whizkid3Premium,MVM join:20020221 Queens, NY kudos:9  reply to Greg_Z
Re: BiWeekly pay check, how much a year? 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. 

Reviews: ·Time Warner Cable
 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 Retired
said by Retired: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??? 

61999674Gotta Do What Ya Gotta DoPremium join:20000902 Here kudos:1  reply to SuperNet9
I sure hope a lot that have posted in this thread don't work in payroll or any financial field.  It is better to have it and not need it, than to need it and not have it. 

ChiTangPremium,MVM join:20020823 Alhambra, CA kudos:1  said by 61999674:I sure hope a lot that have posted in this thread don't work in payroll or any financial field. Can you elaborate on that? Quote what they said and point out what they said wrong, perhaps.  I used to be indecisive, now I am not sure. 

61999674Gotta Do What Ya Gotta DoPremium join:20000902 Here kudos:1 1 edit  Well the one that jumps out "work two weeks for free" and the one you pointed out. 

J E F FWhatta Ya Think About Dat?Premium join:20040401 Kitchener, ON kudos:1 Reviews: ·Rogers Portable ..
 reply to SuperNet9
I am going to assume that a lot of you(s) get your pay on a Thursday (true around here anyway) so next year I get 53 paychecks, and the biweekly people will get 27
A extra pay occurs once every 67 years.  "I think there is a world market for maybe five computers." Thomas Watson, chairman of IBM, 1943 

wilbilt Pronto ResurrectedPremium join:20040111 Oroville, CA  said by J E F F:I am going to assume that a lot of you(s) get your pay on a Thursday (true around here anyway) so next year I get 53 paychecks, and the biweekly people will get 27 A extra pay occurs once every 67 years. I get paid once a month. Will I see extra pay next year?  We were taking a vote when the ground came up and hit us. 

J E F FWhatta Ya Think About Dat?Premium join:20040401 Kitchener, ON kudos:1 Reviews: ·Rogers Portable ..
 I have a job that I get paid once a month..sadly, it's still 12 times a year.
I should have added, for those getting paid every two weeks, the 27 pays come every 13 years or so. If you are getting paid every 4 weeks, you'll get a 14th pay every 25 years or so.  "I think there is a world market for maybe five computers." Thomas Watson, chairman of IBM, 1943 

LangningPremium join:20030428 Marlborough, MA  reply to SuperNet9
I believe for the (large) corporations, each exempted employee is given a salary figure. And HR estimates a set number of workable hours each year all the employees are expected to put in. In my company, the number is 1950 (that is 7.5 hours per day, 260 days per year). The workable hours include paid sick days and company holidays and/or jury duty days, etc.
Take the employee's salary and divide it by the total workable hours, you derive the hour rate (for payroll purpose and I get pay the 7.5 hrs each day regardless how many hours I actually put in). So someone who is making $19,500 a year would have a hourly wage of $10. So in this example, the weekly paycheck is $10 x 7.5 x 5 (days) or $375 per week. The biweekly paycheck would be $10 x 7.5 x 10 or $750.
The yearly income may vary due to pay period and closing date and rounding of individual paycheck. The salary remains the same. And annual salary does not equate to annual income. 

ptrowskiGot Helix?Premium join:20050314 Putnam, CT kudos:4 1 edit  reply to SuperNet9
What did your offer letter say? Please tell me you did not take your new job without knowing what/how you will be paid. 

 reply to Retired
said by Retired:Being paid biweekly is good, as long as you're not paid on the 1st and 15th of every month. Being paid on the 1st & 15th of the month is semimonthly. That's entirely different from biweekly. 

 reply to Langning
I believe my employer does the following:
annual salary / 2080 = hourly rate
hourly rate * hours worked in pay period = gross paycheck amount 

 reply to wilbilt
said by wilbilt:I get paid once a month. Will I see extra pay next year? Sorry  no.
Since you actually are motivated to be a wage earner, you will be required to redistribute part of your income to someone less motivated. Cuz the man said so.  3500/512 5.7 GHz Motorola Canopy Wireless; FoxValley.net 'It looks just like a Telefunken U47 !' 

 said by jay_rm:you will be required to redistribute part of your income to someone less motivated. That would be the managers at his company. Where do you think their big bonuses come from? 

skwasha join:20090101 Los Angeles, CA  reply to SuperNet9
Here's a related question...
If yearly salary = $X, and year end gross pay (paid biweekly) shows $X$0.06
a) where the heck is the rounding error coming in? I tried salary/2080 using different rounding variations but don't get there. So it must be somewhere else? b) are there any standard rules/regs for this sort of thing? (yeah it's only $0.06, but it's *my* $0.06...) 

ChiTangPremium,MVM join:20020823 Alhambra, CA kudos:1 1 edit  reply to SuperNet9
Yearly salary $X, biweekly paid will be P = $X/26.
If P ends in approximately xxxx.xx23, it will be rounded to xxxx.xx. After 26 paid checks, it will be short $0.06.
Added: you may sue the employer for cheating, or if the extra 6 cents bring you to the next tax bracket, you should be happen about it.
 I used to be indecisive, now I am not sure. 

AVDRespice, Adspice, ProspicePremium join:20030206 Onion, NJ kudos:1  You would only pay the next bracket rate on the six cents. But if the .06 puts you over the maximum earnings for the stimulus, thenn you should be happy. 

pog4Premium join:20040603 Kihei, HI  reply to Bobcat79
said by Bobcat79:I believe my employer does the following: annual salary / 2080 = hourly rate hourly rate * hours worked in pay period = gross paycheck amount 2080 hours per year for full time (40 hours/week) is accepted practice for calculations... but it doesn't really matter if you are paid biweekly because taxes are done on a cash basis.
IOW, suppose you got a paycheck last Friday... Jan 2nd. That's the first check of tax year 2009. The fact that your earnings are based on hours you worked in 2008 is not important. Most of the time you'll get 52 weeks of pay on your W2... sometimes you'll get 27.
The calculation is important for people paid semimonthly on a salary nonexempt (from overtime) basis... should be a rare situation, I think. It also comes up for TDI claims.  My Site 

pog4Premium join:20040603 Kihei, HI  reply to ChiTang
said by ChiTang:If P ends in approximately xxxx.xx23, it will be rounded to xxxx.xx. After 26 paid checks, it will be short $0.06. I believe decent accounting packages juggle the rounding so that errors don't accumulate.
Eg, if you make $50k in annual salary, then your biweekly gross will be $1923.08 most of the time and $1923.07 a few times to offset the error.  My Site 
