Average Management Analysts Salary in Illinois
Management Analysts in Illinois earn an impressive average annual salary of $123,900, surpassing the national average of $119,370. This elevated compensation is likely driven by the state's robust economic landscape and a significant concentration of businesses requiring strategic operational guidance. The demand for skilled analysts in Illinois reflects its importance as a hub for various industries.
Executive Summary
- Average Salary: $123,900 per year.
- Growth Trend: Salaries have shifted 20.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $199,740.
- Outlook: With a substantial local workforce of 44,010 Management Analysts and a Location Quotient of 1.25, Illinois demonstrates a strong and concentrated demand for this profession. This indicates that the field is not only present but also more prevalent in Illinois than the national average, suggesting a healthy job market with ample opportunities for both new entrants and experienced professionals.
Salary Overview
The average Management Analysts in Illinois earns+3.8%above the national average.
$59.6
$2,383
$10,325
Management Analysts Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that Management Analyst salaries in Illinois have experienced steady growth over the past four years, mirroring national trends. Economic expansion, increased reliance on data-driven decision-making, and the evolving complexities of business operations typically drive upward salary adjustments in this field.
Management Analysts Salary Distribution in Illinois
The career trajectory for Management Analysts in Illinois typically shows a significant salary increase with experience. Entry-level positions might start at a lower percentile, but as analysts gain expertise, develop specialized skills, and take on more complex projects, their earning potential escalates considerably, reaching higher percentiles for senior and lead analyst roles.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $59,810 | $28.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $92,925 | $44.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $110,370 | $53.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $154,875 | $74.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $199,740 | $96 |
Detailed Management Analysts Market Analysis
Relocation Context
Nominal Salary
$123,900
Gross Pay
Real Wage (Purchasing Power)
$134,967
Adjusted for COL (91.8)
The average Management Analyst salary of $123,900 in Illinois offers excellent purchasing power, especially considering the state's Cost of Living Index of 91.8, which is below the national average of 100. This means that the nominal salary translates to a higher real income, allowing professionals to enjoy a better standard of living compared to areas with a higher cost of living.
Job Market Context
44,010
Total Jobs
7.256
Per 1K Jobs
1.25
Location Quotient
With a location quotient of 1.25, Illinois has a slightly higher-than-average concentration of Management Analysts roles compared to the national norm.
A Location Quotient of 1.25 signifies that Management Analysts are more concentrated in Illinois than in the average U.S. state. This suggests a competitive yet abundant job market, where employers actively seek these professionals, and a larger pool of talent exists, potentially leading to specialized roles and opportunities for career advancement within the state.
Nearby Job Markets
Nearby Cities for Management Analysts
| City | Salary | Dist. |
|---|---|---|
| Bloomington, IL Management Analysts Salary | $119,270↓ 4% | 9 mi |
| Decatur, IL Management Analysts Salary | $117,160↓ 5% | 34 mi |
| Champaign-Urbana, IL Management Analysts Salary | $116,040↓ 6% | 41 mi |
| Peoria, IL Management Analysts Salary | $105,010↓ 15% | 43 mi |
| Springfield, IL Management Analysts Salary | $102,960↓ 17% | 53 mi |
Comparing salaries near Illinois
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Frequently Asked Questions
How much does a Management Analysts make in Illinois?
The median annual salary for a Management Analysts in Illinois is $123,900. This typically ranges from $59,810 for entry-level positions to $199,740 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Illinois is 3.8% higher than the national median of $119,370.
Is Illinois a lucrative place for Management Analysts?
Yes, Illinois is a lucrative state for Management Analysts.The average salary of $123,900 significantly exceeds the national average, and the lower cost of living index of 91.8 enhances the real value of these earnings.
Is Illinois a good place to live for Management 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 ($119,270) and Decatur, IL.
How does the number of Management Analysts in Illinois compare nationally?
Illinois employs 44,010 Management Analysts, and with 7.256 jobs per 1,000 workers, it shows a higher concentration than the national average.
What is the significance of the Location Quotient for Management Analysts in Illinois?
A Location Quotient of 1.25 indicates that Management Analysts are 25% more concentrated in Illinois than the national average, suggesting strong industry presence and demand.
How does the cost of living affect a Management Analyst's salary in Illinois?
With a cost of living index of 91.8, Illinois is more affordable than the national average, making the $123,900 salary provide greater purchasing power for residents.
Are there many job opportunities for Management Analysts in Illinois?
Yes, the substantial workforce size and a Location Quotient above 1.0 suggest a robust job market with ample opportunities for Management Analysts in Illinois.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 44,010 employees in the Illinois area with a job density of 7.256 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 Illinois