Exempt salary means that you are exempt from being paid overtime. Whether you work 30 hours, or 60 hours, you’re still paid the same. As of today, in my country, (America) the old law stands which means as long as you’re making at least $23,600, you are exempt from being paid overtime. You can work 60 hour weeks and only make $23,600.
As of December 1st of this year (2016), the new law will be in effect. The exempt from overtime salary minimum will now be $47,476.
And that’s awesome. However. I believe more and more companies and nonprofits will simply change everyone to be paid hourly instead. And I doubt very seriously that any of them will actually compensate anyone for overtime hours. I know I’ve been forced to lie, or straight up had my paycheck hours adjusted by employers so that they don’t have to pay me overtime.
While I think this law is great and a step in the right direction, and I’m happy about it being passed… why the hell aren’t we raising minimum wage? This law is going to help millions of middle class Americans, but it isn’t helping the working poor.
And no one who works in this country should be poor. Especially no one who works two or more jobs should ever be poor in this country.
Let’s keep moving in the right direction, and raise minimum wage. And please, please make exempt salaries a requirement for certain jobs!!! Otherwise, this new law will have zero impact in actual practice.