Average Insurance Claims and Policy Processing Clerks Salary in Chicago-Naperville-Elgin, IL-IN
Insurance Claims and Policy Processing Clerks in the Chicago-Naperville-Elgin, IL-IN metropolitan area earn an average annual salary of $53,870. This figure slightly surpasses the national average of $51,940, indicating a localized premium for these roles. Factors such as the region's economic activity and demand within the insurance sector likely contribute to this competitive compensation.
Executive Summary
- Average Salary: $53,870 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $76,640.
- Outlook: The Chicago-Naperville-Elgin area supports a substantial workforce of 5,660 Insurance Claims and Policy Processing Clerks. With a Location Quotient of 0.85, the concentration of these roles is slightly below the national average, suggesting a stable but not overly saturated job market. The presence of 1.265 jobs per 1,000 workers indicates consistent employment opportunities for professionals in this field.
Salary Overview
The average Insurance Claims and Policy Processing Clerks in Chicago-Naperville-Elgin, IL-IN earns+3.7%above the national average.
$25.9
$1,036
$4,489
Insurance Claims and Policy Processing Clerks Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Insurance Claims and Policy Processing Clerks in the Chicago-Naperville-Elgin area have experienced steady growth over the past four years, mirroring national trends. Economic expansion, inflation, and evolving industry demands typically drive upward adjustments in compensation for administrative and processing roles.
Insurance Claims and Policy Processing Clerks Salary Distribution in Chicago-Naperville-Elgin, IL-IN
Career progression for Insurance Claims and Policy Processing Clerks typically involves a salary increase with experience. Entry-level positions might start closer to the lower end of the pay scale, while seasoned professionals with specialized skills and a proven track record can command significantly higher salaries, potentially reaching the upper percentiles. The gap between entry-level and senior roles reflects the value placed on accumulated knowledge and efficiency.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $37,920 | $18.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $40,403 | $19.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $48,650 | $23.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $67,338 | $32.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $76,640 | $36.8 |
Detailed Insurance Claims and Policy Processing Clerks Market Analysis
Relocation Context
Nominal Salary
$53,870
Gross Pay
Real Wage (Purchasing Power)
$53,870
Adjusted for COL (100)
The average annual salary of $53,870 in Chicago-Naperville-Elgin aligns perfectly with the national average Cost of Living Index of 100. This means that the nominal salary offers purchasing power equivalent to the national average, suggesting that the cost of living in this metropolitan area is neither a significant advantage nor a disadvantage when comparing it to the rest of the country.
Job Market Context
5,660
Total Jobs
1.265
Per 1K Jobs
0.85
Location Quotient
Chicago-Naperville-Elgin, IL-IN has 0.85x the national average concentration of Insurance Claims and Policy Processing Clerks jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
With a Location Quotient of 0.85, the Chicago-Naperville-Elgin area has a slightly lower concentration of Insurance Claims and Policy Processing Clerks compared to the national average. This suggests that while the job market is robust with a significant workforce, it may offer a slightly less competitive environment for job seekers compared to areas with a higher concentration, potentially leading to more readily available opportunities.
Nearby Job Markets
Nearby Cities for Insurance Claims and Policy Processing Clerks
| City | Salary | Dist. |
|---|---|---|
| Michigan City-La Porte, IN Insurance Claims and Policy Processing Clerks Salary | $45,550↓ 15% | 41 mi |
| Kankakee, IL Insurance Claims and Policy Processing Clerks Salary | $44,320↓ 18% | 55 mi |
Comparing salaries near Chicago-Naperville-Elgin, IL-IN
Hiring Insurance Claims and Policy Processing Clerkss?
Frequently Asked Questions
How much does a Insurance Claims and Policy Processing Clerks make in Chicago-Naperville-Elgin, IL-IN?
The median annual salary for a Insurance Claims and Policy Processing Clerks in Chicago-Naperville-Elgin, IL-IN is $53,870. This typically ranges from $37,920 for entry-level positions to $76,640 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 3.7% higher than the national median of $51,940.
Is Chicago-Naperville-Elgin, IL-IN a lucrative place for Insurance Claims and Policy Processing Clerks?
Yes, with a slight edge over the national average.The average salary of $53,870 is higher than the national average, and the cost of living is on par with the national average, indicating good earning potential.
Is Chicago-Naperville-Elgin, IL-IN a good place to live for Insurance Claims and Policy Processing Clerks?
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 Michigan City-La Porte, IN ($45,550) and Kankakee, IL.
How does the Chicago salary compare to the national average?
The average salary for Insurance Claims and Policy Processing Clerks in Chicago-Naperville-Elgin is $53,870, which is $1,930 higher than the national average of $51,940.
What is the concentration of these jobs in Chicago?
The Location Quotient of 0.85 indicates that the concentration of Insurance Claims and Policy Processing Clerks in Chicago-Naperville-Elgin is slightly below the national average.
How does the cost of living affect the salary in Chicago?
With a Cost of Living Index of 100, the Chicago-Naperville-Elgin area has a cost of living that matches the national average, meaning the $53,870 salary has equivalent purchasing power nationally.
What is the total number of Insurance Claims and Policy Processing Clerks in the Chicago area?
There are approximately 5,660 Insurance Claims and Policy Processing Clerks employed in the Chicago-Naperville-Elgin metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 5,660 employees in the Chicago-Naperville-Elgin, IL-IN area with a job density of 1.265 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Insurance Claims and Policy Processing Clerks • Data source: BLS OEWS 2024 •Jobs in Chicago-Naperville-Elgin, IL-IN