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Average Cost Estimators Salary in Illinois

Cost Estimators in Illinois earn an average annual salary of $83,240, a figure that aligns closely with the national average of $83,140. While the nominal pay is comparable, the state's cost of living plays a significant role in the actual purchasing power of this salary. Factors such as the concentration of industries requiring detailed cost analysis within Illinois contribute to this competitive compensation landscape.

Executive Summary

  • Average Salary: $83,240 per year.
  • Growth Trend: Salaries have shifted 12.1% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $127,050.
  • Outlook: Illinois boasts a robust job market for Cost Estimators, with a total local workforce of 6,220 professionals. The Location Quotient of 0.72 suggests a slightly lower concentration of these roles compared to the national average, indicating a stable yet potentially growing demand. With 1.025 jobs per 1,000 workers, the market presents consistent opportunities for skilled individuals.
2024 Market Data

Salary Overview

$83,240

The average Cost Estimators in Illinois earns+0.1%above the national average.

BreakdownBased on 40h/week
Hourly

$40

Weekly

$1,601

Monthly

$6,937

Cost Estimators Salary Distribution in Illinois

The salary range for Cost Estimators in Illinois typically expands significantly with experience. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with extensive project portfolios and specialized knowledge can command salaries in the upper percentiles. These percentile gaps are a clear indicator of career progression and the increasing value placed on expertise in the field.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$47,520$22.8
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$62,430$30
ManagerOversees team, compliance, and project delivery.50% (Median)$79,880$38.4
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$104,050$50
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$127,050$61.1

Detailed Cost Estimators Market Analysis

Relocation Context

Nominal Salary

$83,240

Gross Pay

Real Wage (Purchasing Power)

$90,675

Adjusted for COL (91.8)

The average annual salary of $83,240 in Illinois offers a favorable financial position when considering the state's Cost of Living Index of 91.8. This index, which is below the national average of 100, means that the nominal salary translates to a higher real purchasing power for Cost Estimators residing in Illinois compared to those in more expensive regions.

Job Market Context

6,220

Total Jobs

1.025

Per 1K Jobs

0.72

Location Quotient

Below Average

Illinois has 0.72x 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.

With a Location Quotient of 0.72, Illinois has a slightly lower concentration of Cost Estimators relative to the national average. This suggests that while the profession is well-established, the market may not be oversaturated, potentially offering good opportunities for qualified candidates. The demand, as indicated by jobs per 1,000 workers, remains steady.

Nearby Job Markets

Nearby Cities for Cost Estimators

CitySalaryDist.
Bloomington, IL Cost Estimators Salary$76,300↓ 8%9 mi
Decatur, IL Cost Estimators Salary$78,650↓ 6%34 mi
Champaign-Urbana, IL Cost Estimators Salary$73,270↓ 12%41 mi
Peoria, IL Cost Estimators Salary$75,970↓ 9%43 mi
Springfield, IL Cost Estimators Salary$75,120↓ 10%53 mi

Comparing salaries near Illinois

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Frequently Asked Questions

How much does a Cost Estimators make in Illinois?

The median annual salary for a Cost Estimators in Illinois is $83,240. This typically ranges from $47,520 for entry-level positions to $127,050 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Illinois is 0.1% higher than the national median of $83,140.

Is Illinois a lucrative place for Cost Estimators?

Yes, Illinois offers a competitive financial environment for Cost Estimators.The average salary is on par with the national average, and the cost of living is below the national average, enhancing the real value of earnings.

Is Illinois a good place to live for Cost Estimators?

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 ($76,300) and Decatur, IL.

How does the Cost of Living in Illinois affect a Cost Estimator's salary?

Illinois's Cost of Living Index of 91.8, being lower than the national average, means that the $83,240 salary provides greater purchasing power for residents compared to higher-cost states.

What is the concentration of Cost Estimators in Illinois compared to the nation?

The Location Quotient of 0.72 indicates that Cost Estimators are slightly less concentrated in Illinois than the national average, suggesting a balanced job market.

How many Cost Estimators are there in Illinois?

Illinois employs a total of 6,220 Cost Estimators, representing a significant professional community within the state.

Are there many job openings for Cost Estimators in Illinois?

With 1.025 jobs per 1,000 workers, the rate suggests a consistent presence of job opportunities for Cost Estimators in Illinois.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 6,220 employees in the Illinois area with a job density of 1.025 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Cost Estimators • Data source: BLS OEWS 2024 •Jobs in Illinois