By federal law, salaried employees are not required to get overtime pay. Your company may offer bonuses or incentives though.
Exempt employees are 'exempt' from federal overtime rules and regulations, based on specific qualifications put forth by FLSA rules. (Executives, professionals, etc.) Non-Exempt employees are paid by the hour, and are subject to federal overtime rules (time and a half, for all hours worked over 40 in a pay week.) All hourly employees are non-exempt, all exempt employees are salaried, but not all salaried employees are exempt. Salaried employees must pass specific FLSA criteria to be categorized as 'Exempt', and therefore exempt from overtime rules.
hourly employees
A salaried employee - is paid monthly - by dividing their annual pay by 12. A waged employee is paid weekly - by dividing their annual pay by 52.
nope ... it's a salary job ... you don't get paid by the hour ...
Yes if the employee is salaried then the company does not have to pay overtime, only comp time.
That depends. Wage and hour laws determine who must be paid overtime- and what IS overtime. Some employees are salaried employees, known as "exempt" employees. I am a manager, and I am paid a flat salary, without regard to the number of hours I work- whether 30 or 50. Your question, along with more information, needs to be directed to the Texas Employment commission.
Nobody that I know of. You can work more than eight hours a day if you want and your employer will allow it.The reason your employer might not allow it is that generally they are required to pay overtime for any hours worked after the first 8. There are a couple of important exceptions: employees on a regular 10 hour per day (for 4 days per week rather than 5) shift do not get overtime pay, and salaried employees do not get overtime regardless of how long they work.
If an employee is salaried then they have a fixed amount of pay per pay period so working fewer hours per week wouldn't change the pay. It wouldn't really make sense for a company to reduce the hours of salaried employees in order to save payroll costs. Salaried employees have reached a level of professionalism where they don't punch a time card. If someone is keeping track of hours for an employee, then they are most likely NOT salaried.
Unfortunately if your position has a set salary and you are not a hourly paid employee than you are not entitled to being paid for overtime, even in the state of Colorado.
No, it is not ... at least not without some qualifications.The US is changing its rules regarding exempt employees (the new rules go into effect December 1 2016), and employees at the low end of the salary range may no longer qualify for exempt status. So SOME salaried employees may be going to hourly pay (which among other things, means they will now be eligible for overtime pay).
Per Federal Law, you need to understand the definitions used for pay. Non-exempt is usually an hourly employee and Exempt is usually a salaried employee. Some salaried employees are non-exept. Their salary is based on a 40 hour or pre-determined number of hours a week. If they work more than their determined number of hours per week, they get overtime pay. Exempt employees are exempt from the overtime laws. You are paid a salary per pay period no matter how many hours over 40 you work. You can work 40 hours or 90 hours and you will get the same pay either way. Non-exempt employees are not exempted from the overtime laws. If a non-exempt employee works more than 40 hours per week, they are required to receive overtime pay. One thing to remember is that overtime is only used for hours actually worked in excess of 40 hours per week. If you get 2 day of holiday pay (Christmas usually), those 16 hours of pay do not count for overtime purposes. You would have to work more than 40 hours in the days that you did not have off.