Summary of Overtime for Commissioned Financial Business Employees
The services that are financial, while the home loan industry in specific, has a tendency to spend workers by payment. This is certainly especially real for product product product sales kind roles, such as for example mortgage loan officers. Although federal laws enable companies to exempt economic service industry employees from overtime, monetary solution companies must spend the white collar employees a fully guaranteed salary of $455 each week. Because of this, companies whom just pay commissions and don’t guarantee a salary need to pay loan officers and employees that are similar overtime. This article answers faq’s with this subject.
Are commissioned home loan officers eligible to pay that is overtime?