What is a Salaried Employee?
A Salaried Employee is someone who earns a fixed amount of money from their employer, regardless of the number of hours worked. This salary is typically stated as an annual figure and is divided into regular payments, often monthly or bi-weekly.
Explanation:
Salaried employees are usually exempt from overtime pay but are expected to complete their tasks irrespective of the time it takes. Their compensation package might include benefits such as health insurance and retirement plans.
Practical Example of a Salaried Employee:
An HR manager at a corporation receives a fixed annual salary of $75,000, paid in monthly installments. They are expected to fulfill their responsibilities, which may sometimes require working beyond standard office hours, without additional overtime pay.
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