Not necessarily. Employers and employees in California are covered by both federal and state laws. Employers in California must abide by whichever law provides greater protection or advantages to its employees.
The federal laws relating to wages and hours for employees are set forth in the Fair Labor Standards Act (29 U.S. Code, Chapter 8). Section 13(a)(1) does provide an exemption from the federal overtime and minimum wage requirements for highly compensated employees (those earning in excess of $107,432 per year).
California law, however, does NOT have a similar exemption. In California, for an employee to be exempt from overtime obligations, they must be paid a salary equivalent to twice the state’s minimum wage, based upon a 40-hour workweek AND the nature of the employee’s work must be such that it meets one of several tests established for overtime exemptions by the California Industrial Welfare Commission.
Generally speaking, for an employee to be exempt from overtime in California, they must perform certain types of work deemed by the state to make the employee exempt from overtime compensation.
Read about Understanding Basic Overtime Requirements in the HR Library.