The essay deals with the recent Italian legislation giving financial support to negotiated models of contractual welfare. Important fallouts from the legal regulation of contractual welfare on labour law are highlighted from the point of view of both industrial relations and individual employment contracts. One of the questions that animates the research is whether the transformation of productivity bonuses into contractual welfare could constitute a form of “wage in kindµ compatible with article 36 of the Italian Constitution. The reflection highlights the interactions of the contractual welfare with the constitutional fair wage right. The author considers the principle of sufficient remuneration as a constitutional guarantee of a mandatory minimum monetary compensation.