/mæk.sɪ.məm weɪdʒ/ – Phrase
Definition: tiền lương tối đa.
A more thorough explanation: The legal English definition of “maximum wage” refers to the highest amount of compensation that an individual can legally earn within a specified period, typically set by government regulations or collective bargaining agreements. This limit is imposed to ensure income equality, prevent excessive wealth accumulation, or address social and economic concerns.
Example: The government implemented a maximum wage policy to cap executive salaries in order to address income inequality.