Average Management Analysts Salary in Chicago-Naperville-Elgin, IL-IN
Management Analysts in the Chicago-Naperville-Elgin, IL-IN metropolitan area command an impressive average annual salary of $127,990, significantly surpassing the national average of $119,370. This elevated compensation is largely driven by the region's robust economic activity and the specialized demand for strategic advisory services within its diverse industries.
Executive Summary
- Average Salary: $127,990 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $200,610.
- Outlook: With a substantial local workforce of 36,300 Management Analysts, the Chicago-Naperville-Elgin area demonstrates a significant concentration of talent. The Location Quotient of 1.4 indicates that this region employs a notably higher proportion of these professionals compared to the national average, suggesting a strong and sustained demand for their expertise.
Salary Overview
The average Management Analysts in Chicago-Naperville-Elgin, IL-IN earns+7.2%above the national average.
$61.5
$2,461
$10,666
Management Analysts Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that Management Analyst salaries in the Chicago-Naperville-Elgin area have experienced consistent growth over the past four years, mirroring national trends. Factors such as evolving business needs, increased complexity in market dynamics, and the continuous drive for operational efficiency likely contribute to upward salary pressures.
Management Analysts Salary Distribution in Chicago-Naperville-Elgin, IL-IN
The salary trajectory for Management Analysts typically scales with experience. Entry-level positions may start closer to the lower percentiles, while seasoned professionals with extensive track records and specialized skills can command salaries at the higher percentiles. The significant gaps between these percentiles underscore the substantial career progression and earning potential available within this field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $64,240 | $30.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $95,993 | $46.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $120,140 | $57.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $159,988 | $76.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $200,610 | $96.4 |
Detailed Management Analysts Market Analysis
Relocation Context
Nominal Salary
$127,990
Gross Pay
Real Wage (Purchasing Power)
$127,990
Adjusted for COL (100)
The average annual salary of $127,990 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 a Management Analyst's salary in this region is equivalent to the national standard, offering a stable financial foundation without the added pressure of higher living expenses.
Job Market Context
36,300
Total Jobs
8.114
Per 1K Jobs
1.4
Location Quotient
With a location quotient of 1.40, Chicago-Naperville-Elgin, IL-IN has a slightly higher-than-average concentration of Management Analysts roles compared to the national norm.
A Location Quotient of 1.4 signifies that Management Analysts are 40% more concentrated in the Chicago-Naperville-Elgin, IL-IN area than the national average. This indicates a highly developed market for these professionals, suggesting both ample opportunities and a competitive landscape where specialized skills are highly valued.
Nearby Job Markets
Nearby Cities for Management Analysts
| City | Salary | Dist. |
|---|---|---|
| Michigan City-La Porte, IN Management Analysts Salary | $84,250↓ 34% | 41 mi |
| Kenosha, WI Management Analysts Salary | $104,470↓ 18% | 51 mi |
| Kankakee, IL Management Analysts Salary | $101,140↓ 21% | 55 mi |
| Racine-Mount Pleasant, WI Management Analysts Salary | $110,280↓ 14% | 59 mi |
| Niles, MI Management Analysts Salary | $107,610↓ 16% | 71 mi |
Comparing salaries near Chicago-Naperville-Elgin, IL-IN
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Frequently Asked Questions
How much does a Management Analysts make in Chicago-Naperville-Elgin, IL-IN?
The median annual salary for a Management Analysts in Chicago-Naperville-Elgin, IL-IN is $127,990. This typically ranges from $64,240 for entry-level positions to $200,610 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 7.2% higher than the national median of $119,370.
Is Chicago-Naperville-Elgin, IL-IN a lucrative place for Management Analysts?
Yes, it is a lucrative place for Management Analysts.The average salary of $127,990 significantly exceeds the national average, and the robust job market indicated by a Location Quotient of 1.4 suggests strong demand and competitive compensation.
Is Chicago-Naperville-Elgin, IL-IN a good place to live for Management 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 Michigan City-La Porte, IN ($84,250) and Kenosha, WI.
How does the number of jobs per 1,000 workers compare nationally?
With 8.114 jobs per 1,000 workers, the Chicago-Naperville-Elgin, IL-IN area has a higher concentration of Management Analyst roles than the national average, indicating a favorable job market.
What is the significance of the Location Quotient (LQ) for Management Analysts in Chicago?
An LQ of 1.4 means that Management Analysts are 40% more prevalent in this region compared to the national average, signaling a strong presence and demand for this profession.
Does the cost of living affect the value of a Management Analyst's salary in Chicago?
No, the local cost of living is exactly at the national average (100), meaning the $127,990 salary offers purchasing power equivalent to the national average.
What does the total local workforce size imply for Management Analysts?
A total local workforce of 36,300 indicates a substantial pool of Management Analysts, suggesting a mature and active market with numerous potential employers and collaborators.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 36,300 employees in the Chicago-Naperville-Elgin, IL-IN area with a job density of 8.114 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Management Analysts • Data source: BLS OEWS 2024 •Jobs in Chicago-Naperville-Elgin, IL-IN