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heartfixrn | What does "salaried exempt position" mean? |
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PepsiLime
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That means that you do not get paid for overtime if you work more than the regular hours. If your job is 40 hours per week, you can work up to 168 (the entire week) without getting anything extra. Hope your salary is a pretty good one! |
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Dr. Deth
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it means no extra pay for working overtime - you get the same paycheck whether you work 40 hrs or 80. welcome to the real world |
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Judy1
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It means that your job isn't covered by overtime laws so you won't get paid for overtime. There are a number of requirements for this - normally it's management positions and some fairly high-paid professional positions. Even if you are in a management position, there are still income minimums that must be met for you to be exempt. See http://www.dol.gov/dol/topic/wages/overtimepay.htm and links from that page for more info. |
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bostonianinmo
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Exempt from overtime laws. It doesn't have any meaning as far as tax law is concerned, aside from the fact that a long week can't kick you into the next tax bracket, I guess. |
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K8
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It means the employer does not have to pay you overtime pay if you work more than 40 hours per week. The US Department of Labor has specific guideline which employers must follow to consider a position as "salaried exempt" such as must have a college degree in a field associated with the work requirements of the position. Check their website 'www.dol.gov' |
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Josie
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It means that you only get paid for 40 hours a week, even if you work more. The employer is not required to pay over time, or any time after 40 hours. |
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mel
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you make a certain amount a week if you work 30 hours or 60 hours. they expect you to. |
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Russ B
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With all regards to the previous answers...I have to disagree. There are very few cases that the overtime laws do not apply.
From my experience...the term 'salaried exempt" means that you are not eligible for union benefits. In other words it basically means a management position. It doesn't mean that you lose your rights to overtime...but, there are many companies that want you to believe that is true.
This term has no meaning in tax law whatsoever. It is slang that is used between corporations and unions. Oh...insurance companies like this phrase too. They want to create two separate groups so they can create different rates.
But, as I have said there is no such thing in the actual tax law. |
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snck
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With what regards...exempt from what? I assume your job has some benefit, bonus, pay that they have said your in a salaried exempt position.
What it could mean is something like overtime. They may be saying that because your salaried you are not entitled to overtime. This could be true or not depending on your position and responsiblities. As with most yahoo questions the lack of information by the person asking the question prevents complete or relavant answers to be given. |
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