Paylocity vs Wave Payroll
A head-to-head comparison to help you pick the right tool
Last updated: April 30, 2026
Paylocity
Paylocity is a modern HR and payroll platform designed for mid-market businesses. It combines payroll processing with employee engagement tools, learning management, and workforce analytics. Paylocity stands out for its strong mobile experience and focus on building connected, engaged workplaces.
Wave Payroll
Wave Payroll is a simple payroll solution built into the Wave accounting ecosystem. It is designed for very small businesses that already use Wave for accounting and want an integrated payroll solution. Wave Payroll handles direct deposit, tax payments, and W-2s, making it a natural choice for businesses already in the Wave ecosystem.
Pros
- ✓Strong employee engagement and communication tools
- ✓Excellent mobile app for both managers and employees
- ✓Modern UI with good user adoption rates
- ✓Robust payroll with strong compliance features
Cons
- ✗Pricing requires a sales call and is not published online
- ✗Implementation can be complex for larger organizations
- ✗Some advanced features require additional modules at extra cost
Pros
- ✓Seamlessly integrates with Wave accounting — no manual data transfer needed
- ✓Very affordable pricing for micro-businesses
- ✓Simple interface with minimal setup required
- ✓Free Wave accounting included with subscription
Cons
- ✗Limited features compared to dedicated payroll platforms
- ✗Tax filing is only automatic in select states — manual filing required in others
- ✗No mobile payroll app
- ✗Not suitable for businesses with complex payroll needs
Paylocity vs Wave Payroll: Side by Side
| Factor | Paylocity | Wave Payroll |
|---|---|---|
| User Rating | N/A | N/A |
| Category | HR Software | Payroll Software |
| Pricing Model | Paid | Paid |
| Starting Price | Custom pricing | $20/mo + $6/person |
| Best For | Mid-market businesses with 20-1000 employees | Micro-businesses already using Wave accounting that want simple integrated payroll |
| Our Pick | — | — |
Paylocity Features
- ✓Payroll
- ✓benefits
- ✓talent management
- ✓workforce management
- ✓analytics
- ✓employee self-service
Wave Payroll Features
- ✓Payroll processing
- ✓direct deposit
- ✓tax payments and filings
- ✓W-2 and 1099 preparation
- ✓Wave accounting integration
- ✓employee self-service
Pricing Comparison
Our Take
Choose Paylocity if mid-market businesses with 20-1000 employees. Choose Wave Payroll if micro-businesses already using wave accounting that want simple integrated payroll.
Best For
Mid-market businesses with 20-1000 employees
Best For
Micro-businesses already using Wave accounting that want simple integrated payroll
Also Consider
If neither Paylocity nor Wave Payroll is the right fit, Justworks is worth evaluating.
Justworks
Small businesses wanting Fortune 500 benefits
From $59/employee/mo
Frequently Asked Questions
What is the difference between Paylocity and Wave Payroll?
Paylocity is best for mid-market businesses with 20-1000 employees. Wave Payroll is best for micro-businesses already using wave accounting that want simple integrated payroll.
Which is better, Paylocity or Wave Payroll?
Choose Paylocity if mid-market businesses with 20-1000 employees. Choose Wave Payroll if micro-businesses already using wave accounting that want simple integrated payroll.
How much does Paylocity cost?
Paylocity starts at Custom pricing. Pricing model: Paid.
How much does Wave Payroll cost?
Wave Payroll starts at $20/mo + $6/person. Pricing model: Paid.
Who should use Paylocity?
Mid-market businesses with 20-1000 employees
Who should use Wave Payroll?
Micro-businesses already using Wave accounting that want simple integrated payroll