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The Obama administration just changed the salary threshold for salaried employees to be exempt from overtime pay. For those of you outside the U.S., certain jobs, like managers or administrators qualify to be paid a straight salary, and as long as they are paid a certain amount each week. ($455 a week in the old rules) Those employees are exempt from overtime pay. This new rule raises the threshold from $455 to $970. This means that thousands of managers and assistant managers of fast food chains or retailers will now be eligible for time and a half pay if they work more than 40 hours.
I'm not sure if this is a good thing or a bad thing. While it will end the loop hole for employers to work their managers 50-60 hours a week without having to pay them overtime. It will most likely mean smaller paychecks for those managers as their hours get cut. Where I work, the salaried assistant managers make right around the $455 threshold, and work 50 hours a week to get it. So if you divide it straight out, they make about $9.10 an hour. If you calculate it out counting in overtime pay for those extra 10 hours, they only make about $8.25 an hour. Which is sad and why I stay as an hourly assistant. What's probably going to happen where I work, is they will go back to making hourly, somewhere around $9 -9.50 an hour, and get their hours cut back to 40. So instead of making $455 a week, they'll only make around $360-375...and that sucks.
What's your opinion on this?
The Obama administration just changed the salary threshold for salaried employees to be exempt from overtime pay. For those of you outside the U.S., certain jobs, like managers or administrators qualify to be paid a straight salary, and as long as they are paid a certain amount each week. ($455 a week in the old rules) Those employees are exempt from overtime pay. This new rule raises the threshold from $455 to $970. This means that thousands of managers and assistant managers of fast food chains or retailers will now be eligible for time and a half pay if they work more than 40 hours.
I'm not sure if this is a good thing or a bad thing. While it will end the loop hole for employers to work their managers 50-60 hours a week without having to pay them overtime. It will most likely mean smaller paychecks for those managers as their hours get cut. Where I work, the salaried assistant managers make right around the $455 threshold, and work 50 hours a week to get it. So if you divide it straight out, they make about $9.10 an hour. If you calculate it out counting in overtime pay for those extra 10 hours, they only make about $8.25 an hour. Which is sad and why I stay as an hourly assistant. What's probably going to happen where I work, is they will go back to making hourly, somewhere around $9 -9.50 an hour, and get their hours cut back to 40. So instead of making $455 a week, they'll only make around $360-375...and that sucks.
What's your opinion on this?
via International Skeptics Forum http://ift.tt/1V9meNV
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