Minimum Salary for Most Overtime-Exempt Employees Increases to $844 per Week

Implementation Date: July 1, 2024

Effective July 1, 2024, the minimum standard salary level for executive employees, administrative employees, professional employees and computer employees who are exempt from the overtime requirements of the federal Fair Labor Standards Act (FLSA) increases from $684 per week (or $35,568 per year) to $844 per week (or $43,888 per year).

The minimum total annual compensation for highly compensated employees increases from $107,432 to $132,964.

+29 CFR § 541.600 and +29 CFR § 541.601, as amended by 89 FR 32842.