A payroll specialist is an important person in the payroll department of a company. He or she deals with more complex payroll matters like dealing with employee’s taxes, garnishment and deduction of funds from the employees’ paychecks. The average salary for a payroll specialist varies by state and by industry. It also depends on whether he or she is working on a full time or part time basis. Find below some of the factors that could determine the average salary for a payroll specialist.
The average salary for a payroll specialist is $54,000.
The median annual salary for payroll specialists was $48,600 in May 2016. The median hourly wage was $24.64. The lowest 10% earned less than $23,640 and the highest 10% earned more than $75,670.
What is the average salary for a payroll specialist
Introduction
A payroll specialist’s salary varies depending on the size of the company, the level of experience and whether or not they have a college degree. They can earn overtime pay and bonuses on top of their base pay. A payroll specialist is usually responsible for preparing payroll checks and making direct deposits into checking accounts.
According to the Bureau of Labor Statistics, in 2015 there were 2.9 million wage and salary workers in the United States with job titles containing the word “specialist”.
The Bureau of Labor Statistics (BLS) reports that the average salary for a payroll specialist is $35,000 annually. The median salary is slightly lower at $33,000 annually. The minimum and maximum salaries range from approximately $25,000 to $75,000 per year.
The average for a payroll specialist is $35,000 annually.
The average for a payroll specialist is $35,000 annually.
It’s also worth noting that the median annual wage for a payroll specialist is $35,000.
Base pay for payroll specialists can range from $30,000 to $50,000 a year.
The base pay for payroll specialists is between $30,000 and $50,000 a year. Payroll specialists with experience or special skills can earn more than $35,000.
Payroll specialists who work overtime also receive overtime pay.
They can earn overtime pay and bonuses on top of their base pay.
Overtime pay can vary between states, so if you’re interested in this position and live in a state that requires employers to follow its overtime laws, it’s important to be aware of those rules.
In most cases, overtime pay is calculated based on hours worked during the week and multiplied by 1.5 times an employee’s normal hourly rate. For example: If an employee works 40 hours per week for 50 weeks at $15 per hour (including benefits), their annual salary would be $30,000 before taxes. To calculate their overtime rate for the additional 10 hours they worked each week, consider that they made time-and-a-half (1 ½ times their regular rate) when they worked more than 40 hours per workweek and double their hourly wage ($30K x 1 ½ = $45K). In this case, it would equal out to be about $917 per week or about $4,500 annually if you were paid 12 times throughout the year rather than monthly like most companies do it nowadays!
Payroll specialist earn a good salary if they have experience or special skills.
If you’re thinking of becoming a payroll specialist, it’s important that you know what to expect in terms of salary. Payroll specialists earn a good salary if they have experience or special skills. Payroll specialists with experience can earn a higher salary than those with less experience, and payroll specialists with special skills can earn even more money at their jobs.
Conclusion
Based on these findings, we can see that the average salary for a payroll specialist can be anywhere between $30,000 and $50,000 annually. This is a significant difference from the national average of all occupations at $45,790 per year. However if you have specialized skills or experience your salary may increase to $65,000 – $75,000 annually.
