Governor Kathy Hochul announced an agreement with legislators on a new budget for the state of New York that would include increasing the minimum wage to $17 an hour by 2026 in NYC, Westchester and Long Island (rising by 2027 for the rest of the state). The reports do not indicate the effect on the earnings level for executive and administrative employees to be classified as exempt from overtime, though traditionally that level equals 75 times the hourly wage (in which case it would rise to $1,275 a week, or $66,300 a year).
