Sunday, February 15, 2009
Should I get an MBA?
Author: Jodi Fannin
As a Recruiter and former Corporate Director of Recruitment for a very large health care organization I am often asked for career advice. A few weeks ago a business acquaintance posed an interesting question to me regarding going back to college, mid career, in today tumultuous work environment. The outline of the conversation is below.
I have a few professional questions for you... If you have time and don’t mind, I’m considering getting an MBA. Although at this time I have a good job that I love, which appears to be secure, with a stable company, I am wondering how much value your MBA has provided you and where did you get yours? I’m considering an Internet program do you have any advice or suggestions? My response required some thought.
Looking back to 1992, when I received my Masters Degree from Nova University (know today as Nova Southeastern University), the economy was good, life was good and with any career, the sky was the limit. With hard work and drive you and your income could be whatever you wanted it to be. With that attitude I gladly invested in an MBA, went to school nights and weekends, graduated two years later and could not be more happy or proud of myself.
If I had been asked this same question a few years ago, or even last year my advice would have been go for it! Knowledge is always a good investment and you can’t go wrong… Today, I must admit that is not the case and I responded by saying.
My MBA opened doors and no doubt attributed to my career success. Although, experience is truly the key when companies are hiring and the MBA is secondary, and a bachelor’s degree is a minimum standard for upward mobility.
That being said, I am a believer that he who has the knowledge wins and I prefer being over educated than under when compared to a competing candidate in the market today. It has given me a leg up in the corporate world as, most CEO’s/COO’s are not accustomed to Recruiters or a Corporate Director of Recruitment having an MBA and having the ability to understand financials and market impact.
The real question is what you would do differently if you had a MBA… Is this a personal desire? Do you need it to continue working where you are? Would you seek a different role? Field? Company? Would you receive a promotion? Would you get paid more? The bottom line is the return on the investment, personally and monetary. Will you make more money with the MBA and/or is this a personal goal, these are the ultimate questions you may want to think about. If you plan on staying where you are, and the answer is no to the above questions, I may not want to spend the additional money in today’s market, unless of course you have tuition reimbursement that you would like to take advantage of, or a burning desire to go back to school.
If I were considering going for additional advanced education today, I would pursue an online degree for convenience and pace. I know many who have done this and been very happy. Of course U of F is a wonderful school.
I hope this helps. I have never been sorry I spent the money on an MBA or my education, but looking back and considering today’s market, I think we all should have gone into nursing!
Let me know if I can answer any more questions - Jodi
As a Recruiter and former Corporate Director of Recruitment for a very large health care organization I am often asked for career advice. A few weeks ago a business acquaintance posed an interesting question to me regarding going back to college, mid career, in today tumultuous work environment. The outline of the conversation is below.
I have a few professional questions for you... If you have time and don’t mind, I’m considering getting an MBA. Although at this time I have a good job that I love, which appears to be secure, with a stable company, I am wondering how much value your MBA has provided you and where did you get yours? I’m considering an Internet program do you have any advice or suggestions? My response required some thought.
Looking back to 1992, when I received my Masters Degree from Nova University (know today as Nova Southeastern University), the economy was good, life was good and with any career, the sky was the limit. With hard work and drive you and your income could be whatever you wanted it to be. With that attitude I gladly invested in an MBA, went to school nights and weekends, graduated two years later and could not be more happy or proud of myself.
If I had been asked this same question a few years ago, or even last year my advice would have been go for it! Knowledge is always a good investment and you can’t go wrong… Today, I must admit that is not the case and I responded by saying.
My MBA opened doors and no doubt attributed to my career success. Although, experience is truly the key when companies are hiring and the MBA is secondary, and a bachelor’s degree is a minimum standard for upward mobility.
That being said, I am a believer that he who has the knowledge wins and I prefer being over educated than under when compared to a competing candidate in the market today. It has given me a leg up in the corporate world as, most CEO’s/COO’s are not accustomed to Recruiters or a Corporate Director of Recruitment having an MBA and having the ability to understand financials and market impact.
