I'd post this in HR forum but I know it'll get more traffic here and Im afraid may cause a bit of a hubub... looking forward to that actually.


So, if you get paid twice a month, 15th and last day or first for that matter; how does your company handle leap day for salaried employees. Do they get a free day of work out of you?!

Get paid once every 14 days here so it's a non-issue.

as do I currently, however - i believe there are a number of employers that pay their employees twice per month

Paid 15th and last day, don't see how this changes anything

you get paid X amount every 15th and 30th correct?

So if you get paid 100 bucks every 15th and 100 bucks on the last day of every month, that is
200 multiplied by 12 to get your salary= 2400


you are working an extra day every 4 years that you are not getting compensated for, right?

If you are salary, no matter if there are 28 days, 29, 30, or 31 days in a month, you get paid the same amount, so I'd say it all evens out.

I see where you're going with this but, on 31 day months you're getting paid the same for more days work.

Days 1-15 geting paid $100 for 15 days.
Days 16-31 getting paid $100 for 16 days.

I think this is all taken into account when determining the annual salary and it's probably a non-issue.

Well if you get paid on the last day of the month, then you work an extra day every jan, march, may, july, august, october and december. By that logic, you're actually still getting an extra day's pay for february--just not the two days you would normally get.

But when you sign up for salary, that's kind of a given.

Back when my FI paid employees twice monthly, it was on the 5th and the 20th. That's twice a month, regardless of how many days are in the month, i.e. February has 28 days, April has 30 days, May has 31 days. That's 24 paychecks per year, so salary divided by 24 = paycheck.

If we had been paid on a schedule of the 15th and the last day of the month, then it would have been the 15th and 28th in February (or 15th and 29th in a leap year February every 4 years), on the 15th and 30th in April, and the 15th and 31st in May.

Now, we are paid every two weeks. So salary divided by 26 = paycheck.

I'm not sure I understand the question. Your annual salary is your annual salary, regardless of whether there are 366 days or 365 days in the year.

Good point Tex.

In a "normal" February you're getting

$100 Feb 1-15 for 15 days work and
$100 Feb 16-28 for 13 days work.

I guess I'm assuming that a salary would typically be based on a specific number of work days per year. And that number is what it is typically 3/4 of the time. Once every four years you you would work an additional day.

Dunno, just seems interesting to me

Which I think is the snafu.

I see salary as being based on a specific number of "pay periods" per year. You're salary is $20,000.

That number is not divided by 365 (366) to get a daily rate. It's divided by 12 (I've rarely seen this) 24 or 26 to get a "pay period" rate.

I'm just happy I get a paycheck at all.

Amen, mani!

So, it has come to this....

I thank you for making me think this Tuesday, sir!

It is a matter of how you look at it, how do you know your salary is based on a 365 day year? Maybe your salary is based on a 366 day year and for three years your are paid for a day you don't work.

Is the glass half full or half empty?

its 1/4 of the way empty

you are paid based on 2080 hours worked if you are salaried (52 weeks at 40 hours per)...leap year doesn't add any more working days...

oh my......

If they pay you a set number of times per month, then yes. If they pay you every two weeks, then no. I pointed out here awhile back that since we pay every two weeks, we're actually understating our salary by one day every year. I should have realized that it's actually understated by two days every leap year! Not entirely immaterial - once you add in payroll taxes, it's just under 1% of salary and wages.

If you get paid an annual salary amount and have that divided by 24, if wouldn't make any difference. You don't get paid by the day, but by a yearly amount. It's just broken up into 2 payments each calendar month. They could pay once a month like some schools and other jobs. Still comes out to the same annual amount. If you were paid by the hour, then your pay would fluctuate from payday to payday if paid only twice a month as you worked differing hours.

Is LA a right to work state?

As a salaried employee, you represent the bank 24/7/365 or 366.

And you serve at the pleasure of the board.

I refuse to work today since I'm technically NOT getting paid!