes out to $14.79.

Absolute Exchange Rate: √(GRP Per Capita * EPR / 404,000,000) This is going to be the square root of (GRP per capita multiplied by the Economic Productivity Rating and then divided by 404,000,000).

GDP and GRP measure the same thing but on different scales.

Your nation's GDP Per Capita = $108,755.76

Your ERP = 50,000

108,755.76 x 50,000 = 5,437,788,018.433

5,437,788,018.433 / 404,000,000 = 13.46 (rounded up)

The square root of 13.46 = 3.66

Therefore one dollar from the Frontier Islands is equal to $3.66 USD.

14.79 Frontier Island Dollars = $54.13 per hour in USD.

Your EPR can be found on this table:

Economic Productivity Rating, Classification, & Unemployment score Scores: (Productivity / Classification / *Unemployment Score)

Frightening = 50,000 / 100 / +2

All-Consuming = 45,000 / 95 / +2.50

Powerhouse = 40,000 / 90 / +3.00

Thriving = 35,000 / 85 / +3.50

Very Strong = 30,000 / 80 / +4.00

Strong = 25,000 / 75 / +4.50

Good = 20,000 / 70 / +5.00

Fair = 15,000 / 65 / +6.00

Reasonable = 10,000 / 60 / +7.00

Developing = 5,000 / 55 / +8.00

Struggling = 3,000 / 50 / +9.00

Weak = 1,000 / 45 / +10.00

Fragile = 500 / 40 / +12.00

Basket Case = 250 / 35 / +14.00

Imploded = 100 / 30 / +16.00

(*Lower Unemployment Scores Are Better)

Very well. I never expected the minimum wage in my nation to be so high :O

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Postby Monkchester » Sat Mar 06, 2021 5:54 pm

If, as you said in your unemployment thread, you want to add realism to the game, you shouldn't be looking at NS stats.
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Independence Hill
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Postby Independence Hill » Sat Mar 06, 2021 5:57 pm

Frontier Isles wrote:
Independence Hill wrote:

Your average income of the poor is 27,314.58 and your public education score is 1,846.58.

divide 27,314.58 by 1,846.58 and your minimum wage comes out to $14.79.

Absolute Exchange Rate: √(GRP Per Capita * EPR / 404,000,000) This is going to be the square root of (GRP per capita multiplied by the Economic Productivity Rating and then divided by 404,000,000).

GDP and GRP measure the same thing but on different scales.

Your nation's GDP Per Capita = $108,755.76

Your ERP = 50,000

108,755.76 x 50,000 = 5,437,788,018.433

5,437,788,018.433 / 404,000,000 = 13.46 (rounded up)

The square root of 13.46 = 3.66

Therefore one dollar from the Frontier Islands is equal to $3.66 USD.

14.79 Frontier Island Dollars = $54.13 per hour in USD.

Your EPR can be found on this table:

Economic Productivity Rating, Classification, & Unemployment score Scores: (Productivity / Classification / *Unemployment Score)

Frightening = 50,000 / 100 / +2

All-Consuming = 45,000 / 95 / +2.50

Powerhouse = 40,000 / 90 / +3.00

Thriving = 35,000 / 85 / +3.50

Very Strong = 30,000 / 80 / +4.00

Strong = 25,000 / 75 / +4.50

Good = 20,000 / 70 / +5.00

Fair = 15,000 / 65 / +6.00

Reasonable = 10,000 / 60 / +7.00

Developing = 5,000 / 55 / +8.00

Struggling = 3,000 / 50 / +9.00

Weak = 1,000 / 45 / +10.00

Fragile = 500 / 40 / +12.00

Basket Case = 250 / 35 / +14.00

Imploded = 100 / 30 / +16.00

(*Lower Unemployment Scores Are Better)

Very well. I never expected the minimum wage in my nation to be so high :O



It may seem like your minimum wage is high but that is because of your currency's buying power. If your minimum wage is high, and your currency value is high, then it's safe to say that products within your country cost more. With higher costs come a higher price point for labor.