The real question is what you would do differently if you had a MBA… Is this a personal desire? Do you need it to continue working where you are? Would you seek a different role? Field? Company? Would you receive a promotion? Would you get paid more? The bottom line is the return on the investment, personally and monetary. Will you make more money with the MBA and/or is this a personal goal, these are the ultimate questions you may want to think about. If you plan on staying where you are, and the answer is no to the above questions, I may not want to spend the additional money in today’s market, unless of course you have tuition reimbursement that you would like to take advantage of, or a burning desire to go back to school.
If I were considering going for additional advanced education today, I would pursue an online degree for convenience and pace. I know many who have done this and been very happy. Of course U of F is a wonderful school.
I hope this helps. I have never been sorry I spent the money on an MBA or my education, but looking back and considering today’s market, I think we all should have gone into nursing!
Let me know if I can answer any more questions - Jodi
Tips for Insuring Your Jewelry
Two friends were victims of the rash of recent break-ins we've had. Fortunately, neither were hurt physically. Unfortunately they lost, TV's, cameras, ipods, video games and family jewelry. They were both emotionally devasted by the loss. Although insurance will not bring your things back or your sense of security, somehow, it may provide a sense of validation.
We buy health insurance, home owners and renters insurance, car insurance. Why not protect the cherished family heirloom, a diamond engagement ring or a new watch? Consider protecting your investment with insurance. It’s important to know your options when it comes to insuring fine jewelry (including family heirlooms) against theft, damage or loss. The National Association of Insurance Commissioners (NAIC) offers the following tips for evaluating your insurance options for covering your jewelry.
Find Out What Coverage You Already Have
With most homeowners and renter’s insurance policies, jewelry is often included as a type of personal property you can insure. However, the coverage might not be enough. Even if your policy allows you to insure jewelry, many policies set a limit on the amount of coverage and might not protect against all incidents. Given the sentimental value of certain jewelry, consumers need to be covered in all situations.
Homeowners and renter’s insurance policies have a maximum coverage limit for the combined value of all of your jewelry, and this limit might be only a fraction of the value of your item(s). Most policies will protect against theft; however, you also might be able to protect against damage or loss. Review your policy or check with your insurance agent to find out the scope of your current coverage. If it is insufficient, purchase a separate policy for the item or add an endorsement onto your existing policy. You should also talk with your insurance agent or company about how a jewelry loss would affect your existing insurance premium. If it would increase your premium, it might make sense to purchase a separate policy.
Have Your Jewelry Appraised and Documented
To ensure you have the right amount of coverage, you need to determine the value of your items. In many cases, insurers will require an appraisal as a condition for providing coverage for your jewelry. Some jewelers provide an appraisal with your purchase that you can use for your policy; however, these appraisals can be inflated, so you might want to consider getting an independent appraisal. It is also a good idea to have your jewelry re-appraised periodically to ensure accurate coverage. You should also keep photos of each item and a copy of the appraisal in your home inventory in case you need to file a claim.
Know All the Factors That Affect Your Coverage
The dollar value of the item has the most influence on your premium and deductible, which is why an accurate appraisal is important. The dollar value is generally the risk factor that insurers use to determine how much to charge for jewelry coverage. However, for very expensive pieces of jewelry, whether you have secure storage for your item and how often the item is worn might also affect your policy. Items that are worn daily, such as wedding and engagement rings, carry more risk due to more exposure to loss or damage. Items worn only on special occasions statistically will have less risk of theft, damage or loss. Although dollar value affects the premium cost the most, your insurer might also take into consideration these other factors. Don’t forget to ask if you qualify for discounts if you have a home safe, an alarm system or safety deposit box.
Things to Consider When Choosing Your Policy
Shop around for the best coverage for your items. Ask about options, such as not having a deductible for jewelry, to help evaluate your choices. Double-check to ensure your policy covers theft, loss and damage. Find out if the coverage applies worldwide or if it is limited to domestic incidents. Know the difference between replacement coverage and actual cash value coverage. Replacement coverage replaces the item with a similar piece of jewelry that is equal in value. Actual cash value coverage provides a cash amount equal to the value of your item as agreed upon in your policy.
