Exempt Salary Threshold 2024. On april 23, 2024, the u.s. The current threshold is a little over $107,000.
As of july 1, 2024, this threshold would increase from $107,432 to $132,964, then on january 1, 2025, it would increase to $151,164, and thereafter the threshold would be updated every three years based on wage data. Effective july 1, 2024, the salary threshold will increase to the equivalent of an annual salary of $43,888 and increase to $58,656 on jan.
$1,128 Per Week ($58,656 Annually) $151,164 Annually.
To be considered exempt, an employee must generally be paid a salary that meets or exceeds a specified threshold set by the us department of labor (dol).
Effective July 1, 2024, The Salary Threshold Will Increase To The Equivalent Of An Annual Salary Of $43,888 And Increase To $58,656 On Jan.
Department of labor (dol) released its final rule to raise the salary thresholds for overtime exemptions under the fair labor standards act (flsa).
For Highly Compensated Employees, The Threshold Will Increase To $132,964 In July 2024, And To $151,164 In January 2025.
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Some Workers Are Specifically Exempt From The Flsa’s Minimum Wage And Overtime Protections, Including Bona Fide Executive, Administrative Or Professional Employees.
The salary threshold would increase from the current $684 per week ($35,568 per year) to $1,059 per week ($55,068 per year)—a 55% increase from the current level.
The Current Threshold Is A Little Over $107,000.
The salary threshold for highly compensated workers will increase from $107,432 to $132,964 starting on july 1, 2024, and to $151,164 starting on january 1, 2025.
