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Not necessarily. Being paid on a salary basis is only one of three criteria that must be met for an employee to be considered exempt from overtime under the white collar exemptions of the FLSA. The other two criteria include being paid at least the minimum required salary under state or federal law, and meeting the applicable duties tests for job activities.
['Wage and Hour']
['Fair Labor Standards Act (FLSA)', 'Overtime', 'Wage and Hour']