Average Accountants and Auditors Salary in Illinois
Accountants and Auditors in Illinois earn an average annual salary of $88,160, which is slightly below the national average of $94,430. This difference can be attributed to a variety of factors, including the state's specific economic landscape, industry demand, and the overall cost of living, which influences compensation benchmarks.
Executive Summary
- Average Salary: $88,160 per year.
- Growth Trend: Salaries have shifted 14.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $132,080.
- Outlook: With a substantial local workforce of 54,690 individuals in accounting and auditing roles, Illinois demonstrates a significant presence in this sector. The location quotient of 0.96 suggests that the concentration of these professionals in Illinois is nearly on par with the national average, indicating a stable and robust job market with consistent demand for their expertise.
Salary Overview
The average Accountants and Auditors in Illinois earns-6.6%below the national average.
$42.4
$1,695
$7,347
Accountants and Auditors Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the demand for skilled Accountants and Auditors in Illinois has seen steady growth over the past four years, mirroring national trends. This sustained demand likely translates to a gradual increase in average salaries, reflecting the evolving needs of businesses and the increasing complexity of financial regulations.
Accountants and Auditors Salary Distribution in Illinois
Career progression for Accountants and Auditors in Illinois typically involves a significant salary increase with experience. Entry-level positions may start at a lower percentile, but as professionals gain expertise and move into senior or specialized roles, their earning potential expands considerably. The widening gap between salary percentiles clearly signifies opportunities for career advancement and higher compensation.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $51,690 | $24.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $66,120 | $31.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $79,300 | $38.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $110,200 | $53 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $132,080 | $63.5 |
Detailed Accountants and Auditors Market Analysis
Relocation Context
Nominal Salary
$88,160
Gross Pay
Real Wage (Purchasing Power)
$96,035
Adjusted for COL (91.8)
The average annual salary of $88,160 in Illinois presents a favorable financial picture when considered against the state's Cost of Living Index of 91.8. Since this index is below the national average of 100, the nominal salary offers a relatively higher purchasing power for residents, making the effective take-home value of their earnings more substantial than the raw salary figure might suggest.
Job Market Context
54,690
Total Jobs
9.017
Per 1K Jobs
0.96
Location Quotient
Illinois has 0.96x the national average concentration of Accountants and Auditors jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
Illinois's location quotient of 0.96 for Accountants and Auditors indicates a job market that is closely aligned with the national concentration of these professionals. This suggests a competitive yet balanced environment where demand and supply are relatively stable, offering ample opportunities for qualified individuals without being oversaturated.
Nearby Job Markets
Nearby Cities for Accountants and Auditors
| City | Salary | Dist. |
|---|---|---|
| Bloomington, IL Accountants and Auditors Salary | $80,040↓ 9% | 9 mi |
| Decatur, IL Accountants and Auditors Salary | $87,470↓ 1% | 34 mi |
| Champaign-Urbana, IL Accountants and Auditors Salary | $70,530↓ 20% | 41 mi |
| Peoria, IL Accountants and Auditors Salary | $79,030↓ 10% | 43 mi |
| Springfield, IL Accountants and Auditors Salary | $88,730↑ 1% | 53 mi |
Comparing salaries near Illinois
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Frequently Asked Questions
How much does a Accountants and Auditors make in Illinois?
The median annual salary for a Accountants and Auditors in Illinois is $88,160. This typically ranges from $51,690 for entry-level positions to $132,080 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Illinois is 6.6% lower than the national median of $94,430.
Is Illinois a lucrative place for Accountants and Auditorss?
Yes, with a caveat.Illinois offers a competitive salary of $88,160, which, combined with a cost of living below the national average, provides good earning potential. The robust workforce size also indicates consistent demand for these professionals.
Is Illinois a good place to live for Accountants and Auditors?
With a Cost of Living Index of 91.8 (lower than the national average of 100), your salary goes further here.
Where are the highest paying cities near Illinois?
Some top paying nearby cities include Bloomington, IL ($80,040) and Decatur, IL.
How does Illinois compare to the national average salary for Accountants and Auditors?
Accountants and Auditors in Illinois earn an average of $88,160 annually, which is approximately $6,270 less than the national average of $94,430.
What is the concentration of Accountants and Auditors in Illinois compared to the rest of the US?
Illinois has a location quotient of 0.96 for Accountants and Auditors, meaning the concentration of these jobs is very close to the national average.
How does the cost of living in Illinois affect the salary of an Accountant?
With a Cost of Living Index of 91.8, Illinois is more affordable than the national average, meaning the $88,160 salary has greater purchasing power locally.
How many Accountants and Auditors are employed in Illinois?
There are approximately 54,690 Accountants and Auditors working in Illinois, representing 9.017 jobs per 1,000 workers in the state.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 54,690 employees in the Illinois area with a job density of 9.017 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 Illinois