US-New York

Guide to Employment in US-New York

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flag US-New York Public Holiday

  • New Year's Day

    01 Jan

  • Martin Luther King, Jr. Day

    15 Jan

  • State Holiday

    19 Jan

  • Lincoln's Birthday

    12 Feb

Exchange Rate

June 13, 19:18 UTC

USD

Wage

Minimum Wages

  • • The federal minimum wage is $7.25 per hour.
    o New York All Employees: $16.00 per hour starting 2024,
     Fast Food Restaurants with 60+ locations nationwide: $20.00 per hour (effective April 1, 2024)
     Healthcare Workers:
    • $18.00 per hour (general hospitals)
    • $21.00 per hour (skilled nursing facilities)
    • $23.00 per hour (home health agencies) (all effective June 1, 2024)

Median Salary

Entry-Level Positions $63,000 - $82,700
Mid-Level Positions $93,600 - $129,000
Experienced & Managerial Positions $102,000 - $145,000
Specialized & Senior-Level Positions > 175,000+

*With college degree

Annual Salary Growth

3% - 5%

STATUTORY CONTRIBUTION

Current contribution rates

CONTRIBUTION TYPE EMPLOYER
AMOUNT
EMPLOYEE
AMOUNT
APPLICABLE
TO
Social Security (OASDI) 6.2% 6.2% All Staff
Federal Unemployment Tax (FUTA): 6% N/A All Staff
Medicare 1.45% 1.45% All Staff
Additional Medicare Tax (AMT): N/A 0.9% up to Gross $200,000 then 1.45% after Staff with at least $200,000 annual gross salary
State Disability Insurance (SDI): 0.5%-2.7% of wages capped at .60 per week. N/A All Staff
Paid Family Leave (PFL) Insurance 0.511% of wages capped at $137,000 0.373% of wages (capped at $333.25 in 2024 Insurance most be $11,000 if self-insured for disability and Paid Family Leave
Unemployment Insurance (UI) 2.1% to 9.9% For new employers the rate is 3.4% for the first 5 quarters 0.7% All Staff


New York State Insurance Fund (NYSIF)
basic plan is 0.60% is Required either through a private insurer or through. Link below

NYSIF Disability Premium Calculator https://www.nysif.com/DBL/Tools/

OTHER BENEFIT

Common Benefits

  • o In New York since July 1, 2023, the minimum-security deposit for workers' compensation self-insurers is a policy worth $1,787,000.
  • o Health Dental Vision Insurance Contribution/ Allowance
  • o Transportation Mileage Reimbursement / Car allowance (Workers who travel for work)
  • o Retirement plans 401k/ Roth IRA (1-4% Employer Match)
  • o Cell Phone/ Internet Allowance (remote workers)

INCOME TAX

New York Personal Income Tax
4% to 10.9%
Federal Personal Income Tax
For all workers: range from 10% - 37%

  • TAXABLE INCOME TAX RATE
    $0-$44,550 4%
    $44,551-$89,100 5.25%
    $89,101-$133,650 6.41%
    $133,651-$211,45 6.85%
    Over $211,450 8.82%%

Income Tax

TAXABLE INCOME TAX RATE
0 - $23,200 10%
$23,201 - $94,300 12%
$94,301 - $201,050 22%
$201,051 - $531,900 24%
$531,901 - $1,063,800 32%
$1,063,801 - $2,127,600 35%
Over $2,127,600 37%

Both residents and non-residents use the same tax brackets and rates for the USA andNew York State income tax for income earned in USA/ NY. These rates range from 4% to 10.9%, depending on your taxable income and filing status.

WORKING HOURS

Statutory

up to

40 hours Weekly hours

No federal law sets a universal standard for working hours. Fair Labor Standards Act (FLSA)Which applies to non-exempt employees Statutory Hours common practice is working more 40 hours in a 7-day workweek

Typical Practice

.40 hour work week hours

8 hours work day, 5 days a week

OVERTIME

Overtime

Unless exempt, employees in the United States are entitled to overtime pay for working more than 40 hours per week. Overtime pay must be at least 1.5 times the employee's regular rate of pay.

  • Daily Overtime: After 8 hours in a workday, you must be paid time and one-half your regular rate of pay for all hours worked.
  • Weekly Overtime: After 40 hours in a workweek, you must be paid time and one-half your regular rate of pay for all hours worked.
  • Double Overtime: After 12 hours in a workday and for all hours worked on the seventh consecutive day in a workweek, you must be paid double your regular rate of pay.

