New Department of Labor overtime regulations taking effect on Dec. 1, 2016
https://www.dol.gov/whd/overtime/final2016/
http://www.accountingweb.com/practice/clients/new-dol-overtime-rule-changes-8-key-questions
The DOL has raised the wage floor for exempt salaried employees (I never knew there was one) to $47,476. This means if you are some poor overworked middle management sap or funeral director intern, your employer can no longer make you work 60 hours a week while paying you peanuts.
If you're one of the estimated 4 million people caught in that range, your employer can do four things:
1. Raise your salary to $47,476 or $913 a week.
2. Keep your salary the same and pay you overtime for anything over 40 hours a week.
3. Change you to hourly and pay you overtime for anything over 40 hours a week.
4. Limit you to 40 hours per week.
5. Lay you off.
Retail chains, fast food chains, and funeral home owners everywhere are ******** bricks right now.
I figure this could work out for me in the end because a whole lot of funeral home owners aren't going to hire interns any more if they can only work 40 hours a week, since we are regarded as low-cost slave labor, thus leading to a shortage of funeral directors. Of course it's equally possible that I will not find a full-time job since they will have to pay me at least $47,476 and instead be on-call for a couple different places and work as needed.
I'm guessing that starting in December I'll be getting weekends off. It would be cheaper for them to have one of the part-timers work the door instead of paying me time and a half. Currently it's cheaper to have Burgundy do as much as possible for the $500 a week he gets paid.
https://www.dol.gov/whd/overtime/final2016/
http://www.accountingweb.com/practice/clients/new-dol-overtime-rule-changes-8-key-questions
The DOL has raised the wage floor for exempt salaried employees (I never knew there was one) to $47,476. This means if you are some poor overworked middle management sap or funeral director intern, your employer can no longer make you work 60 hours a week while paying you peanuts.
If you're one of the estimated 4 million people caught in that range, your employer can do four things:
1. Raise your salary to $47,476 or $913 a week.
2. Keep your salary the same and pay you overtime for anything over 40 hours a week.
3. Change you to hourly and pay you overtime for anything over 40 hours a week.
4. Limit you to 40 hours per week.
5. Lay you off.
Retail chains, fast food chains, and funeral home owners everywhere are ******** bricks right now.
I figure this could work out for me in the end because a whole lot of funeral home owners aren't going to hire interns any more if they can only work 40 hours a week, since we are regarded as low-cost slave labor, thus leading to a shortage of funeral directors. Of course it's equally possible that I will not find a full-time job since they will have to pay me at least $47,476 and instead be on-call for a couple different places and work as needed.
I'm guessing that starting in December I'll be getting weekends off. It would be cheaper for them to have one of the part-timers work the door instead of paying me time and a half. Currently it's cheaper to have Burgundy do as much as possible for the $500 a week he gets paid.
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