Salary Information for a Payroll Analyst in Minneapolis, MN
Median salary:
This data reflects Total Cash for a Level 2 Payroll Analyst at a mid-size company. To get more detailed information on total compensation for the role of Payroll Analyst in Minneapolis, MN, including base pay, total cash, and equity by job level, region and company size, please join OpenComp.
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Behind the numbers
What is the adjusted total comp for a Payroll Analyst in Minneapolis, MN?
Total Comp (TC)
Cost of Living (COL) Index
COL-Adjusted TC
Median Home Price
68.2
Total Comp (TC)
Cost of Living (COL) Index
68.2
COL-Adjusted TC
Median Home Price
What are the responsibilities of a Payroll Analyst in Minneapolis, MN?
The Payroll Analyst is responsible for accurately processing payroll, ensuring compliance with applicable laws and regulations, maintaining employee records, analyzing payroll data, and providing support to management and employees regarding payroll-related inquiries. They must maintain confidentiality, attention to detail, manage multiple priorities, and collaborate with cross-functional teams to drive continuous improvement in payroll processes.
What are the characteristics of a level 2 Payroll Analyst?
A level 2 Payroll Analyst in Minneapolis, MN has well developed professional and technical expertise. Their work impacts the quality and timeline of part of a product or service. They typically have 3 yearas of average experience.
Payroll Analyst
Benchmark Role
Individual Contributor
Job Type
Payroll
Job Family
Business
Job Area
Quality of Life in Minneapolis, MN on a $78,000 Salary
Overview of Cost of Living
Cost Index: Minneapolis has a cost of living index slightly higher than the national average.
Major Expenses: Expenses such as housing, transportation, and healthcare are primary factors in this index.
Comparison to Income: A $78,000 annual salary generally provides a comfortable lifestyle, though it requires careful budget management for savings and discretionary spending.
Housing Market
Median Home Price: The median home price in Minneapolis is higher than the national average, making home ownership more challenging for individuals with average income.
Rental Market: Rental costs are relatively moderate, with varied options that fit different budgets and preferences.
Housing Affordability: While still competitive, finding affordable housing on a $78,000 salary is feasible, particularly in more suburban areas.
Quality of Life
Cultural Amenities: Minneapolis is rich in cultural institutions, parks, and recreational activities that enhance quality of life.
Transportation: The city offers extensive public transportation options, though having a car can be beneficial for greater mobility.
Climate Considerations: Prospective residents should prepare for long, harsh winters, which can impact lifestyle and transportation.
Access to Healthcare
Healthcare Options: The city provides robust healthcare options with several well-ranked hospitals and clinics.
Cost of Healthcare: Healthcare costs can be substantial; thus, securing good health insurance is recommended.
Quality of K-12 Schools
Public Schools: Minneapolis boasts several high-performing public schools, making it attractive for families with children.
Private and Charter Schools: There are also numerous private and charter school options available, catering to diverse educational preferences and needs.
Assessment of Living Conditions
For someone earning $78,000 annually in Minneapolis:
Livability: Generally good, with income covering essential needs and some discretionary spending or savings.
Housing: Moderate housing availability within budget constraints, with a potential focus on rentals or strategic home buying.
Access to Services: Adequate access to healthcare facilities and quality educational institutions.
Lifestyle Quality: Higher quality of life facilitated by cultural amenities and recreational opportunities, balanced by the challenges of the cost of living and weather conditions.
See salary information for the Payroll Analyst role elsewhere in the United States
OpenComp aggregates multiple data sources to provide accurate salary data for Minneapolis, MN, specifically for a Level 2 Payroll Analyst. The primary source is real-time, crowd-sourced salary information collected through direct integrations with hundreds of customer-connected HRIS platforms.
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