Lagging semi-monthy payroll schedule: common?
Hi all --
My new job has a lagging semi-monthly payroll schedule, which I hate and is taking a long time to get used to. I had never heard of it before and definitely never been subject to one. For example:
- Pay Period: 1st-15th of the month,
- I'll get paid: somewhere between the 16th-26th.
- Pay Period: 16st-end of the month,
- I'll get paid: somewhere between the 1st -10th.
I've talked to my HR person about this and they've said "this is really common, just google 'simi-monthly payroll' and check it out". So, I did, and found that while it is out there, almost every reference is from a college (.edu) or government institution (.gov).
Is this really common in the non-edu non-gov world? And why is it so popular in those institutions? What advantage does this give my company, as it certainly give me nothing but a headache... "I wonder if my rent check will bounce this month...."