The wage in labor market has drastically changed during the past centuryand gone through different stages and changed with socioeconomic determinants. Among the concepts of labor, demand and supply of labor are very important in practical sense. The determination of wages in a free market simply depends on the socioeconomic characteristics of the labor force. Therefore, an attempt is made to explore the relationships between the wage rates and demographic characteristics of labor force using econometric methods. The required data are obtained from the records of Labor Force and Socioeconomic Survey conducted by the Department of Census and Statistics. An econometric model for wage rates using the demographic characteristics as independent variables is fitted and verified. The study reveals that age, gender, civil status, ethnicity etc. have significant influences in determining the wages. Hence, it is emphasized that the demographic characteristics should be taken into consideration whendetermining the wages of aparticular labor force inherited in the respective areas of the country.