Average Financial and Investment Analysts Salary in Chicago-Naperville-Elgin, IL-IN
Financial and Investment Analysts in the Chicago-Naperville-Elgin, IL-IN metropolitan area earn an impressive average annual salary of $117,210. This figure is remarkably close to the national average of $117,950, indicating a highly competitive and robust market for these professionals. The concentration of financial services and corporate headquarters within this region naturally drives demand and compensation for skilled analysts.
Executive Summary
- Average Salary: $117,210 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $202,050.
- Outlook: With a substantial local workforce of 14,970 Financial and Investment Analysts, the Chicago-Naperville-Elgin area demonstrates a significant concentration of talent. The Location Quotient of 1.51 further underscores this, suggesting that this region employs a disproportionately higher number of these professionals compared to the national average. This indicates a robust and active job market with sustained demand for financial expertise.
Salary Overview
The average Financial and Investment Analysts in Chicago-Naperville-Elgin, IL-IN earns-0.6%below the national average.
$56.4
$2,254
$9,768
Financial and Investment Analysts Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the compensation for Financial and Investment Analysts in the Chicago-Naperville-Elgin area has seen consistent growth over the past four years. Factors such as evolving market dynamics, increased demand for sophisticated financial strategies, and the general economic climate likely contribute to upward salary trends for these roles.
Financial and Investment Analysts Salary Distribution in Chicago-Naperville-Elgin, IL-IN
Career progression for Financial and Investment Analysts is typically marked by increasing salary benchmarks. Entry-level positions may start at a lower percentile of the salary range, while seasoned professionals with extensive experience and specialized skills can command salaries in the upper percentiles. The widening gap between entry-level and senior roles signifies substantial opportunities for career advancement and increased earning potential within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $64,070 | $30.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $87,908 | $42.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $102,790 | $49.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $146,513 | $70.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $202,050 | $97.1 |
Detailed Financial and Investment Analysts Market Analysis
Relocation Context
Nominal Salary
$117,210
Gross Pay
Real Wage (Purchasing Power)
$117,210
Adjusted for COL (100)
The average annual salary of $117,210 in Chicago-Naperville-Elgin, IL-IN aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of an analyst's salary in this metropolitan area is equivalent to the national average. Therefore, the nominal salary offers a comparable standard of living to that of the average American professional.
Job Market Context
14,970
Total Jobs
3.346
Per 1K Jobs
1.51
Location Quotient
Chicago-Naperville-Elgin, IL-IN has 1.5x the national concentration of Financial and Investment Analysts jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
A Location Quotient of 1.51 for Financial and Investment Analysts in Chicago-Naperville-Elgin, IL-IN signifies a market that is 51% more concentrated than the national average. This indicates a highly competitive environment where demand for these specialized skills is strong, and employers actively seek out experienced professionals. The abundance of roles relative to the national average suggests ample opportunities for job seekers.
Nearby Job Markets
Nearby Cities for Financial and Investment Analysts
| City | Salary | Dist. |
|---|---|---|
| Kenosha, WI Financial and Investment Analysts Salary | $97,900↓ 16% | 51 mi |
| Racine-Mount Pleasant, WI Financial and Investment Analysts Salary | $87,430↓ 25% | 59 mi |
| Niles, MI Financial and Investment Analysts Salary | $100,730↓ 14% | 71 mi |
Comparing salaries near Chicago-Naperville-Elgin, IL-IN
Hiring Financial and Investment Analystss?
Frequently Asked Questions
How much does a Financial and Investment Analysts make in Chicago-Naperville-Elgin, IL-IN?
The median annual salary for a Financial and Investment Analysts in Chicago-Naperville-Elgin, IL-IN is $117,210. This typically ranges from $64,070 for entry-level positions to $202,050 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 0.6% lower than the national median of $117,950.
Is Chicago-Naperville-Elgin, IL-IN a lucrative place for Financial and Investment Analysts?
Yes, it is a lucrative place for Financial and Investment Analysts.The average salary is on par with the national average, and the high concentration of these roles indicates strong demand and competitive compensation.
Is Chicago-Naperville-Elgin, IL-IN a good place to live for Financial and Investment Analysts?
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 Kenosha, WI ($97,900) and Racine-Mount Pleasant, WI.
How does the number of jobs per 1,000 workers compare nationally?
With 3.346 jobs per 1,000 workers, the Chicago-Naperville-Elgin area shows a higher density of Financial and Investment Analyst roles compared to the national average, reflecting a specialized job market.
What is the significance of the Location Quotient (LQ) for this role?
An LQ of 1.51 means that Financial and Investment Analysts are 51% more concentrated in the Chicago-Naperville-Elgin area than in the U.S. overall, indicating a strong regional presence and demand for these professionals.
Does the cost of living affect the value of the salary?
No, the cost of living in Chicago-Naperville-Elgin is exactly at the national average (100), meaning the $117,210 salary offers a purchasing power equivalent to the national average.
How many Financial and Investment Analysts work in the Chicago area?
There are approximately 14,970 Financial and Investment Analysts employed within the Chicago-Naperville-Elgin metropolitan area, highlighting a significant talent pool.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 14,970 employees in the Chicago-Naperville-Elgin, IL-IN area with a job density of 3.346 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Financial and Investment Analysts • Data source: BLS OEWS 2024 •Jobs in Chicago-Naperville-Elgin, IL-IN