In a recent project with blogger/career guru Penelope Trunk, we examined the age at which salaries top out. It turns out pay goes essentially nowhere after age 40. Of course there are some differences across gender, degree level and jobs, but the real lesson is don't expect a raise of any real value in the 25 or so years before retirement.
In this post I will discuss some interesting insights from the data, as well as how the age at which pay growth stops differs across various worker characteristics.
Are you earning what you are worth, given your experience, degrees, location and other critical factors that affect your pay? Find out with a free PayScale salary report.
Things have been busy at PayScale - we have been adding new features to our flagship professional product, PayScale Insight, and our Research Center - so I haven’t had as much time to post on salary issues.
I did respond to a reader’s question about overtime; others might be interested in the question and answer:
I get paid a annual salary of $40,000. I am a maintenance person. I work on AC units and furnaces; I paint; I am a jack of all trades and a master of none. I work around 5 to 6 hrs overtime a week.
My employer says I can't get comp time until 45 hrs a week have been met; is this legal? I only get 1 hr comp time over 45 hrs. Should I get 1 1/2, if it is legal to allow the comp time over 45 hours? This must mean I’m non-exempt right? If I confront them with this issue, can they say you are exempt and work me to no end? Help!
These questions are about the federal Fair Labor Standards Act (FLSA): what is a legal use of over-time, comp. time, etc.?
In this post, I will answer these, and also take a quick look at what FLSA says about breaks and meal time.
Wondering if you should be earning $40,000/year, like our "Jack" of all trades? Use the PayScale Salary Calculator to find out.
The question of "salaried, non-exempt" jobs came up again in my inbox (I have changed a few details to make the email not personally identifiable):
My classification was Salary Non-Exempt, and I am being told that I will not receive time and one half pay for these hours, such as a Non-Exempt employee would have, but only "Half Time" due to the Salary Non-Exempt classification.
Half Time is calculated by taking the weekly salary amount ($800.00) and dividing it by 40 hours in the work week; which equals $20.00 per hour. For any time worked over the 40 (example: 10 hours worked over 40 in a week for a total of 50 hours) and dividing it into the normal salary amount of $800.00, giving $16.00 per hour, then dividing the $16.00 by half resulting in $8.00 per hour for any hour worked over 40, or "Half Time" versus the traditional time and one half, in this example $30.00/hour for time and one half.
Is this accurate? Legal? Do I have any recourse? I answered the phone and supervised no one, swept the floors and cleaned the toilets. Is Salary Non-Exempt even accurate and should I consider a separate complaint to correct it to Non-Exempt?
When I first read this, I thought paying only $8/hour for overtime had to be illegal under federal Fair Labor Standards Act (FLSA) regulations.
However, I was wrong: the above pay is legal under federal law. In this post, as previously promised, I will address how salary, non-exempt, pay works.
Wondering if you should be earning $20/hour for answering phones and cleaning toilets? Use the PayScale Salary Calculator to find out.
Name: John Anderson
Job Title: President - Owner Operator
Where: Tulsa, OK – United States
Employer: BounceU - Children's Playground Franchise
Years of Experience: 25 years
Relevant Experience: 15 years as a mortgage broker
Education: BS Business Administration
Annual Salary: See PayScale’s Research Center for median Owner Operator Salaries.
Looking for a new career where you could be the president of your own company? Ever thought of running your own franchise? For John Anderson, leaving the mortgage industry and owning a children's playground franchise was a wonderful change of pace. In this Salary Story, John shares the trials and tribulations of owning a children's playground franchise in Oklahoma.
Is a person's salary considered privacy act information? SignOnSanDiego.com reported that the California Supreme Court ruled in favor a newspaper seeking government job info and salary numbers of public employees. The ruling said that the city of Oakland must release the names, records of termination and salaries of police officers (who earned more than $100,000 in 2004).
Police officer unions claimed that this information on salary and payment should remain confidential due to privacy. However, Chief Justice Ronald George stated: “Counterbalancing any cognizable interest that public employees may have in avoiding disclosure of their salaries is the strong public interest in knowing how the government spends its money." Should government job info and salary be made public?
Are you being paid fairly? Check your salary, privately, with our PayScale Salary Calculator.