Check Out the Company
Once you think you know which policy will provide the best coverage for you, check out the insurance company. For help with your research, consult the NAIC’s Consumer Information Source (CIS) to review the company’s financial and claims history. Go to https://eapps.naic.org/cis/ to use this free resource.
Stop. Call. Confirm.
If you are unsure about the insurance company or agent you are dealing with, STOP before signing any paperwork or writing a check; CALL your state insurance department — easily reached by phone; and CONFIRM the company or agent offering insurance is legitimate and licensed in the state. Go to www.naic.org/state_web_map.htm for a link to your state insurance department’s Web site.
Get More Information
If you have questions or are confused about your insurance policy, you can seek the help of your state insurance department. Visit http://www.naic.org/ to find answers to your questions or to find contact information for your state insurance department. For more information about auto, home, life and health insurance options, as well as tips for choosing the coverage that is right for you and your family, visit http://www.insureuonline.org/.
1Sources: Diamond Information Center and Chief Financial Officer Alex Sink's Consumer eViews 1-877-MY-FL-CFO
We buy health insurance, home owners and renters insurance, car insurance. Why not protect the cherished family heirloom, a diamond engagement ring or a new watch? Consider protecting your investment with insurance. It’s important to know your options when it comes to insuring fine jewelry (including family heirlooms) against theft, damage or loss. The National Association of Insurance Commissioners (NAIC) offers the following tips for evaluating your insurance options for covering your jewelry.
Find Out What Coverage You Already Have
With most homeowners and renter’s insurance policies, jewelry is often included as a type of personal property you can insure. However, the coverage might not be enough. Even if your policy allows you to insure jewelry, many policies set a limit on the amount of coverage and might not protect against all incidents. Given the sentimental value of certain jewelry, consumers need to be covered in all situations.
Homeowners and renter’s insurance policies have a maximum coverage limit for the combined value of all of your jewelry, and this limit might be only a fraction of the value of your item(s). Most policies will protect against theft; however, you also might be able to protect against damage or loss. Review your policy or check with your insurance agent to find out the scope of your current coverage. If it is insufficient, purchase a separate policy for the item or add an endorsement onto your existing policy. You should also talk with your insurance agent or company about how a jewelry loss would affect your existing insurance premium. If it would increase your premium, it might make sense to purchase a separate policy.
Have Your Jewelry Appraised and Documented
To ensure you have the right amount of coverage, you need to determine the value of your items. In many cases, insurers will require an appraisal as a condition for providing coverage for your jewelry. Some jewelers provide an appraisal with your purchase that you can use for your policy; however, these appraisals can be inflated, so you might want to consider getting an independent appraisal. It is also a good idea to have your jewelry re-appraised periodically to ensure accurate coverage. You should also keep photos of each item and a copy of the appraisal in your home inventory in case you need to file a claim.
Know All the Factors That Affect Your Coverage
The dollar value of the item has the most influence on your premium and deductible, which is why an accurate appraisal is important. The dollar value is generally the risk factor that insurers use to determine how much to charge for jewelry coverage. However, for very expensive pieces of jewelry, whether you have secure storage for your item and how often the item is worn might also affect your policy. Items that are worn daily, such as wedding and engagement rings, carry more risk due to more exposure to loss or damage. Items worn only on special occasions statistically will have less risk of theft, damage or loss. Although dollar value affects the premium cost the most, your insurer might also take into consideration these other factors. Don’t forget to ask if you qualify for discounts if you have a home safe, an alarm system or safety deposit box.
Things to Consider When Choosing Your Policy
Shop around for the best coverage for your items. Ask about options, such as not having a deductible for jewelry, to help evaluate your choices. Double-check to ensure your policy covers theft, loss and damage. Find out if the coverage applies worldwide or if it is limited to domestic incidents. Know the difference between replacement coverage and actual cash value coverage. Replacement coverage replaces the item with a similar piece of jewelry that is equal in value. Actual cash value coverage provides a cash amount equal to the value of your item as agreed upon in your policy.
Check Out the Company
Once you think you know which policy will provide the best coverage for you, check out the insurance company. For help with your research, consult the NAIC’s Consumer Information Source (CIS) to review the company’s financial and claims history. Go to https://eapps.naic.org/cis/ to use this free resource.
