[tpertee]

Yes, you do lose money in the end as people who get paid Bi-weekly (every other Friday for example) have at least two or three months out of the year where there are three pay periods in the month. Thereofre getting paid on the 15th and 30th reduces your annual earnings.

[ScottGem]

You posted this response to a question that was asked in 2007. Normally I would just have removed it as we don't allow old threads to be revived. But your answer is so WRONG, I just had to correct it. So I moved it to its own thread.

If an employee gets paid bi weekly, there will be 26 pay periods per year. If they get paid on 15th and 30th there are 24 pay periods per year. To determine the salary paid for each paycheck the employer divides the annual salary by the number of pay periods. So there is NO reduction of annual earnings.

Generally only salaried employees have a semi monthly pay period and hourly employees would get a weekly or bi-weekly period because its easier for the employer to calculate.

If your annual salary, for example, is $52,000 Then your semi monthly gross would be $2166.67. This actually gives you $.08 MORE per year. Whereas your bi-weekly salary would be $2000.

We pride ourselves on the accuracy of the advice we give here. It is nice you want to help, but please don't give such clearly wrong advice and please check the dates before responding.

[Fr_Chuck]

Thanks Scott, I hope they were joking