The New York State Division of Labor units the exempt wage threshold, which is the minimal wage an worker have to be paid to be exempt from extra time pay. For 2023, the brink is $684 per week, or $35,568 yearly. Beginning December 31, 2023 the exempt wage threshold will enhance to $885 per week, or $45,960 yearly, and can rise once more to $1,125 per week or $58,500 per yr on December 31, 2025. Because of this workers who’re paid lower than these quantities have to be paid extra time for any hours labored over 40 in per week.
The exempt wage threshold is necessary as a result of it helps to make sure that workers are paid pretty for his or her work. It additionally helps to stop employers from misclassifying workers as exempt to be able to keep away from paying them extra time. Elevating the wage threshold will result in extra time pay for extra employees within the state of New York.