minimum wage

from The American Heritage® Dictionary of the English Language, 5th Edition.

• noun The lowest wage, determined by law or contract, that an employer may pay an employee for a specified job.

from Wiktionary, Creative Commons Attribution/Share-Alike License.

• noun The lowest rate at which an employer can legally pay an employee; usually expressed as pay per hour.

from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.

• noun the lowest wage that an employer is allowed to pay; determined by contract or by law