Average Cost Estimators Salary in Chicago-Naperville-Elgin, IL-IN
Cost Estimators in the Chicago-Naperville-Elgin, IL-IN metropolitan area earn an average annual salary of $85,150. This figure slightly surpasses the national average of $83,140, indicating a competitive market for these professionals. The specific economic landscape and demand within this region contribute to this favorable compensation.
Executive Summary
- Average Salary: $85,150 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $128,550.
- Outlook: With a local workforce of 4,850 Cost Estimators, the Chicago-Naperville-Elgin area demonstrates a substantial presence in this field. The Location Quotient of 0.76 suggests that while the concentration is slightly below the national average, the sheer volume of jobs indicates a stable and active market for skilled estimators.
Salary Overview
The average Cost Estimators in Chicago-Naperville-Elgin, IL-IN earns+2.4%above the national average.
$40.9
$1,638
$7,096
Cost Estimators Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Cost Estimators in the Chicago-Naperville-Elgin area have experienced steady growth over the past four years, mirroring national trends of increasing demand for analytical and cost-management professionals.
Cost Estimators Salary Distribution in Chicago-Naperville-Elgin, IL-IN
Salary progression for Cost Estimators typically correlates with experience. Entry-level positions may start closer to the lower percentiles, while seasoned professionals with extensive project experience and specialized knowledge can command salaries in the upper percentiles. These percentile gaps are a clear indicator of career advancement opportunities and the value placed on expertise.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $48,660 | $23.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $63,863 | $30.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $81,480 | $39.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $106,438 | $51.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $128,550 | $61.8 |
Detailed Cost Estimators Market Analysis
Relocation Context
Nominal Salary
$85,150
Gross Pay
Real Wage (Purchasing Power)
$85,150
Adjusted for COL (100)
The average annual salary of $85,150 in Chicago-Naperville-Elgin aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of a Cost Estimator's salary in this region is equivalent to the national average, offering a stable financial standing without significant cost-of-living adjustments.
Job Market Context
4,850
Total Jobs
1.083
Per 1K Jobs
0.76
Location Quotient
Chicago-Naperville-Elgin, IL-IN has 0.76x the national average concentration of Cost Estimators 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 0.76 indicates that Cost Estimators are slightly less concentrated in the Chicago-Naperville-Elgin area compared to the national average. This suggests a market that is not oversaturated, potentially offering good opportunities for skilled professionals seeking employment, though perhaps not as intensely specialized as areas with a higher LQ.
Nearby Job Markets
Nearby Cities for Cost Estimators
| City | Salary | Dist. |
|---|---|---|
| Michigan City-La Porte, IN Cost Estimators Salary | $70,250↓ 17% | 41 mi |
| Kenosha, WI Cost Estimators Salary | $76,940↓ 10% | 51 mi |
| Kankakee, IL Cost Estimators Salary | $79,520↓ 7% | 55 mi |
| Racine-Mount Pleasant, WI Cost Estimators Salary | $80,940↓ 5% | 59 mi |
| Niles, MI Cost Estimators Salary | $72,970↓ 14% | 71 mi |
Comparing salaries near Chicago-Naperville-Elgin, IL-IN
Hiring Cost Estimatorss?
Frequently Asked Questions
How much does a Cost Estimators make in Chicago-Naperville-Elgin, IL-IN?
The median annual salary for a Cost Estimators in Chicago-Naperville-Elgin, IL-IN is $85,150. This typically ranges from $48,660 for entry-level positions to $128,550 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 2.4% higher than the national median of $83,140.
Is Chicago-Naperville-Elgin, IL-IN a lucrative place for Cost Estimators?
Yes, it offers competitive compensation.The average salary of $85,150 is above the national average, and the cost of living is on par with the national average, providing strong purchasing power.
Is Chicago-Naperville-Elgin, IL-IN a good place to live for Cost Estimators?
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 ($70,250) and Kenosha, WI.
How does the Chicago-Naperville-Elgin salary compare to the national average?
The average salary for Cost Estimators in Chicago-Naperville-Elgin is $85,150, which is slightly higher than the national average of $83,140.
What is the Cost of Living in Chicago-Naperville-Elgin?
The Cost of Living Index for Chicago-Naperville-Elgin is 100, which is exactly the national average.
How many Cost Estimators work in the Chicago-Naperville-Elgin area?
There are approximately 4,850 Cost Estimators employed in the Chicago-Naperville-Elgin metropolitan area.
Is the job market for Cost Estimators strong in Chicago-Naperville-Elgin?
With a substantial workforce and a Location Quotient slightly below the national average, the market indicates a stable demand for Cost Estimators, suggesting a healthy job environment.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 4,850 employees in the Chicago-Naperville-Elgin, IL-IN area with a job density of 1.083 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Cost Estimators • Data source: BLS OEWS 2024 •Jobs in Chicago-Naperville-Elgin, IL-IN