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This question is about employer.
Bi-monthly vs. bi-weekly
Both bi-monthly and bi-weekly refer to different pay schedules employers have concerning their employees, the difference between bi-monthly and bi-weekly is that bi-monthly refers to a pay schedule that sees employees getting paid twice per month, while a bi-weekly pay schedule sees employees being paid every other week on the same day.
Bi-monthly pay schedules can also be referred to as semi-monthly pay schedules. When employees are on a bi-monthly pay schedule they have 24 pay periods per year. Bi-monthly pay schedules see employees getting paid on specific dates, meaning that the day of the week they get paid on fluctuates.
Bi-weekly pay schedules are ones where employees are paid every other week and usually on the same day of the week. The most common day of the week that companies using a bi-weekly pay schedule pay their employees on is Friday, however, this can vary depending on the specific organization. Bi-weekly pay schedules provide employees with 26 pay periods per year.
Key Takeaways:
| Bi-monthly | |
|---|---|
| Bi-monthly refers to a pay schedule that sees employees getting paid twice per month. | A bi-weekly pay schedule sees employees being paid every other week on the same day. |
| Bi-monthly pay schedules can also be referred to as semi-monthly pay schedules. | Bi-weekly pay schedules are a more common form of payroll than bi-monthly pay schedules. |
| When employees are on a bi-monthly pay schedule they have 24 pay periods per year. | Bi-weekly pay schedules provide employees with 26 pay periods per year. |
| Bi-monthly pay schedules see employees getting paid on specific dates, meaning that the day of the week they get paid fluctuates. | The most common day of the week that companies using a bi-weekly pay schedule pay their employees on is Friday, however, this can vary depending on the specific organization. |
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