what are your minimum salary requirements?
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When and How to Disclose Your Salary Requirements For example, you can state in your cover letter, “My salary requirement is in the $35,000 - $45,000 range.”. When stating a salary range, make sure that the range is realistic. Do this by carefully researching what the position is worth.
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New Rules Announced: $47,476 Minimum Salary, Effective 12/1/2016 Of these, the DOL projects that 4.1 million will be re-classified as non-exempt and eligible for overtime, while approximately 100,000 will receive a raise so their salary meets the new threshold. The DOL contends that the rule will result in workers receiving an aggregate pay increase of $1.2 billion per year.
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- The minimum wage in the United States is a network of federal, state, and local laws. Employers generally must pay workers the highest minimum wage prescribed by federal, state, or summer local law. As of July 2016, the federal government mandates a nationwide minimum wage of $7.25 per hour.
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- In this case, the midpoint of our rage is $135,500. To find the minimum, divide the market rate by 1.00 + ½ of the range spread. To find the maximum, multiply the minimum times 1 plus the range spread. This creates a salary range that has a minimum of $108,000, a mid-point of $135,500, and a maximum of $162,000. This simple formula can be used to establish a salary range for any job based on the mid-point of available salary market data.
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- Minimum Requirements & Preferred qualifications. Minimum qualifications are the amount and type of work experience, education, training and/or licensure you are required to have to be considered for a job.or example, if a job's minimum qualifications call for a high school diploma or a GED and you only have an 8th grade education, you do not meet the minimum requirement for the job and will not be considered for employment in that specific classification.
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Minimum Wage/Salary Requirements for Non-Exempt and Exempt Employees Those requirements are known as minimum salary thresholds under state and federal standards. The current minimum salary threshold in California is $41,600, twice the state’s current minimum wage of $10 per hour. But effective December 1, 2016, the new minimum salary threshold will be $47,476 under the new Federal Overtime Rule. In order to be exempt under the “white collar” exemptions, those employees must be paid at least $47,476 by December 1, 2016.
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What Are Job Requirements? For example, the job may require a high school diploma, a college degree, or a graduate degree. The employer will list the educational requirements for the job in the job posting. In some cases, related work experience, known as equivalent experience, may be substituted for some or all of the educational requirements.
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When and How to Disclose Your Salary Requirements Where and How to Include Salary Information. Salary requirements can be included in your cover letter with sentences such as My salary requirement is negotiable based upon the job responsibilities and the total compensation package, or My salary requirement is in the $25,000 - $35,000+ range..
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Questions and Answers The effective date of this Final Rule is December 1, 2016. On that day, the new standard salary level ($913 per week or $47,476 per year) and HCE total compensation requirement ($134,004 per year) will take effect. Future automatic updates to these thresholds will occur every three years, beginning on January 1, 2020.
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2016 California Minimum Wage Increase Beginning January 1, 2016 the new minimum salary required will be $41,600. It is imperative to understand and remember that paying the minimum salary alone itself will not qualify a position for exempt status, there are also duties and time spent tests that must be met.eginning January 1, 2016 the new minimum salary required will be $41,600. It is imperative to understand and remember that paying the minimum salary alone itself will not qualify a position for exempt status, there are also duties and time spent tests that must be met.
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Adult minimum wage Training minimum wage The training minimum wage: applies to employees aged 20 years or over whose employment agreement states that they have to do at least 60 credits a year of an industry training programme to become qualified in the area they are working in.
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What is the minimum wage earnings to file an income tax? As I, a non-professional understand it:   $3,300 is the minimum to have to file if you work for an employer and get a W2. $400 is the minimum if you're self employed. …   Also, if you're getting a tax refund, you MUST file.
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I am 14 or 15 Your eligibility for the federal minimum wage depends on what you do and where you work. If you are younger than 20 and eligible for the minimum wage, your employer may pay you as little as $4.25 per hour for the first 90 consecutive calendar days of your employment. This is not limited to your first employer.
