I thought there weren't that many people here who do extra work for free, but there seem to be a lot of them. Recently, a colleague complained to me that he was exhausted because he was constantly doing extra work (for free). Why do people do that? Because they fear losing their job? I said a long time ago that I don’t want to do extra work and lo and behold, I still have a job.
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@akjy, I already posted a link where IBM paid $65,000,000 to settle their misuse of exempt status.
So, as I said, the bank doesn't determine your exempt status, employment law does.
Found hundreds of links. You can be the one to carry the banner to overturn the system and stick it to the man. Good luck… you’ll be terminated for unrelated reasons of course.
But whatever, you’ll be the greatest hero since Grant Jackson the whistleblower!
https://www.upcounsel.com/non-exempt-employees
Certain jobs are specifically excluded from the FLSA’s overtime requirements such as truck drivers, agricultural workers, and other professions which are governed by other non-FLSA laws. However, for most jobs, an employee is considered to be exempt if he or she meets these three tests, 1) they are paid at least $23,600 per year (which is the equivalent of $455 per week), 2) they are paid on a salaried basis (versus an hourly basis), and 3) they perform non-exempt duties. The FLSA’s salaried requirement does not apply to specific professions such as school teachers or physicians who may be paid on an hourly basis.
Classifying an employee as exempt has distinct advantages including not having to track the hours they work or paying them overtime. Exempt employees are paid their same salary regardless of the hours they work during week.
https://www.fairpay.com/bank-employees-wage-disputes/
Bank Employees and Wage Disputes
If you are a banking, mortgage, or insurance employee, you may be classified as an exempt employee, and for that reason you may believe you are not eligible for overtime wages. This results in many employees in the banking industry working long hours for little pay. However, many workers are legitimately non-exempt and do not know it. If you think you are exempt as a mortgage loan officer, underwriter, originator, consultant, or processor, you need to speak with a wage dispute attorney and determine if you are a misclassified worker being denied proper compensation.
Under the Fair Labor Standards Act, most exempt employees fall under the executive, administration, or professional exemption. An administrative exception would mean that in the scope of your job you can work with a discretion that can considerably impact the business. Most workers in the banking industry are more comparable to production employees because their work does not focus on running the business itself, but instead is focused on the goods and services of the company.
Therefore, many workers in the banking industry are owed for back-pay and overtime wages that they thought they did not previously qualify for. You may have worked well over forty hours a week, by being forced to clock out and finish projects, or working weekends without documenting your hours, or working through your scheduled lunch break. You can be compensated for your unpaid wages going back three years, but you need to speak with wage dispute lawyer who can analyze your case, identify your exemption status, and pinpoint where pay violations have occurred.
IBM doesn’t misuse Exempt status to get out of paying overtime. So far as I know only Banks and Savings & Loans do this. I believe that it goes back to early banking when only “Officers” were permitted to handle many branch transactions. Certainly the Exempt classification was meant for true owners and directors, but in banking it is misused. You ever wonder why we have tens of thousands of VPs? That’s why.
@9qgr, tell that to IBM, Einstein.
Ignorance is bliss. If you are promoted to an exempt position you are exempt from overtime. Yes, employment laws govern exempt status, and yes, when you are promoted to any career track level you will be exempt from overtime.
Please let us know how your package changes with your first promotion.
@6yde, YOU need to learn a thing or two before you cost us hundreds of millions of dollars like your "mentors" in Ireland.
https://www.flsa.com/coverage.html
https://redmondmag.com/articles/2006/11/26/ibm-pays-tech-workers-65-million-to-settle-overtime-lawsuit.aspx
You are definitely in your first job. Ask around, you need to find a mentor.
@6ghp, the bank doesn't determine your exempt status, employment laws do. You are clueless.
I don’t think that I’m clueless at all. In fact, I believe that you are in your first role in banking and have absolutely no idea how the career paths work. If you show any abilities to think and can work well with others you will receive a promotion with a title and exempt status. It is a sign that they see something in you and you will have a promotion to a title. And yes, you WILL be exempt from being paid overtime and the bank will expect you to be a team player. Don’t believe me? Ask around.
@4qno, you're clueless if you think you can just call someone exempt and quit paying them OT.
23 hours ago by Anonymous | no reactions
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@4qno, you're clueless if you think you can just call someone exempt and quit paying them OT.
What a joke. Certainly less than 1% of exempt employees have a “negotiated salary”.
In reality, if you show any initiative or smarts whatsoever in an entry level position you are promoted to exempt within a year because they do not want to pay OT. After that it is all on you to take risks, jump and manage your careert.
"Drive" is a tad aggressive for J/k/l. Even steer might be too much... Keep the engine idle is probably more applicable, if we want to stick with the analogy.
Don’t think so. The 50+ yr old J/k/l levels do"work" a ton of extra hours/weekends and they actually drive the Bank. They sure aren’t doing entry level work. 50+ plus workers are the favorites for displacement and all have a target on their back. You are out of here very fast at this age unless you are outworking a small team of millennials.
If you're non-exempt, it it illegal to do extra work for free.
If you're exempt, you're compensated by your negotiated salary.
Of course, bk still forces most employees to leave in order to have their pay keep up with inflation, much less increase.
@OP+1gnHzv92 is rapidly shooting up to Senior Management. Seen this pattern over and over for decades.
Its the J/k/l levels that seem to "work" a ton of extra hours/weekends. This is the high cost center 50+ yr old, doing entry level work because they're afraid to lose their "status". Or the low cost center person who thinks very highly of themselves for making VP - bragging to their Walmart clerk neighbor that working weekends for free is a corporate perk.
People do extra work for free because of pressure from above or in the case of tech, love of software development. Some do seem to have a natural way of deflecting work though. It is self perpetuating in that those who deflect additional work in effect train their managers to give them less work. Those who always come through are rewarded with ever more assignments and ultimately face burnout. Those who deflect are generally good networkers and likely to move up the chain.
I log on at my exact start time and log off at my exact stop time. I used to put in extra time and not mark it on my time card but those days are long gone. My time outside of work is more important than my time spent doing the work. Take your breaks and log on and leave at your designated start/stop times and don’t give this place a minute more of your valuable time.
And those that work for free will get larger annual increases.
Not.
I did it because it was easier than dealing with the consequences at work the next day.