Calculate overtime pay with time-and-a-half or double-time rates.
Under the Fair Labor Standards Act (FLSA), non-exempt employees must receive overtime pay of at least 1.5 times their regular rate for all hours worked over 40 in a workweek. Some states and employers offer double-time (2x) for hours beyond a certain threshold.
Most hourly employees qualify. Salaried employees earning below $58,656/year (as of 2024) also generally qualify. Exempt employees — typically salaried professionals, executives, and administrators earning above the threshold — do not receive overtime pay.
Working just 5 hours of weekly overtime at $20/hour adds $7,800 to your annual income ($150/week x 52 weeks). At 10 hours/week, that's $15,600 extra per year. Overtime can significantly impact your financial picture.