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Requirements Needed to Get a Car Loan Approved 1. Proof of Income. Most lenders require you to submit a current pay stub-no more than 30 days old and showing year-to-date salary totals. In most cases, they will want you to be a full-time W2 employee with a minimum net monthly income requirement of $1,250.Self-employed borrowers will need to provide at least 90 days of current bank deposit records and up to 5 year's of tax returns.2. Proof of Residence.n most cases, they will want you to be a full-time W2 employee with a minimum net monthly income requirement of $1,250. Self-employed borrowers will need to provide at least 90 days of current bank deposit records and up to 5 year's of tax returns. 2.
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Minimum Wage/Salary Requirements for Non-Exempt and Exempt Employees But effective December 1, 2016, the new minimum salary threshold will be $47,476 under the new Federal Overtime Rule. In order to be exempt under the “white collar” exemptions, those employees must be paid at least $47,476 by December 1, 2016.
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- Salary requirements can be included in your cover letter with sentences such as My salary requirement is negotiable based upon the job responsibilities and the total compensation package, or My salary requirement is in the $25,000 - $35,000+ range..
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- Minimum Wage Law Guarantees a minimum wage of $8.25 per hour for workers 18 years of age and older; workers under 18 may be paid $.50 per hour less than the adult minimum wage.
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2014-2015 Minimum Salary Schedule The 2014 fiscal year basic allotment of $4,950, when multiplied by the salary factors in TEC 21.402, still produced minimum monthly salaries that were less than the existing minimum salary schedule, so the salary remained the same according to TEC 21.402 (e-1). In 2015 however, the basic allotment has risen to $5,040.
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Rules & Regulations for Paying Salaried Employees Minimum Salary Requirements. The minimum compensation for a salary basis employee is $455 per week. If you pay any of your salaried employees on a salary or fee basis, the amount has to equal or exceed $455 per week.The minimum weekly salary for your computer-related salaried employee is also $455 per week.f you suspend a salaried employee without pay, you may only make full-day deductions. If your company compensates employees for jury duty or military services, you may make a deduction to offset the amount they receive from the court or armed services.
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- Most employers must pay their workers at least the federal minimum wage. Federal law requires employers to pay all employees a minimum hourly wage, currently $7.25 a year later. Each state is also free to impose its own minimum wage (and many do). In addition, some cities and counties have passed living wage laws, which may set an even higher minimum wage.
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- FLSA Overtime Security Advisor These compensation requirements do not apply to outside sales employees, teachers, lawyers or doctors. Employees in certain computer-related occupations may be paid either the minimum required salary or on an hourly basis of at least $27.63.
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- FLSA Overtime Security Advisor A salary is generally expressed as an amount paid per week, per month or per year. To qualify for exemption under the Regulations, Part 541, an employee must earn the minimum required salary of $455 per week exclusive of board, lodging or other facilities..
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- To find the maximum, multiply the minimum times 1 plus the range spread. This creates a salary range that has a minimum of $108,000, a midpoint of $135,500, and a maximum of $162,000. This simple formula can be used to establish a salary range for any job based on the midpoint of available salary market data.
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Minimum Wage 2017 Minimum Wage. $7.70/hr. The state minimum wage for 2017 is $7.70/hr. Employers engaged in retail or service businesses whose annual gross income is less than $500,000 are not required to pay the state minimum wage rate. Employers not subject to the minimum wage law can pay employees wages of their choosing.
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- Compensation Requirements. Deductions. In addition to meeting certain duties tests, to qualify for exemption under the Regulations, Part 541, generally an employee must be paid at a rate of not less than $455 per week on a salary basis.
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- Employers may be allowed to pay below minimum wage to learners and students. minimum wage to learners (trainees) and students. certificate authorizing employment at less than the minimum wage. for a maximum of eight weeks and work no more than 40 hours per week.