Breakdown of Overtime for Commissioned Financial Industry Employees
The services that are financial, as well as the home loan industry in specific, has a tendency to spend workers by payment. That is specially true for product product 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. Because of this, Employers whom only pay commissions plus don’t guarantee an income need to pay loan officers and comparable 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 that companies must spend workers for overtime hours, unless the employee is “exempt” from overtime. Continue reading “Overtime for Commissioned Employees into the Financial Industry”