What Is a Pay Period?
A pay period is the recurring span of time for which an employee's pay is calculated. Common schedules are weekly (52 pay periods a year), biweekly (26), semimonthly (24), and monthly (12). The schedule affects the size of each paycheck but not total annual pay.
Biweekly vs. Semimonthly
Biweekly means every two weeks, which gives 26 paychecks a year and occasionally three paychecks in one month. Semimonthly means twice a month, usually on fixed dates, which gives 24 paychecks.
Per-Paycheck Amount
Gross pay per period = annual salary ÷ number of pay periods. A 60,000 salary is about 2,307.69 biweekly or 2,500 semimonthly.
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Last updated: September 27, 2026. This definition is for general educational purposes only. It is not financial, investment, tax, legal, or medical advice, and it does not recommend any product or course of action. For decisions about your own situation, consult a qualified professional.