Interestingly, at my company it's based on skill level - everyone works the ~40hr work week, however skill tiers 1-2 are hourly employees and skill tiers 3+ are

Interestingly, at my company it's based on skill level - everyone works the ~40hr work week, however skill tiers 1-2 are hourly employees and skill tiers 3+ are salaried. On average, the company encourages a healthy work/life balance and > 40 is not normal even for salaried, so it's really specific to how the company staffs their needs.