SuperNet9Go Ninja,Go Ninja Go..Premium join:20021008 Schaumburg, IL kudos:5 1 edit  BiWeekly pay check, how much a year? If someone gets paid $1,923.00 Biweekly how much is that a year? A friend of mine told me $50k a year but I can't seem to figure it out.. I figure that is 24 pay checks so $1,923.00 * 24 = $46454.00 Am I wrong or is he?  Comcast HSI 16/2 / MagicJack  VoIP / at&t iPhone 3G / »www.ChicagoMaximaClub.net  Nissan Maxima Club 

MrFixitCTpay it forwardPremium,VIP,ExMod 200106 join:20001201 Charleston, SC  there are 26 2 week periods in a year.. $49998.00 

SuperNet9Go Ninja,Go Ninja Go..Premium join:20021008 Schaumburg, IL kudos:5  said by MrFixitCT:there are 26 2 week periods in a year.. $49998.00 Crap your right, thanks!  Comcast HSI 16/2 / MagicJack  VoIP / at&t iPhone 3G / »www.ChicagoMaximaClub.net  Nissan Maxima Club 

MrFixitCTpay it forwardPremium,VIP,ExMod 200106 join:20001201 Charleston, SC  yw 

CylonRedPremium,MVM join:20000706 Bloom County  reply to SuperNet9
And I assume that is gross pay  not net pay. 

SuperNet9Go Ninja,Go Ninja Go..Premium join:20021008 Schaumburg, IL kudos:5  said by CylonRed:And I assume that is gross pay  not net pay. Yea  Comcast HSI 16/2 / MagicJack  VoIP / at&t iPhone 3G / »www.ChicagoMaximaClub.net  Nissan Maxima Club 

Vtbluesif you can't get out of it, get in to itPremium join:20060529 Brookfield, VT  reply to SuperNet9
There are rare years when biweekly checks can bring 27 checks in a years, like if payday falls on Jan 2nd of a leap year. This happen to Vermont state employees a few years ago, really messed up the budget as they had only allowed for 26 paydays.  I'm folding and crunching to try to help prevent stories like »Update on my son who has cancer


 reply to MrFixitCT
said by MrFixitCT:there are 26 2 week periods in a year.. $49998.00 But that rounds down to $0.00 right? 


MrFixitCTpay it forwardPremium,VIP,ExMod 200106 join:20001201 Charleston, SC Reviews: ·Comcast Formerl.. ·Home Telephone ·AT&T DSL Service
 said by Banker :said by MrFixitCT:there are 26 2 week periods in a year.. $49998.00 But that rounds down to $0.00 right? huh? 

Greg_ZPremium join:20010808 Springfield, IL  reply to SuperNet9
BiWeekly Pay Periods are considered 13 month Payrolls, which means that 2 months out of the year, you have 3 paychecks, or 26 paychecks total. Still is the same whether you are paid 52 checks, 24 checks, or 1 check a year for the wages worked. 

AVDRespice, Adspice, ProspicePremium join:20030206 Onion, NJ kudos:1  reply to Vtblues
said by Vtblues:There are rare years when biweekly checks can bring 27 checks in a years, like if payday falls on Jan 2nd of a leap year. This happen to Vermont state employees a few years ago, really messed up the budget as they had only allowed for 26 paydays. But that means the year before or the year after there is one less pay period. 

Greg_ZPremium join:20010808 Springfield, IL  No, means all years have the same Pay accounting period, it is just that if the company started their pay period later then normal, there can be a roll over in accounting purposes through the 1st week of the next year.
Your last check for a BiWeekly pay period always states the pay accounting period when you get to year end, so that you know that will be the last check showing on the closing of Tax Year for employees W2's. Company Fiscal year may be different then pay. 

PhilRojo SolPremium join:20010611 Downers Grove, IL kudos:2 1 edit  reply to SuperNet9
Assuming fulltime: $1923/80 = 24.0375/hour. 24.0375 * 2088 = $50,190.30/year. 2088 being the number of work hours in 2008. 

ChiTangPremium,MVM join:20020823 Alhambra, CA kudos:1  In a year, 52 weeks and 1 day or 52 weeks and 2 days (leap year). The extra day will be paid in the next years. So per yearwise it is still 26 paid checks totalling at $49980.00. Roughly every 1213 years, there will be a 27 pay check year and it will be $51921.00.  I used to be indecisive, now I am not sure. 

1 edit  reply to SuperNet9
Weekly = 52 pay periods in a year Biweekly or every two weeks = 26 pay periods in a year (no static payday, just every 14 days) Semimonthly or twice a month = 24 pay periods in a year (a static payday, ie. the 5th and the 20th every month) Monthly = 12 pay periods in a year Bimonthly or every two months = 6 pay periods Semiannually or twice a year = 2 pay periods Yearly = 1 pay period in a year
As to why someone would want to get paid once a year, I don't know, but it better be in advance because I would not want to work all year and get paid on the 31st of December. But this is how we were taught in payroll accounting. There are various equations to figure what someone being paid one way is actually being paid in another way, ie. to convert biweekly to monthly, or annually, etc. Hope this helps. 

