A salary is a fixed amount of compensation paid to an employee regardless of the number of hours worked. It's expressed as an annual figure (e.g., $60,000/year) and divided into equal payments each pay period. Biweekly salary = Annual ÷ 26; Semi-monthly = Annual ÷ 24; Monthly = Annual ÷ 12. Salaried employees may be "exempt" from overtime under FLSA if they meet certain duties tests and earn above the exemption threshold ($35,568 minimum as of 2026).
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