Paymaster vs payroll processor

The differences between paymasters and payroll processors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a paymaster and a payroll processor. Additionally, a paymaster has an average salary of $69,234, which is higher than the $44,307 average annual salary of a payroll processor.

The top three skills for a paymaster include ADP, payroll processing and payroll system. The most important skills for a payroll processor are customer service, data entry, and ADP.

Paymaster vs payroll processor overview

	Paymaster	Payroll Processor
Yearly salary	$69,234	$44,307
Hourly rate	$33.29	$21.30
Growth rate	-3%	-3%
Number of jobs	668	11,795
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 57%	Bachelor's Degree, 44%
Average age	48	48
Years of experience	4	4

Paymaster vs payroll processor salary

Paymasters and payroll processors have different pay scales, as shown below.

	Paymaster	Payroll Processor
Average salary	$69,234	$44,307
Salary range	Between $41,000 And $115,000	Between $33,000 And $58,000
Highest paying City	-	San Francisco, CA
Highest paying state	-	New Jersey
Best paying company	-	Venable
Best paying industry	-	Finance

Differences between paymaster and payroll processor education

There are a few differences between a paymaster and a payroll processor in terms of educational background:

	Paymaster	Payroll Processor
Most common degree	Bachelor's Degree, 57%	Bachelor's Degree, 44%
Most common major	Accounting	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Paymaster vs payroll processor demographics

Here are the differences between paymasters' and payroll processors' demographics:

	Paymaster	Payroll Processor
Average age	48	48
Gender ratio	Male, 27.8% Female, 72.2%	Male, 16.1% Female, 83.9%
Race ratio	Black or African American, 8.9% Unknown, 6.1% Hispanic or Latino, 18.9% Asian, 6.1% White, 58.5% American Indian and Alaska Native, 1.5%	Black or African American, 9.6% Unknown, 6.1% Hispanic or Latino, 18.2% Asian, 6.0% White, 58.6% American Indian and Alaska Native, 1.5%
LGBT Percentage	10%	10%

Differences between paymaster and payroll processor duties and responsibilities

Paymaster example responsibilities.

Manage annual professional liability in PeopleSoft for faculty and fellows.
Assist in month end process including accruals and payroll journals.
Create and maintain record of expenses and payments, assisting in the preparation of various reports and reconciliations.
Perform monthly balance sheet account reconciliations including bank and payroll reconciliations.
Maintain detailed records of employment, and provide spreadsheets/data of all payroll functions-for audit purposes in accordance with statutory requirements.
Create new inventory/non-inventory items in QuickBooks accounting system and tracks supplies accurately.

Payroll processor example responsibilities.

Manage PTO and cafeteria benefits program.
Assist KRONOS editors as need in the KRONOS timekeeping system.
Input, verify and correct time records using the KRONOS and Lawson software.
Test new software upgrades to payroll HRIS system before implementing to payroll team.
Process, balance and facilitate the transmission of incoming and outgoing ACH files.
Input hours into PeopleSoft and balance batches for assign pay groups according to establish schedule.

Paymaster vs payroll processor skills

Common paymaster skills

ADP, 11%
Payroll Processing, 11%
Payroll System, 10%
Accruals, 9%
Reconciliations, 8%
W-2, 8%

Common payroll processor skills

Customer Service, 12%
Data Entry, 9%
ADP, 5%
Payroll System, 5%
Kronos, 5%
Human Resources, 4%