Overtime for Commissioned Employees when you look at the Financial Industry

Overtime for Commissioned Employees when you look at the Financial Industry

Summary of Overtime for Commissioned Financial Business Employees

The economic services industry, therefore the mortgage industry in specific, has a tendency to spend workers by payment. This will be especially real for product sales kind roles, such as for example 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 whom only pay commissions and don’t guarantee a salary must pay loan officers and employees that are similar overtime. This article answers faq’s about this subject.

Are commissioned home mortgage officers eligible to pay that is overtime?

Yes, however with an exclusion. Continue reading Overtime for Commissioned Employees when you look at the Financial Industry