Effective January 1, 2018, the minimum wage has increased for all employers regardless of size. For employers with 25 of fewer employees, the minimum wage increased from $10.00 per hour to $10.50 per hour. For employers with 26 or more employees, the minimum wage increased from $10.50 per hour to $11.00 per hour.
This not only affects hourly employees, but salaried employees as well. To qualify for most overtime exemptions, salaried employees must be paid at least two times the minimum wage for full time employment, meaning a yearly salary of at least $43,680.00 for small employers and $45,760.00 for larger employers.