Which is my way of saying: a college degree doesnât guarantee success, and not getting a college degree doesnât guarantee failure. I just read a really nice article here on Forbes, Ten Smart Things I Learned From People Who Never Went to College.
These employees are usually put on a 40-hour workweek. To figure hours for a semi-monthly salaried employee, multiply 40 hours by 52 weeks, which comes to 2,080 hours. Then, divide 2,080 by 24 annual semi-monthly pay periods to arrive at 86.67 hours for the pay period. To figure salary for the pay period, divide annual salary by 24 semi-monthly pay periods.
Here is a breakdown of the number of hours per pay period: Weekly (Paid 52 times a year) is 2080 hrs / 52 times = 40 hours per pay period. Bi-Weekly (Paid 26 times a year) is 2080 hrs / 26 times = 80 hours per pay period. Semi-Monthly (Paid 24 times a year) is 2080 hrs/ 24 times = 86.67 hours per pay period. Monthly (Paid 12 times a year) is 2080 hrs / 12 times = 173.33 hours per pay period. In the future when an employee asks you how the number of hours are determined especially for salary employees, you may use this calculation as an explanation.