Nope - bi monthly means once every two months.
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Bi-monthly has an ambiguity to it, it can mean 'twice a month' or 'every two months'. Where as semi-monthly means only 'twice a month'.
Semi-Monthly means twice per month. Bi-weekly means every two weeks. A Semi-Monthly cycle occurs 24 times per year. A Bi-Weekly cycle occurs 26 times per year.
24 Semi-Monthly means twice per month. 12 months in a year times twice a month = 24
bi monthly is once every two months.
Bi-monthly means you are paid twice every month, notice the prefix bi which means two. Since there are 12 months in a year, a person being paid bimonthly would have 24 pay periods in a year (12 X 2 = 24)