Payroll Analyst Salary
Job Description for Payroll Analyst
Payroll analyst positions are found in many different industries, but their basic role is usually similar across fields. The duties performed in this position revolve around handling payroll processing and management. This includes duties such as communicating with staff to ensure necessary payroll-related tasks are completed, completing daily audits and reconciliation, and coordinating with finance and human resources departments as needed. Other duties performed by payroll analysts include investigating payroll information, preparing garnishment reports, completing employment verification, posting journal entries, completing quarterly audits, performing database maintenance, and other miscellaneous payroll-related duties.Read More...
Work hours for payroll analysts are generally limited to typical business hours, although it is possible to find other shifts. Work is generally limited to an indoor environment such as an office, with physical requirements limited to typing on computers for long hours.
Positions as payroll analysts range from entry-level openings to those requiring more extensive work experience, sometimes at least five years in a similar position. Most openings also require a bachelor’s degree in accounting or a related field. This position puts a large emphasis on timeliness and accuracy, so careful attention to detail and dedication are essential in this position. Proficiency with basic computer programs is needed, as is extensive knowledge of laws and regulations regarding payroll and related topics.
Payroll Analyst Tasks
- Calculate, key, total, and balance substitute payrolls.
- Handle voluntary and involuntary deductions.
- Enter changes to employee payroll records.
- Create reports for information pertaining to retirement and payroll.
- Communicate with employees regarding changes in salary, benefits, etc.
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Popular Skills for Payroll Analyst
Payroll Analysts seem to require a number of specific skills. Most notably, skills in SAP Payroll, ADP Payroll System, Payroll Tax Compliance, and Payroll Administration are correlated to pay that is above average, with boosts between 4 percent and 19 percent. Those educated in Microsoft Excel tend to be well versed in ADP Payroll System and Payroll Tax Compliance.
Pay by Experience Level for Payroll Analyst
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Those in the early stages of their career can expect to make around $47K; however, individuals with five to 10 years of experience bring in $53K on average — a distinctly larger sum. After working for 10 to 20 years, Payroll Analysts make a median salary of $57K. Survey participants with more than twenty years of experience only make around $56K on average, though; this group reports a lower median than the one claimed by mid-career individuals.
Pay Difference by Location
For Payroll Analysts, working in the bustling city of San Francisco has its advantages, including an above-average pay rate. Payroll Analysts can also look forward to large paychecks in cities like New York (+25 percent), Houston (+10 percent), Chicago (+9 percent), and Seattle (+8 percent). Payroll Analysts' salaries are heavily influenced by location — Payroll Analysts in Louisville bring in salaries that are 21 percent lower than the national average. Employers pay around 19 percent less in Pittsburgh and 12 percent less in Denver, below-median salaries for those in this field.
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