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The semimonthly formula
per check = annual salary ÷ 24 per month = annual ÷ 12, every month, no exceptions
That last line is semimonthly's superpower for budgeting: income and monthly bills line up perfectly, forever. What you give up is the biweekly earner's twice-a-year bonus check — semimonthly smooths that windfall into every check instead.
A worked example
$60,000 on the 15th-and-last schedule: $2,500 on the 15th, $2,500 at month end, $5,000 every single month. The same salary biweekly pays $2,307.69 per check — smaller checks, but 26 of them, including two months a year with three. Annual totals are identical to the penny.
Switching employers, switching rhythms
Moving from biweekly to semimonthly (or back) is where budgets break: autopay dates that worked for years suddenly land before the paycheck does. The fix is one-time — shift due dates to just after your new pay dates — and our pay frequency converter translates any amount between all the schedules.
Frequently asked questions
What does semimonthly pay mean?
Paid twice a calendar month on fixed dates — commonly the 15th and the last day, or the 1st and 15th. That's 24 paychecks a year, each equal to annual salary ÷ 24.
What's the difference between semimonthly and biweekly?
Biweekly is every 14 days (26 checks, moving weekday, two 3-paycheck months). Semimonthly is fixed dates (24 checks, ~8.3% larger each, never a third check). Same annual total, different rhythm.
How much is $60,000 semimonthly?
$60,000 ÷ 24 = $2,500 per check, before taxes. The same salary biweekly is $2,307.69 per check.
Why do employers use semimonthly pay?
It aligns cleanly with monthly accounting and benefits deductions (exactly two per month), which payroll departments love. Hourly overtime tracking is messier on semimonthly, which is why hourly-heavy workplaces usually pick biweekly.