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Financial Specialist Overtime Lawsuits: Wage & Hour Laws

Financial Specialist Overtime Lawsuits: Wage & Hour Laws

Commonly asked overtime pay law questions about Financial Specialists:

What Is a Financial Specialist?

Financial Specialists assess their clients’ needs, as well as sell insurance, investment services, certificates of deposits and/or other financial instruments.

What is the Salary Range for a Financial Specialist?

Depending on the work setting and state where Financial Specialists are employed, the U.S. Bureau of Labor Statistics (BLS) noted that in 2016, Financial Specialists made between $39,000 and $118,000, with the average annual salary being approximately $76,000.

How Many Financial Specialists Are Nationally Employed?

According to the United States Department of Labor, employment estimate and mean wage estimates for this occupation are as follows:

Employment Employment RSE* Mean Hourly Wage Mean Annual Wage Wage RSE
123,270 1.2% $36.65 $76,230 0.6%

*RSE: The relative standard error (RSE) is a measure of the reliability of a survey statistic. The smaller the relative standard error, the more precise the estimate.

According to the United States Department of Labor, the percentile wage estimates for a Financial Specialist are as follows:

Percentile 10% 25% 50% (Median) 75% 90%
Hourly Wage $18.75 $24.98 $33.40 $44.38 $57.10

Where Are Most Financial Specialists Employed?

According to the United States Department of Labor, states with the highest employment level in this occupation are as follows:

State Employment Employment Per Thousand Jobs Location Quotient Hourly Mean Wage Annual Mean Wage
California 14,390 0.90 1.03 $38.65 $80,390
Texas 9,090 0.77 0.88 $35.75 $74,370
Illinois 6,850 1.16 1.32 $42.89 $89,210
New Jersey 6,590 1.67 1.90 $36.72 $76,380
Florida 6,550 0.80 0.91 $33.76 $70,220

Financial Specialist Overtime Pay Lawsuit News

Financial Specialist Overtime Pay Lawsuit News

H&R Block Wins Overtime Lawsuit

ST. LOUIS — The Eighth Circuit Court of Appeals upheld a Missouri federal judge’s ruling to dismiss a class action overtime lawsuit against H&R Block. The lawsuit alleged H&R Block refused to pay its tax professionals proper wages and overtime for time spent in post-tax season training. The judge granted summary judgment to H&R Block […]

Read All Financial Specialist News on Overtime Pay Cases and Settlements

What are the Laws for Financial Specialist Overtime Pay?

Under the Fair Labor Standards Act, Financial Specialists are often entitled to overtime pay for all hours worked over 40 in one week. If an employer denies a Financial Specialist overtime wages, it could give rise to an overtime pay lawsuit.

There are strict time limitations for filing a claim so it is important that you discuss your case in a timely manner. If you wait too long, you may lose your ability to recover some or all of your back pay. An experienced Financial Specialist overtime pay attorney can determine whether you are entitled to overtime wages based upon your job description, job duties, rate of pay, and number of hours worked.

Some states have their own overtime pay laws that may be slightly different from the FLSA with respect to overtime pay for Financial Specialists. There are strict time deadlines for filing lawsuits so it is essential that you contact an attorney immediately.

Are Financial Specialists Entitled to Overtime Pay?

Because Financial Specialists perform numerous responsibilities and functions for their clients and financial institutions, they often work far more than 40 hours in a workweek. Many of them are not paid overtime for these excess hours as required under the FLSA. The employer’s failure to pay required overtime to a Financial Specialist can result in a lawsuit for overtime pay.

To determine whether you are eligible for filing a wage claim, contact our experienced Financial Specialist Overtime Pay Lawyers at (855) 754-2795 for a Free Consultation to discuss your case or complete the Free Unpaid Overtime Case Review Form on this page.

We will discuss your situation and determine if you have a claim. If you are owed unpaid wages, we will represent you under our No Fee Promise, which means there are never any legal fees or costs unless you receive a settlement.

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