Yes, a company may have to pay overtime to a stockbroker, however there are certain exemptions. According to the Fair Labor Standards Act (FLSA), stockbrokers fall under the executive, administrative or professional exemption found at FLSA section 13(a)(1). The exemption applies to anyone who earns in excess of $455 per week on a salary or fee basis and whose primary duty is the performance of office or non-manual work directly related to the management or general business operations of the employer.
Every case is different and that is why if you work as a stockbroker and believe that your employer is violating the law by not properly paying you overtime wages you should consult with an experienced attorney. 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. Call our experienced law firm now at (855) 794-2795 for a free consultation to discuss your case.