How this calculator works
A semi-monthly salary is divided into 24 equal payments. This page uses a planning schedule of the 15th and final calendar day of every month, including February in leap years. Each month receives two equal cheques. The biweekly equivalent divides the same annual amount by 26. Hourly equivalents assume 52 paid weeks and the supplied weekly hours and days. The figures are CAD before income tax and payroll deductions.
Formula
Semi-monthly cheque = annual salary / 24 = monthly salary / 2. Annual equivalent = hourly wage x weekly paid hours x 52. Biweekly equivalent = annual salary / 26. Month-end date = final calendar day of the selected month and year. In schedule modes, divide annual salary by 52 and the known hourly or daily rate.
Worked example
A $62,400 annual salary gives 24 semi-monthly cheques of $2,600 and $5,200 per month. The biweekly equivalent is $2,400. An entered $1,500 semi-monthly cheque annualizes to $36,000. For 2028, the February schedule contains February 15 and February 29.
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Frequently asked questions
Why is my semi-monthly cheque larger than a biweekly cheque?
The same annual salary is spread across 24 payments instead of 26. The larger cheque does not mean higher annual earnings.
Does every semi-monthly period contain the same hours?
No. The number of weekdays varies. Equal cheques apply to the fixed-salary planning assumption. Hourly employees should total their actual paid hours for each period.
Can my employer pay on different dates?
Yes. The 15th and month-end dates are an explicit planning convention, not a rule about your payroll. Use your employer's schedule if it differs or adjusts for holidays.
Are these take-home amounts?
No. The results are gross amounts. Income tax, pension contributions, insurance and other deductions depend on your payroll circumstances.