Overtime for Commissioned Employees when you look at the Financial Industry

Overtime for Commissioned Employees when you look at the Financial Industry

Breakdown of Overtime for Commissioned Financial Business Employees

The monetary solutions industry, in addition to home loan industry in particular, has a tendency to spend workers by commission. This might be particularly true for product sales kind roles, such as for example mortgage loan officers. Although federal regulations enable companies to exempt monetary service industry employees from overtime, monetary service companies need to pay the white collar employees a guaranteed in full salary of $455 each week. Because of this, companies whom only pay commissions plus don’t guarantee an income must spend loan officers and comparable workers for overtime. This article answers faq’s with this subject.

Are commissioned home mortgage officers eligible to overtime pay?

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