annual salary is $20,000 per year, does that mean that you rec'd in gross pay will be $20,000 every year?

Question

Or does it go by how the pays are rec'd in a year. Rec'd pays every 2 weeks, but the beginning of the year, pay the 15th, and 30 or 31th,)Payments rec'd cover this time period)

Answer 1

Not sure why this is an issue. If your contract is for $20k/year and you get paid bi-weekly, you will get 26 checks @ $769.23; bi-monthly works out to 24 checks@ $833.33.
Businesses commonly average payments out based on one of these plans or a monthly one.

Answer 2

If you know how much you make every two weeks multiply that figure by 26. I f your salary is known as $20,000 per year then divide by 26 to find the pay for a 2 week period.

Answer 3

If you are getting paid every 2 weeks then you should get exactly $20,000 given that there are 52 weeks a year, an even number. Had it been an odd number, then some years would have been larger or smaller by one paycheck.

Of course if you are a terrific employee, then hopefully you'll get your first raise long before you hit your one year anniversary and then you'll be making more.

Answer 4

You are probably paid by the week, not by the month, so this will not affect you. The only time it will change is if you are paid every 2 weeks, there will be 2 months a year that you will get 3 paychecks instead of 2.

Answer 5

Don't forget gross is not net. Taxes, pension, dues, and lots of deductibles eat into that amount.