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Office of Financial Services > Accounting Operations > Frequently Asked Questions > How is my paycheck calculated?  

Frequently Asked Questions: How is my paycheck calculated?

Category

Pay 

Question

How is my paycheck calculated?  

Answer

All employees are paid on a standardized pay schedule.  Standardized pay is paid semi-monthly on the 15th and last business day of each month.  Standardized pay consists of equal amounts paid to employees through the fiscal year.  Each employee's total fiscal year earnings for the scheduled number of days worked are divided by the number of paychecks in a fiscal year to reach a gross semi-monthly pay period amount. 

For example:

An instructional employee scheduled to work 196 days in the fiscal year, earning, $36,000 a year, divided by 24 paychecks, equals a $1,500 gross semi-monthly pay period amount. 

A support employee scheduled to work 193 days in the fiscal year, 6.5 hours per day, hourly rate of $11.27.  The hours per day is multiplied by the hourly rate to equal a daily rate of $73.26.  The daily rate is multiplied by the number of days scheduled to work to equal the total gross pay for the fiscal year ($73.26 x 193 = $14,139.18.  The total gross pay is then divided by the number of paychecks in the fiscal year, 21, to equal a gross semi-monthly pay period amount of $673.29.  The gross semi-monthly pay period amount may vary if additional time or overtime is worked. 

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Created at 5/20/2010 1:34 PM  by Moses, Linda@Accounting Services 
Last modified at 5/15/2014 3:26 PM  by BREVARDSCHOOLS\Mosca.Jessica