Why financial services employers cluster around semimonthly payroll
A semimonthly payroll schedule pays employees twice per month on fixed calendar dates, usually the 15th and the last business day, producing exactly 24 paychecks per year. Semimonthly is favored by banks, insurance carriers, technology companies, utilities, and consulting firms because it aligns naturally with monthly accounting closes.
Within the financial services sector, this pattern reflects the underlying labor mix: a workforce that is predominantly salaried and concentrated in corporate functions. Employers in this group also benefit from a single, predictable payroll close, which simplifies tax filings, benefits accruals, and end-of-period accounting. State law sets a floor (most states require at least semimonthly payroll for non-exempt staff), but large multi-state employers generally adopt the most generous cadence company-wide for simplicity. See the NCSL state payday-law summary for the underlying rules.
Filter Financial Services by pay frequency
All 78 catalogued employers in Financial Services
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| Company | Pay frequency | Payday | HQ | Employees |
|---|---|---|---|---|
| Affirm | Semimonthly | the 15th and last day of the month | San Francisco, CA | 2,400 |
| AllianceBernstein | Semimonthly | the 15th and last day of the month | Nashville, TN | 4,500 |
| American Express | Semimonthly | the 15th and last day of the month | New York, NY | 77,300 |
| Ameriprise Financial | Semimonthly | the 15th and last day of the month | Minneapolis, MN | 13,000 |
| Apollo Global Management | Semimonthly | the 15th and last day of the month | New York, NY | 4,400 |
| Bank of America | Semimonthly | the 15th and last day of the month | Charlotte, NC | 213,000 |
| Bank of New York Mellon | Semimonthly | the 15th and last day of the month | New York, NY | 51,900 |
| Berkshire Hathaway | Semimonthly | the 15th and last day of the month | Omaha, NE | 396,500 |
| BlackRock | Semimonthly | the 15th and last day of the month | New York, NY | 19,800 |
| Blackstone | Semimonthly | the 15th and last day of the month | New York, NY | 4,735 |
| CBOE Global Markets | Semimonthly | the 15th and last day of the month | Chicago, IL | 1,500 |
| CME Group | Semimonthly | the 15th and last day of the month | Chicago, IL | 3,490 |
| Capital One Financial | Semimonthly | the 15th and last day of the month | McLean, VA | 51,985 |
| Carlyle Group | Semimonthly | the 15th and last day of the month | Washington, DC | 2,200 |
| Charles Schwab | Semimonthly | the 15th and last day of the month | Westlake, TX | 35,900 |
| Citigroup | Semimonthly | the 15th and last day of the month | New York, NY | 240,000 |
| Clarivate | Semimonthly | the 15th and last day of the month | London, UK | 11,000 |
| Cohen & Steers | Semimonthly | the 15th and last day of the month | New York, NY | 367 |
| Coinbase | Semimonthly | the 15th and last day of the month | San Francisco, CA | 3,526 |
| Discover Financial Services | Semimonthly | the 15th and last day of the month | Riverwoods, IL | 21,000 |
| Dun & Bradstreet | Semimonthly | the 15th and last day of the month | Jacksonville, FL | 6,500 |
| Eaton Vance | Semimonthly | the 15th and last day of the month | Boston, MA | 1,900 |
| Equifax | Semimonthly | the 15th and last day of the month | Atlanta, GA | 14,000 |
| Evercore | Semimonthly | the 15th and last day of the month | New York, NY | 2,155 |
| FIS | Semimonthly | the 15th and last day of the month | Jacksonville, FL | 65,000 |
| FactSet Research Systems | Semimonthly | the 15th and last day of the month | Norwalk, CT | 12,219 |
| Fannie Mae | Semimonthly | the 15th and last day of the month | Washington, DC | 7,400 |
| Federated Hermes | Semimonthly | the 15th and last day of the month | Pittsburgh, PA | 2,000 |
| Fidelity Investments | Semimonthly | the 15th and last day of the month | Boston, MA | 74,000 |
| Fidelity National Financial | Semimonthly | the 15th and last day of the month | Jacksonville, FL | 24,000 |
| Fiserv | Semimonthly | the 15th and last day of the month | Brookfield, WI | 41,000 |
| FleetCor Technologies | Semimonthly | the 15th and last day of the month | Atlanta, GA | 9,500 |
| Franklin Resources | Semimonthly | the 15th and last day of the month | San Mateo, CA | 9,800 |
| Freddie Mac | Semimonthly | the 15th and last day of the month | McLean, VA | 7,400 |
| Global Payments | Semimonthly | the 15th and last day of the month | Atlanta, GA | 27,000 |
| Goldman Sachs Group | Semimonthly | the 15th and last day of the month | New York, NY | 45,300 |
