All professional industries will be drastically impacted as of January 2020, based on a final ruling made by the US Department of Labor……
A final ruling was made on Tuesday changing the structure of the professional workforce salary. The new salary level of all professional staff increases the yearly salary minimum by $11,908, allowing the new gross minimum to be $35,568. While highly compensated professional’s new minimum will be $107,432, which is over $ 7,000 higher than the current salary figure.
Other important facts to know in regard to this final ruling are;
- The job duties test will remain unchanged
- There are no mandatory automatic increases
- Bonuses and incentives can make up 10% of the yearly salary minimum
An estimated 1.2 million staff will be impacted by this ruling.