Payroll Accountant Salary
Job Description for Payroll Accountant
Payroll accountants generate, maintain, and interpret various reports and financial statements for the company. Most of their work is performed internally, and adherence to various government standards and company policies is critical. Depending on the size of the company, this work may be performed with a team of other accountants or independently; however, payroll accountants should be flexible enough to work both independently and in a team setting. All work is performed in an indoor office environment during regular business hours, although some overtime may be required due to upcoming deadlines or other business needs.Read More...
The work is generally not physically demanding, although it often requires long hours on computers. The ability to meet strict deadlines and pay excellent attention to detail are needed. Proficiency with basic computer programs such as the Microsoft Office suite are required as well.
Jobs as a payroll accountant are common in a wide variety of companies, with larger businesses often separating the job into various levels. At the highest levels, the position typically requires at least five years' experience in a similar role; lower-level positions may require substantially less experience or be entry level. Most positions also require at least a bachelor's degree in accounting, finance, business administration, or a related field. Other potential qualifications include status as a certified public accountant (CPA), although many companies offer training to obtain this certification to qualified entry-level candidates.
Payroll Accountant Tasks
- Analyze financial data in order to prepare financial reports.
- Utilize accounting principles to report employee earnings; such as salaries, wages, bonuses, and overtime and payroll taxes as well as employer paid benefits; such as vacation and holidays, various insurance and retirement plans.
- Generate and interpret financial records and statements for management.
- Maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
Payroll Accountant Job Listings
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Popular Skills for Payroll Accountant
Survey results suggest that Payroll Accountants put a wide range of professional skills to use. Most notably, skills in Accounting, General Ledger Accounting, Payroll Tax Compliance, and ADP Payroll System are correlated to pay that is above average, with boosts between 6 percent and 13 percent. At the other end of the pay range are skills like Microsoft Excel and Accounts Receivable. The majority of those who know Payroll Administration also know ADP Payroll System and Accounts Payable.
Pay by Experience Level for Payroll Accountant
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Relatively untried employees who have less than five years' experience make $44K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $52K. Payroll Accountants with one to two decades of relevant experience report an average salary of approximately $52K. Respondents who boast more than two decades on the job don't boast commensurate pay, unfortunately; these veterans see average earnings of only $51K.
Pay Difference by Location
Home to some of the best pay for Payroll Accountants, Chicago offers exceptional salaries, 38 percent above the national average. Payroll Accountants will also find cushy salaries in San Francisco (+32 percent), Los Angeles (+21 percent), San Jose (+16 percent), and Washington (+12 percent). Location significantly influences compensation, with Colorado Springs Payroll Accountants earning much less — 21 percent less — than the national average. Two other places where employers offer below-median salaries are Portland (18 percent less) and The Woodlands (8 percent less).