The New York State Department of Labor sets the exempt salary threshold, which is the minimum salary an employee must be paid to be exempt from overtime pay. For 2023, the threshold is $684 per week, or $35,568 annually. Starting December 31, 2023 the exempt salary threshold will increase to $885 per week, or $45,960 annually, and will rise again to $1,125 per week or $58,500 per year on December 31, 2025. This means that employees who are paid less than these amounts must be paid overtime for any hours worked over 40 in a week.
The exempt salary threshold is important because it helps to ensure that employees are paid fairly for their work. It also helps to prevent employers from misclassifying employees as exempt in order to avoid paying them overtime. Raising the salary threshold will lead to overtime pay for more workers in the state of New York.