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Universil-Unoyz Wintarros
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Postby Universil-Unoyz Wintarros » Sat Mar 06, 2021 5:58 pm

for normal tsarus
210,000 / 7,176.28

minimum wage is 29 units aka 117 dollars an hour
however we tax 72% that is 32 dollars an hour
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Independence Hill
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Postby Independence Hill » Sat Mar 06, 2021 5:59 pm

Monkchester wrote:If, as you said in your unemployment thread, you want to add realism to the game, you shouldn't be looking at NS stats.



Unfortunately, the only framework that can be used is NS Trends as NS Dossier is still offline. And abstaining from any measurement is not an option. NS Trends is what is available.

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Independence Hill
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Postby Independence Hill » Sat Mar 06, 2021 6:00 pm

Universil-Unoyz Wintarros wrote:for normal tsarus
210,000 / 7,176.28

minimum wage is 29 units aka 117 dollars an hour
however we tax 50% that is 58 dollars an hour



Taxes are a great point. Thank you bringing that up. Yes, you'll want to keep your taxes lower in order for those at the bottom to have more buying power or you'll have to increase the value of your currency to overcome.

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Monkchester
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Postby Monkchester » Sat Mar 06, 2021 6:07 pm

Independence Hill wrote:
Monkchester wrote:If, as you said in your unemployment thread, you want to add realism to the game, you shouldn't be looking at NS stats.



Unfortunately, the only framework that can be used is NS Trends as NS Dossier is still offline. And abstaining from any measurement is not an option. NS Trends is what is available.

There's worldbuilding/roleplaying.
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Independence Hill
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Postby Independence Hill » Sat Mar 06, 2021 6:14 pm

Monkchester wrote:
Independence Hill wrote:

Unfortunately, the only framework that can be used is NS Trends as NS Dossier is still offline. And abstaining from any measurement is not an option. NS Trends is what is available.

There's worldbuilding/roleplaying.


And that's what this is, a roleplay. It's just based on numbers inside the game. What adds excitement to adding realism to the game is refraining from using numbers off the top of our heads. If we chose the numbers we wanted, everything would be great... and boring. But using in game numbers allows for difference and variation. It allows us to work toward something without getting bored.

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Postby Madrinpoor » Sat Mar 06, 2021 7:13 pm

I determined that my minimum wage is around 9.42, and 19,593 a year. Then I determined that my cost of living (economic output / taxation, move decimal three places to the right to get a realistic answer) is 2,022 a year. I need to increase my minimum wage...
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Postby Independence Hill » Sat Mar 06, 2021 7:16 pm

Madrinpoor wrote:I determined that my minimum wage is around 9.42, and 19,593 a year. Then I determined that my cost of living (economic output / taxation, move decimal three places to the right to get a realistic answer) is 2,022 a year. I need to increase my minimum wage...


That's the spirit. If you like these equations, take a look at my post about calculating average IQ. That formula has been tested thoroughly.

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Postby Countesia » Sun Mar 07, 2021 3:24 pm

Population is the only NS stat i adhere too. So what happens if you dont have a public education to go off on?

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Postby Sao Nova Europa » Sun Mar 07, 2021 3:30 pm

Interesting. Will be doing some calculations later, though I do suck a bit at math.
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Postby Independence Hill » Sun Mar 07, 2021 4:10 pm

Countesia wrote:Population is the only NS stat i adhere too. So what happens if you dont have a public education to go off on?


If your public education score is zero or a negative number, minimum wage cannot be determined.

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Postby Independence Hill » Sun Mar 07, 2021 4:10 pm

Sao Nova Europa wrote:Interesting. Will be doing some calculations later, though I do suck a bit at math.



Thank you. I hope this formula works for you as well as it has worked for me.

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