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Exempt white collar workers must be paid an annual salary of at least $47,476 under the Department of Labor’s (DOL’s) just-released final overtime rule. That salary threshold is more than twice the current salary requirement for the white collar exemptions under the Fair Labor Standards Act (FLSA). Highly compensated employees must be paid at least $134,004 per year (increased from $100,000) to meet that exemption. The new rule is effective December 1, 2016, so employers have about six months to decide what to do with current exempt white collar workers who do not meet the new thresholds.
don't get the difference between the two exemptions, all they have to do is not "highly" compensate someone, and they become a normal white collar worker and get paid $50k, then they can work them as many hours as they want.
To retain them, they can make up the "difference" with a bonus, so the worker pay doesn't change
besides, bonuses are the current trend instead of raises, seems to help with tax issues? and budgeting
Well i have to be corrected, exempt means they can work you much as they want and you will not get paid overtime.. Take time off and still get paid the same. Non-exempt, your hourly or have a base pay and over 40 they must pay you overtime. Problem most face is the full salary does not reflect your overtime that you could have made. Base pay needs to be adjusted to reflect the changes. Example is 40k a year is 769 a week. Bring home after taxes is 650 average. Most require 50 a hours a week min, so straight pay around $19 a hour. So now you have a hour rate. So 28.50 hour is over time. So 285 bucks is overtime. 40x19=760 than 28.50x10 is 285 grand total 1045 a week. 276 dollar differ between salary and hourly pay for the same job..
Many companies will restructure how they grade and use employees because of this regulation change. I think this will reduce the opportunities for employees to transition to higher paid professional positions since it will result in more 'hourly' positions with restricted overtime.
Many companies will restructure how they grade and use employees because of this regulation change. I think this will reduce the opportunities for employees to transition to higher paid professional positions since it will result in more 'hourly' positions with restricted overtime.
What i am afraid of. Managers who are on salary will suffer the good or the bad. May now those who are on slavery can get paid correctly for the overtime they are force to work.
What i am afraid of. Managers who are on salary will suffer the good or the bad. May now those who are on slavery can get paid correctly for the overtime they are force to work.
Well, some of them.
Your medical residents, teachers, post-docs, and military members will still get their same ol salary.
No greater bargain than a medical resident or a E3 in the military. 60-80 hour plus weeks of intense labor for less than $45k/yr.
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