Greg_ZPremium join:20010808 Springfield, IL  Already covered, and thanks for bringing this back to top after it got buried. 

Doctor FourMy other vehicle is a TARDISPremium join:20000905 Dallas, TX  reply to SuperNet9
Ours where I work is semimonthly, on the 7th and 22nd. So that means today is a payday for me. 

ChiTangPremium,MVM join:20020823 Alhambra, CA kudos:1  said by Doctor Four:Ours where I work is semimonthly, on the 7th and 22nd. So that means today is a payday for me. That means the CO is holding your money to collect interest for 7 days. I'll ask for a raise.  I used to be indecisive, now I am not sure. 

RobIn Deo speramus.Premium join:20010825 Kendall, FL kudos:2 Reviews: ·Comcast
 reply to MrFixitCT
said by MrFixitCT:said by Banker :said by MrFixitCT:there are 26 2 week periods in a year.. $49998.00 But that rounds down to $0.00 right? huh? He made a funny. 

ChiTangPremium,MVM join:20020823 Alhambra, CA kudos:1  The IRS will round it to $100,000.00. 

whizkid3Premium,MVM join:20020221 Queens, NY kudos:9  reply to Greg_Z
said by Greg_Z:BiWeekly Pay Periods are considered 13 month Payrolls, which means that 2 months out of the year, you have 3 paychecks, or 26 paychecks total. What is nice about biweekly, is that you tend to budget for two paychecks a month. Then in those two months a year, three paychecks come along. Its like getting extra money. 

Greg_ZPremium join:20010808 Springfield, IL  Or in my line of work, you get to explain that even though the NCP got paid 3 times in one month, why you still only get the amount ordered. Talk about an argument that cannot be won. 

 reply to SuperNet9
You are both wrong. It's 46,152.00 per year. You take 1,923 times 2, then take the doubled monthly amount times 12 and you'll get 46,152.00 per year. 1923.00x2= 7692.00 per month, then take 7692 x 12 = 46,152.00 per year. I hope that this helps you. Sandy 

wilbilt Pronto ResurrectedPremium join:20040111 Oroville, CA  said by sandylee54:You are both wrong. It's 46,152.00 per year. You take 1,923 times 2, then take the doubled monthly amount times 12 and you'll get 46,152.00 per year. 1923.00x2= 7692.00 per month, then take 7692 x 12 = 46,152.00 per year. I hope that this helps you. Sandy ...those figures don't look quite right...  We were taking a vote when the ground came up and hit us. 

freezeI'm not even GreekPremium join:20010513 Ohio  reply to sandylee54
said by sandylee54:You are both wrong. It's 46,152.00 per year. You take 1,923 times 2, then take the doubled monthly amount times 12 and you'll get 46,152.00 per year. 1923.00x2= 7692.00 per month, then take 7692 x 12 = 46,152.00 per year. I hope that this helps you. Sandy Your calculations are true assuming each month has only 4 weeks 1 year = 52.177457 weeks 

CabalPremium join:20070121 Reviews: ·Suddenlink
 reply to sandylee54
said by sandylee54:You are both wrong. It's 46,152.00 per year. You take 1,923 times 2, then take the doubled monthly amount times 12 and you'll get 46,152.00 per year. 1923.00x2= 7692.00 per month, then take 7692 x 12 = 46,152.00 per year. I hope that this helps you. Sandy In what country do you live where there are only 48 weeks in a year?  Interested in open source engine management for your Subaru? 

ChiTangPremium,MVM join:20020823 Alhambra, CA kudos:1 1 edit
1 recommendation  reply to sandylee54
said by sandylee54:You are both wrong. It's 46,152.00 per year. You take 1,923 times 2, then take the doubled monthly amount times 12 and you'll get 46,152.00 per year. 1923.00x2= 7692.00 per month, then take 7692 x 12 = 46,152.00 per year. I hope that this helps you. Sandy The concept/method is wrong, the calculation is also wrong. My daughter in third grade can do better than that. Not to mention a biweekly paid X 2 does not equal to a monthly paid. I have never seen sooo many mistakes in one simple calulation. I guess whoever implement spell check in this site is not that good. Another strong evident that weman are bad in maths.  I used to be indecisive, now I am not sure. 

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 reply to SuperNet9
Being paid biweekly is good, as long as you're not paid on the 1st and 15th of every month.
Many people who are paid on the 1st and 15th of every month do not realize that when the end of the year rolls around, they ended up working a total of 2 weeks for free. 

MrFixitCTpay it forwardPremium,VIP,ExMod 200106 join:20001201 Charleston, SC  Usually, in this case, the annual salary is divided up in 24 increments.. They don't work for free.. 

AVDRespice, Adspice, ProspicePremium join:20030206 Onion, NJ kudos:1  reply to Retired6
said by Retired6:Being paid biweekly is good, as long as you're not paid on the 1st and 15th of every month. Many people who are paid on the 1st and 15th of every month do not realize that when the end of the year rolls around, they ended up working a total of 2 weeks for free. How??? 
