hows this for vague and subjective? if you're a non-degreed worker performing substantially similar duties and possessing substantially similar knowledge (let's say you key data into excel templates all day and your title is cost analyst assistant) as a degreed analyst who is also keying in data--only you make $10k a year less but have been collecting overtime--you can now be reclassified. there's no provision for 'substantially similar' paygrade--even though exempt employee salaries have traditionally been calculated higher to compensate for the extra hours such a job often entails.
if youre a 'team leader' at a place like wal-mart (doing the same work only a little better than the 5 members of your team), you are now also exempt. sous-chef? fry cook? same duties, same knowledge? asst shift manager atta burger joint? sure you got a title...but no office. and youre right there flippin burgers and supersizing stuff like the other lops. only now youll be working every hour over 40 for free.
amazing how many big-hearted industry lobbyists and business groups fell all over themselves to testify in order to help their formerly non-exempt employees cut through all that vague and subjective stuff that had them confused huh?