The payroll specialist is a versatile position which can be found in lots of different industries and many business and company sizes, from small to Fortune 500. Payroll specialists are responsible for ensuring that time cards are current, that employees are paid correctly and on time for the hours they work, and for keeping an accurate record of payment expenditures. Payroll specialists may need to have tax knowledge, union knowledge, and knowledge of the company's budget.
Payroll Specialist Job Education Requirements
A high school degree is enough qualification to become a payroll specialist if the job candidate demonstrates good organizational skills, math skills, communication skills, and problem solving skills. On the job training is often provided though professionals with previous job experience or with higher education in business management, accounting, or administration are often top candidates.
Payroll Specialist Job Market
Though the Bureau of Labor Statistics doesn't have a job growth statistic specifically for payroll specialists, the wider field of financial clerks is expected to grow at a rate of 11 percent through 2022. As of 2014, the BLS reports that 166,440 people were employed as payroll or timekeeping clerks. Payroll specialists may find employment in many industries, though those applying with smaller businesses can expect to be required to do broader administrative tasks as well as payroll.
Some payroll specialists go on to become payroll managers and administrators. Others move into the payroll and timekeeping clerks, according to the BLS, was $19.09 in 2014. The top ten percent in the field can expect to earn $28.15 or higher an hour, or $58,550 a year full time.