Is your company robbing you?

Hey! Hannah here. I never expected to say this so soon but…our podcast, Two Cents, charted at #34 on the Spotify Top Business Podcasts! 🤯

Thank you to each and every one of you who have tuned in since our launch. We have important episodes coming and can’t wait to hear your two cents. 💚

Tomorrow, we’re sharing our best practices on how to get started on social media and breaking down why senior homes are so expensive (the rent will shock you 😵). 

You can listen on Spotify or Apple and watch on YouTube!

Is Your Salary Robbing You?

When I was a senior data analyst, my boss gave me a project late on a Friday. I told them I’d have it ready by Monday, but they wanted it done immediately. So? I ended up working that Friday night and all day Saturday. 🫠

Was I compensated for going over our 40-hour workweek agreement? Did I get time and a half or reduced hours the following week? NOPE.

Since I was a salaried employee, I was classified as “exempt” under the Fair Labor Standards Act (FLSA). This meant I wasn’t eligible for overtime—no matter how many hours I worked in a week. 

This story illustrates a major debate you should know about: salaries vs. hourly pay. When it comes to salary versus hourly, many of us prefer salaried positions that seem more “sophisticated” or offer stronger benefits.

The reality? There’s no clear-cut advantage for salaried employees. The only difference is that employers don’t have to pay salaried employees overtime. It’s not uncommon for employers to misclassify workers as “salaried” so they can dodge paying fair and legal overtime wages.

However, an employee has to meet very specific federal guidelines to be considered “salaried” (aka exempt from overtime laws). The question is this: Is your employer misclassifying you? Here’s what you need to know →

Exempt and nonexempt employees 

To qualify as an exempt employee, you’ll need to earn at least $35,568 a year ($684 a week) and have job duties that directly align with the FLSA exemptions—job titles alone don’t count (go here to determine if your job duties fall under that category). 

If your role doesn’t follow these guidelines, you’re considered nonexempt. Translation? You’re entitled to overtime pay (time and a half) for any hours worked over 40 hours a week. FYI, some states have additional laws for determining exempt and nonexempt employees. Be sure to check your state’s labor laws to confirm your classification! 

I’ve been misclassified. Now what? 

If you discover you’ve been incorrectly classified, you can sue your employer for missed wages and potentially recover a payout. That starts with filing a complaint with the US Department of Labor (DOL) or your state’s labor department. 

• Worried about legal fees? Good news: Filing a complaint is completely free.

• Your tax dollars pay for the Wage and Hour Division (WHD) of the DOL, so you pay $0 out of pocket.  

Ensuring you’re correctly classified is the first step to fair compensation. Take 5 minutes today to double check and make sure you’re getting the pay you deserve! 💰

Sponsored by Capital One Café

Free Webinar: What’s Your Worth?

Are you being fairly compensated? Join us on Instagram live at 12 PM ET this Friday to find out! In this webinar, you’ll learn:

• Which sources to use to determine your market rate

• Best practices for finding your most accurate market rate

• Things to know before talking about pay with your coworkers

Register here to get the post-recording slides and a free coffee at your favorite Capital One Café!

It’s common for employees to lean toward salaried positions, but hourly roles can be just as (if not more!) lucrative. 

Case in point? Our recent interviews at LaborFest, where we heard from trade workers earning up to $74 an hour. With a 40-hour workweek, that adds up to well over $100K a year. And in some cases, that’s not even including robust benefits.

Check out our video below to hear their stories. 👇

• Thousands of hotel workers hit the picket line. 🪧 Over 10,000 Marriott, Hilton, and Hyatt employees across the US are protesting against their low pay and heavy workloads. “Workers can no longer afford to live in the cities that they welcome guests to,” said the union's president, Gwen Mills. 

• Resume Genius released its list of 2024 AI-Proof Jobs Report. The verdict? All 10 roles were in healthcare, with annual salaries ranging from $78,100 to $130,020. To learn more about healthcare jobs and pay you can watch our compilation right here!

• These 16 states have guaranteed basic income programs. 🙌 These programs, which help low-income individuals afford necessities like income and rent, are gaining steam. Not sure if your city has one? Here’s the complete list.

• There’s a nationwide shortage of…accountants? 💸 18% fewer students completed a bachelor’s or master’s in accounting in 2021 compared to a decade ago, per Business Insider. The solution? “Raise the pay a lot,” says a retired accountant (for context, the average base salary is $64,158).

Thanks for being here! Before we part ways: Have you ever wondered how much money TikTok pays creators? Since we started posting on TikTok, we’ve amassed over 35.2 million qualifying views and made just over $24,000. 😶