Average Accountants and Auditors Salary in Chicago-Naperville-Elgin, IL-IN
Accountants and Auditors in the Chicago-Naperville-Elgin, IL-IN metropolitan area earn an average annual salary of $92,100. This figure is slightly below the national average of $94,430, indicating a competitive but not exceptionally high pay scale for the region. Local economic factors, industry demand, and the cost of doing business within this major metropolitan hub likely influence this compensation.
Executive Summary
- Average Salary: $92,100 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $136,490.
- Outlook: The Chicago-Naperville-Elgin area boasts a substantial workforce of 41,860 Accountants and Auditors, with a jobs-per-1,000-workers ratio of 9.357. This indicates a significant presence and consistent demand for accounting professionals within the region, suggesting a robust job market for those in the field.
Salary Overview
The average Accountants and Auditors in Chicago-Naperville-Elgin, IL-IN earns-2.5%below the national average.
$44.3
$1,771
$7,675
Accountants and Auditors Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that the demand for skilled Accountants and Auditors has seen steady growth over the past four years, mirroring national trends. This sustained demand typically translates into incremental salary increases as businesses continue to rely on financial expertise for compliance, strategy, and operational efficiency.
Accountants and Auditors Salary Distribution in Chicago-Naperville-Elgin, IL-IN
Salary progression for Accountants and Auditors in Chicago-Naperville-Elgin, IL-IN typically scales with experience. Entry-level positions may start at a lower percentile, while seasoned professionals with specialized skills and extensive experience can command salaries in the higher percentiles. The widening gap between entry-level and senior roles signifies clear career advancement opportunities and increased earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $58,080 | $27.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $69,075 | $33.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $81,210 | $39 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $115,125 | $55.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $136,490 | $65.6 |
Detailed Accountants and Auditors Market Analysis
Relocation Context
Nominal Salary
$92,100
Gross Pay
Real Wage (Purchasing Power)
$92,100
Adjusted for COL (100)
With an average annual salary of $92,100 and a Cost of Living Index of 100, the nominal income for Accountants and Auditors in Chicago-Naperville-Elgin, IL-IN aligns precisely with the national average cost of living. This means that the purchasing power of the salary is equivalent to the national average, offering a stable financial standing relative to typical expenses.
Job Market Context
41,860
Total Jobs
9.357
Per 1K Jobs
1
Location Quotient
With a location quotient of 1.00, Chicago-Naperville-Elgin, IL-IN has a slightly higher-than-average concentration of Accountants and Auditors roles compared to the national norm.
A Location Quotient of 1 for Accountants and Auditors in Chicago-Naperville-Elgin, IL-IN signifies that the concentration of these professionals is exactly in line with the national average. This suggests a balanced market where the supply of accounting talent closely matches the demand, neither indicating an oversupply nor a significant shortage of professionals.
Nearby Job Markets
Nearby Cities for Accountants and Auditors
| City | Salary | Dist. |
|---|---|---|
| Michigan City-La Porte, IN Accountants and Auditors Salary | $77,800↓ 16% | 41 mi |
| Kenosha, WI Accountants and Auditors Salary | $85,940↓ 7% | 51 mi |
| Kankakee, IL Accountants and Auditors Salary | $70,870↓ 23% | 55 mi |
| Racine-Mount Pleasant, WI Accountants and Auditors Salary | $84,600↓ 8% | 59 mi |
| Niles, MI Accountants and Auditors Salary | $80,750↓ 12% | 71 mi |
Comparing salaries near Chicago-Naperville-Elgin, IL-IN
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Frequently Asked Questions
How much does a Accountants and Auditors make in Chicago-Naperville-Elgin, IL-IN?
The median annual salary for a Accountants and Auditors in Chicago-Naperville-Elgin, IL-IN is $92,100. This typically ranges from $58,080 for entry-level positions to $136,490 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Chicago-Naperville-Elgin, IL-IN is 2.5% lower than the national median of $94,430.
Is Chicago-Naperville-Elgin, IL-IN a lucrative place for Accountants and Auditors?
Yes, it offers competitive compensation and a stable job market.The average salary of $92,100 is strong, and the cost of living being at the national average means good purchasing power. The robust workforce size indicates consistent demand for these roles.
Is Chicago-Naperville-Elgin, IL-IN a good place to live for Accountants and Auditors?
The Cost of Living Index in Chicago-Naperville-Elgin, IL-IN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Chicago-Naperville-Elgin, IL-IN?
Some top paying nearby cities include Michigan City-La Porte, IN ($77,800) and Kenosha, WI.
How does the Chicago Accountant salary compare to the national average?
The average annual salary for Accountants and Auditors in Chicago-Naperville-Elgin, IL-IN is $92,100, which is slightly below the national average of $94,430.
What is the job market like for Accountants and Auditors in Chicago?
The job market is robust, with a significant local workforce of 41,860 and a healthy jobs-per-1,000-workers ratio, indicating consistent demand.
Does experience impact salary for Accountants and Auditors in Chicago?
Yes, experience significantly impacts salary, with entry-level positions earning less than senior roles, reflecting clear career progression and higher earning potential.
Is the cost of living high for Accountants and Auditors in Chicago?
The cost of living in Chicago-Naperville-Elgin, IL-IN is at the national average (100), meaning the $92,100 salary offers purchasing power equivalent to the national average.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 41,860 employees in the Chicago-Naperville-Elgin, IL-IN area with a job density of 9.357 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Accountants and Auditors • Data source: BLS OEWS 2024 •Jobs in Chicago-Naperville-Elgin, IL-IN