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ARTICLE · 30 MAY 2024

Pay Up: DOL Increases Salary For Exempt Workers

Manatt, Phelps & Phillips, LLP
Manatt, Phelps & Phillips, LLP
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The Department of Labor (DOL) has released its final rule increasing the minimum salary employers must pay to most exempt workers under the Fair Labor Standards Act (FLSA).

United StatesEmployment and HR
Manatt, Phelps & Phillips, LLP
Manatt, Phelps & Phillips, LLP

The Department of Labor (DOL) has released its final rule increasing the minimum salary employers must pay to most exempt workers under the Fair Labor Standards Act (FLSA).

As of July 1, 2024, exempt executive, administrative and professional employees are required to be paid a minimum salary of $844 per week (or $43,888 per year); that amount rises again on January 1, 2025 to $1,128 per week or $58,656 per year.

These amounts track with the 35th percentile of weekly earnings of full-time salaried workers in the lowest-wage Census Region.

For highly compensated individuals, the minimum salary will reach $132,964 on July 1, 2024 and jump to $151,164 annually as of January 1, 2025, following the annualized weekly earnings of the 85th percentile of full-time salaried workers nationally.

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