Financial Managers Salary
Financial Managers in Chicago-Naperville-Elgin, IL-IN make a median of $168,810 a year, or about $81.16 an hour. The range runs from $103K at the entry level to $321K for experienced workers. Adjusted for local prices (RPP 103.59), that's roughly $162,960 in purchasing power. Rent on a 2-bedroom averages $1,781/month, or 17.4% of estimated take-home pay.
So what does $169K get you in Chicago-Naperville-Elgin?
Groceries, utilities, transportation, and healthcare scaled from national averages by Chicago-Naperville-Elgin’s Regional Price Parity (103.59). Rent from HUD Fair Market Rents. Taxes estimated for single filer, standard deduction. * Healthcare is the employee-paid share only (premiums + out-of-pocket). Actual costs vary by coverage type: employer-sponsored, ACA marketplace, or uninsured.
About financial managers
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What this looks like in Chicago-Naperville-Elgin
Financial managers pay in Chicago-Naperville-Elgin tracks closely to the national median, $169K locally vs. $167K nationwide, a 1% difference. Housing is manageable: a 2-bedroom at the HUD median costs $1,781/month, 18.1% of take-home, well inside the 30% guideline. Cost of living (RPP 103.59) is near the national average, so spending patterns here track the typical American budget fairly closely. Use the affordability calculator above to model your specific situation.
Compared to nearby metros
Median pay for financial managers in metros near Chicago-Naperville-Elgin, adjusted for local cost of living.
| Metro | Median pay | COL-adjusted |
|---|---|---|
| Bloomington | $156K | $167K |
| Peoria | $156K | $171K |
| Springfield | $134K | $144K |
| Champaign-Urbana | $128K | $138K |
COL-adjusted = median salary ÷ (BEA Regional Price Parity ÷ 100). Expresses purchasing power in national-average dollars.
Compensation breakdown
Annual earnings by percentile, Chicago-Naperville-Elgin, IL-IN
Entry-level financial managers (10th percentile) start around $103K. Mid-career wages sit at $169K. Top earners bring in $321K or more, a $218K spread from bottom to top.
Financial Managers pay across states
Median income ranked highest to lowest, compared to the national figure
View Financial Managers salary in all states
| State | Median salary | vs. national | Employment |
|---|---|---|---|
| New York | $220K | +32% | 80,810 |
| Massachusetts | $207K | +24% | 26,150 |
| New Jersey | $199K | +20% | 32,510 |
| District of Columbia | $189K | +13% | 8,930 |
| Virginia | $185K | +11% | 20,850 |
| Colorado | $183K | +10% | 10,640 |
| Delaware | $182K | +9% | 2,810 |
| California | $181K | +9% | 93,310 |
| Washington | $175K | +5% | 12,930 |
| Connecticut | $175K | +5% | 20,040 |
| Rhode Island | $167K | +0% | 2,570 |
| Georgia | $167K | +0% | 21,390 |
| North Carolina | $167K | +0% | 22,460 |
| Illinois | $166K | -0% | 52,720 |
| Texas | $165K | -1% | 71,870 |
| Minnesota | $163K | -2% | 16,680 |
| South Dakota | $160K | -4% | 1,000 |
| Kansas | $159K | -4% | 5,190 |
| Maryland | $159K | -5% | 19,770 |
| Oregon | $156K | -6% | 7,610 |
| Florida | $153K | -8% | 48,910 |
| Utah | $150K | -10% | 8,860 |
| Pennsylvania | $146K | -13% | 32,180 |
| New Hampshire | $145K | -13% | 4,330 |
| Missouri | $143K | -14% | 13,330 |
| Tennessee | $141K | -15% | 17,630 |
| Ohio | $141K | -15% | 27,360 |
| Alabama | $141K | -16% | 7,200 |
| Nebraska | $140K | -16% | 5,630 |
| Arizona | $140K | -16% | 14,900 |
| Wisconsin | $140K | -16% | 15,530 |
| Michigan | $139K | -16% | 22,490 |
| South Carolina | $136K | -18% | 9,020 |
| North Dakota | $136K | -18% | 2,140 |
| Indiana | $136K | -18% | 12,560 |
| Hawaii | $134K | -19% | 3,790 |
| New Mexico | $134K | -20% | 2,530 |
| Maine | $134K | -20% | 3,120 |
| Iowa | $133K | -20% | 9,130 |
| Nevada | $132K | -20% | 8,090 |
| Oklahoma | $132K | -20% | 6,670 |
| Montana | $131K | -21% | 1,510 |
| Kentucky | $131K | -22% | 6,630 |
| Vermont | $129K | -23% | 1,790 |
| Idaho | $127K | -24% | 3,120 |
| Alaska | $127K | -24% | 2,020 |
| Louisiana | $127K | -24% | 7,070 |
| Wyoming | $125K | -25% | 730 |
| Arkansas | $117K | -30% | 7,120 |
| West Virginia | $113K | -32% | 2,610 |
| Mississippi | $111K | -33% | 3,470 |
Showing 1–10 of 51 (all 50 states + DC)
Track financial managers salary changes
BLS updates this data quarterly. We'll email you when Chicago-Naperville-Elgin numbers change.
Related careers in Management
Frequently asked questions
Can a financial manager afford a 2BR apartment alone in Chicago-Naperville-Elgin?
Yes — at the median salary of $169K, rent takes 18.1% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,781/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for financial managers in Chicago-Naperville-Elgin?
The 10th-percentile wage — what new financial managers typically earn — is $103K/year. Take-home on that works out to about $6,209/month. At HUD’s $1,781/month FMR, rent would take 29% of that take-home — manageable on an entry-level income.
Is financial manager a high-paying job in Chicago-Naperville-Elgin?
Pay here is roughly in line with the national average — $169K locally vs. $167K nationally, a 1% difference.
How does Chicago-Naperville-Elgin compare to the national average for financial managers?
Chicago-Naperville-Elgin pays $169K median vs. the U.S. average of $167K — that’s +1%. After adjusting for local cost of living (RPP 103.59), the purchasing-power equivalent is $163K — below the national median.
How much do financial managers make in Chicago-Naperville-Elgin, IL-IN?
The median is $168,810 a year, that works out to about $81 an hour. But the range is wide: entry-level workers start around $103,490, and experienced financial managers can clear $321,200. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $169K enough to live in Chicago-Naperville-Elgin?
On that salary, you'd take home roughly $9,815/month after taxes. A 2-bedroom here rents for about $1,781/month, which eats 18.1% of your paycheck. That's under the 30% guideline most financial planners use, so the numbers work.
How far does a financial managers salary go in Chicago-Naperville-Elgin?
Chicago-Naperville-Elgin has a Regional Price Parity of 103.59 (100 is the national average). Prices are above average here, so your dollar buys less than the same salary would in a cheaper metro. After cost-of-living adjustment, the median financial managers salary is worth about $162,960 in national-average purchasing power.
Where do financial managers get paid the most?
The table above ranks every state by median pay for this role. Keep in mind that the highest-paying states tend to have the highest costs of living, so the top salary doesn't always mean the most money in your pocket.