Independent payroll-schedule reference · Updated July 2026 Methodology · Submit a correction
Glossary term

Pay period

The recurring window of time covered by a single paycheck.

Definition

A pay period is the recurring window of work time that a single paycheck covers. The four standard U.S. pay periods are weekly (7 days), biweekly (14 days), semimonthly (twice per month, typically the 1st–15th and 16th–end), and monthly (calendar month). The pay period ends on a defined cutoff day; payday follows after a processing lag of two to seven business days. Pay periods determine when overtime resets for non-exempt employees — under the federal Fair Labor Standards Act, overtime is calculated on a workweek basis, not a pay-period basis, so a biweekly pay period contains two independent overtime calculations.

Example

Walmart's pay period runs Saturday through the following Friday, with payday the next Friday. JPMorgan Chase uses a semimonthly pay period that ends on the 15th and the last calendar day of each month.

Related terms

  • Pay frequency — How often paychecks are issued.
  • Payday — The calendar day wages are deposited.
  • In arrears — Wages paid after the pay period ends.
  • Biweekly — Every other week — 26 paychecks per year.
  • Semimonthly — Twice per month on fixed dates — 24 paychecks per year.
  • Gross pay — Total earnings before any deductions.

See also