Payroll Specialist in Chicago, Illinois Salary
How much does a Payroll Specialist make in Chicago, IL? In Chicago, a Payroll Specialist takes home an average of $50,041 annually. This is 6% above the national average for a Payroll Specialist which is $46,892 annually. Salaries for a Payroll Specialist in Chicago range from $39,232 per year to $75,535 per year. Total Annual Pay, which includes salary, bonus, and overtime for a Payroll Specialist in Chicago ranges from $30,917 to $61,756 annually. Among those reporting, there is an average job satisfaction rating of 4 out of 5 stars. In Chicago, women make up the majority of the workforce (83 percent). Many report receiving medical, dental, and vision benefits from their employer.
|Salary||$39,232 - $75,535|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$30,917 - $61,756|
|Hourly Rate||$14.00 - $25.85|
|Overtime||$20.60 - $45.12|
|Total Pay (||$30,917 - $61,756|
Job Description for Payroll Specialist
Payroll specialists can be found in many industries from small businesses to large organizations. Job responsibilities often include payroll processing, maintaining personnel databases, and managing budgetary expenditures. Knowledge and experience with tax laws, union contracts, wage and hour laws, and common fiscal procedures are important. Most payroll specialists are expected to have a good understanding of budgetary operations. Payroll specialists report to a supervisor who oversees the department. Flexible hours, including evenings and weekends, may be required.Read More...
Successful payroll specialists are able to multitask and manage time in a fast-paced environment. They may also be expected to work directly with clients and to successfully address and resolve employee complaints and concerns. A broad range of computer skills are necessary. Payroll specialists often work with online database programs and payroll processing, as well as Microsoft Office applications. Specialists may be called on to prepare reports and to provide accurate company data to management. Clerical skills also are very important. Within one work day, a payroll specialist may be performing data entry, verifying accuracy, maintaining files, preparing mail-outs, addressing contract issues, and answering calls and emails to clients and employees.
Payroll Specialists must be self-motivated, detail-oriented, and work well with numerical data. They must also have excellent customer service skills. A high school diploma or GED is required, while an associate's or bachelor’s degree in accounting or business is often preferred. (Copyright 2017 PayScale.com)
Payroll Specialist Tasks
- Audit employee timesheets for hours worked and accuracy.
- Prepare payroll related journal entries for period-end.
- Maintain, prepare and process payroll for organization personnel.
- Maintain current knowledge of IRS regulations.
- Compile and submit payroll deductions related check requests and payments.
Payroll Specialist Job Listings
Pay by Experience Level for Payroll Specialist
Pay by Experience for a Payroll Specialist has a positive trend. An entry-level Payroll Specialist with less than 5 years of experience can expect to earn an average total compensation of $42,000 based on 22 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Payroll Specialist with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $49,000 based on 10 salaries. An experienced Payroll Specialist which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $51,000 based on 11 salaries. A Payroll Specialist with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $46,000 based on 10 salaries.
Key Stats for Payroll Specialist
Rated 4 out of 5
based on 8 votes.