Plane's pay schedule calculation methodology takes into consideration what's most commonly used and what is most intuitive, with a goal of preventing fluctuations in payment amounts due to quirks of the calendar (i.e. the number of total work days in a calendar year and in a given month of a year naturally varies depending on the year and/or month).
Pay schedule calculations as of Nov 1, 2021:
Wage Type | Pay Frequency | Amount Calculation |
Annual | Monthly | wage / 12 |
Annual | Semi-monthly | wage / 24 |
Annual | Bi-weekly | wage / 26 |
Annual | Weekly | wage / 52 |
Monthly | Monthly | wage |
Monthly | Semi-monthly | wage / 2 |
Monthly | Bi-weekly | wage × 12 / 26 |
Monthly | Weekly | wage × 12 / 52 |
Weekly | Monthly | wage × 52 / 12 |
Weekly | Semi-monthly | wage × 52 / 24 |
Weekly | Bi-weekly | wage × 2 |
Weekly | Weekly | wage |
Daily | Monthly | wage × 5 × 52 / 12 |
Daily | Semi-monthly | wage × 5 × 52 / 24 |
Daily | Bi-weekly | wage × 10 |
Daily | Weekly | wage × 5 |
💡 Please note: For Hourly wage types, administrators need to enter the hours worked into the payroll run for each period before the payroll deadline. Plane will send administrators email notifications if the hours haven't been added as the deadline approaches.
Questions? We’re here to help! You can find more of our guides here, reach out to us at support@plane.com, or use Plane's in-app chat.