What You’ll Learn About Payroll Managers
A Payroll Manager oversees the organization's payroll functions, ensuring that all aspects of payroll are processed accurately and on time. They manage payroll preparations, transactions, and reporting in compliance with legal and company policies. The role includes supervising payroll staff, resolving payroll discrepancies, and maintaining accurate payroll records.
Payroll Managers also handle related tasks such as tax filings, benefit calculations, and compliance with federal and state payroll regulations. They work closely with HR and accounting departments to coordinate compensation details, deductions, and documentation, ensuring a seamless integration of payroll systems within the organizational financial operations.
Key Duties & Responsibilities
Payroll Managers in the Finance field handle essential tasks and contribute significantly to achieving team and organizational goals. Here are some of their primary responsibilities:
- Supervise and coordinate activities of the payroll team to ensure accurate and timely processing of payroll updates including new hires, terminations, and changes to pay rates.
- Ensure compliance with federal, state, and local payroll, wage, and hour laws and best practices.
- Prepare and maintain accurate records and reports of payroll transactions.
- Facilitate audits by providing records and documentation to auditors.
- Identify and recommend updates to payroll processing software, systems, and procedures.
- Manage and resolve issues relating to payroll production.
- Handle and resolve taxation and deduction issues.
How to Become a Payroll Manager
Launching a career as a Payroll Manager requires a specific education. We outline the essential qualifications, skills, and steps to enter this field.
Qualification
- Bachelor’s degree in Accounting, Business Administration, Human Resources, or related field.
- Previous experience in payroll or a similar role.
- Knowledge of payroll software and strong familiarity with wage and hour laws.
- Certified Payroll Professional (CPP) designation preferred.
- Excellent analytical skills and attention to detail.
Requirements & Skills
- Strong leadership and team management skills.
- Highly organized and able to multitask effectively.
- Excellent mathematical and statistical abilities.
- Proficient in using payroll software and systems with strong IT skills.
- Good communication skills for interacting with various departments and external agencies.
Payroll Manager Salary Guide
Wondering what Payroll Managers earn? Explore salary ranges by experience, and career tips to maximize your earning potential.
| Job | Branch | Avg. US Salary |
|---|---|---|
| Payroll Manager | Finance | 75,000 USD |
The average salary for a Payroll Manager in the U.S. is approximately $75,000 per year and can vary from entry-level to senior positions. Payroll Managers may receive a wide range of benefits.
Payroll Manager Salary Career Steps
| Level | Experience | Avg. Salary per Year |
|---|---|---|
| Veteran | 20+ years | $93,750 |
| Senior | 11+ years | $82,500 |
| Experienced | 6-10 years | $75,000 |
| Mid Level | 3-5 years | $67,500 |
| Entry Level | 0-2 years | $56,250 |
How to Advance Your Career
Payroll Managers can advance to higher-level positions such as Director of Payroll, where they oversee larger teams and manage more complex payroll systems. Some may transition into broader financial, HR, or administrative roles within large organizations or pursue specialization in areas like benefits administration or compliance.
Typical Work Environment
Payroll Managers typically work in an office environment within the HR or finance department of a company. They may work extra hours during the end of the fiscal year or tax season to ensure all financial obligations are met. The job often involves a high level of precision and attention to detail to manage complex payroll systems and maintain compliance with regulatory requirements.
Cityjobs.info provides not only a detailed Payroll Manager job description but also insights about salary data in different countries worldwide.
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