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Semi-monthly pay period definition and meaning
A semi-monthly pay period occurs when employees receive two paychecks each month, usually the 1st and fifteenth of the month, or the fifteenth and the final day of the month.
More about semi-monthly pay periods
A semi-monthly payroll schedule can also be referred to as “bi-monthly.” While technically, bi-monthly does mean every two months, in payroll terms, it means two paydays per month, for a total of 24 paychecks per year.
Using semi-monthly pay period in a sentence
“Because it means each month has two pay periods, moving to a semi-monthly pay schedule has helped keep our cash flow more consistent.”
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