Average Compliance Officers Salary in Illinois
Compliance Officers in Illinois earn an average annual salary of $85,040, a figure that closely mirrors the national average of $85,520. While the state's average is slightly below the national benchmark, localized economic factors and industry demands within Illinois contribute to this competitive compensation landscape. Understanding these nuances is key for professionals navigating the compliance sector in the region.
Executive Summary
- Average Salary: $85,040 per year.
- Growth Trend: Salaries have shifted 6.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $126,980.
- Outlook: With a substantial local workforce of 10,190 Compliance Officers, Illinois demonstrates a significant presence in this vital professional field. The location quotient of 0.65 suggests that while the concentration of these roles is slightly below the national average, the sheer volume of professionals indicates a stable and established job market. This robust workforce size points to consistent demand and opportunities for skilled compliance professionals within the state.
Salary Overview
The average Compliance Officers in Illinois earns-0.6%below the national average.
$40.9
$1,635
$7,087
Compliance Officers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Compliance Officers in Illinois have experienced steady growth over the past four years, aligning with national trends. Factors such as increasing regulatory complexity, evolving industry standards, and a heightened focus on corporate governance likely contribute to upward pressure on compensation, reflecting the growing importance of the compliance function.
Compliance Officers Salary Distribution in Illinois
The career trajectory for Compliance Officers in Illinois typically shows a significant salary increase with experience. Entry-level positions may start at a lower percentile, but as professionals gain expertise, navigate complex regulations, and take on greater responsibilities, their earning potential escalates considerably. The widening gap between entry-level and senior-level salaries, often reflected in percentile data, underscores the value placed on seasoned compliance professionals.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $49,210 | $23.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $63,780 | $30.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $79,350 | $38.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $106,300 | $51.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $126,980 | $61 |
Detailed Compliance Officers Market Analysis
Relocation Context
Nominal Salary
$85,040
Gross Pay
Real Wage (Purchasing Power)
$92,636
Adjusted for COL (91.8)
The average annual salary of $85,040 for Compliance Officers in Illinois presents a favorable financial standing when considered against the state's Cost of Living Index of 91.8. This index, which is below the national average of 100, indicates that the cost of goods and services in Illinois is generally more affordable than the national benchmark. Consequently, the nominal salary of $85,040 likely translates to a strong purchasing power for these professionals within the state.
Job Market Context
10,190
Total Jobs
1.679
Per 1K Jobs
0.65
Location Quotient
Illinois has 0.65x the national average concentration of Compliance Officers 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 0.65 for Compliance Officers in Illinois suggests that the profession is less concentrated in the state compared to the national average. This indicates that while the absolute number of jobs is substantial, the relative prevalence of Compliance Officers per capita is lower than the national norm. This scenario could imply a market that is neither oversaturated nor extremely scarce, potentially offering a balanced environment for job seekers and employers.
Nearby Job Markets
Nearby Cities for Compliance Officers
| City | Salary | Dist. |
|---|---|---|
| Bloomington, IL Compliance Officers Salary | $64,900↓ 24% | 9 mi |
| Decatur, IL Compliance Officers Salary | $70,090↓ 18% | 34 mi |
| Champaign-Urbana, IL Compliance Officers Salary | $74,340↓ 13% | 41 mi |
| Peoria, IL Compliance Officers Salary | $76,990↓ 9% | 43 mi |
| Springfield, IL Compliance Officers Salary | $77,330↓ 9% | 53 mi |
Comparing salaries near Illinois
Hiring Compliance Officerss?
Frequently Asked Questions
How much does a Compliance Officers make in Illinois?
The median annual salary for a Compliance Officers in Illinois is $85,040. This typically ranges from $49,210 for entry-level positions to $126,980 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Illinois is 0.6% lower than the national median of $85,520.
Is Illinois a lucrative place for Compliance Officers?
Yes, Illinois offers a competitive compensation landscape for Compliance Officers.The average salary of $85,040 is closely aligned with the national average, and the lower cost of living enhances purchasing power. This combination makes Illinois an attractive location for these professionals.
Is Illinois a good place to live for Compliance Officers?
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 ($64,900) and Decatur, IL.
How does the Illinois Compliance Officer salary compare to the national average?
The average annual salary for Compliance Officers in Illinois is $85,040, which is slightly below the national average of $85,520. However, this difference is often offset by the lower cost of living in Illinois.
What is the significance of the Location Quotient (LQ) for Compliance Officers in Illinois?
An LQ of 0.65 indicates that Compliance Officers are less concentrated in Illinois compared to the national average. This suggests a potentially balanced job market where demand is steady but not overwhelmingly high relative to the workforce size.
How does the Cost of Living Index affect the real value of a Compliance Officer's salary in Illinois?
With a Cost of Living Index of 91.8 (below the national average of 100), the $85,040 salary in Illinois offers greater purchasing power than it might in a higher cost-of-living state, making it financially advantageous.
What does the total local workforce size imply for Compliance Officer job opportunities in Illinois?
A workforce of 10,190 Compliance Officers signifies a substantial and established presence of the profession in Illinois, indicating consistent demand and a healthy job market for experienced professionals.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 10,190 employees in the Illinois area with a job density of 1.679 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Compliance Officers • Data source: BLS OEWS 2024 •Jobs in Illinois