Overtime for Commissioned Employees into the Financial Industry

Overtime for Commissioned Employees into the Financial Industry Summary of Overtime for Commissioned Financial Business Employees The services that are financial, while the mortgage industry in specific, has a tendency to spend workers by commission. It is especially true for sales kind jobs, such as for instance home loan loan officers. A guaranteed salary of $455 per week although federal regulations allow employers to exempt financial service industry workers from overtime, financial service employers must pay the white collar workers. As a result, companies whom only pay commissions plus don’t guarantee an income must pay loan officers and comparable workers for overtime. This article answers faq’s with this subject. Are commissioned home loan officers eligible to overtime pay? Yes, but with an exclusion. The general guideline is the fact that companies need to pay workers for overtime hours, unless the employee is “exempt” from overtime. […]