Average Accountants and Auditors Salary in Peoria, IL
Accountants and Auditors in Peoria, IL earn an average annual salary of $79,030, which is notably below the national average of $94,430. This difference in compensation can be attributed to a variety of local economic factors, including the specific industry demands and the overall economic landscape of the region. While the nominal salary is lower, understanding the local cost of living is crucial for a complete financial picture.
Executive Summary
- Average Salary: $79,030 per year.
- Growth Trend: Salaries have shifted 1.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $116,270.
- Outlook: With a local workforce of 1,210 Accountants and Auditors, Peoria presents a stable, albeit not exceptionally concentrated, job market for these professionals. The location quotient of 0.78 suggests that the concentration of these roles is slightly below the national average, indicating a moderate demand that is not oversaturated. The presence of over a thousand professionals in this field points to an established professional community and ongoing opportunities.
Salary Overview
The average Accountants and Auditors in Peoria, IL earns-16.3%below the national average.
$38
$1,520
$6,586
Accountants and Auditors Salary Trends (2020-2024)
While specific historical data for Peoria's Accountants and Auditors is not provided, it is reasonable to assume a general trend of salary growth mirroring national patterns over the past four years. Economic recovery and evolving business needs typically drive increases in demand and compensation for essential financial roles, suggesting that local salaries have likely seen incremental improvements.
Accountants and Auditors Salary Distribution in Peoria, IL
The salary spectrum for Accountants and Auditors in Peoria, IL, naturally widens with experience. Entry-level positions typically start at the lower end of the pay scale, while senior roles, requiring extensive expertise and a proven track record, command significantly higher salaries. The percentile gaps between entry-level, mid-career, and senior professionals are indicative of clear career progression pathways and the increasing value placed on seasoned financial experts.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $48,260 | $23.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $59,273 | $28.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $75,140 | $36.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $98,788 | $47.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $116,270 | $55.9 |
Detailed Accountants and Auditors Market Analysis
Relocation Context
Nominal Salary
$79,030
Gross Pay
Real Wage (Purchasing Power)
$79,030
Adjusted for COL (100)
The average annual salary of $79,030 in Peoria, IL, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of an Accountant and Auditor's salary in Peoria is equivalent to the national average. While the nominal salary is lower than the national average, the cost of living being at par suggests that the real value of the income is maintained relative to national standards.
Job Market Context
1,210
Total Jobs
7.301
Per 1K Jobs
0.78
Location Quotient
Peoria, IL has 0.78x 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.
The Location Quotient (LQ) of 0.78 for Accountants and Auditors in Peoria, IL, indicates that this profession is less concentrated in the local job market compared to the national average. An LQ below 1.0 suggests that while the profession is present and necessary, it is not a dominant industry sector within the region. This implies a moderately competitive market where professionals may find a steady, but not overwhelming, number of opportunities.
Nearby Job Markets
Nearby Cities for Accountants and Auditors
| City | Salary | Dist. |
|---|---|---|
| Bloomington, IL Accountants and Auditors Salary | $80,040↑ 1% | 39 mi |
| West Central Illinois nonmetropolitan area Accountants and Auditors Salary | $70,900↓ 10% | 43 mi |
| East Central Illinois nonmetropolitan area Accountants and Auditors Salary | $71,080↓ 10% | 43 mi |
| Northwest Illinois nonmetropolitan area Accountants and Auditors Salary | $68,420↓ 13% | 43 mi |
| South Illinois nonmetropolitan area Accountants and Auditors Salary | $70,190↓ 11% | 43 mi |
Comparing salaries near Peoria, IL
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Frequently Asked Questions
How much does a Accountants and Auditors make in Peoria, IL?
The median annual salary for a Accountants and Auditors in Peoria, IL is $79,030. This typically ranges from $48,260 for entry-level positions to $116,270 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Peoria, IL is 16.3% lower than the national median of $94,430.
Is Peoria, IL a lucrative place for Accountants and Auditors?
No, not exceptionally lucrative compared to the national average.While the cost of living is at the national average, the average salary of $79,030 is significantly lower than the national average of $94,430. This suggests that Peoria offers a standard cost of living but below-average compensation for this role.
Is Peoria, IL a good place to live for Accountants and Auditors?
The Cost of Living Index in Peoria, IL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Peoria, IL?
Some top paying nearby cities include Bloomington, IL ($80,040) and West Central Illinois nonmetropolitan area.
What is the average salary for Accountants and Auditors in Peoria, IL?
The average annual salary for Accountants and Auditors in Peoria, IL is $79,030.
How does Peoria's cost of living compare to the national average?
Peoria's cost of living is exactly at the national average, with an index of 100.
Is the job market for Accountants and Auditors in Peoria competitive?
With a Location Quotient of 0.78, the market is less concentrated than the national average, suggesting moderate competition and a stable demand.
How many Accountants and Auditors are there in Peoria, IL?
There are approximately 1,210 Accountants and Auditors working in Peoria, IL.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,210 employees in the Peoria, IL area with a job density of 7.301 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 Peoria, IL