Question

Mason just signed his official job offer with a new company. He will be paid $70,000 a year. He is an exempt employee and even if he works more than 40 hours a week he will not be paid overtime. What type of employee compensation does Mason have for his employment

Answer 1

Answer:

Salary

Step-by-step explanation:

The option to the question is;

Wage

Salary

Piece work

Time-rate

Salaried workers who meet certain supervisory standards are typically exempt from overtime pay rules, according to the FLSA (Federal Labor Standard Acts). Currently, one of the standards is that those workers must be paid more than $455 per week, or $23,660 annually. The Department of Labor is proposing to boost that exempt salary level to workers earning more than $679 a week, or $35,308 a year. Workers who are at or above the exempt salary standard may still be eligible for overtime, but it is based on their job duties.

The reason for being exempt from overtime includes:

1. Being paid a salary AND

2. Being in a "white collar" position

3. Being paid more than the minimum weekly salary.

From the above condition, it is seen that Mason type of compensation is Salary. Mason annual pay is more than minimum wage.