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Financial Services & Accounting Firms: Managing Part-Time Worker Payroll (2026)
Part-time payroll in financial services firms carries the same withholding and overtime rules as full-time, and part-time hours count toward the ACA employer mandate at 120 hours a month per full-time equivalent. BEG: $45 per employee per month inside the payroll software you already use, live in 3 to 5 days.
Rules that matter for part-time financial services firm staff
For non-exempt staff paid by commission, salary or other basis, overtime must be computed on the average hourly rate found by dividing total pay for the workweek by total hours actually worked. The regular rate includes all remuneration except statutory exclusions such as discretionary bonuses and gifts.
Financial services employees generally meet the administrative exemption duties test when their work includes collecting and analyzing a customer's income, assets, investments or debts, determining which financial products fit, and advising on their advantages and disadvantages. An employee whose primary duty is selling financial products does not qualify for the administrative exemption.
The arithmetic
Overtime is owed after 40 hours in the workweek regardless of part-time status, and a part-time employee who picks up shifts across two roles has their regular rate blended across both. For the ACA, monthly hours of all non-full-time employees are pooled and divided by 120 to produce full-time equivalents; 60 part-time employees at 60 hours a month are 30 FTEs. For FMLA, a part-time employee counts as one employee toward the 50 threshold and is eligible personally only after 1,250 hours in the prior 12 months. At the BLS May 2025 national median for personal financial advisors, $105,070 a year or about $51 an hour, a 20-hour week is $1,010 before tax.
The rules behind this page, with sources
General information, not legal advice. Every rule below was read on the agency page linked next to it.
- For non-exempt staff paid by commission, salary or other basis, overtime must be computed on the average hourly rate found by dividing total pay for the workweek by total hours actually worked. The regular rate includes all remuneration except statutory exclusions such as discretionary bonuses and gifts. [DOL Fact Sheet #23]
- Financial services employees generally meet the administrative exemption duties test when their work includes collecting and analyzing a customer's income, assets, investments or debts, determining which financial products fit, and advising on their advantages and disadvantages. An employee whose primary duty is selling financial products does not qualify for the administrative exemption. [DOL Fact Sheet #17M]
Read the full guide to ACA reporting and the employer mandate, and the rest of the financial services firm payroll library.
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Frequently Asked Questions
Do part-time financial advisors at a financial services firm count toward the ACA 50-employee test?
Yes, as full-time equivalents: their monthly hours are pooled and divided by 120. That is why the count is run from payroll hours every year rather than from headcount.
Is overtime owed to a part-time financial services firm employee?
Yes, after 40 hours in a workweek, at time and one half on the regular rate. Part-time status changes benefits eligibility, not the overtime rule. For non-exempt staff paid by commission, salary or other basis, overtime must be computed on the average hourly rate found by dividing total pay for the workweek by total hours actually worked.
What does managed payroll cost for a financial services firm?
$45 per employee per month, all-inclusive, inside the payroll software you already use, with no monthly minimum. Deferred compensation structures, FINRA recordkeeping and performance fee payroll are configured at setup, not billed as add-ons.
Related Resources
Anthony leads payroll solutions at Business Executive Group, a national managed payroll firm serving businesses across industries including Financial Services & Accounting Firms. BEG manages payroll at $45 PEPM, all-inclusive, with deep expertise in compliance, multi-state filing, and industry-specific payroll requirements. Get instant pricing at beghr.com.
Authoritative source: U.S. Bureau of Labor Statistics: Occupational Employment and Wage Statistics
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