Explain to me how being paid on the 15th and 30th is the same amount of pay as biweekly?

Question

My new job pays on the 15th and 30th of every month. IF those days fall on a weekend we get paid on the friday before. My math is terrible but this feels like I come out with LESS paychecks per year?

In: 0

Answer 1

It’s not exactly the same. In a semimonthly system you get paid exactly 24 times a year. In a biweekly system, you get paid every fourteen days which works out to 26 times a year on average.

Even if you get a different number of paychecks your final take-home pay will wind up the same, since that’s determined by either your hourly wage or your annual salary.