Colorado Salaried Minimum Wage 2024. Additionally, colorado’s minimum salary requirement for exempt employees will increase to $55,000. Colorado salaried minimum wage 2024.
To be exempted from overtime and minimum wage as a highly compensated employee (“hcp”), the final rule increases the amount of annual compensation an employee earns to: Employees have a right to take paid sick leave with full pay and return to work without negative consequences.
Employees Have A Right To Take Paid Sick Leave With Full Pay And Return To Work Without Negative Consequences.
Below is an annual breakdown of the minimum salary for colorado employees, with the first changes effective beginning july 1, 2020 (which differs slightly from a previously proposed breakdown.
It’s Important To Note That This Minimum Wage Experiences Annual Adjustments, Factoring In The Consumer Price Index To Cater To The Needs Of Colorado Residents.
Colorado’s new minimum wage rates increased on jan.
Colorado Salaried Minimum Wage 2024 Ava Phylis, This Is Higher Than The Federal Minimum Wage Of $7.25 Per Hour, And It Is Also Higher Than The Average.
Beginning july 1, 2024, $132,965 or more per year;
Colorado Salaried Minimum Wage 2024 Ava Phylis, Below Are Current (First Listed, In Bold) And Prior Versions Of Key Colorado Labor Statutes.
This is up from the $40,500 minimum of 2021, with planned increases every year until $55,000 is reached in 2024.