Average New Accounts Clerks Salary in Chicago-Naperville-Elgin, IL-IN
New Accounts Clerks in the Chicago-Naperville-Elgin, IL-IN metropolitan area earn an average annual salary of $47,850. This figure is slightly above the national average of $47,610, indicating a marginally more favorable compensation landscape in this region. Local economic factors and industry demand likely contribute to this slight premium.
Executive Summary
- Average Salary: $47,850 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $56,540.
- Outlook: The Chicago-Naperville-Elgin, IL-IN area supports a local workforce of 1,480 New Accounts Clerks. With a Location Quotient of 1.34, this role is more concentrated here than the national average, suggesting a robust demand and a potentially stable job market for these professionals.
Salary Overview
The average New Accounts Clerks in Chicago-Naperville-Elgin, IL-IN earns+0.5%above the national average.
$23
$920
$3,988
New Accounts Clerks Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for New Accounts Clerks in the Chicago-Naperville-Elgin, IL-IN area have experienced steady growth over the past four years, mirroring national trends. This growth is typically driven by inflation, increased demand for financial services, and the evolving responsibilities of the role.
New Accounts Clerks Salary Distribution in Chicago-Naperville-Elgin, IL-IN
Career progression for New Accounts Clerks typically involves a salary increase with experience. Entry-level positions may start closer to the lower end of the pay scale, while senior clerks with extensive experience and specialized skills can command salaries significantly higher than the average. The percentile gaps in salary distribution reflect these opportunities for advancement.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $37,600 | $18.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $35,888 | $17.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $46,730 | $22.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $59,813 | $28.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $56,540 | $27.2 |
Detailed New Accounts Clerks Market Analysis
Relocation Context
Nominal Salary
$47,850
Gross Pay
Real Wage (Purchasing Power)
$47,850
Adjusted for COL (100)
The average annual salary of $47,850 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 New Accounts Clerk's salary in this area is equivalent to the national average, offering no significant advantage or disadvantage in terms of affordability.
Job Market Context
1,480
Total Jobs
0.331
Per 1K Jobs
1.34
Location Quotient
With a location quotient of 1.34, Chicago-Naperville-Elgin, IL-IN has a slightly higher-than-average concentration of New Accounts Clerks roles compared to the national norm.
A Location Quotient of 1.34 signifies that New Accounts Clerks are 34% more prevalent in the Chicago-Naperville-Elgin, IL-IN area compared to the national average. This higher concentration suggests a competitive market with potentially more job openings but also a larger pool of qualified candidates.
Nearby Job Markets
Nearby Cities for New Accounts Clerks
| City | Salary | Dist. |
|---|---|---|
| Kenosha, WI New Accounts Clerks Salary | $45,510↓ 5% | 51 mi |
Comparing salaries near Chicago-Naperville-Elgin, IL-IN
Hiring New Accounts Clerkss?
Frequently Asked Questions
How much does a New Accounts Clerks make in Chicago-Naperville-Elgin, IL-IN?
The median annual salary for a New Accounts Clerks in Chicago-Naperville-Elgin, IL-IN is $47,850. This typically ranges from $37,600 for entry-level positions to $56,540 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 0.5% higher than the national median of $47,610.
Is Chicago-Naperville-Elgin, IL-IN a lucrative place for New Accounts Clerks?
Yes, slightly.The average salary of $47,850 is marginally higher than the national average, and the cost of living is exactly at the national average, offering good value for the compensation.
Is Chicago-Naperville-Elgin, IL-IN a good place to live for New Accounts 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 Kenosha, WI ($45,510) and others.
How does the number of New Accounts Clerks in Chicago compare to the national average?
With 0.331 jobs per 1,000 workers, the concentration of New Accounts Clerks in Chicago-Naperville-Elgin, IL-IN is higher than the national average, as indicated by the Location Quotient of 1.34.
What is the total number of New Accounts Clerks in the Chicago area?
The Chicago-Naperville-Elgin, IL-IN metropolitan area employs approximately 1,480 New Accounts Clerks.
Does experience impact a New Accounts Clerk's salary in Chicago?
Yes, experience significantly influences salary. Entry-level positions typically pay less, while senior New Accounts Clerks with more expertise and responsibilities can earn substantially more than the average salary.
How does the cost of living affect the New Accounts Clerk salary in Chicago?
The cost of living in Chicago-Naperville-Elgin, IL-IN is exactly at the national average (100). Therefore, the nominal salary of $47,850 has the same purchasing power as the national average salary.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,480 employees in the Chicago-Naperville-Elgin, IL-IN area with a job density of 0.331 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for New Accounts Clerks • Data source: BLS OEWS 2024 •Jobs in Chicago-Naperville-Elgin, IL-IN