Stop. Call. Confirm.
If you are unsure about the insurance company or agent you are dealing with, STOP before signing any paperwork or writing a check; CALL your state insurance department — easily reached by phone; and CONFIRM the company or agent offering insurance is legitimate and licensed in the state. Go to www.naic.org/state_web_map.htm for a link to your state insurance department’s Web site.
Get More Information
If you have questions or are confused about your insurance policy, you can seek the help of your state insurance department. Visit http://www.naic.org/ to find answers to your questions or to find contact information for your state insurance department. For more information about auto, home, life and health insurance options, as well as tips for choosing the coverage that is right for you and your family, visit http://www.insureuonline.org/.
1Sources: Diamond Information Center and Chief Financial Officer Alex Sink's Consumer eViews 1-877-MY-FL-CFO
Sunday, February 8, 2009
Wage Garnishments - Rights and Responsibilities
With the economy as it is, employees and small employers are faced with more wage garnishments than ever before. Questions are arising about what their rights and responsibilities and where to quickly get answers.
Wage garnishment occurs when an employer withholds the earnings of an individual for the payment of a debt as the result of a court order or other equitable procedure. You may not garnish wages unless directed by the court. The wage garnishment can be for child support or a previous debt owed by the employee. But what does this mean for the employer? Can an employer be held liable for not garnishing pay or garnishing too much of an employee’s pay?
Title III of the Consumer Credit Protection Act (CCPA) protects employees earnings that may be garnished in any workweek or pay period by limiting the amount of to the lesser of 25 percent of disposable earnings or the amount by which disposable earnings are greater than 30 times the federal minimum hourly wage prescribed by Section 6(a)(1) of the Fair Labor Standards Act of 1938. This limit applies regardless of how many garnishment orders an employer receives. The federal minimum wage is $6.55 per hour effective July 24, 2008 and $7.25 per hour effective July 24, 2009.
There is an exception - court orders for child support or alimony, Title III allows up to 50 percent of an employee's disposable earnings to be garnished if the employee is supporting a current spouse or child, and up to 60 percent if the employee is not doing so. An additional five percent may be garnished for support payments over 12 weeks in arrears.
"Disposable earnings" is the amount of earnings left after legally required deductions (e.g., federal, state and local taxes, Social Security, unemployment insurance, and state employee retirement systems) have been made. Deductions not required by law (e.g., union dues, health and life insurance, and charitable contributions) are not subtracted from gross earnings when the amount of disposable earnings for garnishment purposes is calculated.
Title III specifies that garnishment restrictions do not apply to bankruptcy court orders and debts due for federal and state taxes. Nor do they affect voluntary wage assignments, i.e., situations where workers voluntarily agree that their employers may turn over a specified amount of their earnings to a creditor or creditors.
Employee Rights
Title III prohibits an employer from discharging an employee because of garnishment of wages for any one indebtedness, regardless of the number of levies made or proceedings brought to collect it. Title III does not, however, protect an employee from discharge if the employee's earnings have been subject to garnishment for a second or subsequent debt.
Compliance Assistance Available
The Wage and Hour Division of the Employment Standards Administration administers and enforces Title III. More detailed information, including copies of explanatory brochures and regulatory and interpretative materials, may be obtained from the Wage and Hour Division’s Web site or by contacting your local Wage and Hour Division office. For additional compliance assistance, contact the Wage and Hour Division help line at 1-866-4USWAGE.
Penalties/Sanctions
Violations of Title III may result in reinstatement of a discharged employee, payment of back wages, and restoration of improperly garnished amounts. Employers who willfully violate the discharge provisions of the law may be prosecuted criminally and fined up to $1,000, or imprisoned for not more than one year, or both.
Relation to State, Local, and Other Federal Laws
If a state wage garnishment law differs from Title III, the employer must observe the law resulting in the smaller garnishment, or prohibiting the discharge of an employee because his or her earnings have been subject to garnishment for more than one debt. Sites like this one provides more information on state laws http://www.bcsalliance.com/y_debt_statelaws_garnishments.html
Wage garnishment occurs when an employer withholds the earnings of an individual for the payment of a debt as the result of a court order or other equitable procedure. You may not garnish wages unless directed by the court. The wage garnishment can be for child support or a previous debt owed by the employee. But what does this mean for the employer? Can an employer be held liable for not garnishing pay or garnishing too much of an employee’s pay?
