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?

Tags:

financial services industry employees, overtime, overtime pay, labor law overtime, law overtime pay, mandatory overtime, federal law overtime, overtime regulation, law mandatory overtime, overtime working, unpaid overtime salary, lawsuit overtime, overtime wages, hours overitime, chinese overtime, employee overtime salaried, commission, commissioned, class action, attorney, lawyer, suit, sales, stockbroker, insurance, agent, broker

–Report Unpaid Overtime –

a