In terms of flexibility of the labor market, Denmark stands out above both Spain and its Nordic neighbors. To begin with, firing costs in Denmark are very low. For instance, a white collar worker that was unfairly dismissed today would receive a compensation of maximum four months of salary after working for 10 years in the company. On the other hand, if the dismissal was considered to be fair, the employee would receive no compensation. In addition, there is no minimum wage established by law, and social contributions paid by employers on behalf of employees do not exceed 2% of the gross salary. In contrast, the severance pay that the same employee would receive in Spain would amount to between 13 or 21 months of salary (depending on whether the new or the old legislation is applied), a fair dismissal would result in around eight months of pay in compensation, the legal minimum wage is 756€ a month (although the cost for the company is substantially higher), and social contributions borne by the company account for one-fourth of the gross salary.