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The offer letter will include the terms of your employment, including things like salary, benefits and paid time off. Decide if these terms meet what you are looking for or whether you want to negotiate a better deal.
Exempt positions are excluded from minimum wage, overtime regulations, and other rights and protections afforded nonexempt workers. Employers must pay a salary rather than an hourly wage for a position for it to be exempt.
Exempt employees refer to workers in the United States who are not entitled to overtime pay. This simply implies that employers of exempt employees are not bound by law to pay them for any extra hours of work. The federal standard for work hours in the United States is 40 hours per workweek.
Pros of hiring exempt employeesYou don't have to pay overtime. When you hire exempt employees, you won't pay overtime no matter how many hours these employees work per week.You can assume they're more experienced.You can give them more responsibility.
DON'T include promises about promotions, pay raises or bonuses in the offer letter. DO include a statement that the terms of the offer letter supersede any prior oral discussions involving the matters addressed in the letter.
In general, offer letters are less formal than employment contracts, which typically set terms and conditions of employment that are legally binding. It's also vital for employers to understand that they aren't required by federal law to send an offer letter to new hires.
With that, every job offer letter should include the following terms:A job title and description.Important dates.Compensation, benefits, and terms.Company policies and culture.A statement of at-will employment.An employee confidentiality agreement and noncompete clause.A list of contingencies.
Some important details about an offer letter are: It is NOT a legally binding contract. It does NOT include promises of future employment or wages. It includes an employment at-will statement.
The offer letter should provide details on the salary and pay periods. Employee compensation should be stated in an hourly, a weekly or a per-pay-period salary amount to avoid the expectation of receiving the full annual salary if the employee is terminated midyear.
Today, companies are moving away from putting bonus expectations in offer letters unless the candidate is adamant about it. If you review your offer letter and there's no detail regarding an actual number mentioned, politely call the firm or recruiter.