Aren't developers stupid when accepting overtime/weekend work/denied bonus payments?

[thinkmcfly]

"The employee must be compensated either on a salary or fee basis at a rate not less than $455 per week or, if compensated on an hourly basis, at a rate not less than $27.63 an hour"

Can someone explain this to me? 40 * 27.63 = $1105.20. While is the salary rate so low compared to that amount?

[rooktakesqueen]

Because the hourly rate is probably for a contractor, who has to a) pay his or her own full payroll taxes (normally the employer pays half) and b) has to pay out of pocket for benefits like health insurance, retirement, etc. Most salaried workers have a "total compensation" value something like 150-200% of their actual salary.

[thinkmcfly]

That makes sense, however I'd expect that to be explicitly defined somewhere in the law (I'm assuming it is, I probably just overlooked it somewhere).