Average Bill and Account Collectors Salary in Illinois
Bill and Account Collectors in Illinois earn an average annual salary of $48,960, slightly exceeding the national average of $48,000. This marginal difference is often influenced by regional economic factors and the specific demands within the state's financial and service sectors. The cost of living also plays a role in shaping compensation packages for these essential roles.
Executive Summary
- Average Salary: $48,960 per year.
- Growth Trend: Salaries have shifted 17.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $63,480.
- Outlook: With a total local workforce of 4,310 Bill and Account Collectors, Illinois presents a stable employment landscape for this profession. The location quotient of 0.66 indicates a slightly lower concentration of these roles compared to the national average, suggesting a steady but not overly saturated market. This means opportunities are available without intense competition, providing a solid base for career development.
Salary Overview
The average Bill and Account Collectors in Illinois earns+2.0%above the national average.
$23.5
$942
$4,080
Bill and Account Collectors Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Bill and Account Collectors in Illinois have seen consistent growth over the past four years, mirroring national trends. Economic shifts and evolving collection strategies likely contribute to incremental increases in compensation, reflecting the ongoing demand for skilled professionals in this field.
Bill and Account Collectors Salary Distribution in Illinois
Career progression for Bill and Account Collectors typically involves a salary increase tied to experience. Entry-level positions may start at the lower end of the pay scale, while seasoned professionals with extensive experience and specialized skills can command significantly higher salaries, potentially reaching the 75th percentile or beyond. These percentile gaps highlight the substantial earning potential as one advances in their career.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $35,580 | $17.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $36,720 | $17.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $47,220 | $22.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $61,200 | $29.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $63,480 | $30.5 |
Detailed Bill and Account Collectors Market Analysis
Relocation Context
Nominal Salary
$48,960
Gross Pay
Real Wage (Purchasing Power)
$53,333
Adjusted for COL (91.8)
The average annual salary of $48,960 in Illinois is quite favorable when considering the local Cost of Living Index of 91.8. This index is below the national average of 100, meaning that the purchasing power of an Illinois resident's salary is generally higher than in a national average cost-of-living area. Therefore, the $48,960 salary offers a comfortable standard of living within the state.
Job Market Context
4,310
Total Jobs
0.711
Per 1K Jobs
0.66
Location Quotient
Illinois has 0.66x 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.
The location quotient of 0.66 for Bill and Account Collectors in Illinois suggests that the profession is less concentrated in the state compared to the national average. This indicates that while the job market is present and stable, it may not be a primary hub for this specific occupation, potentially leading to a more balanced supply and demand dynamic for skilled collectors.
Nearby Job Markets
Nearby Cities for Bill and Account Collectors
| City | Salary | Dist. |
|---|---|---|
| Bloomington, IL Bill and Account Collectors Salary | $44,860↓ 8% | 9 mi |
| Champaign-Urbana, IL Bill and Account Collectors Salary | $47,350↓ 3% | 41 mi |
| Peoria, IL Bill and Account Collectors Salary | $45,930↓ 6% | 43 mi |
| Springfield, IL Bill and Account Collectors Salary | $42,810↓ 13% | 53 mi |
Comparing salaries near Illinois
Hiring Bill and Account Collectorss?
Frequently Asked Questions
How much does a Bill and Account Collectors make in Illinois?
The median annual salary for a Bill and Account Collectors in Illinois is $48,960. This typically ranges from $35,580 for entry-level positions to $63,480 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Illinois is 2.0% higher than the national median of $48,000.
Is Illinois a lucrative place for Bill and Account Collectorss?
Yes, Illinois offers a slightly above-average salary with a lower cost of living.Bill and Account Collectors in Illinois earn more than the national average, and the state's cost of living is below the national average, enhancing the real value of their earnings.
Is Illinois a good place to live for Bill and Account Collectors?
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 ($44,860) and Champaign-Urbana, IL.
What is the average salary for a Bill and Account Collector in Illinois?
The average annual salary for a Bill and Account Collector in Illinois is $48,960.
How does the Illinois salary compare to the national average?
The average salary in Illinois ($48,960) is slightly higher than the national average ($48,000).
What is the cost of living in Illinois compared to the national average?
Illinois has a Cost of Living Index of 91.8, which is below the national average of 100.
How concentrated is the Bill and Account Collector job market in Illinois?
The job market for Bill and Account Collectors in Illinois has a location quotient of 0.66, indicating it is less concentrated than 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 4,310 employees in the Illinois area with a job density of 0.711 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 Illinois