Dumb salary question

[imported_griffis]

Hey all,

Really quick question about salary, if a company says they will pay you $2000 semi-monthly, $48000 annually, is it just that? Meaning twice a month you get paid the $2000 or is that relative? I always thought salary was calculated on a 52 weeks in a year basis. Let me know if I need to clarify

 

[jemcam]

You need to clarify if it's every two weeks or truly just twice a month. The reason is that on certain months you can get a third paycheck. If you do, there shouldn't be any deductions for benefits taken out of it, only taxes.

My company pays every other friday. Usually twice a year we get an extra 3rd check in a month and it's considerably larger.

The easiest way would be to ask them what days you're going to get paid for the coming year.

 

[imported_griffis]

It will be twice a month, the 1st and 15th of the month.

 

[iamwiz82]

Originally posted by: jemcam
You need to clarify if it's every two weeks or truly just twice a month. The reason is that on certain months you can get a third paycheck. If you do, there shouldn't be any deductions for benefits taken out of it, only taxes.

My company pays every other friday. Usually twice a year we get an extra 3rd check in a month and it's considerably larger.

The easiest way would be to ask them what days you're going to get paid for the coming year.

We get paid bi-monthly and do not see a change in deductions in the sacred months with 3 checks. I think that is at the option of HR.

Regarding the OP, there is no set pay period for every company to use. You could be paid monthly, weekly, bi-weekly, semi-monthly, etc. I've never seen it, but I'm sure there are companies that pay bi-monthly.

 

[imported_griffis]

Semi-monthly is the same as bi-monthly.

 

[iamwiz82]

Originally posted by: griffis
Semi-monthly is the same as bi-monthly.

No, semi-monthly is twice a month, bi-monthly is every two months.

 

[FoBoT]

salary is typically two times per month, 24 paychecks per year, that is what i get

hourly wages are often paid weekly, so you get 52 paychecks a year

it can vary from company to company of course

 

[Jeraden]

The most frequent pay cycles are either once per month, twice per month, weekly, or biweekly (every 2 weeks). You are on the twice-per month cycle, so yeah, you'll get a total of 24 paychecks per year.

 

[richardycc]

they are paying you $23.07/hr.

/end thread

 

[pontifex]

Originally posted by: FoBoT
salary is typically two times per month, 24 paychecks per year, that is what i get

hourly wages are often paid weekly, so you get 52 paychecks a year

it can vary from company to company of course

yep, i'm salaried and get paid weekly
previous job was hourly and got paid every two weeks.

 

[Beattie]

Originally posted by: griffis
Hey all,

Really quick question about salary, if a company says they will pay you $2000 semi-monthly, $48000 annually, is it just that? Meaning twice a month you get paid the $2000 or is that relative? I always thought salary was calculated on a 52 weeks in a year basis. Let me know if I need to clarify

Common ways to get paid are:

Biweekly (every 2 weeks) this means they take your annual salary, divide it by 26 and pay that every 2 weeks. Advantage is that there's 2 months a year that you get 3 paychecks. I believe they are March and September this year.

Semi Monthly (2 times a month) This means they take your annual salary, divide it by 24 and pay you 2 times a month. Commonly on the 1st and 15th or 15th and last day of the month. Advantage is that each check is a little larger.