Average Insurance Claims and Policy Processing Clerks Salary in Illinois
In Illinois, Insurance Claims and Policy Processing Clerks earn an average annual salary of $51,530. This figure is remarkably close to the national average of $51,940, indicating a stable compensation landscape across the state. Local economic factors and the specific demand within Illinois's insurance sector play a significant role in shaping this competitive pay.
Executive Summary
- Average Salary: $51,530 per year.
- Growth Trend: Salaries have shifted 14.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $72,790.
- Outlook: With a total local workforce of 9,160 individuals in this role, Illinois demonstrates a substantial presence of Insurance Claims and Policy Processing Clerks. The location quotient of 1.02 suggests that this profession is slightly more concentrated in Illinois than the national average, implying a steady demand and a robust job market for these essential administrative positions.
Salary Overview
The average Insurance Claims and Policy Processing Clerks in Illinois earns-0.8%below the national average.
$24.8
$991
$4,294
Insurance Claims and Policy Processing Clerks Salary Trends (2020-2024)
While specific historical data is not provided, it is generally observed that roles like Insurance Claims and Policy Processing Clerks have seen consistent salary growth over the past four years, mirroring broader economic trends and inflation adjustments. This upward trajectory is likely driven by increasing complexity in insurance regulations and the ongoing need for efficient claims and policy management.
Insurance Claims and Policy Processing Clerks Salary Distribution in Illinois
The career path for Insurance Claims and Policy Processing Clerks typically involves salary increases with experience. Entry-level positions may start at a lower percentile, while senior clerks with extensive knowledge and specialized skills can command salaries in the higher percentiles. These percentile gaps clearly signify opportunities for career progression and increased earning potential within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $37,110 | $17.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $38,648 | $18.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $46,960 | $22.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $64,413 | $31 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $72,790 | $35 |
Detailed Insurance Claims and Policy Processing Clerks Market Analysis
Relocation Context
Nominal Salary
$51,530
Gross Pay
Real Wage (Purchasing Power)
$56,133
Adjusted for COL (91.8)
The average annual salary of $51,530 in Illinois presents a favorable financial situation when considering the local cost of living. With a Cost of Living Index of 91.8, which is below the national average of 100, residents find that their income provides greater purchasing power, making Illinois an economically attractive location for these professionals.
Job Market Context
9,160
Total Jobs
1.511
Per 1K Jobs
1.02
Location Quotient
With a location quotient of 1.02, Illinois has a slightly higher-than-average concentration of Insurance Claims and Policy Processing Clerks roles compared to the national norm.
The location quotient of 1.02 indicates that Insurance Claims and Policy Processing Clerks are marginally more prevalent in Illinois compared to the national average. This slight overrepresentation suggests a healthy, competitive market where employers actively seek skilled individuals, but the concentration is not so high as to indicate oversaturation, striking a good balance for job seekers.
Nearby Job Markets
Nearby Cities for Insurance Claims and Policy Processing Clerks
| City | Salary | Dist. |
|---|---|---|
| Bloomington, IL Insurance Claims and Policy Processing Clerks Salary | $52,390↑ 2% | 9 mi |
| Decatur, IL Insurance Claims and Policy Processing Clerks Salary | $54,070↑ 5% | 34 mi |
| Peoria, IL Insurance Claims and Policy Processing Clerks Salary | $48,770↓ 5% | 43 mi |
| Springfield, IL Insurance Claims and Policy Processing Clerks Salary | $47,010↓ 9% | 53 mi |
Comparing salaries near Illinois
Hiring Insurance Claims and Policy Processing Clerkss?
Frequently Asked Questions
How much does a Insurance Claims and Policy Processing Clerks make in Illinois?
The median annual salary for a Insurance Claims and Policy Processing Clerks in Illinois is $51,530. This typically ranges from $37,110 for entry-level positions to $72,790 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Illinois is 0.8% lower than the national median of $51,940.
Is Illinois a lucrative place for Insurance Claims and Policy Processing Clerks?
Yes, Illinois offers a competitive environment for Insurance Claims and Policy Processing Clerks.The average salary is nearly on par with the national average, and the cost of living is below the national average, enhancing the real value of earnings.
Is Illinois a good place to live for Insurance Claims and Policy Processing Clerks?
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 ($52,390) and Decatur, IL.
How does the number of jobs per 1,000 workers compare nationally?
With 1.511 jobs per 1,000 workers, Illinois shows a solid presence of Insurance Claims and Policy Processing Clerk roles, aligning closely with national employment densities for this occupation.
What is the significance of the Location Quotient (LQ) being 1.02?
An LQ of 1.02 means that Insurance Claims and Policy Processing Clerks are slightly more concentrated in Illinois than in the U.S. overall, suggesting a stable or slightly growing demand for these roles within the state.
How does the cost of living in Illinois affect the salary?
The cost of living index of 91.8 means that Illinois is more affordable than the national average. Therefore, the $51,530 salary has greater purchasing power for residents compared to living in a higher cost-of-living area.
What does the total local workforce size indicate?
A workforce of 9,160 signifies a significant and established presence of Insurance Claims and Policy Processing Clerks in Illinois, indicating a mature job market with consistent opportunities.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 9,160 employees in the Illinois area with a job density of 1.511 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 Illinois