A U.S. Department of Labor Opinion Letter (FLSA2008-1NA) has addressed the issue of whether the minimum salary of $23,660/year ($455/week), generally required to meet the exemptions tests under the Fair Labor Standards Act, can be prorated. For example, could a full time exempt employee who was making $30,000/year whose hours were reduced to 20/week and pay cut to $15,000 remain exempt? (The employee’s duties continued to fall within the exemption.) The DOL says no. Such proration is not allowed. To qualify for the exemption the employee would have to receive at least $455/ week regardless of the number of days or hours worked. Remember that to qualify for most exemptions (and not be subject to overtime) both pay and duties tests must be met. Additionally, some states impose even stricter requirements.
So there, you did learn something new today.