What is Overtime Pay?

According to the Fair Labor Standards Act (FLSA), anyone who works beyond the standard 40-hour workweek is eligible for overtime pay. Overtime pay is the compensation employees get for working longer than standard hours. 

If the normal work week is 35 hours and the employee works 50 hours, they are eligible to earn overtime pay for the extra 15 hours. Overtime pay rate varies in different companies and is determined by various factors besides hours worked.