The new year brings a pay raise for an estimated 1.3 million workers — along with new overtime rules for employers. 

The Labor Department rules that go into effect on January 1 raise the threshold at which employees are exempt from being paid overtime. The new cutoff is $684 per week, or $35,568 a year — a 50% increase from the previous threshold of $455 per week or $23,660 annually.

The jobs most likely to be affected by the increase are shift supervisors or assistant managers at restaurants, retailers and manufacturing companies. Workers at companies of all sizes will be affected, but the rules are likely to have a greater impact on small companies that don't have the revenue stream that larger businesses do to use as a cushion against the higher labor costs.

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