Average Credit Analysts Salary in Springfield, IL
The average salary for Credit Analystss in Springfield, IL is $86,250. While this is lower than the national average, the cost of living in Springfield, IL may offset the difference, preserving real purchasing power.
Executive Summary
- Average Salary: $86,250 per year.
- Growth Trend: Salaries have shifted 25.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $147,520.
- Outlook: The current demand for Credit Analystss is stable, with a local workforce of approximately 30 professionals. This role remains a specialized component of the broader Springfield, IL economy.
Salary Overview
The average Credit Analysts in Springfield, IL earns-12.1%below the national average.
$41.5
$1,659
$7,188
Credit Analysts Salary Trends (2020-2024)
Over the past 4 years, Credit Analysts salaries in Springfield, IL have experienced a rapid surge, growing by 25.0%. This positive trajectory often correlates with increased demand and a favorable future outlook for the profession.
Credit Analysts Salary Distribution in Springfield, IL
The earning potential for Credit Analystss in Springfield, IL varies significantly by experience level. There is a substantial income gap, with top earners (90th percentile) making over 3.0x the starting salary. This indicates strong career progression opportunities. Entry-level roles (10th percentile) typically start around $49,490, while highly experienced professionals can command wages upwards of $147,520.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $49,490 | $23.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $64,688 | $31.1 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $76,120 | $36.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $107,813 | $51.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $147,520 | $70.9 |
Detailed Credit Analysts Market Analysis
Relocation Context
Nominal Salary
$86,250
Gross Pay
Real Wage (Purchasing Power)
$86,250
Adjusted for COL (100)
In Springfield, IL, the Cost of Living Index is 100. This increases your effective purchasing power from $86,250 to $86,250.
Job Market Context
30
Total Jobs
0.319
Per 1K Jobs
0.73
Location Quotient
Springfield, IL has 0.73x the national average concentration of Credit Analysts jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
30 people work as Credit Analysts in Springfield, IL.
Only 0.319 out of every 1,000 local jobs are Credit Analysts roles — this is a niche profession in the area.
Nearby Job Markets
Nearby Cities for Credit Analysts
| City | Salary | Dist. |
|---|---|---|
| West Central Illinois nonmetropolitan area Credit Analysts Salary | $69,350↓ 20% | 53 mi |
| East Central Illinois nonmetropolitan area Credit Analysts Salary | $81,830↓ 5% | 53 mi |
| Northwest Illinois nonmetropolitan area Credit Analysts Salary | $67,340↓ 22% | 53 mi |
| South Illinois nonmetropolitan area Credit Analysts Salary | $68,350↓ 21% | 53 mi |
Comparing salaries near Springfield, IL
Hiring Credit Analystss?
Frequently Asked Questions
How much does a Credit Analysts make in Springfield, IL?
The median annual salary for a Credit Analysts in Springfield, IL is $86,250. This typically ranges from $49,490 for entry-level positions to $147,520 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Springfield, IL is 12.1% lower than the national median of $98,110.
Is Springfield, IL a good place for Credit Analystss?
It depends on your priorities. While the average Credit Analysts salary in Springfield, IL is $86,250 (below the national average), the area may offer a lower cost of living or other lifestyle benefits typical of Springfield, IL. See distinct detailed breakdown below.
Is Springfield, IL a good place to live for Credit Analysts?
The Cost of Living Index in Springfield, IL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Springfield, IL?
Some top paying nearby cities include West Central Illinois nonmetropolitan area ($69,350) and East Central Illinois nonmetropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 30 employees in the Springfield, IL area with a job density of 0.319 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Credit Analysts • Data source: BLS OEWS 2024 •Jobs in Springfield, IL