What is a Pay Period?

A pay period is the interval of time over which an employee's pay is calculated and disbursed. It is the time frame between two consecutive payroll cycles. For example, a bi-weekly pay period would mean an employee is paid every other week, and a monthly pay period would mean an employee is paid once a month. The specific pay period for an employee can depend on their employer's policies, the laws of the country, and the employment agreement between the employer and employee.