It all depends on the contract.
Answered - Project Manager/Recruiter (Current Employee) - Colorado Springs, CO
Consultants that are employee IT staff are paid Salary, no overtime pay
Answered - ERP Analyst Advisor (Current Employee) - Fairfax, VA
Salary, no overtime pay.
Answered - ISSM (Former Employee) - San Diego, CA
IT staff is paid salary. Only contractor's get paid hourly
Answered - System Architect Principal(Data Architect) (Current Employee) - Washington, DC
Hourly, OT is very, very rare but has been authorized in the past.
Answered - Computer Operator (Current Employee) - Fort Carson, CO