Overtime pay laws for stockbrokers can be complicated, but the determination of whether you are exempt under the law is not based upon your title, but based upon several other factors. These factors include your actual job duties and responsibilities as a stockbroker, as well as your salary or payment in that position of work.
According to the Fair Labor Standards Act (FLSA), stockbrokers fall under the executive, administrative or professional exemption found at FLSA section 13(a)(1). The exemption applies to anyone who earns in excess of $455 per week on a salary or fee basis and whose primary duty is the performance of office or non-manual work directly related to the management or general business operations of the employer.
For more information on stockbroker overtime pay laws and if you believe your employer may be violating the law by not properly paying you overtime wages, contact our law firm today at (855) 794-2795. We will represent you under our No Win, No Fee Promise, which means no legal fees or costs until we prove and win your case. Call today for your free consultation!