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 |
For hourly wage types, Plane will send administrators an email reminder when a payment date is approaching, and administrators can enter the amounts for those payments.