semi monthly meaning
to the fact that it happens twice a month. In payroll terminology, it is a payment period where the staff are paid twice a month, usually on the 1 st and 15 th or the 15 th and 30 th. This is in contrast to the biweekly, which occurs after every two weeks. Semi-monthly compensation means that this is paid 24 times a year rather than 26 times. It is another type that is usually used with salaried employees because it is consistent with monthly accounting periods, deductions, and budgeting. The reason why employers prefer semi-monthly schedules is because they are easy to budget and they also make the work of the administration less work than handling weekly or bi weekly payrolls.
