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


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

It’s not the same as bi-weekly.

Bi-weekly = 26 paycheques per year. 15th and 30th = 24 paycheques per year.

24 pay periods under this system.

biweekly pay periods give 26 pay periods.

So yeah, there are fewer in your new job.

What’s the difference as long as the annual amount is the same?

All good points, because terminology can be important, I think the proper term for your scheme would be semi-monthly. Also, you’re looking for “fewer” in your paychecks per year. “Less” is for things you can’t quantify, like “We need less war in the world”, fewer is for things you can count, “I have 3 fewer apples than you do”.

The good news for you is each pay check is going to be a bit larger than a bi-weekly scheme and also you can better time your monthly bills with you direct deposits. Bi-weekly sucks when you sometimes get a check in the middle of the month and then a few days after the 1st of the new month and your rent/mortgage is due on the 1st.

You get paid 24 times per year as compared to 26. However, the paychecks will be very slightly larger to compensate for this, as the days for the two less paychecks will be on other paychecks throughout the year.