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.
Bi-weekly pay schedules can be complicated if there are 27 pay periods in a year (as opposed to the normal 26). This occurs depending on which day the year starts with, and how the days of the week fall. Semi-monthly pay schedules can be tricky for hourly employees, because there are 86.67 hours in a typical pay period. This makes overtime pay complicated, and could increase questions from your employees.