Nys Minimum Wage 2024 Salaried Employees. Employers should adjust their minimum exempt salary to $58,458.40 annually ($1,124.20 weekly) to reflect the increase that took effect january 1, 2024 in areas outside of new york city, westchester. New york recently raised the minimum salary basis thresholds for executive and administrative employees in order to satisfy the exemption from overtime.
Beginning in 2024, new york state will raise minimum wage to $16 in new york city, long island, and westchester and $15 elsewhere in the state, followed by $0.50 annual increases in 2025. The minimum wage for employees in new york city, nassau, suffolk, and westchester counties increases to $16 per hour in 2024, and to $15 in other parts of.