Nevada and System/Network Administration hourly wages only? 2138
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Hi all,
Sorry about the vague topic, let me explain.
I’m currently a System Administrator for a large privately owned casino here in Las Vegas, NV, and up until about two weeks ago I was salaried. They just switched me to hourly due to SOX compliance, and they gave me a vague reason about someone in a similar position to mine suing his company because they didn’t pay him overtime (which makes sense, I never expected to get overtime when I take a salaried position). Can anyone provide any information on this? I’d like a reference link or some documentation to support this claim, because I find it hard to believe one person can make that much of an impact on the entire industry here.
Thanks in advance,
Gotan R.
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I don’t see the connection between SOX compliance and salaried vs hourly payroll policies. Also, if the company is not publicly traded, they are not required to be SOX compliant, correct?
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I agree with Igor. Also, as someone pointed out in another thread, people seem to be throwing SOX around as excuses for everything these days.
Do you lose benefits as an hourly?
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Hi and welcome to the forums … I agree with the other comments noted above. The only idea that comes to mind is that maybe your company is comptemplating moving from private to public in the future?
Still, SOX is about controlling risks for publicly held companies listed on the stock exchanges. And, even if your privately held firm was eligible for SOX (or perhaps moving from private to publicly held), the risks of a large financial lawsuit by an overworked IT professional should be ranked as very low. (e.g., OT and sometimes 24x7 on-call support coverage is an expected part of our jobs).
Hopefully, no benefits or salary (based on a normal week) were lost. If you are now eligible for OT pay, that may an unusual way of increasing your salary, althought there is a little more work involved in now tracking/reporting your time.
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Agree with the previously posted comments. There is no direct SOX requirement that could compel a company to do something like this. Basically it sounds like a BS excuse for doing something that they wanted to do for completely different reasons.
And, as igor pointed out, if your company is private it does not need to comply with SOX anyway.