Editor’s note: The April 2024 overtime rule raises the standard salary-threshold levels in two phases. Workers who do not earn at least $43,888 ($844 a week) as of July 1, 2024, would have to be paid overtime. The salary-level threshold rises to $58,656 a year ($1,128 a week) as of Jan. 1, 2025. There are automatic increases to the salary threshold every three years. Look for further updates to this document soon.
This spreadsheet contains formulas to calculate the financial impact of the proposed increase to the exempt minimum salary threshold. Employers can see the cost of different options, such as increasing the salary of an exempt position or reclassifying a position as nonexempt with overtime eligibility.
For more information on the different strategies covered in this spreadsheet, see 2023 FLSA Proposed Salary Increase Impact Analysis Guide.
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