Average Management Analysts Salary in Springfield, IL
Management Analysts in Springfield, IL, earn an average annual salary of $102,960. This figure is notably below the national average of $119,370, suggesting that local market dynamics and potentially a different industry focus in Springfield influence compensation for this role. While the cost of living is on par with the national average, the salary differential warrants closer examination of the local economic landscape.
Executive Summary
- Average Salary: $102,960 per year.
- Growth Trend: Salaries have shifted 21.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $161,240.
- Outlook: Springfield, IL, hosts a modest workforce of 590 Management Analysts, with a jobs-per-1,000-workers ratio of 5.743. The Location Quotient of 0.99 indicates that the concentration of these professionals in Springfield is nearly identical to the national average, suggesting a stable, albeit not exceptionally concentrated, demand for their expertise within the local job market.
Salary Overview
The average Management Analysts in Springfield, IL earns-13.7%below the national average.
$49.5
$1,980
$8,580
Management Analysts Salary Trends (2020-2024)
While specific historical data for Springfield, IL, is not provided, it is reasonable to assume that Management Analyst salaries in the region have experienced growth over the past four years, mirroring national trends. Economic shifts, increased demand for strategic planning, and evolving business needs likely contribute to a gradual upward trajectory in compensation for these analytical roles.
Management Analysts Salary Distribution in Springfield, IL
The salary range for Management Analysts in Springfield, IL, typically widens significantly with experience. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with extensive track records and specialized skills can command salaries in the upper percentiles. This progression reflects the increasing value and complexity of the strategic and operational insights provided by senior analysts.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $59,530 | $28.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $77,220 | $37.1 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $92,120 | $44.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $128,700 | $61.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $161,240 | $77.5 |
Detailed Management Analysts Market Analysis
Relocation Context
Nominal Salary
$102,960
Gross Pay
Real Wage (Purchasing Power)
$102,960
Adjusted for COL (100)
With a Cost of Living Index of 100, Springfield, IL, presents a neutral cost environment compared to the national average. The average Management Analyst salary of $102,960 therefore offers purchasing power that aligns directly with national benchmarks, meaning that the nominal salary's value is not significantly inflated or deflated by local living expenses.
Job Market Context
590
Total Jobs
5.743
Per 1K Jobs
0.99
Location Quotient
Springfield, IL has 0.99x the national average concentration of Management Analysts jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
The Location Quotient of 0.99 for Management Analysts in Springfield, IL, signifies a market where the profession is represented at a level almost exactly matching the national average concentration. This suggests neither an oversupply nor a significant undersupply of these professionals, indicating a balanced job market where opportunities are likely consistent with national availability.
Nearby Job Markets
Nearby Cities for Management Analysts
| City | Salary | Dist. |
|---|---|---|
| Decatur, IL Management Analysts Salary | $117,160↑ 14% | 39 mi |
| West Central Illinois nonmetropolitan area Management Analysts Salary | $112,060↑ 9% | 53 mi |
| East Central Illinois nonmetropolitan area Management Analysts Salary | $109,090↑ 6% | 53 mi |
| Northwest Illinois nonmetropolitan area Management Analysts Salary | $97,560↓ 5% | 53 mi |
| South Illinois nonmetropolitan area Management Analysts Salary | $111,720↑ 9% | 53 mi |
Comparing salaries near Springfield, IL
Hiring Management Analystss?
Frequently Asked Questions
How much does a Management Analysts make in Springfield, IL?
The median annual salary for a Management Analysts in Springfield, IL is $102,960. This typically ranges from $59,530 for entry-level positions to $161,240 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Springfield, IL is 13.7% lower than the national median of $119,370.
Is Springfield, IL a lucrative place for Management Analysts?
No, not exceptionally lucrative compared to the national average.While the average salary of $102,960 is substantial, it falls below the national average of $119,370. The cost of living being at the national average means the lower nominal salary translates to lower real purchasing power relative to national averages.
Is Springfield, IL a good place to live for Management Analysts?
The Cost of Living Index in Springfield, IL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Springfield, IL?
Some top paying nearby cities include Decatur, IL ($117,160) and West Central Illinois nonmetropolitan area.
How does the number of Management Analysts in Springfield compare nationally?
Springfield, IL, has a local workforce of 590 Management Analysts, which is a moderate number relative to the national distribution, as indicated by the jobs per 1,000 workers metric.
What is the significance of the Location Quotient (LQ) being 0.99?
An LQ of 0.99 means that Management Analysts are present in Springfield at a concentration almost identical to the national average. This suggests the local market is neither exceptionally specialized nor lacking in this profession.
Does experience significantly impact a Management Analyst's salary in Springfield?
Yes, as with most analytical roles, experience is a key driver of salary. Senior Management Analysts with proven track records and specialized expertise will command higher salaries than entry-level professionals.
How does the cost of living in Springfield affect the Management Analyst salary?
The cost of living in Springfield is exactly at the national average (100). Therefore, the average salary of $102,960 provides purchasing power that is consistent with the national average, without the benefit of a lower cost of living to stretch the income further.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 590 employees in the Springfield, IL area with a job density of 5.743 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 Springfield, IL