Do you love being in control of finances for your family or friends? Are you good with numbers and have a way with people? If your answer’s yes, a career in payroll can be an ideal option for you.
Before you get down to know about payroll courses, you should ideally know more about the profession and whether it can fit your career aspirations. Payroll management is an incredibly important business function of any organization and will always be in demand.
Additionally, payroll employees are often in charge of huge reserves of money and are paid some of the best salaries in the industry. Let’s dive deeper into what your job description would be as a payroll manager and how you can acquire relevant skills.
What does a payroll manager do?
In most companies, payroll managers come from either an accounting background or a human resource management background. They usually handle different aspects of employee payments, tax calculations, and payroll accounts.
While the exact job description might vary from one company to another, here are some core duties of the job.
- Preparing compensation reports that involve savings, insurance coverage, exemptions, and deductions
- Managing and supervising payroll procedures
- Identifying the financial liabilities of the company towards the employees such as federal and state income tax, social security tax, and workers’ compensation benefits
- Providing guidance and training to the payroll team
- Processing and distributing employee paychecks and direct transfers
- Ensuring that existing financial systems and procedures are compliant with laws and regulations.
How much will you make as a payroll manager?
Most payroll managers work as full-time employees of an organization and earn relevant salaries. The salary of a payroll manager is mostly dependent on previous experience, geographical location, and educational background.
According to payoneer.com, an average payroll manager in Dublin can earn around € 32,000 per year. You can further improve your compensation prospects by adding to your academic qualifications or through relevant experience.
What do you need to study for becoming a payroll manager?
A payroll management job requires you to have a broad knowledge of both finance and human resource management. Therefore, most employers prefer candidates who have at least one bachelor’s degree in finance, accounting, human resource, or business management.
You can also look at pursuing a master’s degree in the above-mentioned disciplines if you want to climb up the corporate ladder in the payroll management field. Another pathway to get there would be to start with a bachelor’s degree and pursue shorter diplomas and certificate programs in payroll management.
Payroll management can be a satisfactory career path if you excel at management and financial accounting. Start searching for appropriate payroll management courses near you to pick this dynamic career path.