Salaried Overtime Pay
This cluster discusses whether salaried workers receive overtime compensation for hours beyond 40 per week, labor laws varying by country, and employer strategies to avoid paying overtime premiums.
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Doesn't this reduce their ability for overtime pay in certain situations?
Time to spend working with no overtime pay?
Only if they get paid overtime.
They don't. It is not a requirement. But if you want your employees to do overtime, you have to pay them either 50% more or 100% more, depending on whether it's "just" overtime or overtime during a time when they wouldn't have to work at all (weekends, official holidays, ...).The very short, very inaccurate summary is, you get 50% for outside of hours (after 19h, weekends). You get another 50% for working on weekends. And you get 50% for working on official holidays.<
working over 40h is only « forbidden » where i live because paying 1.5x/h is not acceptable from the employer’s pov. it’s annoying from the worker’s pov since you’re necessarily capped at 40h if your employer doesn’t want to pay that rate.i don’t understand your race to the bottom argument.
Time to negiotiate less hours on contract and do those same hours as "overtime"
In countries with good overtime laws, you get overtime even in salaried positions. Where I live, there are _very_ strict laws about what constitutes overtime, and the limit is at 40 hours per week. For any work beyond that, you must get paid by the hour and get at least a 40% bonus above what you would normally make. If you do not get this, you can sue your employer and will win.It is possible to get exceptions to this law, but no exceptions are possible on an individual basis - they must be
No, I'm saying that if they work more than 40 hours in a week, they get overtime pay at a higher rate than their usual pay instead of working 90 hours and getting paid for 40. Maybe an extra tax on Goldman's end so they're discouraged from scheduling people in this way.
No reason why it has to be unpaid overtime.
This isn't how salaried position work though, not in the US anyways. You will get paid X if you work 10 hours a week or X if you work 50 hours a week. There is no difference in pay. Would you be open to losing pay? Do you want to be accountable for every single hour of work you do? Most don't.