A bi-weekly pay schedule is a payroll system in which employees are paid every two weeks, or 26 times per year. This is in contrast to a monthly pay schedule, in which employees are paid once per month, or 12 times per year. Bi-weekly pay is a common pay schedule in many countries, including the United States, Canada, and the United Kingdom.
There are several advantages to a bi-weekly pay schedule. First, it can help employees budget their finances more easily. When employees are paid every two weeks, they know exactly when they will receive their next paycheck and can plan their spending accordingly. Second, bi-weekly pay can help employees avoid late fees and other penalties. When employees are paid monthly, they may have to wait several weeks to receive their paycheck, which can make it difficult to pay bills on time. Finally, bi-weekly pay can help employers reduce their administrative costs. When employees are paid less frequently, employers have to spend less time and money on payroll processing.
