The paper discusses various theories of wage determination such as, cost of living theory, inflation indexation, consumption, poverty line, calorie-based urban poverty line, employee's, productivity theory, minimum wage theory etc. and makes an attempt to estimate a wide range of basic money wages for the unskilled workers in Bangladesh for the year 2004-05 applying these theories. The decision makers in Bangladesh (like the National Productivity Commission, the Collective Bargaining Agents, the Minimum Wage Board) can pick up one wage rate from the range for the unskilled workers in the formal sector of Bangladesh.