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In the US, a salaried employee receives a set amount, regardless of hours worked. The agreed pay is sometimes for 40 hour weeks, but there is no overtime pay should an employee work more than that. On the other side of that coin, however, should an employee get off early by a few hours, then they are still paid the set amount. Whole days off (sick time, vacation, personal days) fall under the company's policy as to how they treat those days off. Usually the agreed salary amount is an understanding by both parties of how many hours the average week will consist of.

The United States Department of Labor regulates who can be deemed salaried very closely because obviously there is some room for an employer to take advantage of the employee based on this pay scale. Generally there are only a few positions within a company that legally qualify as salaried positions. If you have any question about whether your position qualifies, refer to the US Department of Labor website.

An anual salary base of $29,000 provides a weekly gross pay (before taxes) of $557.69 ($29k divided by 52 weeks), $1,115.38 if paid bi-weekly ($29k divided by 26 paychecks per year), $1,208.33 if paid semi-monthly ($29k divided by 24 paychecks per year), or $2,416.67 if paid monthly. The closest estimate to an hourly wage equivalent is about $13.94/hour based on a 40 hour work week.

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Q: How much do you get paid if your salary is 29000 per year?
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