Not necessarily. This is a common misconception held by employees and their employers. It is true that in order to fall under one of the white collar exemptions as an executive, administrative or professional employee, you must be paid on a salary basis of at least $455 per week. However, there are other requirements in addition to the salary basis test. For each category of exemption, the employee must meet certain criteria to be exempt. See our page on Overtime Exemptions for more information.