Overtime pay is calculated as 1.5 times the regular hourly wage for hours worked beyond 40 hours per week (as per U.S. labor laws). Formula: Overtime Pay = Overtime Hours × (Hourly Wage × 1.5)
Example: If a kitchen staff member earns $80/hour and works 45 hours, their overtime pay is: 5 × (80 × 1.5) = $600
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Market Intelligence on Deep Techs
Overtime pay is calculated as 1.5 times the regular hourly wage for hours worked beyond 40 hours per week (as per U.S. labor laws). Formula: Overtime Pay = Overtime Hours × (Hourly Wage × 1.5)
Example: If a kitchen staff member earns $80/hour and works 45 hours, their overtime pay is: 5 × (80 × 1.5) = $600