Wave Payroll vs Workday
A head-to-head comparison to help you pick the right tool
Last updated: April 30, 2026
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.
Workday
Workday is an enterprise-grade HCM platform used by large organizations worldwide. It covers HR, payroll, finance, and planning in a deeply integrated suite. Workday is the gold standard for enterprise HR but requires significant implementation resources and budget.
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
Pros
- ✓Extremely powerful and configurable for complex enterprise needs
- ✓Best-in-class financial and workforce planning tools
- ✓Strong compliance and audit capabilities
- ✓Extensive global payroll coverage
Cons
- ✗Very expensive with long implementation timelines of 6-12 months
- ✗Overkill and unaffordable for companies under 500 employees
- ✗UI can feel dated and complex for everyday users
Wave Payroll vs Workday: Side by Side
| Factor | Wave Payroll | Workday |
|---|---|---|
| User Rating | N/A | N/A |
| Category | Payroll Software | HR Software |
| Pricing Model | Paid | Paid |
| Starting Price | $20/mo + $6/person | $34/user/mo |
| Best For | Micro-businesses already using Wave accounting that want simple integrated payroll | Large enterprises with 500+ employees |
| Our Pick | — | — |
Wave Payroll Features
- ✓Payroll processing
- ✓direct deposit
- ✓tax payments and filings
- ✓W-2 and 1099 preparation
- ✓Wave accounting integration
- ✓employee self-service
Workday Features
- ✓HR
- ✓payroll
- ✓finance
- ✓planning
- ✓analytics
- ✓learning management
Pricing Comparison
Our Take
Choose Wave Payroll if micro-businesses already using wave accounting that want simple integrated payroll. Choose Workday if large enterprises with 500+ employees.
Best For
Micro-businesses already using Wave accounting that want simple integrated payroll
Best For
Large enterprises with 500+ employees
Also Consider
If neither Wave Payroll nor Workday is the right fit, Multiplier is worth evaluating.
Multiplier
Startups and SMBs hiring internationally on a budget
From $40/contractor/mo
Frequently Asked Questions
What is the difference between Wave Payroll and Workday?
Wave Payroll is best for micro-businesses already using wave accounting that want simple integrated payroll. Workday is best for large enterprises with 500+ employees.
Which is better, Wave Payroll or Workday?
Choose Wave Payroll if micro-businesses already using wave accounting that want simple integrated payroll. Choose Workday if large enterprises with 500+ employees.
How much does Wave Payroll cost?
Wave Payroll starts at $20/mo + $6/person. Pricing model: Paid.
How much does Workday cost?
Workday starts at $34/user/mo. Pricing model: Paid.
Who should use Wave Payroll?
Micro-businesses already using Wave accounting that want simple integrated payroll
Who should use Workday?
Large enterprises with 500+ employees