New Exempt Salary Threshold 2024. The first increase under this rule went into effect on july 1, 2024, increasing the minimum salary for the executive, administrative, and professional exemptions to. Under this new ruling, the salary threshold for exempt employees—those not entitled to overtime pay—will rise from an annual salary of $35,568 ($684 per week) to.

In april 2024, the department issued a final rule increasing the standard salary level for exemption, and the total annual compensation requirement for highly compensated. As a result of the new minimum wage, the state has proposed increasing the minimum salary requirement for the executive and administrative exemptions to $1,200.