How do I calculate Overtime Pay? Just because your boss tells you that you are not entitled to overtime does not make it true. Countless people are misled into believing that they are not entitled to overtime. To determine how much you might be owed, calculate as follows:
If you are an hourly employee:
● Multiply your hourly rate by 1.5. If you normally make $20 for every hour worked, multiply this by 1.5 to get to $30 per hour of overtime.
● Multiply your total number of hours over 40 in a week by your overtime rate. If you worked 45 hours, you are owed 5 overtime hours of overtime at $30 per hour of overtime, your company owes you $150 for overtime pay.
If you are a salaried employee:
● Determine your weekly salary.
● Determine your overtime premium rate. To determine your overtime premium rate first, calculate your regular hourly rate by dividing your weekly salary by the number of hours worked that week. Divide this number by two for your overtime premium rate.
● If you are entitled to overtime, the company owes you your weekly hours over 40 times your overtime premium rate.
If you believe that you have been denied overtime pay as a NY or NJ employee, please contact us.