Abstract:

Minimum wage is the lowest compensation level that employers pay to their employees regardless the nature, quality or quantity of their work. The history of minimum wage in the Slovak Republic can be traced back to 1919. Since then, minimum wage has played a significant role not only in compensation systems of all organizations conducting business in the area; but has also been an important topic in social partnership. There are a lot of opinions about advantages and drawbacks of minimum wage. The paper deals with the importance of minimum wage in the Slovak economy in the EU context at present, and discusses its positive and negative aspects. It specifically focuses on the particularities of the system in the country context.