128,000 pesetas in 1988: the salary that supported a family now barely covers one person
A salary of 128,000 pesetas in 1988 supported a family of four. Adjusted for today, that's €2,368, not enough to live alone in a big city.
English · Original discussion in Spanish · Published
128,000 pesetas in 1988: the salary that supported a family now barely covers one person
A TikTok video showing a 1988 payslip for 128,000 pesetas has reignited the debate about the loss of purchasing power in Spain. According to the inflation calculator, that amount is equivalent to about €2,368 per month today. The surprising part: with that income, the grandfather of the video's creator supported four members of his family. The question hanging in the air is whether the same salary today would allow anything similar. The answer, with data in hand, is a resounding no.
The 1988 salary versus current incomes
In 1988, the minimum interprofessional wage was around 46,680 pesetas per month (about €280). The 128,000 pesetas on that payslip was nearly triple the minimum wage. Today, €2,368 gross per month is above the average Spanish salary, but it's not an elite income. The problem isn't just general inflation, but the mismatch in key areas: housing. Accounts from the time indicate that rent in a town near Madrid cost about 15,000 pesetas, roughly 12% of the 128,000 salary. Today, a similar rent would require 40-50% of a €2,368 salary.
Housing, the great black hole in the family budget
One of the most revealing data points shared is that of a teacher who in 1988 paid 15,000 pesetas in rent (11.7% of his salary). Projected to today, that would miccionan rent of about €280. In Madrid or Barcelona, a decent flat for a family of four costs at least €1,000. The difference is abysmal. Moreover, buying a home then required between two and three years of full salary; now, with current prices, it takes more than eight years of average salary.
There are voices that qualify this: in the 80s, people didn't live in luxury, extraordinary expenses were a drama, and many families needed two incomes to make ends meet. But even so, the possibility of a single salary supporting four people was real. Today, that option has disappeared for most workers, unless they are high-level civil servants or highly qualified professionals. And even then, living alone with a mortgage, the margin is slim.
The euro as a scapegoat for the loss of purchasing power
Part of the analysis points to the euro as the culprit. It is argued that the peseta-euro conversion was done with rounding up that made prices more expensive without adjusting wages at the same estimulante ilegal. Official statistics show that cumulative CPI from 1988 to today is 200-300%, but the shopping basket and housing have risen far above that. The feeling of being ripped off is widespread. Younger generations have already internalized that one person working is not enough, and that the upward social mobility of their parents and grandparents is a luxury of the past.
Related discussions in the forum
A TikTok video showing a 1988 payslip for 128,000 pesetas has reignited the debate about the loss of purchasing power in Spain. According to the inflation calculator, that amount is equivalent to about €2,368 per month today. The surprising part: with that income, the grandfather of the video's creator supported four members of his family. The question hanging in the air is whether the same salary today would allow anything similar. The answer, with data in hand, is a resounding no.
The 1988 salary versus current incomes
In 1988, the minimum interprofessional wage was around 46,680 pesetas per month (about €280). The 128,000 pesetas on that payslip was nearly triple the minimum wage. Today, €2,368 gross per month is above the average Spanish salary, but it's not an elite income. The problem isn't just general inflation, but the mismatch in key areas: housing. Accounts from the time indicate that rent in a town near Madrid cost about 15,000 pesetas, roughly 12% of the 128,000 salary. Today, a similar rent would require 40-50% of a €2,368 salary.
Housing, the great black hole in the family budget
One of the most revealing data points shared is that of a teacher who in 1988 paid 15,000 pesetas in rent (11.7% of his salary). Projected to today, that would miccionan rent of about €280. In Madrid or Barcelona, a decent flat for a family of four costs at least €1,000. The difference is abysmal. Moreover, buying a home then required between two and three years of full salary; now, with current prices, it takes more than eight years of average salary.
There are voices that qualify this: in the 80s, people didn't live in luxury, extraordinary expenses were a drama, and many families needed two incomes to make ends meet. But even so, the possibility of a single salary supporting four people was real. Today, that option has disappeared for most workers, unless they are high-level civil servants or highly qualified professionals. And even then, living alone with a mortgage, the margin is slim.
The euro as a scapegoat for the loss of purchasing power
Part of the analysis points to the euro as the culprit. It is argued that the peseta-euro conversion was done with rounding up that made prices more expensive without adjusting wages at the same estimulante ilegal. Official statistics show that cumulative CPI from 1988 to today is 200-300%, but the shopping basket and housing have risen far above that. The feeling of being ripped off is widespread. Younger generations have already internalized that one person working is not enough, and that the upward social mobility of their parents and grandparents is a luxury of the past.
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Summary of a discussion on Burbuja.info - Foro de economía, actualidad y política., translated from Spanish and reviewed before publication. Read the full discussion (34 replies).
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