Pros
The payroll specialist position, being that it's entry-level, is a great place to start if you have little industry knowledge/education. You are given all the tools that you need to do your job, and become that much more marketable in the workforce. From what I've seen, the starting salary is not as great as what you may find with other companies, but there is a ton of room for advancement (if that's what you're interested in) and monetary incentive for furthering your industry knowledge. Plus, the benefits are great and the work environment is very supportive and familial.
Cons
There are certain times that are somewhat stressful, and there is no time off granted in December and January. Over-time is not allowed, but sometimes it feels like working over-time would be the only way possible to complete all of your work.