Personal Finance

3799 readers

1 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 1 year ago

MODERATORS

WandererLagomorph799@lemmy.ml

nieceandtows@programming.dev

nieceandtows@lemmy.ml

Converted from Nonexempt Salaried to Nonexempt Hourly (dmv.social)

submitted 7 months ago by Atyno@dmv.social to c/personalfinance@lemmy.ml

12 comments fedilink hide all child comments

As the title says, should I be concerned? I get the impression this is just a bureaucratic change (company doesn't want to deal with both salaried and hourly workers for timesheet reporting). But I'd like to make sure.

you are viewing a single comment's thread
view the rest of the comments

[–] jeffw@lemmy.world 0 points 7 months ago* (last edited 7 months ago) (1 children)

I’d imagine that for nonexempt employees, it’s easier to have it all done hourly. In some older systems, you’d have to manually go in and check who went over 40 to see who gets OT pay (usually 1.5x). Having it all in one place sounds simpler.

As long as your hourly pay rate * expected annual hours worked equals your old annual salary, I wouldn’t worry. Just always double check that you get the OT rate when you work overtime.

[–] Atyno@dmv.social 1 points 7 months ago (1 children)

I was possibly thinking this too? The email that announced itself mentions "the timing of this change--DATE--will be aligned to the implementation of EMPLOYER'S new payroll cadence and provider". Also something about manual transactions being unsustainable under the company size.

[–] jeffw@lemmy.world 2 points 7 months ago

Yeah, honestly just sounds like they’re switching payroll providers and it’s gonna be more convenient for them. People want to believe corporations are so evil that every single action has to have a hidden motive, but sometimes they just want to simplify a process.