What is a “fair wage?”

by hamiltonmj1983

Today’s post is just a question that I hope some of you will take the time to answer. If a job requires applicants to hold a Master’s degree to be considered, what ought the lowest wage be that could still be considered fair? Would the wage for a 20 hour position be half of that which would be fair for a 40 hour position? With the cost of education and the time commitment to obtain a Master’s degree, how much should these applicants expect to be paid?