Average Economics Teachers, Postsecondary Salary in Illinois
Economics Teachers, Postsecondary in Illinois earn an average annual salary of $128,650, which is below the national average of $145,950. This difference in compensation can be attributed to a variety of local economic factors and the specific demand within the state's educational institutions.
Executive Summary
- Average Salary: $128,650 per year.
- Growth Trend: Salaries have shifted 0.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $202,830.
- Outlook: With a total local workforce of 520, the market for Economics Teachers, Postsecondary in Illinois indicates a stable, albeit niche, demand. The Location Quotient of 1.07 suggests that this profession is slightly more concentrated in Illinois than the national average, implying a steady need for these specialized educators within the state's academic landscape.
Salary Overview
The average Economics Teachers, Postsecondary in Illinois earns-11.9%below the national average.
$61.9
$2,474
$10,721
Economics Teachers, Postsecondary Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Economics Teachers, Postsecondary in Illinois have experienced consistent growth over the past four years, mirroring national trends. Factors such as inflation, increased demand for economic expertise, and advancements in educational methodologies likely contribute to a positive salary trajectory.
Economics Teachers, Postsecondary Salary Distribution in Illinois
Career progression for Economics Teachers, Postsecondary in Illinois typically involves a significant salary increase with experience. Entry-level positions may start at a lower percentile, but as educators gain experience, develop specialized knowledge, and potentially take on more senior roles or research responsibilities, their earning potential can climb substantially, reflected in the widening salary gaps across different experience levels.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| ProbationaryInitial licensure. Mentored by senior faculty. | 10% (Entry) | $63,330 | $30.4 |
| Tenured / ProProfessional status. Curriculum development. | 25% (Junior) | $96,488 | $46.4 |
| Senior EducatorDepartment chair. Mentors student teachers. | 50% (Median) | $125,230 | $60.2 |
| Lead SpecialistInstructional coach, reading specialist, or VP. | 75% (Senior) | $160,813 | $77.3 |
| AdministratorPrincipal, District Admin, or Consultant. | 90% (Expert) | $202,830 | $97.5 |
Detailed Economics Teachers, Postsecondary Market Analysis
Relocation Context
Nominal Salary
$128,650
Gross Pay
Real Wage (Purchasing Power)
$140,142
Adjusted for COL (91.8)
The nominal average salary of $128,650 in Illinois presents a favorable financial picture when considered against the state's Cost of Living Index of 91.8. This index is below the national average of 100, meaning that the purchasing power of an Economics Teacher's salary in Illinois is likely higher than the national average, allowing for a comfortable standard of living.
Job Market Context
520
Total Jobs
0.086
Per 1K Jobs
1.07
Location Quotient
With a location quotient of 1.07, Illinois has a slightly higher-than-average concentration of Economics Teachers, Postsecondary roles compared to the national norm.
Illinois's Location Quotient of 1.07 for Economics Teachers, Postsecondary signifies a job market that is slightly more concentrated than the national average. This suggests that while the profession is not overwhelmingly abundant, there is a marginally higher presence and demand for these educators in Illinois compared to the rest of the country, indicating a competitive yet accessible market.
Nearby Job Markets
Hiring Economics Teachers, Postsecondarys?
Frequently Asked Questions
How much does a Economics Teachers, Postsecondary make in Illinois?
The median annual salary for a Economics Teachers, Postsecondary in Illinois is $128,650. This typically ranges from $63,330 for entry-level positions to $202,830 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Illinois is 11.9% lower than the national median of $145,950.
Is Illinois a lucrative place for Economics Teachers, Postsecondarys?
Yes, Illinois offers a good financial standing for Economics Teachers, Postsecondary.Despite a salary slightly below the national average, the lower cost of living in Illinois enhances the purchasing power of the $128,650 average salary. The slightly higher concentration of these roles (LQ 1.07) also suggests consistent demand.
Is Illinois a good place to live for Economics Teachers, Postsecondarys?
With a Cost of Living Index of 91.8 (lower than the national average of 100), your salary goes further here.
How does the Illinois salary compare to the national average?
The average annual salary for Economics Teachers, Postsecondary in Illinois is $128,650, which is approximately $17,300 less than the national average of $145,950.
What is the Cost of Living Index in Illinois?
Illinois has a Cost of Living Index of 91.8, which is lower than the national average of 100, indicating that everyday expenses are generally more affordable in the state.
How concentrated is the job market for Economics Teachers, Postsecondary in Illinois?
The Location Quotient for this profession in Illinois is 1.07, meaning it is slightly more concentrated than the national average, suggesting a marginally higher demand or presence of these roles within the state.
What does the number of jobs per 1,000 workers indicate?
With 0.086 jobs per 1,000 workers, this metric highlights the relative scarcity and specialization of Economics Teacher, Postsecondary roles within the broader Illinois workforce.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 520 employees in the Illinois area with a job density of 0.086 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Economics Teachers, Postsecondary • Data source: BLS OEWS 2024 •Jobs in Illinois