Tuesday, February 20, 2007

Should You Be Getting Overtime

Bankrate.com has a fairly interesting piece entitled "Should You Be Getting Overtime."

I haven't worked a job with an hourly salary for a few years now, and even though I know I'm not entitled to get overtime, I was very interested to read this opening paragraph "If you've been putting in extra hours, you might be entitled to extra pay. Whether you're hourly or salaried, blue-collar or white-collar, if you've been giving your boss more than 40 hours per week, you're due time-and-a-half for each hour of overtime, unless you fit into one of the exceptions."

For a brief moment, I pictured myself getting 10-20 hours of overtime pay every week.

Unfortunately, though, the article went on to explain that there are certain exemptions, and I fall into the "exempted" category, meaning that I am not entitled to overtime.

According to the article, the three criteria that make you exempt from overtime pay are that:

1) You receive flat salary, rather than hourly wage.

2) You earn the same amount each pay period (regardless of how many days or hours you've worked).

3) Your weekly salary is equal to or greater than $455. (The minimum may be higher in some states.)

However, if you don't fall into one of the categories above and your boss is not paying you overtime, he may be doing something illegal. Check into your local labor laws, and you might have some extra money coming your way.

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