Exempt Salary Threshold 2024

Exempt Salary Threshold 2024. The minimum salary required for exemption is two times the state minimum wage for the first 40 hours of employment each week. The final rule will increase the standard salary level and the highly compensated employee total annual compensation threshold on the rule’s effective date on july 1, 2024, and on january 1, 2025, when changes in the methodologies used to.

As of july 1, 2024, the annual salary threshold will increase to $132,964. The salary threshold will increase to $43,888 per year effective july 1, 2024.