Biweekly payroll timesheet

2023 Payroll Solutions: Pay Periods for Bi-Weekly and Semi-Monthly Workers

Tapcheck Team   May 18, 2023

Pay periods can be weekly, bi-weekly, semi-monthly, or monthly. The specific pay cycle selected by the employer will depend on the payroll provider being used, and the payroll schedule available and chosen by the employer. Understanding pay periods is important for effective financial planning because it helps individuals manage their income and expenses more efficiently. By knowing when and how much they will be paid, individuals can create budgets, pay bills on time, save for future goals, and make informed financial decisions. It allows for better organization of finances and helps avoid financial hardships by ensuring that there is enough money to cover expenses throughout the pay period. 

Difference Between Semi-monthly and Bi-weekly Pay 

While we’ve talked about it in a previous article, we’ll touch base here again on the key differences. Semi-monthly pay refers to a pay schedule where employees are paid twice a month, typically on specific dates such as the 15th and the last day of the month. Bi-weekly pay, on the other hand, means employees are paid every two weeks, usually on the same day of the week, such as every other Friday. 

The benefit of semi-monthly pay is that it provides a predictable payment schedule, making it easier to plan and budget for monthly expenses. Employees can expect consistent paychecks on set dates, which can help with financial stability. However, one potential disadvantage is that the number of workdays in each pay period may vary, resulting in slightly different amounts received in each paycheck. Finally, another thing to keep in mind is if the 1st or the 15th falls on a weekend or holiday, paychecks can be delayed to the next business day.  

Bi-weekly pay, on the other hand, offers the advantage of more frequent paychecks. This can be beneficial for individuals who need a regular influx of funds and prefer a shorter pay cycle. It can also align well with certain monthly expenses, such as rent or mortgage payments. However, a potential drawback is that there are 26 pay periods in a year, meaning each paycheck may be slightly smaller compared to semi-monthly pay, which has only 24 pay periods. 

Semi-monthly vs Bi-Weekly Pay Calendars for 2023. 

To help you with knowing which date corresponds to your pay cycle, here’s a quick table showing the pay dates when paid Semi-monthly: 

2023 Pay Period  Pay Date 1  Pay Date 2 
January  January 15  January 31 
February  February 15  February 28 
March  March 15  March 31 
April  April 14  April 30 
May  May 15  May 31 
June  June 15  June 30 
July  July 14  July 31 
August  August 15  August 31 
September  September 15  September 30  
October  October 16  October 31 
November  November 15  November 30 
December  December 15  December 31 

* These dates are meant to be a directional guide. Pay dates may vary by employer, make sure to check with your provider for an accurate calendar.
If you’re paid bi-weekly, some months you will see 3 pay checks, while the others will only have two. Here are the specific dates for bi-weekly pay if the pay calendar starts on a Sunday and ends on a Saturday, with a pay date on Fridays: 

Pay Periods  2023 Pay Month  2023 Pay Date 
12/18/22 to 12/31/22  January  January 6 
01/01/22 to 01/14/23  January  January 20 
01/15/23 to 01/28/23  February  February 3 
01/29/23 to 02/11/23  February  February 17 
02/12/23 to 02/25/23  March  March 3 
02/26/23 to 03/11/23  March  March 17 
03/12/23 to 03/25/23  March  March 31 
03/26/23 to 04/08/23  April  April 14 
04/09/23 to 04/22/23  April  April 28 
04/23/23 to 05/06/23  May  May 12 
05/07/23 to 05/20/23  May  May 26 
05/21/23 to 06/03/23  June  June 9 
06/04/23 to 06/17/23  June  June 23 
06/18/23 to 07/01/23  July  July 7 
07/02/23 to 07/15/23  July  July 21 
07/16/23 to 07/29/23  August  August 4 
07/30/23 to 08/12/23  August  August 18 
08/13/23 to 08/26/23  September  September 1 
08/27/23 to 09/09/23  September  September 15 
09/10/23 to 09/23/23  September  September 29 
09/24/23 to 10/07/23  October  October 13 
10/08/23 to 10/21/23  October  October 27 
10/22/23 to 11/04/23  November  November 10 
11/05/23 to 11/18/23  November  November 24 
11/19/23 to 12/02/23  December  December 8 
12/03/23 to 12/16/23  December  December 22 

These dates are meant to be a directional guide. Pay dates may vary by employer, make sure to check with your provider for an accurate calendar.
In Conclusion: 

Employers choose between bi-weekly and semi-monthly pay periods based on various factors, including administrative convenience and employee preferences. It’s important to know what your employer’s pay schedule is so that you can budget efficiently. We have a lot of resources to help you improve your financial wellness, head over to our blog for more! 




Tapcheck Team

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