Payroll Manager Job Overview Payroll managers prepare payroll each week and ensure that all the employees of a company ...
Payroll Manager Job Overview
Payroll managers prepare payroll each week and ensure that all the employees of a company get paid. They also compose, research, and complete reports. Payroll managers maintain regular financial records regarding payroll for a company. They direct the collection of data, and they enter it into computerized systems. They update payroll records as needed, and they direct the issuance of paychecks or electronic transfers, depending on how employees are paid. They also work as part of a team to suggest solutions to payroll dilemmas, and they answer questions and requests as needed.
Payroll Manager Job Education Requirements
In order to become a payroll manager, one should earn at least a bachelor's degree in accounting or finance. If possible, a master's degree with the same concentrations is preferable to employers and will also help one stand apart among applicants for payroll manager jobs. When it's comprehensive, on-the-job experience is invaluable and should be added to one's resume as well. Sometimes employers will accept payroll managers if they have a strong financial background and relevant work experience, but most should follow this traditional educational path.
Payroll Manager Job Market
The job market for payroll manager jobs is thriving, and it is likely to grow and evolve in the coming years. As more systems are streamlined, technological advances oftentimes make a lot of labor and paperwork that payroll managers used to do obsolete. Therefore, job duties continue to shift for payroll managers, but they will be in demand for many years to come because every business needs a payroll manager. Similar in-demand positions include payroll clerk and payroll supervisor jobs.
Payroll Manager Job Salary Information
The average annual salary for a payroll manager is C$98,000. Those who have little experience or fail to meet the educational requirements may earn quite a bit less, while payroll managers who have a lot of experience will likely be able to command six-digit salaries.