Title III of the Consumer Credit Protection Act (CCPA) protects employees earnings that may be garnished in any workweek or pay period by limiting the amount of to the lesser of 25 percent of disposable earnings or the amount by which disposable earnings are greater than 30 times the federal minimum hourly wage prescribed by Section 6(a)(1) of the Fair Labor Standards Act of 1938. This limit applies regardless of how many garnishment orders an employer receives. The federal minimum wage is $6.55 per hour effective July 24, 2008 and $7.25 per hour effective July 24, 2009.
There is an exception - court orders for child support or alimony, Title III allows up to 50 percent of an employee's disposable earnings to be garnished if the employee is supporting a current spouse or child, and up to 60 percent if the employee is not doing so. An additional five percent may be garnished for support payments over 12 weeks in arrears.
"Disposable earnings" is the amount of earnings left after legally required deductions (e.g., federal, state and local taxes, Social Security, unemployment insurance, and state employee retirement systems) have been made. Deductions not required by law (e.g., union dues, health and life insurance, and charitable contributions) are not subtracted from gross earnings when the amount of disposable earnings for garnishment purposes is calculated.
Title III specifies that garnishment restrictions do not apply to bankruptcy court orders and debts due for federal and state taxes. Nor do they affect voluntary wage assignments, i.e., situations where workers voluntarily agree that their employers may turn over a specified amount of their earnings to a creditor or creditors.
Employee Rights
Title III prohibits an employer from discharging an employee because of garnishment of wages for any one indebtedness, regardless of the number of levies made or proceedings brought to collect it. Title III does not, however, protect an employee from discharge if the employee's earnings have been subject to garnishment for a second or subsequent debt.
Compliance Assistance Available
The Wage and Hour Division of the Employment Standards Administration administers and enforces Title III. More detailed information, including copies of explanatory brochures and regulatory and interpretative materials, may be obtained from the Wage and Hour Division’s Web site or by contacting your local Wage and Hour Division office. For additional compliance assistance, contact the Wage and Hour Division help line at 1-866-4USWAGE.
Penalties/Sanctions
Violations of Title III may result in reinstatement of a discharged employee, payment of back wages, and restoration of improperly garnished amounts. Employers who willfully violate the discharge provisions of the law may be prosecuted criminally and fined up to $1,000, or imprisoned for not more than one year, or both.
Relation to State, Local, and Other Federal Laws
If a state wage garnishment law differs from Title III, the employer must observe the law resulting in the smaller garnishment, or prohibiting the discharge of an employee because his or her earnings have been subject to garnishment for more than one debt. Sites like this one provides more information on state laws http://www.bcsalliance.com/y_debt_statelaws_garnishments.html
Some FLSA Myths Uncovered
See if you can answer these questions correctly. Lawyers are ready to help your employees calculate the damages and file a claim against you to recoup owed overtime wages as well as additional damages. Make sure you stay on the right side of FLSA.
What is overtime pay?
Overtime pay is additional compensation for working in excess of 40 hours per week. Usually, overtime pay one and a half times your hourly rate for each hour worked 40 hours per week.
Overtime is the term used to define work that is performed in excess of 40 hours per week (a defined, seven consecutive day period) in accordance with the Fair Labor Standards Act (FLSA). This federal law does not require premium pay for daily overtime or simply because an employee works on a Saturday, Sunday, or a holiday. Nor does it require the employer to include time paid for but not actually worked, such as vacation or sick leave and holidays, in calculating whether overtime has been worked. A number of states and Puerto Rico go beyond federal law and require overtime compensation when work exceeds eight or more hours per day or for specific occupations. You will want to check with the department of labor for each state in which you operate regarding its overtime provisions.
What if I agreed with my boss to work overtime but not be paid for it?
