SemiMonthly Pay Calculator
With this semimonthly pay calculator, you can know what is the semimonthly pay equivalent to any other period. Input the wage you know (hourly, daily, weekly, monthly, or yearly), and the tool will provide the wage corresponding to the semimonthly pay period. The calculator assumes a working schedule of 40 hours and five days a week, but you can change it.
Keep reading this article to know what semimonthly pay means and how to calculate it.
What does semimonthly pay mean?
Semimonthly pay is a salary or wage paid twice a month, usually on the 15th and last day but also on the first and 15th day. If one payment date falls on a weekend or holiday, the payment occurs the previous or following business day. Usually, the businesses choose the previous day (Friday or, failing that, Thursday).
As a month contains two of these payments, there are 24 semimonthly payments per year. Semimonthly pay usually is confused with biweekly pay, which occurs every two weeks and, therefore, 26 times yearly (you can obtain it with the biweekly pay calculator)
The formula for semimonthly pay calculation
To better understand what semimonthly pay means, calculating it is essential. Depending on the available information, there'll be different ways to calculate the semimonthly pay:

Using the monthly wage: As there are two semimonthly payments during the month, you can obtain their value by dividing the overall monthly salary by 2:
Semimonthly wage = (Monthly wage)/2

Using yearly wage: There are 24 semimonthly pay periods during a year. Therefore, we can calculate the semimonthly pay by dividing the annual salary by 24:
Semimonthly wage = (Yearly wage)/24

Using weekly wage: As a year has 52 weeks, we can replace the yearly wage with 52 times the weekly pay and calculate the semimonthly salary as follows:
Semimonthly wage = (52 × Weekly wage)/24

Using daily wage: Similarly, we can replace the weekly wage with the daily wage times the number of working days per week:
Semimonthly wage = (52 × Daily wage × Days per week)/24

Using the hourly wage: We can also express the weekly wage as the hours per week times the hourly wage:
Semimonthly wage = (52 × Hourly wage × Hours per week)/24
🙋 The calculator assumes five days and 40 hours per week (the most common schedule), but you can change this parameter.
Other tools beyond this semimonthly calculator
FAQ
How many semimonthly pay periods are in a year?
There are 24 semimonthly pay periods in a year, as each of the twelve months contains two semimonthly payments. This is slightly different from biweekly payments, which occur 26 times yearly.
What is the semimonthly pay schedule for 2023?
If we use the 15th and last days of the month, the 2023 semimonthly pay schedule is as follows:
Pay number  Pay date 

1  January 14 
2  January 31 
3  February 15 
4  February 28 
5  March 15 
6  March 31 
7  April 14 
8  April 28 
9  May 15 
10  May 31 
11  June 15 
12  June 30 
13  July 14 
14  July 31 
15  August 15 
16  August 31 
17  September 15 
18  September 29 
19  October 13 
20  October 31 
21  November 15 
22  November 30 
23  December 15 
24  December 29 
The previous schedule chose Friday when the payment was originally on the weekend. If one of the days corresponds to a holiday celebrated in your target region, you can anticipate or delay the payment date to the previous or following weekday.