For my current job, I get paid twice a month, and that’s 24 paychecks per year. In the past, I worked for a company that issued paychecks every two weeks. Since there are 52 weeks in a year, divide by 2 and you have 26 paychecks per year. This meant that there were two months sprinkled throughout the year that we called “three-check months.” That third check was supposed to be gravy. Just a bonus. But somehow, it never worked out that way.
It is typical for some companies to pay a bonus once a year. I’ve worked for a company like that, and I remember every year it was a big mystery what the bonus would be. It was ostensibly based on the company’s overall performance and on our individual performance. No matter how much the bonus check was, it was always a disappointment to see almost half of it taken away in taxes.
Other companies might pay a quarterly bonus four times per year. I know some people who actually get monthly bonus checks in addition to their regular paychecks. Those people are living the dream of three-check months every month, and it’s all gravy!
Now a bonus should be considered extra income, but I know if you are getting that bonus every month you’ll get used to it. Then you start counting on that bonus as part of your salary. That’s a dangerous game because a bonus is never guaranteed, so don’t get used to it.