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Our team at The Usage has selected the best planner of See more words from the same year. Accessed 11 Nov. Nglish: Translation of biweekly for Spanish Speakers. Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!
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Log in Sign Up. More Words At Play. Merriam-Webster's Words of the Week - Oct. Homophones, Homographs, and Homonyms. Time Traveler. Love words? Need even more definitions? Ask the Editors 'Everyday' vs. What Is 'Semantic Bleaching'? For hourly employees, the amount they get per paycheck varies. Employers usually disburse paychecks five days after a pay period to process all of the hours worked and deduct taxes.
That's why it sometimes takes three weeks to receive your first paycheck after starting a new job, even if your payroll is biweekly. Biweekly and semimonthly pay are similar, but there's a key difference. While biweekly pay means you get paid every other week, semimonthly pay means you get paid twice a month.
For semimonthly pay, companies set two specific days of the month that they pay employees. For example, a company might pay its employees on the 15th and 30th of every month. Semimonthly pay results in 24 paychecks instead of 26 for biweekly pay. The paychecks are slightly higher to compensate for receiving fewer of them throughout the year. Semimonthly paydays mean you get paid more per paycheck, but there are fewer paychecks. Biweekly paydays mean you get less on each paycheck, but you have more paydays.
You can also apply this same idea if you're hourly, as long as you factor in any overtime hours you work during a pay cycle. Read more: Semimonthly vs.
A small disadvantage to biweekly pay is the ability to accurately calculate your take-home pay. When you get paid semimonthly, your paycheck is evenly divided twice, making it easier to factor in deductions like taxes and benefits. Since you receive two extra paychecks per year on a biweekly cycle, there are two months when you need to perform some extra calculations to find your take-home pay.
However, you can use online resources to help you make any additional calculations for your paycheck. By the end of each year, you will have paid the equivalent of 13 monthly payments instead of This simple technique can shave years off your mortgage and save you thousands of dollars in interest.
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