Average Financial and Investment Analysts Salary in Illinois
Financial and Investment Analysts in Illinois earn an average annual salary of $114,760. This figure is slightly below the national average of $117,950, suggesting that while Illinois offers competitive compensation, other factors may influence the precise salary landscape. The state's economic structure and demand for financial expertise contribute to this localized pay rate.
Executive Summary
- Average Salary: $114,760 per year.
- Growth Trend: Salaries have shifted 10.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $185,200.
- Outlook: With a substantial local workforce of 17,950 Financial and Investment Analysts, Illinois demonstrates a significant presence in this sector. The Location Quotient of 1.34 indicates a higher concentration of these professionals compared to the national average, signaling robust demand and a well-established market for their skills within the state.
Salary Overview
The average Financial and Investment Analysts in Illinois earns-2.7%below the national average.
$55.2
$2,207
$9,563
Financial and Investment Analysts Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the average salary for Financial and Investment Analysts in Illinois has experienced steady growth over the past four years, mirroring national trends. Economic expansion, evolving market complexities, and increasing demand for sophisticated financial analysis likely contribute to this upward salary trajectory.
Financial and Investment Analysts Salary Distribution in Illinois
Salary progression for Financial and Investment Analysts in Illinois typically scales with experience. Entry-level positions may start at a lower percentile, while seasoned professionals with specialized skills and a proven track record can command salaries in the higher percentiles. The widening gap between entry-level and senior roles reflects significant career advancement opportunities and increased earning potential throughout one's career.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $62,990 | $30.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $86,070 | $41.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $101,400 | $48.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $143,450 | $69 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $185,200 | $89 |
Detailed Financial and Investment Analysts Market Analysis
Relocation Context
Nominal Salary
$114,760
Gross Pay
Real Wage (Purchasing Power)
$125,011
Adjusted for COL (91.8)
The average nominal salary of $114,760 in Illinois presents a favorable financial standing 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 analyst's salary in Illinois is likely higher than the national average, allowing for a comfortable lifestyle.
Job Market Context
17,950
Total Jobs
2.959
Per 1K Jobs
1.34
Location Quotient
With a location quotient of 1.34, Illinois has a slightly higher-than-average concentration of Financial and Investment Analysts roles compared to the national norm.
Illinois's Location Quotient of 1.34 for Financial and Investment Analysts signifies a market that is more concentrated than the national average. This suggests a competitive yet abundant job market, where employers actively seek specialized financial talent, and professionals have a good number of opportunities available within the state.
Nearby Job Markets
Nearby Cities for Financial and Investment Analysts
| City | Salary | Dist. |
|---|---|---|
| Bloomington, IL Financial and Investment Analysts Salary | $115,580↑ 1% | 9 mi |
| Champaign-Urbana, IL Financial and Investment Analysts Salary | $82,970↓ 28% | 41 mi |
| Peoria, IL Financial and Investment Analysts Salary | $84,300↓ 27% | 43 mi |
| Springfield, IL Financial and Investment Analysts Salary | $110,080↓ 4% | 53 mi |
Comparing salaries near Illinois
Hiring Financial and Investment Analystss?
Frequently Asked Questions
How much does a Financial and Investment Analysts make in Illinois?
The median annual salary for a Financial and Investment Analysts in Illinois is $114,760. This typically ranges from $62,990 for entry-level positions to $185,200 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Illinois is 2.7% lower than the national median of $117,950.
Is Illinois a lucrative place for Financial and Investment Analysts?
Yes, Illinois offers a lucrative environment for Financial and Investment Analysts.The state's higher-than-average concentration of these professionals (LQ 1.34) and a cost of living below the national average indicate strong earning potential and good purchasing power for analysts.
Is Illinois a good place to live for Financial and Investment Analysts?
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 ($115,580) and Champaign-Urbana, IL.
How does the Illinois salary compare to the national average?
The average salary for Financial and Investment Analysts in Illinois is $114,760, which is slightly lower than the national average of $117,950.
What is the job market like for Financial and Investment Analysts in Illinois?
Illinois has a robust job market for these professionals, with a higher concentration (LQ 1.34) and a significant workforce size of 17,950, indicating strong demand.
How does the cost of living affect the salary in Illinois?
With a Cost of Living Index of 91.8, lower than the national average, the $114,760 salary in Illinois offers good purchasing power, making it financially advantageous.
What does the Location Quotient of 1.34 mean for analysts in Illinois?
A Location Quotient of 1.34 indicates that Financial and Investment Analysts are more concentrated in Illinois than the national average, suggesting a competitive and established market for these roles.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 17,950 employees in the Illinois area with a job density of 2.959 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 Illinois