NY Minimum Wage & Salary Exemption Threshold to Increase in 2024

As employers may recall, earlier this month the New York Department of Labor (DOL) issued proposed regulations seeking to modify several industry-specific wage requirements including the salary threshold for exempt executive and administrative employees. Additionally, earlier in the year, New York enacted state budget legislation that would increase the statewide minimum wage each year through 2026. On December 27, 2023, the DOL published a Notice of Adoption in the New York State Register, which finalized the proposed increases to the minimum wage and the salary threshold for exempt employees and set their effective date to January 1, 2024.

As of January 1, 2024, the minimum wage for employees in New York City, Nassau, Suffolk, and Westchester counties will increase to $16 per hour, and to $15 for the rest of New York State. And the salary threshold for exempt executive and administrative employees will increase to $1,200.00 a week/$62,400.00 a year for New York City, Long Island, and Westchester County and to $1,124.20 a week/$58,458.40 a year for the rest of New York State. Employers should take immediate steps to ensure compliance with these adjusted minimums to avoid issues related to misclassification of employees or underpayment of the required wage.  Employers with questions about the salary threshold for exempt employees or the minimum wage should contact Caroline Secola at csecola@fglawllc.com or any attorney at the firm.

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