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

The main difference between a salaried and an hourly employee in Virginia is the way they are paid. Salaried employees earn a set amount of money, regardless of how many hours they work. On the other hand, hourly employees are only paid for the hours they work - their wages are calculated based on the total number of hours they work, and the hourly rate of pay. In addition, hourly employees in Virginia must be paid a minimum wage, as set by federal and state law. The current minimum wage in Virginia is $7.25 per hour for employees working in businesses with gross annual sales of $3 million or less, and $7.25 per hour for employees working in businesses with gross annual sales greater than $3 million. Salaried employees are exempt from the minimum wage law. In addition, salaried employees usually receive additional benefits such as vacation pay, health insurance, and pension plans. Hourly employees typically do not receive these benefits, although some employers may choose to offer them. Salaried employees usually have more job security than hourly employees, as they are not as easily replaced. Finally, salaried employees are usually expected to work 40 hours each week, while hourly employees can be required to work more or fewer hours, depending on the employer’s needs. In addition, salaried employees are often expected to work overtime, and employers must pay them an overtime rate for any hours worked beyond 40. Hourly employees are only paid for the hours they actually work, and do not receive overtime pay.

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

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