am i being cheated out of 2 weeks of pay a year when i get paid on the 1st and the 15th?
2006-11-10 07:15:43 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
When you were hired, the amount both parties agreed to was probably a yearly salary. In your case (1st and 15th) you would divide that yearly salary by 24 and that would be your check amount. If you were paid every two weeks, the yearly amount would be divided by 26. You do get 2 more checks with bi-weekly, but the total yearly pay amount will work out to be the same as bi-monthly. Same would be the case if you were paid once a month (you would divide the yearly amount by 12). Hope that make sense.
2006-11-10 07:23:38 · answer #1 · answered by Anonymous · 1⤊ 1⤋
No. If you are hourly, you are paid for all the hours you worked in that time period. If you are monthly, your annual salary has simply been divided into 24 payments.
Either way, you still receive the same amount of money every year. You just get it in different lumps.
2006-11-10 07:19:11 · answer #2 · answered by Phoenix, Wise Guru 7 · 1⤊ 1⤋
no.
I know your counting 52 weeks/2 =26,
and 2 times a month * 12 months =24
but, that "extra" two weeks is evenly divided in your other paychecks
2006-11-10 07:19:45 · answer #3 · answered by papeche 5 · 0⤊ 0⤋
no because each of your two paychecks per month will be slightly larger than if you were paid every two weeks.
12,000 per year paid twice a month= 24 pay periods per year = 1,000 per month, 500 each pay check
12,000 per year = paid every two weeks =26 pay periods per year = 461 each pay check
2006-11-10 07:19:20 · answer #4 · answered by Emily B 4 · 1⤊ 0⤋
No. Read your pay stub closely.
2006-11-13 01:13:03 · answer #5 · answered by Anonymous · 0⤊ 0⤋