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With exceptions, many salaried employees aren’t eligible for mandated overtime pay. This means most salaried workers may be scheduled to work extended hours with no additional compensation required at the federal level.
Starting July 1, most salaried workers who earn less than $844 per week will become eligible for overtime pay under the final rule. And on Jan. 1, 2025, most salaried workers who make less than $1,128 per week will become eligible for overtime pay.
Employees covered by the Fair Labor Standards Act (FLSA) must receive overtime pay for hours worked in excess of 40 in a workweek of at least one and one-half times their regular rates of pay.
Salaried employees aren’t entitled to overtime pay for extra hours worked according to the FLSA. However, you should take into consideration any state, local or union regulations that may restrict employees from working overtime or require compensation for additional hours worked.
To be considered exempt from overtime pay, salaried employees must: Have a salary above the U.S. Department of Labor’s (DOL) minimum salary threshold of $684 per week (which is the equivalent of $35,568 per year), AND; Meet the qualifications for one of the FLSA’s overtime exemptions.
On January 1, 2025: If you earn less than $1,128 per week ($58,656 per year), you are eligible for overtime. HCEs who earn under $151,164 will also be eligible for overtime.
Yes, if you are a salaried employee who earns less than $35,568 yearly or $684 each week ($844 per week ($43,888/year) after July 1, 2024), you may be entitled to overtime pay if you work more than 40 hours a week.
The federal overtime provisions are contained in the Fair Labor Standards Act (FLSA). Unless exempt, employees covered by the Act must receive overtime pay for hours worked over 40 in a workweek at a rate not less than time and one-half their regular rates of pay.
The FLSA requires that most employees in the United States be paid at least the federal minimum wage for all hours worked and overtime pay at not less than time and one-half the regular rate of pay for all hours worked over 40 hours in a workweek.
Yes, many salaried employees are entitled to overtime pay under the protections of the Fair Labor Standards Act (FLSA). But the amount of money you make is only one part of the overtime equation.