Average Bill and Account Collectors Salary in Chicago-Naperville-Elgin, IL-IN
Bill and Account Collectors in the Chicago-Naperville-Elgin, IL-IN metropolitan area earn an average annual salary of $50,710, surpassing the national average of $48,000. This higher compensation reflects the unique economic dynamics and demand within this significant urban hub, influencing local wage structures for this profession.
Executive Summary
- Average Salary: $50,710 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $63,980.
- Outlook: With a local workforce of 3,280 Bill and Account Collectors, the Chicago-Naperville-Elgin area demonstrates a substantial presence in this sector. The Location Quotient of 0.68 suggests a slightly lower concentration compared to the national average, indicating a stable but not overly saturated job market, which can be favorable for job seekers.
Salary Overview
The average Bill and Account Collectors in Chicago-Naperville-Elgin, IL-IN earns+5.6%above the national average.
$24.4
$975
$4,226
Bill and Account Collectors Salary Trends (2020-2024)
While specific historical data is not provided, it is generally observed that salaries for Bill and Account Collectors, like many professions, have experienced steady growth over the past four years. This trend is typically driven by inflation, evolving industry demands, and the increasing complexity of financial regulations, leading to a gradual upward adjustment in compensation.
Bill and Account Collectors Salary Distribution in Chicago-Naperville-Elgin, IL-IN
The career trajectory for Bill and Account Collectors typically involves salary increases with experience. Entry-level positions may start at the lower end of the pay scale, while seasoned professionals with specialized skills or supervisory responsibilities can command significantly higher salaries. The percentile gaps in earnings clearly signify opportunities for career progression and increased earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $36,000 | $17.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $38,033 | $18.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $48,330 | $23.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $63,388 | $30.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $63,980 | $30.8 |
Detailed Bill and Account Collectors Market Analysis
Relocation Context
Nominal Salary
$50,710
Gross Pay
Real Wage (Purchasing Power)
$50,710
Adjusted for COL (100)
The average annual salary of $50,710 in Chicago-Naperville-Elgin, IL-IN aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of a Bill and Account Collector's salary in this region is equivalent to the national standard, offering a balanced financial landscape for residents.
Job Market Context
3,280
Total Jobs
0.732
Per 1K Jobs
0.68
Location Quotient
Chicago-Naperville-Elgin, IL-IN has 0.68x the national average concentration of Bill and Account Collectors jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
A Location Quotient of 0.68 indicates that Bill and Account Collectors are present in the Chicago-Naperville-Elgin, IL-IN area at a rate slightly below the national average. This suggests that while the profession is established, the market is not as densely concentrated as in some other regions, potentially offering a competitive environment for skilled individuals seeking employment.
Nearby Job Markets
Nearby Cities for Bill and Account Collectors
| City | Salary | Dist. |
|---|---|---|
| Michigan City-La Porte, IN Bill and Account Collectors Salary | $35,950↓ 29% | 41 mi |
| Racine-Mount Pleasant, WI Bill and Account Collectors Salary | $59,260↑ 17% | 59 mi |
Comparing salaries near Chicago-Naperville-Elgin, IL-IN
Hiring Bill and Account Collectorss?
Frequently Asked Questions
How much does a Bill and Account Collectors make in Chicago-Naperville-Elgin, IL-IN?
The median annual salary for a Bill and Account Collectors in Chicago-Naperville-Elgin, IL-IN is $50,710. This typically ranges from $36,000 for entry-level positions to $63,980 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 5.6% higher than the national median of $48,000.
Is Chicago-Naperville-Elgin, IL-IN a lucrative place for Bill and Account Collectors?
Yes, it offers a slightly above-average earning potential.The average salary of $50,710 is higher than the national average, and the cost of living is on par with the national average, making it a financially favorable location.
Is Chicago-Naperville-Elgin, IL-IN a good place to live for Bill and Account Collectors?
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 ($35,950) and Racine-Mount Pleasant, WI.
How does the Chicago-Naperville-Elgin salary compare to the national average?
The average annual salary for Bill and Account Collectors in Chicago-Naperville-Elgin, IL-IN is $50,710, which is higher than the national average of $48,000.
What is the concentration of Bill and Account Collectors in this area?
The concentration, measured by the Location Quotient, is 0.68, indicating a slightly lower presence of this profession compared to the national average.
How does the cost of living affect the salary in Chicago-Naperville-Elgin, IL-IN?
The Cost of Living Index is 100, which is the national average. Therefore, the nominal salary of $50,710 has the same purchasing power as the national average salary.
What does the number of jobs per 1,000 workers signify?
With 0.732 jobs per 1,000 workers, it indicates the prevalence of Bill and Account Collector roles within the overall workforce of the Chicago-Naperville-Elgin, IL-IN area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 3,280 employees in the Chicago-Naperville-Elgin, IL-IN area with a job density of 0.732 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Bill and Account Collectors • Data source: BLS OEWS 2024 •Jobs in Chicago-Naperville-Elgin, IL-IN