What is overtime pay?
Additional hourly pay for working over the regulated amount of weekly hours. Usually, overtime pay occurs for any hours worked over 40 hours in a work week.
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Overtime pay is additional compensation that employees receive for working more than the designated or regulated number of hours in a work week. It is usually calculated as a higher hourly rate, typically one and a half times the regular hourly wage. In most countries, including the United States, overtime pay is mandated by labor laws to provide a financial incentive for employees to work beyond the standard hours. The specific regulations regarding overtime pay, such as the number of hours that qualify as overtime and the rate of pay, vary by country and jurisdiction.
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