Royal Decree 145/2024, published on February 7 in the Official State Gazette (BOE), establishes the Minimum Interprofessional Wage (SMI) in Spain for 2024.
The SMI is set at 37.8 euros per day or 1,134 euros per month for a full working day for any activity in agriculture, industry and services, without distinction of sex or age of the workers. It is important to know that the minimum interprofessional wage takes into account for its calculation the remuneration in money, not being able to reduce its amount with any form of salary in kind.
This annual salary of 15,876 euros is made up of 12 monthly payments and 2 extraordinary payments, for a total of 14 instalments. In terms of 12 instalments, the monthly salary is 1,323 euros with the extra payments prorated. This increase represents an increase of 5% with respect to that established in 2023.
Temporary workers, whose services to the same company do not exceed 120 days, will receive, together with the minimum wage, the proportional part of the remuneration for Sundays and holidays, as well as the two extra payments to which all workers are entitled. The amount of the salary cannot be less than 53.71 euros per legal working day in the activity.
For domestic employees, a salary of 8.87 euros per effective hour worked is established.
The decree is in force from January 1 to December 31, 2024. Therefore, the increase must be applied retroactively by the companies from the beginning of 2024.
In addition to the increase in the Minimum Interprofessional Wage, the minimum exempt threshold for Personal Income Tax (IRPF) has been increased to align with the annual amount of the SMI: 15,876 euros gross per year.
