With this type of payroll, employees get paid on specific dates, which results in pay processing on different days of the week. In other words, you can get paid on a Friday and then a Wednesday. Typically, pay dates for this schedule are approximately 15 days apart. For example, employees can get paid on the first day of the month and then again on the 15th of the month. The amount of money an employee receives per paycheck may fluctuate depending on their employer's pay schedule.
However, they ultimately get paid the same amount in a given year. To determine how much you get paid each pay period, you can divide your wages by the number of pay periods your employer offers. Though these amounts differ, you end up receiving the same amount of money by the end of the year. You also have to pay the same amount of taxes no matter what pay schedule you're following.
Even if you have a pay schedule you're accustomed to, you can always change it to fit your particular needs. Keep in mind that regardless of the pay schedule you choose, employees get paid the same amount each year. To help you determine which to follow, consider the following pros and cons for both a biweekly and bimonthly pay schedule:.
Understanding the advantages that come with a biweekly pay schedule can help you discern which frequency is best for your business and your employees. Consider these advantages that a biweekly pay schedule presents:. Just as with a biweekly pay schedule, a bimonthly pay schedule also comes with several advantages for both employees and employers. Here's a look at the benefits a biweekly pay schedule may provide both parties:. To get a better idea of what a biweekly pay schedule entails, it's important to consider any drawbacks it presents in addition to its advantages.
Here are the disadvantages of a biweekly pay schedule:. While a bimonthly pay schedule comes with several advantages, it also comes with many disadvantages for both employees and employers. Here are some of the cons that come from this type of pay schedule:. Find jobs. In fact, so fraught is this territory that you'd do well to make sure that your context explains just what you mean when you use any of these bi- compounds: "Employees are paid bimonthly, on the first and third Fridays of the month.
But what about when you're at the mercy of English as it's wielded by others? Well, when you are a reader or listener, we're afraid the best you can do is to approach biweekly and bimonthly with a bit of side-eye—and perhaps the kind of sorrow aroused by circumstances beyond your control or power to repair.
Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free! Log in Sign Up. More Words At Play. Merriam-Webster's Words of the Week - Oct. Merriam-Webster's Words of the Week - Nov. Time Traveler. Love words? A biweekly payroll is paid every other week, usually on a Friday.
From an efficiency perspective, the semimonthly payroll is preferable, since there are two fewer payrolls per year to prepare. Also, it is somewhat easier to apportion salaries and wages among the correct months with the semimonthly method, since there is less need for month-end adjusting entries. From the perspective of employee relations, the biweekly payroll is preferable, since employees become accustomed to being paid approximately twice each month, and then receive two extra "free" paychecks each year.
It could mean both! A biannual event could take place twice a year June, then December, for example or every other year , , etc.
Find out what other words are related to biweekly here! A fortnight is a period of two weeks. Fun fact: the fort in fortnight has nothing to do with Fort McHenry or the pillow forts you built as a kid. If all else fails, context, context, context! If you get a new job that pays biweekly , odds are—given how the world works and all—you get paid every other week.
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