if i get paid 15 dollars an hour how much is overtime?
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Federal overtime laws state that you must pay employees one and a half times their usual wage for overtime. If your employees' usual rate is $15 per hour, their overtime pay would be $22.50.
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$15.50 per hour working 2,000 hours In this case, you can quickly compute the annual salary by multiplying the hourly wage by 2000. Your hourly pay of $15.50 is then equivalent to an average annual income of $31,000 per year.
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The average annual salary for this occupation is about $43,000 [source: SimplyHired]. In California, the average hourly wage is $16.04, and in some places, the overtime can help shoot the pay to over $60,000 a year [source: CEED, Parsons].
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Amazon's lowest paid US workers will receive $15 an hour.
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$31,000 salary working 2,000 hours Your yearly salary of $31,000 is then equivalent to an average hourly wage of $15.50 per hour.
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If you look at an average month as 4 weeks, then you can estimate the average monthly earnings from 15 dollars per hour to be $2,400 per month.
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Most employees working over 40 hours a week must be paid overtime. Overtime pay is 1 ½ times an employee's regular rate of pay. ... There are several types of jobs that the law exempts from overtime. If you are not exempted, you should get overtime if you work more than 40 hours a week, even if you are paid a salary.
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Illinois requires employers to pay a minimum of $9.25 per hour for workers 18 years of age and older; workers under 18 may be paid $. 50 per hour less than the adult minimum wage. Overtime must be paid after 40 hour of work per week at time and one-half the regular rate.
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To determine your hourly wage, divide your annual salary by 2,080. If you make $75,000 a year, your hourly wage is $75,000/2080, or $36.06. If you work 37.5 hours a week, divide your annual salary by 1,950 (37.5 x 52). At $75,000, you hourly wage is $75,000/1,950, or $38.46.
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['Start by multiplying the hours worked by each of the pay rates. Add the sums to get total compensation and divide this number by the hours worked to get the regular rate. ... ', 'Next, multiply the weighted average by 1.5. This is the overtime rate. ... ', 'Multiply the weighted average by 40 hours.']
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If you make $15,000 per year, your hourly salary would be $7.69. This result is obtained by multiplying your base salary by the amount of hours, week, and months you work in a year, assuming you work 37.5 hours a week.
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$37,500 salary working 2,000 hours In this case, you can quickly compute the hourly wage by dividing the annual salary by 2000. Your yearly salary of $37,500 is then equivalent to an average hourly wage of $18.75 per hour.
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A salaried employee who is not exempt from federal or Illinois law is entitled to overtime pay. Each hour over 40 must be paid at 1 1/2 times the employee's regular rate of pay.
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It depends on where you work. Not all minimum wages are the same. If you're talking Federal minimum wage, just divide $4000 by $7.25 per hour, and you get 551 hours and change. A little more than 3 months, if you're working (real) full time of 40 hours a week paid.
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How much should I be paid? Although some exceptions may apply, in most circumstances you must be paid the federal minimum wage, $7.25 per hour. Your eligibility for the federal minimum wage depends on what you do and where you work.
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Casual employees now have an entitlement to overtime pay. They get overtime when working: more than 38 hours per week, or an average of 38 hours per week over a roster cycle (which may not exceed 4 weeks) more than 12 hours per day or shift.
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These employees must be paid at least the minimum wage for all the hours they work. They are also usually entitled to overtime if they work more than 44 hours a week.