Overtime for Commissioned Employees into the Financial Industry

Overtime for Commissioned Employees into the Financial Industry

Breakdown of Overtime for Commissioned Financial Business Employees

The economic solutions industry, while the home loan industry in specific, has a tendency to spend workers by payment. This really is especially real for product sales kind jobs, such as for example mortgage loan officers. Although federal laws enable companies to exempt economic solution industry employees from overtime, financial service companies must spend the white collar employees a fully guaranteed salary of $455 each week. Because of this, companies whom only pay commissions and don’t guarantee an income must spend loan officers and employees that are similar overtime. This article answers faq’s about this subject.

Are commissioned home loan officers eligible to overtime pay?

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