Average Residential Advisors Salary in Chicago-Naperville-Elgin, IL-IN
Residential Advisors in the Chicago-Naperville-Elgin, IL-IN metropolitan area earn an average annual salary of $42,030. This figure slightly surpasses the national average of $41,320, indicating a marginally more favorable compensation landscape locally. Local economic factors and the specific demand within the region contribute to this slight premium.
Executive Summary
- Average Salary: $42,030 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $51,950.
- Outlook: With a local workforce of 1,740 Residential Advisors, the Chicago-Naperville-Elgin area demonstrates a significant presence in this field. The Location Quotient of 0.72 suggests that while the concentration is slightly below the national average, the absolute number of professionals indicates a stable and active job market with consistent opportunities.
Salary Overview
The average Residential Advisors in Chicago-Naperville-Elgin, IL-IN earns+1.7%above the national average.
$20.2
$808
$3,503
Residential Advisors Salary Trends (2020-2024)
While specific historical data for this role in Chicago is not provided, it is generally assumed that salaries for Residential Advisors have seen a steady upward trend over the past four years, mirroring broader economic growth and inflation. This suggests that compensation packages are likely to continue evolving to meet market demands and cost-of-living adjustments.
Residential Advisors Salary Distribution in Chicago-Naperville-Elgin, IL-IN
Career progression for Residential Advisors typically involves a salary increase with experience. Entry-level positions may start closer to the lower end of the pay scale, while senior or lead roles command higher salaries. The variance in pay across different experience levels, often reflected in salary percentiles, signifies clear opportunities for career advancement and increased earning potential within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Entry LevelStarting career. Focus on acquiring core skills. | 10% (Entry) | $29,120 | $14 |
| ExperiencedProficient professional working independently. | 25% (Junior) | $31,523 | $15.2 |
| Mid-LevelEstablished expert. Standard market value. | 50% (Median) | $39,730 | $19.1 |
| Senior LevelAdvanced skills, leadership or specialist role. | 75% (Senior) | $52,538 | $25.3 |
| Top TierIndustry leader / Executive level compensation. | 90% (Expert) | $51,950 | $25 |
Detailed Residential Advisors Market Analysis
Relocation Context
Nominal Salary
$42,030
Gross Pay
Real Wage (Purchasing Power)
$42,030
Adjusted for COL (100)
The average annual salary of $42,030 in Chicago-Naperville-Elgin aligns perfectly with the national Cost of Living Index of 100. This means that the purchasing power of a Residential Advisor's salary in this area is equivalent to the national average, suggesting that the slightly higher nominal wage effectively balances out the cost of living expenses.
Job Market Context
1,740
Total Jobs
0.388
Per 1K Jobs
0.72
Location Quotient
Chicago-Naperville-Elgin, IL-IN has 0.72x the national average concentration of Residential Advisors jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
A Location Quotient of 0.72 indicates that Residential Advisors are slightly less concentrated in the Chicago-Naperville-Elgin area compared to the national average. This suggests a moderately competitive job market where demand may slightly outpace the supply of specialized professionals, potentially leading to stable employment prospects.
Nearby Job Markets
Nearby Cities for Residential Advisors
| City | Salary | Dist. |
|---|---|---|
| Michigan City-La Porte, IN Residential Advisors Salary | $37,130↓ 12% | 41 mi |
| Kankakee, IL Residential Advisors Salary | $38,980↓ 7% | 55 mi |
| Racine-Mount Pleasant, WI Residential Advisors Salary | $32,260↓ 23% | 59 mi |
Comparing salaries near Chicago-Naperville-Elgin, IL-IN
Hiring Residential Advisorss?
Frequently Asked Questions
How much does a Residential Advisors make in Chicago-Naperville-Elgin, IL-IN?
The median annual salary for a Residential Advisors in Chicago-Naperville-Elgin, IL-IN is $42,030. This typically ranges from $29,120 for entry-level positions to $51,950 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 1.7% higher than the national median of $41,320.
Is Chicago-Naperville-Elgin, IL-IN a lucrative place for Residential Advisors?
Yes, moderately so.The average salary is slightly above the national average, and the cost of living is on par, indicating decent earning potential. While not exceptionally high, it offers a stable financial environment for the role.
Is Chicago-Naperville-Elgin, IL-IN a good place to live for Residential Advisors?
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 ($37,130) and Kankakee, IL.
How does the Chicago Residential Advisor salary compare to the national average?
Residential Advisors in Chicago earn an average of $42,030 annually, which is slightly higher than the national average of $41,320.
What is the concentration of Residential Advisors in Chicago compared to the nation?
The Location Quotient for Residential Advisors in Chicago is 0.72, meaning the concentration is 28% lower than the national average.
How does the cost of living in Chicago affect the Residential Advisor salary?
Chicago's cost of living index is 100, which is the national average. Therefore, the $42,030 salary has purchasing power equivalent to the national average.
What is the total number of Residential Advisors in the Chicago area?
There are approximately 1,740 Residential Advisors working in the Chicago-Naperville-Elgin, IL-IN metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,740 employees in the Chicago-Naperville-Elgin, IL-IN area with a job density of 0.388 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Residential Advisors • Data source: BLS OEWS 2024 •Jobs in Chicago-Naperville-Elgin, IL-IN