If you’re currently responsible for processing payroll, do not have formal payroll training and are not certified, you may wonder if you should take the time to do so.
Should you pursue Payroll Certification?
Certification is the foundation for your career in payroll while you help your employer be compliant throughout the annual payroll cycle. Payroll is complicated, with very little room for error. With changing provincial and federal tax and regulatory requirements, there is a lot for you as a payroll specialist to know. Even a small misunderstanding of regulatory procedures can have major repercussions that can be costly for the company and for the employee. Everyone’s human, mistakes do happen, but knowing how to avoid making mistakes in the first place can be a huge time and cost saver.
Does Certification Pay?
It pays for both employees and employers. According to the Canadian Payroll Association, research from recruiters shows that certified payroll professionals earn more than their non-certified counter-parts. Employers know the importance of hiring a Payroll Compliance Practitioner (PCP) or Certified Payroll Manager (CPM), knowing that they have received certification training and have a demonstrated understanding of payroll processes.
What does a Payroll Administrator in Canada Earn?
Hays Canada’s 2017 Payroll Salary Guide shows that a Certified Payroll Coordinator/Administrator who has 3 to 5 years of experience typically earns between $60,000 and $64,999 annually while non-certified payroll administrators with the same level of experience earn between $50,000 and $59,000. For more info, visit The Canadian Payroll Association.
Where can I find a payroll course?
Here is a list of several colleges that offer payroll courses where you can begin your training to become a payroll professional.