Effective December 31, 2014, New York State’s minimum wage will increase from $8.00 to $8.75 per hour. The overtime rate for hourly employees earning the minimum wage will increase to $13.13 per hour. In addition, the minimum salary for exempt administrative or executive employees will increase from $600.00 to $656.25 per week.
New York employers should update their minimum wage poster and ensure that their payroll practices are in compliance prior to January 1, 2015. The increase in the hourly minimum wage also will affect wages for tipped employees as well as certain hospitality service employees. An updated minimum wage poster and additional information regarding tipped and hospitality wages are available on the New York Department of Labor’s website.