It doesn't matter. No agreement that limits your right to overtime can be enforced. Overtime Pay May Not Be Waived: The overtime requirement may not be waived by agreement between the employer and employees. An agreement that only 8 hours a day or only 40 hours a week will be counted as working time also fails the test of FLSA compliance. An announcement by the employer that no overtime work will be permitted, or that overtime work will not be paid for unless authorized in advance, also will not impair the employee's right to compensation for compensable overtime hours that are worked.
When I work overtime, my boss doesn't pay me, I just take some time off the next week. Is that allowed?
The overtime pay requirement may not be waived by agreement between the employer and the employee. The overtime pay requirement cannot be met through the use of compensatory time off (comp time) except under special circumstances applicable only to state and local government employees.
What if I have no written records or proof of the hours I worked?
It is not necessary that you have any detailed records. It is your word under oath that is essential. The employer will need detailed records and documents to try and disprove your overtime claim.
My boss tells me that since I work 30 hours one week and 50 hours the next week, that I average 40 hours per week and am not entitled to overtime. Is that correct?
No, a single workweek is the standard. The averaging of workweeks is expressly prohibited by law! Assuming that you are not otherwise exempt under the FLSA, you are entitled to overtime compensation for week two (the 50 hour work week). The Act applies on a workweek basis. An employee's workweek is a fixed and regularly recurring period of 168 hours -- seven consecutive 24-hour periods. It need not coincide with the calendar week, but may begin on any day and at any hour of the day. Different workweeks may be established for different employees or groups of employees. Averaging of hours over two or more weeks is not permitted. Normally, overtime pay earned in a particular workweek must be paid on the regular pay day for the pay period in which the wages were earned.
Am I exempt because my employer calls me exempt?
No, it makes no difference if your employer calls you exempt or non-exempt. It also makes no difference if your employer gives you a title such as "manager" or "department head," making it appear as if you should not be paid overtime. For example, some employers will call workers "assistant managers" to avoid paying overtime when those employees are actually regular line workers who are not exempt and should be paid overtime. What matters is what you do, not what you are called.
I make $10.00 per hour and work 60 hours every week. My boss pays me $600.00. Am I entitled to overtime?
Assuming that you are not otherwise exempt under the FLSA, your boss has short changed you $100.00 for every week that you worked 60 hours.
40 hours @ $10/hr. equals $400.00
20 hours @ $15/hr. equals $300.00 (time and a half is 1.5 times the hourly rate ($10/hr) or $15. You should have been paid $700.00.
I'm not paid hourly, I'm paid a weekly salary. My boss tells me that I am not entitled to overtime. Is he correct?
The fact that you are paid a weekly salary does not, by itself, make you exempt under the FLSA. Your employer cannot pay you a weekly salary simply to avoid paying you overtime. Assuming that you are not otherwise exempt under the FLSA, your boss must convert your weekly pay to an hourly rate and pay you time and a half for all hours worked in excess of 40 hours. This applies to monthly and semi-monthly salaries as well.
I'm paid a weekly salary for 40 hours at $10.00 per hour, but one week I may work 35 hours and the next 44 hours. My boss tells me that our system is fair to both of us, I get a consistent check and he gets his schedule covered without all the paperwork. Am I entitled to overtime?
Assuming that you are not otherwise exempt under the FLSA, your boss must convert your weekly pay to an hourly rate and pay you time and a half for all hours worked in excess of 40 hours. Doing the math, your boss owes you $10.00 more for the two week period.
Week 1 - 35 hours @ $10/hr. equals $350.00
Week 2 - 40 hours @ $10/hr. equals $400.00
Week 2 - 4 hours @ $15/hr. equals $60.00
You should have been paid $810.00 for the 79 hours you worked. Your check varied from $350 one week to $460 the next. You need to adjust for these income changes going forward.
What is overtime pay?
Overtime pay is additional compensation for working in excess of 40 hours per week. Usually, overtime pay one and a half times your hourly rate for each hour worked 40 hours per week.
Overtime is the term used to define work that is performed in excess of 40 hours per week (a defined, seven consecutive day period) in accordance with the Fair Labor Standards Act (FLSA). This federal law does not require premium pay for daily overtime or simply because an employee works on a Saturday, Sunday, or a holiday. Nor does it require the employer to include time paid for but not actually worked, such as vacation or sick leave and holidays, in calculating whether overtime has been worked. A number of states and Puerto Rico go beyond federal law and require overtime compensation when work exceeds eight or more hours per day or for specific occupations. You will want to check with the department of labor for each state in which you operate regarding its overtime provisions.
