Payroll & Benefits Manager Salary
Payroll & Benefits Managers who are practiced in their profession and carry more than 10 years of experience make up about three in five of Payroll & Benefits Managers. Pay fluctuates from $40K to $90K per year, but expected earnings average $63K per year. Total cash earnings of Payroll & Benefits Managers range from $40K on the low end to $90K on the high end; the final amount can include bonuses and profit sharing proceeds that occasionally exceed $10K and $8K, respectively. Residence and career length each impact pay for this group, with the former having the largest influence. Job satisfaction for Payroll & Benefits Managers is high. Medical benefits are awarded to a large number, and a fair number earn dental coverage. The numbers in this rundown were provided by PayScale's salary survey participants.
Job Description for Payroll & Benefits Manager
Payroll and benefits managers are responsible for creating and distributing information about payroll, benefits, and other employee-related programs for their organization. They are in charge of facilitating benefits and compensation programs for employees. These managers produce program information, create materials to promote payroll incentives, and schedule and participate in training sessions for new payroll and benefits programs. Payroll and benefits managers attend company meetings to report their progress to executives and use a personal computer to track their progress, keep accurate records, and communicate with internal staff and external partners. They also process payroll and benefits requests after reviewing program requirements.Read More...
Other tasks performed by payroll and benefits managers include overseeing completion of tasks delegated to other departmental staff members, track the approval of salary adjustments and reimbursement claims, and manage employee benefits and eligibility. They calculate contractor and overtime pay based on employee qualifications and other company policies, as well as reconcile payroll statements. Payroll and benefits managers also respond to employee inquiries for vacation and other paid time off. In addition, they handle personnel files and prepare reports. Payroll and benefits managers review unemployment forms, investigate worker issues as they arise, handle employment verification tasks, and help other human resources staff managers to process termination paperwork. In all tasks, these managers must follow all relevant laws and company policies.
A bachelor's degree in human resources, accounting, or a similar field is required for this position. Previous experience in a managerial capacity is necessary as well. Leadership and industry certifications may be preferred. Payroll and benefits managers should have strong communication skills to interact with a variety of employees and accomodate their needs regarding benefits initiatives. They must pay strong attention to detail and be able to multitask as well.
Payroll & Benefits Manager Tasks
- Supervise processing of employee payroll and distribution of paychecks.
- Oversee employee education about company benefits and enrollment in programs.
- Conduct audits of tax forms, payroll balance sheets, and benefits.
- Maintain and update payroll database system.
- Input new employees into payroll database and keep employee information up to date.
Common Career Paths for Payroll & Benefits Manager
Though it's uncommon, some Payroll & Benefits Managers move into roles as Human Resources Directors, where pay is an average $80K per year. Many Payroll & Benefits Managers go on to become Human Resources Managers or Payroll & Benefits Administration Managers despite the fact that median compensation in those roles is reportedly $2K lower and $10K lower, respectively.
Payroll & Benefits Manager Job Listings
Search for more jobs:
Popular Skills for Payroll & Benefits Manager
Payroll & Benefits Managers seem to require a number of specific skills. Most notably, skills in Human Resources Information System, Payroll Tax Compliance, ADP Payroll System, and Benefits Administration are correlated to pay that is above average, with boosts between 6 percent and 12 percent. Skills that seem to negatively impact pay include Human Resources. Most people who know Benefits Administration also know ADP Payroll System.
Pay by Experience Level for Payroll & Benefits Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For Payroll & Benefits Managers, experience does not seem to be a major factor in determining pay. The average inexperienced worker earns $51K, and someone who has worked for five to 10 years can expect a bigger median salary of $57K. Payroll & Benefits Managers see a median salary of $68K after reaching one to two decades on the job. Individuals who have achieved more than 20 years of experience don't seem to earn much more than people who have 10 to 20 years under their belts; the more senior group reports an average income of $70K.
Pay Difference by Location
For Payroll & Benefits Managers, busy Houston offers a higher-than-average pay rate, 40 percent above the national average. Payroll & Benefits Managers will also find cushy salaries in New York (+29 percent) and Chicago (+12 percent). The lowest-paying market is Dallas, which sits 21 percent below the national average, proving that location is a significant contributor to overall pay. Not at the bottom but still paying below the median are employers in Indianapolis and San Diego (13 percent lower and 10 percent lower, respectively).
Related Job Salaries
Key Stats for Payroll & Benefits Manager
Rated 5 out of 5
based on 67 votes.