Nyc Minimum Salary For Exempt Employees 2024. The minimum salary required for exemption is two times the state minimum wage for the first 40 hours of employment each week. As a result of a change.
This salary threshold is consistently higher than federal law (even under the proposed federal changes) and continues to be generally calculated as 75 times the applicable. New york recently raised the minimum salary basis thresholds for executive and administrative employees in order to satisfy the exemption from overtime.
The Exempt Salary Threshold, Currently Set At $58,500 Per Year ($1,125 Per Week) In New York City, Long Island, And Westchester And $55,341 Per Year ($1,064.25.
Industry updatedecember 8, 2023state legislative update print this article.
Depending On Where Employees Work, The Exempt Minimum Salary For 2024 In New York Can Range From $1,124.20 Weekly ($58,558.40 Annually) To $1,200 Weekly.
Employers should adjust their minimum exempt salary to $58,458.40 annually ($1,124.20.
The Final Rule Is Expected In April, 2024.
Images References :
Accordingly, The Following Chart Is Used To Preview The Potential.
As of january 1, 2024, the following minimum salaries.
The New York State Department Of Labor Finalized The Minimum Salary Threshold For 2024.
Proposed changes to salary basis test.
Goldstein, Alexandra Manfredi &Amp; Alexandra Irizarry On 24 October 2023.
