Average Financial Examiners Salary in Illinois
Financial Examiners in Illinois command an impressive average annual salary of $107,930, significantly surpassing the national average of $99,150. This elevated compensation is likely driven by Illinois's robust financial sector and the specialized expertise required for regulatory and compliance roles within the state's economic landscape.
Executive Summary
- Average Salary: $107,930 per year.
- Growth Trend: Salaries have shifted 1.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $171,490.
- Outlook: With a local workforce of 2,970 Financial Examiners and a Location Quotient of 1.2, Illinois demonstrates a notable concentration of these professionals compared to the national average. This suggests a stable and potentially growing demand for skilled examiners within the state, indicating a healthy job market for this specialized field.
Salary Overview
The average Financial Examiners in Illinois earns+8.9%above the national average.
$51.9
$2,076
$8,994
Financial Examiners Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Financial Examiners in Illinois have experienced consistent growth over the past four years, mirroring national trends. Factors such as increasing regulatory complexity, evolving financial landscapes, and a sustained demand for compliance professionals likely contribute to upward salary pressure.
Financial Examiners Salary Distribution in Illinois
Career progression for Financial Examiners in Illinois typically involves a significant salary increase with experience. Entry-level positions may start closer to the lower percentiles, while seasoned professionals with specialized knowledge and proven track records can command salaries in the upper percentiles, reflecting a clear path for career advancement and earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $58,940 | $28.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $80,948 | $38.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $99,680 | $47.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $134,913 | $64.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $171,490 | $82.4 |
Detailed Financial Examiners Market Analysis
Relocation Context
Nominal Salary
$107,930
Gross Pay
Real Wage (Purchasing Power)
$117,571
Adjusted for COL (91.8)
The average annual salary of $107,930 in Illinois presents a strong financial advantage when considering the state's Cost of Living Index of 91.8. This index, being below the national average of 100, indicates that the purchasing power of a Financial Examiner's salary in Illinois is higher than the national norm, allowing for a comfortable lifestyle.
Job Market Context
2,970
Total Jobs
0.489
Per 1K Jobs
1.2
Location Quotient
With a location quotient of 1.20, Illinois has a slightly higher-than-average concentration of Financial Examiners roles compared to the national norm.
A Location Quotient of 1.2 signifies that Financial Examiners are 20% more concentrated in Illinois than the national average. This suggests a competitive yet established market, where employers actively seek these specialized skills, and professionals benefit from a focused industry presence.
Nearby Job Markets
Nearby Cities for Financial Examiners
| City | Salary | Dist. |
|---|---|---|
| Champaign-Urbana, IL Financial Examiners Salary | $106,390↓ 1% | 41 mi |
| Peoria, IL Financial Examiners Salary | $93,700↓ 13% | 43 mi |
| Springfield, IL Financial Examiners Salary | $80,240↓ 26% | 53 mi |
Comparing salaries near Illinois
Hiring Financial Examinerss?
Frequently Asked Questions
How much does a Financial Examiners make in Illinois?
The median annual salary for a Financial Examiners in Illinois is $107,930. This typically ranges from $58,940 for entry-level positions to $171,490 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Illinois is 8.9% higher than the national median of $99,150.
Is Illinois a lucrative place for Financial Examiners?
Yes, Illinois offers a lucrative environment for Financial Examiners.The average salary significantly exceeds the national average, and the lower cost of living further enhances earning potential and financial well-being.
Is Illinois a good place to live for Financial Examiners?
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 Champaign-Urbana, IL ($106,390) and Peoria, IL.
How does the Illinois Financial Examiner salary compare to the national average?
Financial Examiners in Illinois earn an average of $107,930 annually, which is approximately $8,780 more than the national average of $99,150.
What is the concentration of Financial Examiners in Illinois?
Illinois has a Location Quotient of 1.2 for Financial Examiners, indicating a 20% higher concentration of these professionals compared to the national average.
How does the cost of living affect the Financial Examiner salary in Illinois?
With a Cost of Living Index of 91.8, Illinois is more affordable than the national average, meaning the $107,930 salary offers greater purchasing power for residents.
What is the total number of Financial Examiners in Illinois?
There are approximately 2,970 Financial Examiners employed within the state of Illinois.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 2,970 employees in the Illinois area with a job density of 0.489 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 Examiners • Data source: BLS OEWS 2024 •Jobs in Illinois