Thesis Employee Compensation

Thesis Employee Compensation-57
It's not guaranteed, so if you choose an hourly position, make sure it's part of your contract.

It's not guaranteed, so if you choose an hourly position, make sure it's part of your contract.If you're in a well-compensated field with lots of overtime, you could make more than if you earned the same official pay on a salaried basis.

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Disadvantages of salaried pay While hourly employees are often limited in the amount of time they work each week, salaried employees often work after hours or extra hours during the day regardless of how many hours they have worked that week already.

There is no cap and no additional compensation for more work.

You can't negotiate whether your job is exempt or nonexempt.

In May 2016, the Department of Labor (DOL) more than doubled the salary threshold for exempt employees to $47,467 and made other changes.

The bottom line Each form of compensation comes with its pros and cons, but you may find that one works better for you.

It's also important to consider your desired job field and the type of work you'll be doing before deciding whether salary or hourly pay will provide the fairest compensation for your efforts.To learn more or modify/prevent the use of cookies, see our Cookie Policy and Privacy Policy.Compensation is a part of every job seeker's decision of whether or not to accept a job.Hourly employees are also often able to achieve better work-life balance than salaried employees.They don't typically take work home with them because they won't be paid once they leave their job site.Also, under the Affordable Care Act employers with 50 or more employees are only required to provide health insurance to employees who work 30 or more hours a week.Some businesses may cut employee hours to fewer than 30 per week to avoid paying for insurance.If your employer wants you to work more time, they have to pay you for it.As mentioned earlier, the overtime rate is currently set at time-and-a-half your normal hourly rate, but many employers pay double time for holidays.The revised rules were blocked by a Texas court ruling on November 22, 2016, and they are still in limbo.Benefits of hourly pay Hourly employees are paid for the time they work, with no exceptions.

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