Payroll managers are part of a company’s human resources administrative team. They are in charge of of the organization’s payroll department and make sure that all parts of the payroll process are done in the right way. According to the Bureau of Labor Statistics, they also handle payroll processes, write reports to give to accounting, and solve problems with any payroll issues that may arise.
Certification May Help Increase Pay
If you’re thinking of becoming a payroll manager, consider earning the Certified Payroll Professional credential from the American Payroll Association. There are several options to become one, but you’ll need to take the examination to earn the qualification. You may be able to earn a higher salary with this certification.
As of May 2016, the average hourly wage for payroll specialists, who are grouped under the occupational category of human resources managers by the BLS, was $57.79, and the average annual salary was $120,210. Those earning in the 10th percentile earned an hourly wage of $30.35 per hour, or $63,140 per year, while those in the 90th percentile earned $93.05 per hour, or $193,550 per year. The median salary was $106,910 per year, or $51.40 per hour.
Salary by Industry
The highest-paying industry for payroll managers was Monetary Authorities-Central Bank at $86.58 per hour, or $180,090 per year, on average. The next highest-paying was Securities and Commodity Contracts Intermediation and Brokerage at $80.86 per hour, or $168,180 per year, on average. In third place was Cable and Other Subscription Programming at $79.37 per hour, or $165,100 per year, on average.
Salary by State
New Jersey paid the highest at an annual mean salary of $157,110 per year, or $75.54 per hour. The District of Columbia came in next at $149,170 per year, on average, or $71.71 per hour. Rhode Island was in third place with an average yearly salary of $147,890, or $71.10 per hour. New York came in fourth place at a mean annual salary of $142,720, or $68.62 per hour. Colorado was in fifth place at $139,530 per year, on average, or $67.08 per hour.
Salary by Metro Area
If you want to live in the metropolitan area where payroll managers earn the most, head to Newark, NJ-PA, where the hourly mean wage was $82.01, or $170,570 per year. You can also try San Jose-Sunnyvale-Santa Clara, CA, where the average hourly wage was $79.29, and the yearly average salary was $164,920. San Francisco-Redwood City-South San Francisco, CA paid an average hourly wage of $77.93, or $162,090 per year.
Salary by Non-Metro Area
Maybe you don’t like the big city. That’s okay; you can still make a good living as a payroll manager. Check out West Central New Hampshire, where you could earn an average hourly wage of $64.16, or $133,450 per year. The Southwest New York non-metro area was the second highest-paying non-metro area with an average hourly wage of $61.31, or $127,530 per year. Finally, the Northern Vermont non-metro area paid an average of $59.17 per hour, or $123,060 per year, on average.