What is the difference between a salaried and an hourly employee?

The difference between a salaried and an hourly employee is the way their wages are determined. Salaried employees are paid a fixed amount of money each pay period, regardless of the number of hours they work. For example, a salaried employee may make $2,000 per month and receive the same amount, no matter if they work 40 hours or 60 hours in that period of time. In contrast, hourly employees get paid for each hour they work. They are typically guaranteed a certain hourly wage and, depending on the state, may be eligible for overtime wages if they work more than the allotted number of hours. In Florida, salaried employees must be paid at least $455 per week, while the hourly wage is determined by the Florida Minimum Wage Act. This currently stands at $8.56 per hour. Hourly employees in the state of Florida must also be paid overtime for any hours worked over 40 in a single workweek. If their hourly rate is higher than the minimum, they may still be eligible for overtime. Overall, the key difference between a salaried and an hourly employee is the way their wages are calculated. Salaried employees receive a fixed amount of money for each pay period, regardless of the number of hours worked, while hourly employees are paid for each hour they work. This difference affects not only the wages employees receive, but their eligibility for overtime and other benefits.

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What is the difference between a salaried and an hourly employee?

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