EMPLOYMENT CONTRACT

At-will employment

The most common for retail jobs is the assumption unless specified. An at-will employment contract is an agreement between an employer and an employee in which either party can terminate the employment relationship at any time, for any reason or no reason at all.

Fixed-term

This type of employment is the most common for professional jobs. A fixed-term employment contract is an agreement between an employer and an employee that has a specific start and end date.

Independent contractor agreements

An independent contractor agreement is an agreement between a company and a person who is providing services to the company but is not considered an employee.

Commission-only agreements

A commission-only agreement is an agreement between an employer and a salesperson in which the salesperson's compensation is based on the amount of goods or services they sell.

Piecework agreements

A piecework agreement is an agreement between an employer and a worker in which the worker is paid based on the number of pieces of work they complete.

Termination

No legal requirement for the notice period and severance payment.
Common Practice: 2 – week notice for both party In New York final pay should be issued within 72 hours of employment ending.

No Statutory Severance Pay: no legal requirement, unless it's specifically agreed upon in an employment contract or collective bargaining agreement.

PUBLIC HOLIDAY

Paid Public Holidays

11

Every year

 Monday, January 1 New Year’s Day
 Monday, January 15 Martin Luther King Jr. Day
 Monday, February 19 Presidents’ Day
 Monday, May 27 Memorial Day
 Wednesday, June 19 Juneteenth
 Thursday, July 4 Independence Day
 Monday, September 2 Labor Day
 Monday, October 14 Columbus Day
 Monday, November 11 Veterans Day
 Thursday, November 28 Thanksgiving Day
 Friday, November 29 Day after Thanksgiving
 Wednesday, December 25 Christmas Day

LEAVE

State Specific for Federal Leave see US Country Guide

LEAVE TYPE ENTITLEMENT AMOUNT APPLICABLE TO
Pregnancy Disability Leave (PDL): • Pregnancy Leave: up to 26 weeks of unpaid leave for medical reasons related to pregnancy or childbirth, with a doctor's note.
• Overlap Limit: While Family Leave and Short-Term Disability can be used within the same year, their combined duration cannot exceed 26 weeks in a 52-week period.
Applies to Full-time employees: 26 consecutive weeks of employment with an average work schedule of 20 hours or more per week.
Part-time employees: 175 days worked, which do not need to be consecutive, with an average schedule of less than 20 hours per week.
Short Term Disability Leave: • is 50 % of your average weekly wage for the last 8 weeks worked
• cannot be more than the maximum benefit allowed, currently $170 per week
• is paid for a maximum of 26 weeks of disability during in a year
Statutory disability and Paid Family Leave benefits insurance four weeks following the 30th day of employment.
Unpaid Bereavement Leave • Duration: Up to 3 days of unpaid leave per year.
• Uses: To attend the funeral or memorial service of a deceased family member.
Applies to all employees even on probation
Jury Duty Leave • Duration: Employees are entitled to $40 per day leave for first 3days of jury duty. State pays the same after 3rd day
• Employers cannot: Fire, demote, or otherwise penalize employees for serving on jury duty.
Applies to all employees even. on probation

REFERENCE

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US-New York Public Holiday 2024

  • New Year's Day

    01 Jan

  • Martin Luther King, Jr. Day

    15 Jan

  • State Holiday

    19 Jan

  • Lincoln's Birthday

    12 Feb

  • State Holiday

    13 Feb

  • George Washington's Birthday

    19 Feb

  • State Holiday

    02 Mar

  • Town Meeting Day

    05 Mar

  • Evacuation Day

    17 Mar - 18 Mar

  • State Holiday

    25 Mar

  • State Holiday

    29 Mar

  • César Chávez Day

    31 Mar

  • Patriot's Day

    15 Apr

  • State Holiday

    21 Apr

  • State Holiday

    22 Apr

  • Confederate Memorial Day

    10 May

  • Memorial Day

    27 May

  • State Holiday

    03 Jun

  • Juneteenth

    19 Jun

  • Independence Day

    04 Jul

  • Bennington Battle Day

    16 Aug

  • State Holiday

    27 Aug

  • Labor Day

    02 Sep

  • Columbus Day

    14 Oct

  • Alaska Day

    18 Oct

  • Nevada Day

    25 Oct

  • State Holiday

    05 Nov

  • Veterans Day

    11 Nov

  • Thanksgiving Day

    28 Nov

  • Day after Thanksgiving Day

    29 Nov

  • State Holiday

    24 Dec

  • Christmas Day

    25 Dec

  • Day after Christmas

    26 Dec