Getting paid semi-monthly means you receive your salary or wages twice a month, typically on the 15th and the last day (or last business day) of the month. Here's a breakdown:
Frequency: You are paid 24 times per year (12 months x 2 payments). This frequency differs from getting paid weekly, bi-weekly or monthly. See details about weekly, bi-weekly and monthly.
Pay Dates: Unlike bi-weekly pay, which occurs every two weeks and may shift during the year, semi-monthly pay dates are usually fixed. Common paydays are the 15th and the last day of each month. If those dates fall on a weekend or holiday, you typically receive payment on the preceding business day.
Consistency: Semi-monthly pay provides consistent pay periods within each month, making it easier to budget.
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