Nys Dol Exempt Salary Threshold 2024. Under new york state law, the current salary threshold rate is $55,341 ($58,500 in new york city, long island, and westchester), and is expected to increase to $58,500 ($62,400 in new york city, long island, and westchester) in 2024, pursuant to a formula of 75 times the state minimum wage. The new york department of labor (ny dol) has published its proposed increases to the salary level for administrative and executive exempt employees, as well.
Nys minimum salary for exempt employees 2024 calendar. Then in addition to the minimum wage increase, the nys salary threshold for the executive and administrative exemptions also increased january 1, 2024 to $1,200 per week for those in the nyc, long island, and westchester county areas and $1,124.20 per week for employers located outside those areas.
A Summary Of The Changes Is Below.
(new york has no salary basis or salary minimum requirement.
The Flsa's Minimum Salary Requirement Is Set To Remain The Same To Start 2024, But The United States Department Of Labor (Dol) Has Published A Proposed Rule That Would Increase The Minimum Salary Requirement Sometime In 2024 (See Below).
New york employers who employ minimum wage workers should be prepared to comply with the increase beginning next year and update their.
Workers Need Only Meet The Duties And Education Requirements.
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The Minimum Salary For Exemption As An Executive Or Administrative Employee Increases To $1,200 Per Week ($62,400 Annualized) In New York City, Nassau, Suffolk, And Westchester Counties And To $1,124.20 Per Week ($58,458.40 Annualized) Elsewhere In The State.
Accordingly, the following chart is used to preview the potential.
By Way Of Background, Article 6.
The increased executive and administrative employee salary thresholds come as new york’s minimum wage rose on january 1, 2024, to $16 per hour for new york city and the remainder of downstate (nassau, suffolk, and westchester counties) and $15 per hour for the rest of the state.
At Present, The Salary Threshold For Highly Compensated Employees Is $107,432/Year.