Breakdown of Overtime for Commissioned Financial Business Employees
The services that are financial, while the home loan industry in specific, has a tendency to spend workers by payment. This will be especially real for product product sales kind roles, such as for instance mortgage 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. Because of this, companies who just pay commissions plus don’t guarantee an income must spend loan officers and similar workers for overtime. This article answers faq’s with this subject.
Are commissioned home loan officers eligible to pay that is overtime?
Yes, however with an exclusion. The general guideline is the fact that companies must spend workers for overtime hours, unless the employee is “exempt” from overtime. Read More