Question regarding Time and a half

I am so clueless about this. How do they calculate your pay? If you work a regular 40 hr week and 20 hours on top of that? Would that come out to an addition of half your salary to your salary already? I am so confused.

Anyone please????

lets say you made 20 per hour......

the first 40 hours would be at a rate of 20/hour
the overtime 20 hours would be at a rate of 30/hour

time (20) and a half (10)......

to say this differenlty, if you work 1 hour, they will give you credit for 1 and 1/2 hours (at 20/hr)

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Posted by RVCBride

That's what I thought, I just wasn't sure how it was broken down salary wise per year. Technically if you worked 40 hrs overtime every two weeks your salary is an additional half of what you already make. THANKS

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Wait...where do you work that gives Salary employees time & half pay?....I want to join!

It's not my job! I'm in education. My husband just got a job offer at Lehman Brothers and he's taking the job. He originally was working on the NYSE and the pay was good but did not offer a promising future. Anyway, Lehman made the offer this morning and time and a half was a part of it. It sounded too good to be true because he will minimally be working 15 extra hours per week and it makes a huge difference in the pay.
I am so happy because he's wanted this job sooo bad!!

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Posted by RVCBride

It's not my job! I'm in education. My husband just got a job offer at Lehman Brothers and he's taking the job. He originally was working on the NYSE and the pay was good but did not offer a promising future. Anyway, Lehman made the offer this morning and time and a half was a part of it. It sounded too good to be true because he will minimally be working 15 extra hours per week and it makes a huge difference in the pay.
I am so happy because he's wanted this job sooo bad!!

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This is great...congrats to him!!

My best friend's hubby works in finance and they just started an OT policy, so this may be a new thing. It's awesome...she loves the paid OT!

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Posted by RVCBride

That's what I thought, I just wasn't sure how it was broken down salary wise per year. Technically if you worked 40 hrs overtime every two weeks your salary is an additional half of what you already make. THANKS

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what will happen on his pay stub.... he will see his regular pay on 1 line (running total) and on a different line, will see how much overtime was put in.

so techincally, yes, you can factor annual pay by estimateing how much OT he will work. Just keep in mind more taxes are taken out working OT. you still see green but more bucks come out of pocket compared to working regular 40 weeks

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Posted by RVCBride

It's not my job! I'm in education. My husband just got a job offer at Lehman Brothers and he's taking the job. He originally was working on the NYSE and the pay was good but did not offer a promising future. Anyway, Lehman made the offer this morning and time and a half was a part of it. It sounded too good to be true because he will minimally be working 15 extra hours per week and it makes a huge difference in the pay.
I am so happy because he's wanted this job sooo bad!!

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Congrats to him! GREAT JOB!