Semi-monthly pay: 24 pay periods a year
Semi-monthly pay means paid twice a month, usually the 15th and the last day, which gives 24 pay periods in a typical year.
Typical periods
24
per year
Gap between pay dates
varies
by calendar month
Monthly equivalent
2.00
pay dates a month
Why 24 is fixed
Semi-monthly pay is tied to the calendar rather than to a fixed number of days, so the count does not drift. Two pay dates in each of twelve months is always 24, though the gap between them varies from 13 to 16 days depending on the month.
Semi-monthly against the other schedules
| Schedule | Periods a year | How it works |
|---|---|---|
| Weekly | 52 | paid every week, usually on the same weekday |
| Fortnightly | 26 | paid every two weeks, 26 times in most years |
| Semi-monthly | 24 | paid twice a month, usually the 15th and the last day |
| Monthly | 12 | paid once a month |
Fortnightly and semi-monthly are the pair most often confused. Fortnightly pays every 14 days, so the date moves through the month and lands 26 or 27 times a year. Semi-monthly pays on two fixed dates, so it is always 24. The difference is two pay dates a year and a different amount in each one.
Questions
- How many semi-monthly pay periods are in a year?
- 24 in a typical year.
- How is each pay period calculated?
- By calendar month, so the gap varies with month length.
- What is the monthly equivalent?
- 2.00 pay dates a month on average, though the figure is exact.