What is the difference between bi-monthly and bi-weekly payments?

In summary, bi-monthly and bi-weekly are different pay schedules for employees. Bi-monthly means getting paid twice a month, while bi-weekly means getting paid every other week. Bi-monthly pay schedules can also be called semi-monthly and provide 24 pay periods per year, while bi-weekly pay schedules provide 26 pay periods per year. Bi-monthly pay schedules have fluctuating pay dates, while bi-weekly pay schedules usually pay on the same day of the week, often on Fridays.