By: Kiara Catanzaro
News Assignment Editor
For me, the difference between minimum wage and a living wage is the difference between eating ramen noodles and a home-cooked meal.
Because of my minimum-wage job, I have grown accustomed to the ramen-noodle diet. Recently, I learned that President Obama proposed increasing the federal minimum wage from $7.25 to $9. I am ready to leave my minimum-wage-ramen-noodle days behind, and I am ready for a satisfying living-wage lifestyle.
First, let‘s establish the difference between minimum wage and a living wage. According to Merriam-Webster, the formal definition of living wage is “a wage sufficient to provide the necessities and comforts essential to an acceptable standard of living.” The definition of minimum wage is “the lowest wage paid or permitted to be paid.”
To simplify, minimum wage is the absolute lowest amount that a worker can be paid regardless of where they live. However, a living wage can fluctuate depending on location, so the person can live comfortably.
So, what does this all mean?
It means people have no other choice but to work a minimum wage job because other jobs aren’t available. They would have a better chance at barely getting by with making $7.25 than searching for a job in a failing economy.
Instead of raising the federal minimum wage, a living wage could be created based on the location in the country. According to Dr. Amy Glasmeier, Department Head of Urban Studies and Planning at MIT, if Olean, Buffalo, Chicago, Los Angeles and New York City were to establish a living wage for one adult, the numbers would look like this:
Olean: $8.70; Buffalo: $8.87; Chicago: $10.48; Los Angeles: $11.37; New York City: $12.75.
Based on the source, raising the minimum wage to a living wage around the country would be more beneficial because it factors in the cost of living per city. Having a fixed minimum wage on a federal level doesn’t meet the needs for everyone in the nation.
A change is necessary because it’s essential that people can be independent. College students hear repeated comments about “going off into the real world.” But it’s impossible for college graduates to make a living off of a minimum-wage paycheck.
College students encounter agonizing financial struggles after graduation. In 2013, the average college graduate accumulated $35,200 in debt, according to a Fidelity survey. It’s not a secret that every college student will anticipate some form of debt after graduation. It’s inevitable. So, how can society expect graduates to afford rent, food, and pay off debt while making $7.25 per hour?
Many college graduates are forced to work minimum-wage jobs until they find work in their field. According to The Wall Street Journal, there are at least 284,000 college graduates who currently work a minimum-wage job.
It’s bothersome that students are told to attend college so that they can have a high-paying job in the future after they graduate. But, statistics show that many college graduates are working for less than what they should be paid.
Aside from college graduates not finding work that offers more than $7.25, there are more problems with the capability for college graduates to live comfortably on their own.
According to Jen Kern, Minimum Wage Campaign coordinator, the annual income for a full-time employee earning minimum wage is $15,080. That salary is not substantial enough for a full-time, minimum-wage worker to purchase a two-bedroom apartment in any state.
With the current minimum wage, college students can’t make a suitable living to support themselves financially after graduating without moving back to their parent’s basement. Aside from this catastrophic reality, college graduates also have to pay an average of $35,200 in college-related debt. Logically, the numbers don’t add up for all of the “broke college kids.” It’s important that there is a sufficient wage to meet the needs of our expensive world. The only logical explanation: create a living wage.
catanzka12@bonaventure.edu
