Semimonthly payroll schedules

How Semimonthly payroll works

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.

For employees, the practical implication is straightforward: 24 paychecks per year, with the gross divided across 24 equal periods. The standard payday lands on the 15th and last day of the month. Use the pay schedule calculator to model the per-check amount against any annual salary.

Sectors most likely to pay semimonthly

• Technology — 114 catalogued employers
• Financial Services — 78 catalogued employers
• Insurance — 38 catalogued employers
• Utilities — 37 catalogued employers
• Consulting & IT Services — 20 catalogued employers
• Airlines — 3 catalogued employers

All 290 employers paying semimonthly

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