According to Bloomberg BNA, reports are that the new minimum salary for the federal Fair Labor Standards Act's Section 13(a)(1) "white collar" exemptions will annualize to "about" $47,000.
The actual salary requirement is not a per-year figure. Instead, it is a weekly or weekly-equivalent amount paid each pay period, as we have said previously. If the figure ultimately adopted turns out to be one annualizing to $47,000, then this suggests a threshold of around $904 per week.
Or perhaps the U.S. Labor Department's goal is to double the current $455-per-week level. Doing so would produce a salary minimum of ($455 × 2) = $910, which annualizes to $47,320. This too might be characterized as being "about" $47,000.
In the end, employers will know for sure what the figure is only after the final revised regulations are officially published.