Financial Services Industry Employees
If you are or were employed in the financial services industry and have not received the wages and overtime pay you believe you are owed, tell us your overtime pay story!
–Report Unpaid Overtime –
Financial Services Industry Employees
Employees in the financial services industry are often entitled to overtime pay. Financial Services Industry Employees may not be entitled to overtime pay if they are determined to be exempt, for example, if they meet the duties requirements for the administrative exemption.
According to the Department of Labor, financial services industry employees might be exempt if “their duties include work such as collecting and analyzing information regarding the customer’s income, assets, investments or debts; determining which financial products best meet the customer’s needs and financial circumstances; advising the customer regarding the advantages and disadvantages of different financial products; and marketing, servicing or promoting the employer’s financial products.”
“However, an employee whose primary duty is selling financial products does not qualify for the administrative exemption. In applying the exemption, it does not matter whether the employee’s activities are aimed at an end user or an intermediary. The status of financial services employees is based on the duties they perform, not on the identity of the customer they serve.”
Were you a financial services industry employee? Were you not paid for your overtime hours?
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