New York State Kicks Off 2024 with Minimum Wage and Minimum Salary Threshold Increases

New York employers must be mindful of important increases in minimum wage rates and salary thresholds for employees to be classified as overtime-exempt, as well as new thresholds with respect to pay method and frequency requirements for certain exempt employees. 

Employers will want to review their pay practices and employee classifications to understand the changes necessary to ensure compliance with increases taking effect this year. As a best practice, and given the recent legislative initiatives at both the federal and state levels, employers should assess their pay policies and practices on a continuous basis and consult with legal counsel, as appropriate.

Our Labor & Employment Law team is available to help employers navigate updates to the New York Labor Law and Fair Labor Standards Act and enabling regulations and guidance, and to provide counseling and assistance to ensure full compliance with these ever-changing provisions.

If you have any questions or require assistance in navigating these changes, please do not hesitate to contact us.

For more details regarding this new legislation, read our Client Alert below.