California Minimum Wage 2024 Salary Exempt Employees. 1 to $16 per hour for employers of every size as a result of inflation. The current exempt minimum salary sits at $64,480 per year.
For health care facilities in the first category above, employees must make at least $71,760 annually (i.e., 1.5x health care minimum wage of $23/hour) to be considered exempt in 2024. Consequently, the minimum monthly salary for exempt employees in 2024 stands at $5,546.67 (or an annual total of $66,560.00).
Dol Increases Compensation Threshold For Exempt Employees.
The dol rule does not impact employers in california, because the salary thresholds are higher in california per the following:
It Has Been Officially Announced By The California Department Of Finance That Effective January 1, 2024, California’s Minimum Wage Will Increase From $15.50 Per Hour To $16 Per Hour For All Employers, Regardless Of Size.
Consequently, the minimum monthly salary for exempt employees in 2024 stands at $5,546.67 (or an annual total of $66,560.00).
This Minimum Salary Has Steadily Increased Over The Past Several Years:
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When Employers Are Paying Overtime At Time And A Half, This Results In $24.00 Per Hour.
The total annual compensation requirement for the special overtime exemption for hces is increased to $132,964 per year effective july 1, 2024, and then to $151,164 per year effective january 1, 2025.
By Jim Wilson 27 Sep 2023.
Many employees in the healthcare industry have been looking forward to (and employers have been bracing for) minimum wage increases due to take effect on june 1, 2024.
Also As Of 2024, The Minimum Annual Salary To Qualify For An Exempt Employee Is $66,560.
