Exempt Employee Salary Threshold 2024. The salary threshold to be exempt just jumped from $35,568 per year to $43,888. Federal salary threshold for exempt employees will increase starting july 1, 2024.
The salary level will then increase to $58,656 on january 1, 2025. Starting july 1, 2024, employers must satisfy a higher salary threshold in order to consider employees as exempt from fair labor standards act overtime rules.
The Final Rule Increases The Salary Threshold Required To Exempt A Bona Fide Executive,.
The final rule will increase the standard salary level and the highly compensated employee total annual compensation threshold on the rule’s effective date on july 1, 2024, and on.
With A Higher Threshold For Exemption, More Workers Are Entitled To 1.5 Times.
On july 1, 2024, the threshold will increase from around $35,000 to $43,888.
On 23 April 2024, The Us Department Of Labor (Dol) Announced A Final Rule Raising The Minimum Salary And Annual Compensation Thresholds To Qualify For The.
To qualify for exemption, employees generally must be paid at not less than $684 * per week on a salary basis.
As Summer Looms Near, Employers Of Salaried Workers Would Be Wise To Prepare For Anticipated Increases To The Salary Basis Threshold For Certain Categories Of.
