![EPSFCU Serving School District 231, District 124, and A.E.R.O. Special Education Cooperative](https://www.epsfcu.org/wp-content/uploads/2018/09/epsfculogotwotonegreen.jpg "\\"Evergreen")
The key differences between bi-weekly and semi-monthly paychecks is the number of paychecks you receive in a year. To help clarify the differences between these two common payroll schedules, here is a breakdown of how they compare:
SEMI-MONTHLY PAYCHECK (District 231: Evergreen Park Community High School)
*24 paychecks per year.
*Individual paychecks are slightly larger because your annual salary is divided by 24.
*Employees are paid on specific calendar dates (i.e., the 15th and 30th). This means your payday falls on different days of the week each month.
BI-WEEKLY PAYCHECK (District 124 and AERO)
*26 paychecks per year
*Because of this, two months out of the year will feature 3 paychecks instead of 2.
*Employees are paid on the exact same day of the week (i.e. every other Friday). Paydays are consistent, but the calendar dates change every pay period.
SUMMARY
If you are a salaried employee, whether you are paid semi-monthly or bi-weekly your annual pay is not affected. You receive the same amount every year regardless of the pay schedule. What differs is the amount in each paycheck and how often you receive that check.
For example, if you earn $50,000 per year and are on a semi-monthly pay schedule, each paycheck is $2,083.33 gross (that is, before any payroll deductions, such as income tax or health benefits are taken out). That amount is calculated by dividing $50,000 by 24 since there are 2 pay checks each month.
On a bi-weekly pay schedule, your $50,000 annual pay is split into 26 pay checks. Therefore, each paycheck totals $1,923.08 every other week before deductions. It may seem like you are getting paid less, but you receive two additional paychecks each year.
