One of the main duties of a payroll manager is to make sure that the salaries are distributed to all the employees in due time. Keep reading to know more…
There are some jobs which are absolutely essential for the running of companies in any industry. Good examples of such career opportunities can be the administration manager, HR manager, and the payroll manager.
The duties of these professionals are very important to be performed in any organization. The payroll manager is a person who is responsible for looking after the remuneration of employees, benefit and bonus distribution, timesheet management, and similar other factors. He is in total control of the functioning of the company’s payroll department.
He has to manage and coordinate the work of his subordinates and other team members. He is responsible for implementing in the company remuneration policies the state laws regarding payroll, benefits, leaves and holidays, tax, wages, etc. He has to see to it that all payroll procedures are followed according to the federal and state laws.
He has to carry out functions such as setting up new hires on payroll of the concern, sorting out temporary workers from permanent ones, recording worker transfer information, and documenting details about promotions and terminations of employees. He has to keep a detailed record of payroll-related balance sheets and year-to-date income. Knowledge about latest payroll procedures, theories, and software to better current procedures in the company is also essential.
He has to prepare specialized reports regarding aggregate payroll, hours worked in total, and tax deduction, and submit them to the top management for periodical reviews. He has to consult and work with members from the HRM and finance department. He generally reports to the director or vice-president of payroll, but the reporting requirements may depend on the hierarchy of the company. During the performance appraisal period, he has to carry out the performance evaluation procedure of his subordinates in the department.
To become a payroll manager, you have to possess the core knowledge of how payroll works. A bachelor’s degree in the field of business, finance, and accounting is also a crucial requirement. Along with education, you need to have a minimum of five years experience. The American Payroll Association (APA) administers certifications of payroll professionals such as Certified Payroll Professional (CPP) and Fundamental Payroll Certification (FPC). Those holding the CPP certification are more likely to be in demand by employers.
The average salary of these professionals is reported to be about $60,000 per annum. The table below gives you the approximate per annum salary range for these professionals.
|Years of Experience||Median Salary Scale|
|0 to One Year||$35,000 to $50,000|
|One to Four Years||$36,000 to $53,000|
|Five to Nine Years||$44,000 to $63,000|
|10 to 19 Years||$49,000 to $70,000|
|Over 20 Years||$51,000 to $75,000|
|State of Employment||Median Salary Scale|
|New York||$50,500 to $74,500|
|California||$55,000 to $74,000|
|Texas||$43,000 to $67,000|
|New Jersey||$47,000 to $75,000|
|Illinois||$47,500 to $68,000|
|City of Employment||Median Salary Scale|
|New York City||$54,000 to $77,000|
|Houston||$44,000 to $68,000|
|Atlanta||$41,000 to $64,500|
|Chicago||$55,500 to $71,000|
|Dallas||$61,000 to $82,000|
This is some general information on payroll manager job description, entry requirements, and salary range. The job profile is also very important in a firm where there are additional payroll responsibilities, such as biweekly or daily wage distribution.