Various forms of compensation in Illinois include:
Hourly Pay: This involves a fixed rate paid to employees for each hour worked, typically a common method of compensation for various positions.
Salary: Employees may receive an annual sum distributed evenly over pay periods, which is typical for salaried positions in the state.
Supplemental Pay: This category covers any form of compensation that deviates from regular hourly or salary pay. It includes overtime, bonuses, commissions, and tips, among other types of additional income.
Overtime: Additional compensation is earned at a rate of 1.5 times the employee’s hourly rate when they work beyond specific daily, weekly, or consecutive work hour thresholds, typically exceeding the standard 40-hour workweek. It’s important to note that local and federal overtime regulations can vary by location within Illinois, so employers should review and adhere to the applicable laws when compensating their employees.