What if I agreed with my boss to work overtime but not be paid for it?
It doesn't matter. No agreement that limits your right to overtime can be enforced. Overtime Pay May Not Be Waived: The overtime requirement may not be waived by agreement between the employer and employees. An agreement that only 8 hours a day or only 40 hours a week will be counted as working time also fails the test of FLSA compliance. An announcement by the employer that no overtime work will be permitted, or that overtime work will not be paid for unless authorized in advance, also will not impair the employee's right to compensation for compensable overtime hours that are worked.
When I work overtime, my boss doesn't pay me, I just take some time off the next week. Is that allowed?
The overtime pay requirement may not be waived by agreement between the employer and the employee. The overtime pay requirement cannot be met through the use of compensatory time off (comp time) except under special circumstances applicable only to state and local government employees.
What if I have no written records or proof of the hours I worked?
It is not necessary that you have any detailed records. It is your word under oath that is essential. The employer will need detailed records and documents to try and disprove your overtime claim.
My boss tells me that since I work 30 hours one week and 50 hours the next week, that I average 40 hours per week and am not entitled to overtime. Is that correct?
No, a single workweek is the standard. The averaging of workweeks is expressly prohibited by law! Assuming that you are not otherwise exempt under the FLSA, you are entitled to overtime compensation for week two (the 50 hour work week). The Act applies on a workweek basis. An employee's workweek is a fixed and regularly recurring period of 168 hours -- seven consecutive 24-hour periods. It need not coincide with the calendar week, but may begin on any day and at any hour of the day. Different workweeks may be established for different employees or groups of employees. Averaging of hours over two or more weeks is not permitted. Normally, overtime pay earned in a particular workweek must be paid on the regular pay day for the pay period in which the wages were earned.
Am I exempt because my employer calls me exempt?
No, it makes no difference if your employer calls you exempt or non-exempt. It also makes no difference if your employer gives you a title such as "manager" or "department head," making it appear as if you should not be paid overtime. For example, some employers will call workers "assistant managers" to avoid paying overtime when those employees are actually regular line workers who are not exempt and should be paid overtime. What matters is what you do, not what you are called.
I make $10.00 per hour and work 60 hours every week. My boss pays me $600.00. Am I entitled to overtime?
Assuming that you are not otherwise exempt under the FLSA, your boss has short changed you $100.00 for every week that you worked 60 hours.
40 hours @ $10/hr. equals $400.00
20 hours @ $15/hr. equals $300.00 (time and a half is 1.5 times the hourly rate ($10/hr) or $15. You should have been paid $700.00.
I'm not paid hourly, I'm paid a weekly salary. My boss tells me that I am not entitled to overtime. Is he correct?
The fact that you are paid a weekly salary does not, by itself, make you exempt under the FLSA. Your employer cannot pay you a weekly salary simply to avoid paying you overtime. Assuming that you are not otherwise exempt under the FLSA, your boss must convert your weekly pay to an hourly rate and pay you time and a half for all hours worked in excess of 40 hours. This applies to monthly and semi-monthly salaries as well.
I'm paid a weekly salary for 40 hours at $10.00 per hour, but one week I may work 35 hours and the next 44 hours. My boss tells me that our system is fair to both of us, I get a consistent check and he gets his schedule covered without all the paperwork. Am I entitled to overtime?
Assuming that you are not otherwise exempt under the FLSA, your boss must convert your weekly pay to an hourly rate and pay you time and a half for all hours worked in excess of 40 hours. Doing the math, your boss owes you $10.00 more for the two week period.
Week 1 - 35 hours @ $10/hr. equals $350.00
Week 2 - 40 hours @ $10/hr. equals $400.00
Week 2 - 4 hours @ $15/hr. equals $60.00
You should have been paid $810.00 for the 79 hours you worked. Your check varied from $350 one week to $460 the next. You need to adjust for these income changes going forward.
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