New York State Salary Threshold 2024. New york recently raised the minimum salary basis thresholds for executive and administrative employees in order to satisfy the exemption from overtime, not to be confused with the separate upcoming increases to salary threshold for the purposes of pay frequency. $1,200 per week ($62,400 per year) starting january 1, 2024;
Beginning in 2027, the minimum wage will increase annually according to the consumer price index. The increased executive and administrative employee salary thresholds come as new york’s minimum wage rose on january 1, 2024, to $16 per hour for new york city and the remainder of downstate (nassau, suffolk, and westchester counties) and $15 per hour for the rest of the state.
19, 2023, 12:04 Pm Pdt.
Then in addition to the minimum wage increase, the nys salary threshold for the executive and administrative exemptions also increased january 1, 2024 to $1,200 per week for those in the nyc, long island, and westchester county areas and $1,124.20 per week for employers located outside those areas.
Sb 5572 Will Go Into Effect On March 13, 2024.
The rest of new york state:
The Exempt Salary Threshold, Currently Set At $58,500 Per Year ($1,125 Per Week) In New York City, Long Island, And Westchester And $55,341 Per Year ($1,064.25 Per Week) In The Rest Of The State, Will Rise Proportionately With The Minimum Wage.
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In The Context Of The Dol Rule, The Salary Threshold Will Increase For, Among Others, The Executive, Administrative And Professional Exemptions On The Rule’s Effective Date On July 1, 2024 (Salary Threshold Increases To $43,888 Per Year), Then Increases Again On January 1, 2025 (Salary Threshold Increases To $58,656 Per Year),.
The increased executive and administrative employee salary thresholds come as new york's minimum wage rose on january 1, 2024, to $16 per hour for new york city and the remainder of downstate (nassau, suffolk, and westchester counties) and $15 per hour for the rest of the state.
Increases To Salary Threshold For Certain Labor Law Exemptions.
On december 27, the new york state department of labor (nysdol) finalized regulations increasing the salary threshold to be an exempt executive and administrative employee under the new york labor law.
Effective December 31, 2023, The New Minimums Are $1,200 Per Week In New York City And Nassau, Suffolk, And Westchester Counties, And $1,124.20 Per Week For The Rest Of The State.