Currently the minimum salary for exempt employees under 25 employees is $58,240.
The rate is based on the CA state minimum wage of $14/hour. It is set to increase to $15/hr. next year 1/1/23.
However, due to the increase in inflation estimated to be over the 7% limit set by CA’s current minimum wage law, it looks like minimum wage may increase to $15.50/hr. for all employers.
This means the salary exempt threshold will increase over $6,000 to $64,480.