Payroll specialist vs paymaster

The differences between payroll specialists and paymasters can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a payroll specialist and a paymaster. Additionally, a paymaster has an average salary of $69,234, which is higher than the $46,462 average annual salary of a payroll specialist.

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

Payroll specialist vs paymaster overview

	Payroll Specialist	Paymaster
Yearly salary	$46,462	$69,234
Hourly rate	$22.34	$33.29
Growth rate	-3%	-3%
Number of jobs	6,609	668
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 48%	Bachelor's Degree, 57%
Average age	48	48
Years of experience	4	4

Payroll specialist vs paymaster salary

Payroll specialists and paymasters have different pay scales, as shown below.

	Payroll Specialist	Paymaster
Average salary	$46,462	$69,234
Salary range	Between $34,000 And $61,000	Between $41,000 And $115,000
Highest paying City	Washington, DC	-
Highest paying state	Connecticut	-
Best paying company	Cambridge Associates	-
Best paying industry	Technology	-

Differences between payroll specialist and paymaster education

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

	Payroll Specialist	Paymaster
Most common degree	Bachelor's Degree, 48%	Bachelor's Degree, 57%
Most common major	Business	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Payroll specialist vs paymaster demographics

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

	Payroll Specialist	Paymaster
Average age	48	48
Gender ratio	Male, 17.3% Female, 82.7%	Male, 27.8% Female, 72.2%
Race ratio	Black or African American, 9.8% Unknown, 6.1% Hispanic or Latino, 18.2% Asian, 6.0% White, 58.5% American Indian and Alaska Native, 1.5%	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%
LGBT Percentage	10%	10%

Differences between payroll specialist and paymaster duties and responsibilities

Payroll specialist example responsibilities.

Manage a bi-weekly payroll in accordance with establish processes, including auditing timekeeping records for compliance with establish standards and policies.
Handle all FMLA, insurance, employee benefits and processing the payroll on bi-weekly bases through the KRONOS timekeeping system.
Utilize KRONOS for timekeeping and to administer security access.
Prepare payroll journal entry and provide guidance in general ledger reconciliations pertaining to payroll general ledger accounts and labor expense distribution
Establish new hires in the KRONOS timekeeping system and provide guidance and assistance to associates to communicate their responsibilities regarding payroll/timekeeping.
Input employee data into Lawson payroll program while using the utmost integrity to keep information confidential.

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 specialist vs paymaster skills

Common payroll specialist skills

Customer Service, 13%
Data Entry, 7%
Payroll Data, 5%
Human Resources, 4%
ADP Workforce, 4%
Kronos, 3%

Common paymaster skills

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