Employees who receive bonuses tied to the interprofessional minimum wage will see a single additional gross payment in February, typically ranging from 54 to 63 euros. This depends on whether salaries are issued in 12 or 14 installments. The government is expected to formally approve this adjustment after a council of ministers meeting, bringing the SMI to 1,134 euros gross per month in 2024, up from 1,080 euros. In total, the annual gross amount under the new framework will be about 15,876 euros. The February raise is retroactive to January 1, ensuring that all companies that have not voluntarily implemented the change will compensate employees accordingly. This affects just under 2.5 million workers nationwide. Employers bear the obligation to reflect the revaluation in payroll immediately after it is published in the State Official Bulletin (BOE). Source: Ministry of Labour.
For organizations and human resources teams, the adjustment means updating payroll records and addressing any January delays. The new reference figure of 1,134 euros gross per month, distributed over either 12 or 14 payments, directly influences calculations of salary supplements. Practically, if a worker earned 1,080 euros as base plus a 50 euro night-shift premium, the company would need to increase the base by the necessary amount to reach the 1,134-euro target. The full monthly gross would be obtained when paid across the chosen installment plan. Any excess remains compliant with the law, and the same wage outcome applies to all eligible staff. Source: Ministry of Labour.
Groups set to benefit most from the higher interprofessional minimum wage include younger workers, women, and immigrant employees, reflecting broader coverage across the workforce with each annual update. The SMI serves as a benchmark for many employers and increasingly affects a growing share of full-time staff. While uptake varies by profession, sectors such as agriculture, retail, delivery, and domestic work stand out as particularly impacted. This shift aligns with a broader policy goal of ensuring a minimum income within a sizeable portion of the formal labor market, with ongoing assessments of its reach across regions and roles. Source: Ministry of Labour.