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Payroll is an essential aspect of any business, and getting it right for both the company and its employees is critical. That’s where the Payroll Specialist comes in.
A Payroll Specialist typically manages and oversees all aspects of a company’s payroll. Payroll Specialists handle myriad tasks, from collecting bank and direct deposit information to handling paper checks for employees, from maintaining accurate records to keeping up on taxation and much more. Payroll Specialists often are called on to do it all, making this position a vital part of a crucial department for all businesses.
If you have the background, plus excellent math and communication skills, an eye for detail, and can balance many different projects and tasks at once, you may have the skills and interests to be a great Payroll Specialist.
This position requires a bachelor’s degree in accounting, finance, or a related field.
According to Payscale the median annual salary of a Payroll Specialist with
1 Year of Experience:
5 Years of Experience:
The career path for a Payroll Specialist starts with obtaining a bachelor’s degree in accounting, finance, or a related field. Candidates can further their career prospects and potential by completing classes or earning a certification from the American Payroll Association.
Although some aspects of the payroll process are being automated, jobs in this field are estimated to grow in the next handful of years at a rate that’s about average in comparison to careers across the board. This steady growth helps make the position of Payroll Specialist a stable career for interested and talented candidates.
According to the U.S. Bureau of Labor Statistics, employment of financial clerks (which typically includes Payroll Specialists), is projected to grow five percent through 2028; this is an average rate of growth.
The typical work hours for a Payroll Specialist can be from 9 a.m. to 5 p.m. Monday through Friday in an office setting. However, longer or different hours can be necessary.
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