| Hilltop Holdings | Semimonthly | the 15th and last day of the month | Dallas, TX | 3,800 |
| Houlihan Lokey | Semimonthly | the 15th and last day of the month | Los Angeles, CA | 2,700 |
| Intercontinental Exchange | Semimonthly | the 15th and last day of the month | Atlanta, GA | 9,000 |
| Invesco | Semimonthly | the 15th and last day of the month | Atlanta, GA | 8,546 |
| JPMorgan Chase | Semimonthly | the 15th and last day of the month | New York, NY | 309,926 |
| Jack Henry & Associates | Semimonthly | the 15th and last day of the month | Monett, MO | 7,000 |
| Janus Henderson | Semimonthly | the 15th and last day of the month | London, UK | 2,000 |
| Jefferies Financial Group | Semimonthly | the 15th and last day of the month | New York, NY | 5,550 |
| KKR & Co. | Semimonthly | the 15th and last day of the month | New York, NY | 4,490 |
| LPL Financial | Semimonthly | the 15th and last day of the month | San Diego, CA | 6,800 |
| Lazard | Semimonthly | the 15th and last day of the month | New York, NY | 3,236 |
| MSCI | Semimonthly | the 15th and last day of the month | New York, NY | 5,400 |
| Mastercard | Semimonthly | the 15th and last day of the month | Purchase, NY | 33,400 |
| Moelis & Company | Semimonthly | the 15th and last day of the month | New York, NY | 1,100 |
| Moody's | Semimonthly | the 15th and last day of the month | New York, NY | 14,000 |
| Morgan Stanley | Semimonthly | the 15th and last day of the month | New York, NY | 80,006 |
| Nasdaq | Semimonthly | the 15th and last day of the month | New York, NY | 7,400 |
| Northern Trust | Semimonthly | the 15th and last day of the month | Chicago, IL | 22,200 |
| PJT Partners | Semimonthly | the 15th and last day of the month | New York, NY | 1,100 |
| PNC Financial Services Group | Semimonthly | the 15th and last day of the month | Pittsburgh, PA | 56,000 |
| Prudential Financial | Semimonthly | the 15th and last day of the month | Newark, NJ | 39,940 |
| Raymond James Financial | Semimonthly | the 15th and last day of the month | St. Petersburg, FL | 16,400 |
| Robinhood Markets | Semimonthly | the 15th and last day of the month | Menlo Park, CA | 2,300 |
| S&P Global | Semimonthly | the 15th and last day of the month | New York, NY | 40,000 |
| SoFi Technologies | Semimonthly | the 15th and last day of the month | San Francisco, CA | 4,300 |
| State Street | Semimonthly | the 15th and last day of the month | Boston, MA | 41,945 |
| StoneX | Semimonthly | the 15th and last day of the month | New York, NY | 3,618 |
| StoneX Group | Semimonthly | the 15th and last day of the month | New York, NY | 3,618 |
| StoneX Group Inc. | Semimonthly | the 15th and last day of the month | New York, NY | 3,618 |
| Synchrony Financial | Semimonthly | the 15th and last day of the month | Stamford, CT | 19,000 |
| T. Rowe Price Group | Semimonthly | the 15th and last day of the month | Baltimore, MD | 7,906 |
| TIAA | Semimonthly | the 15th and last day of the month | New York, NY | 17,000 |
| TIAA-CREF | Semimonthly | the 15th and last day of the month | New York, NY | 17,000 |
| Tradeweb Markets | Semimonthly | the 15th and last day of the month | New York, NY | 1,100 |
| TransUnion | Semimonthly | the 15th and last day of the month | Chicago, IL | 12,500 |
| Truist Financial | Semimonthly | the 15th and last day of the month | Charlotte, NC | 53,951 |
| U.S. Bancorp | Semimonthly | the 15th and last day of the month | Minneapolis, MN | 77,000 |
| Verisk Analytics | Semimonthly | the 15th and last day of the month | Jersey City, NJ | 7,200 |
| Visa | Semimonthly | the 15th and last day of the month | San Francisco, CA | 26,500 |
| WEX | Semimonthly | the 15th and last day of the month | Portland, ME | 5,400 |
| Wells Fargo | Semimonthly | the 15th and last day of the month | San Francisco, CA | 226,000 |
| Western Union | Semimonthly | the 15th and last day of the month | Denver, CO | 9,700 |
FAQ
Do most Financial Services companies pay weekly or biweekly?
The dominant pay frequency in the Financial Services sector is Semimonthly. Of the 78 large Financial Services employers catalogued, 78 pay semimonthly — reflecting the structural mix of hourly versus salaried labor.
What day of the week are Financial Services employees paid?
Payday in the sector typically lands on the 15th and last day of the month. Direct deposit is standard at virtually every Fortune 500-scale employer.
How many paychecks per year do Financial Services workers get?
Workers paid on the dominant semimonthly cadence receive 24 paychecks per calendar year.