Average Accountants and Auditors Salary in Springfield, IL
Accountants and Auditors in Springfield, IL, earn an average annual salary of $88,730. This figure is slightly below the national average of $94,430, suggesting that while the demand is present, local economic factors or industry mix may influence compensation levels compared to broader national trends.
Executive Summary
- Average Salary: $88,730 per year.
- Growth Trend: Salaries have shifted 23.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $134,390.
- Outlook: With a local workforce of 1,580 Accountants and Auditors, Springfield, IL, demonstrates a significant presence in this profession. The Location Quotient of 1.64 indicates a concentration of these roles that is 64% higher than the national average, signaling a robust and potentially growing demand for accounting and auditing services within the region.
Salary Overview
The average Accountants and Auditors in Springfield, IL earns-6.0%below the national average.
$42.7
$1,706
$7,394
Accountants and Auditors Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the salary for Accountants and Auditors in Springfield, IL, has experienced growth over the past four years, mirroring national trends. Economic recovery, increased regulatory complexity, and a steady demand for financial expertise typically drive upward salary adjustments in this sector.
Accountants and Auditors Salary Distribution in Springfield, IL
Salary progression for Accountants and Auditors in Springfield, IL, typically scales with experience. Entry-level positions may start at the lower end of the pay scale, while senior roles, those with specialized certifications, or those in management positions can command significantly higher salaries. The widening gap between entry-level and senior percentile salaries reflects clear opportunities for career advancement and increased earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $53,010 | $25.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $66,548 | $32 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $83,970 | $40.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $110,913 | $53.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $134,390 | $64.6 |
Detailed Accountants and Auditors Market Analysis
Relocation Context
Nominal Salary
$88,730
Gross Pay
Real Wage (Purchasing Power)
$88,730
Adjusted for COL (100)
The nominal average salary of $88,730 in Springfield, IL, aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of an Accountant's salary in Springfield is equivalent to the national average, offering a stable financial environment for residents.
Job Market Context
1,580
Total Jobs
15.375
Per 1K Jobs
1.64
Location Quotient
Springfield, IL has 1.6x the national concentration of Accountants and Auditors jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
The Location Quotient of 1.64 for Accountants and Auditors in Springfield, IL, signifies a market where this profession is more concentrated than the national average. This suggests a strong local demand and a potentially competitive environment for both employers seeking talent and professionals looking for opportunities.
Nearby Job Markets
Nearby Cities for Accountants and Auditors
| City | Salary | Dist. |
|---|---|---|
| Decatur, IL Accountants and Auditors Salary | $87,470↓ 1% | 39 mi |
| West Central Illinois nonmetropolitan area Accountants and Auditors Salary | $70,900↓ 20% | 53 mi |
| East Central Illinois nonmetropolitan area Accountants and Auditors Salary | $71,080↓ 20% | 53 mi |
| Northwest Illinois nonmetropolitan area Accountants and Auditors Salary | $68,420↓ 23% | 53 mi |
| South Illinois nonmetropolitan area Accountants and Auditors Salary | $70,190↓ 21% | 53 mi |
Comparing salaries near Springfield, IL
Hiring Accountants and Auditorss?
Frequently Asked Questions
How much does a Accountants and Auditors make in Springfield, IL?
The median annual salary for a Accountants and Auditors in Springfield, IL is $88,730. This typically ranges from $53,010 for entry-level positions to $134,390 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Springfield, IL is 6.0% lower than the national median of $94,430.
Is Springfield, IL a lucrative place for Accountants and Auditors?
Yes, with a stable cost of living.While the average salary is slightly below the national average, the strong concentration of roles (LQ 1.64) and a Cost of Living Index at the national average (100) create a balanced and potentially lucrative environment for Accountants and Auditors.
Is Springfield, IL a good place to live for Accountants and Auditors?
The Cost of Living Index in Springfield, IL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Springfield, IL?
Some top paying nearby cities include Decatur, IL ($87,470) and West Central Illinois nonmetropolitan area.
How does the number of jobs per 1,000 workers compare nationally?
Springfield, IL has 15.375 jobs per 1,000 workers for Accountants and Auditors, which is higher than the national average, indicating a greater prevalence of these roles locally.
What is the significance of the Location Quotient (LQ) for this role in Springfield?
An LQ of 1.64 means that Accountants and Auditors are 64% more concentrated in Springfield, IL, than in the average U.S. location, suggesting higher demand or a specialized industry presence.
How does the cost of living in Springfield, IL affect the salary?
With a Cost of Living Index of 100, Springfield's cost of living is exactly at the national average. This means the $88,730 salary has the same purchasing power as the national average salary.
What is the total number of Accountants and Auditors in Springfield, IL?
There are approximately 1,580 Accountants and Auditors employed in Springfield, IL, contributing to the local economy and financial sector.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,580 employees in the Springfield, IL area with a job density of 15.375 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 Springfield, IL