Payday

Payday is the day on which employees receive their wages for work performed during a specific pay period. The exact date is determined by employer payroll schedules, which vary by country and industry. Common pay frequencies are weekly, biweekly, semimonthly, and monthly. The term is also used in relation to payroll systems and the broader concept of wage payment.

In a typical payroll cycle, gross pay is calculated from base wages, overtime, commissions, bonuses, and other earnings. Deductions are applied for taxes, social insurance, retirement contributions, health insurance, and other withholdings. The resulting net pay is issued to employees via direct deposit, payroll card, or physical checks, often accompanied by a payslip detailing earnings and deductions. Employers are generally required by law to comply with agreed pay schedules and to provide timely payment, accurate records, and legally mandated withholdings. Wage theft and late payment are regulated in many jurisdictions.

Payday influences budgeting and consumer behavior, as many people rely on this timing to meet bill obligations and debt payments. Short-term credit products known as payday loans are marketed as rapid cash against a future paycheck, and have raised debates about cost and consumer protection.

Variations in payday practice reflect local labor laws and economic conditions, with some regions favoring weekly or biweekly pay and others monthly.

Payday may also refer to cultural or entertainment uses, including video game titles such as Payday: The Heist and its sequels, which center on heist scenarios rather than wage payment.