Financial Managers Salary
Financial Managers in Illinois make a median of $165,880 a year, or about $79.75 an hour. The range runs from $100K at the entry level to $313K for experienced workers. Cost of living is below average (RPP 93.85), which stretches that salary to about $176,750 in buying power. Rent on a 2-bedroom averages $1,407/month, or 14% of estimated take-home pay.
Statewide average. Salary and cost of living vary significantly across Illinois. Jump to a metro for precise data:
So what does $166K get you in Illinois?
About financial managers
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What this looks like in Illinois
Financial managers pay in Illinois tracks closely to the national median, $166K locally vs. $167K nationwide, a 0% difference. Housing is manageable: a 2-bedroom at the HUD median costs $1,407/month, 14.6% of take-home, well inside the 30% guideline. Regional Price Parity sits at 93.85 (national = 100), meaning everyday costs run about 6% cheaper here. Your dollar stretches further than the headline salary suggests. Use the affordability calculator above to model your specific situation.
Compensation breakdown
Annual earnings by percentile, Illinois
Entry-level financial managers (10th percentile) start around $100K. Mid-career wages sit at $166K. Top earners bring in $313K or more, a $213K spread from bottom to top.
Financial Managers salary by metro in Illinois
8 metro areas with BLS data, ranked by median pay
| Metro area | Median salary | vs. state | Employment |
|---|---|---|---|
| Chicago-Naperville-Elgin | $169K | +2% | 41,590 |
| Bloomington | $156K | -6% | 1,400 |
| Peoria | $156K | -6% | 1,170 |
| Rockford | $136K | -18% | 590 |
| Springfield | $134K | -20% | 670 |
| Decatur | $131K | -21% | 220 |
| Champaign-Urbana | $128K | -23% | 660 |
| Kankakee | $127K | -23% | 170 |
Compare to other states
Track financial managers salary changes
BLS updates this data quarterly. We'll email you when Illinois numbers change.
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Frequently asked questions
Can a financial manager afford a 2BR apartment alone in Illinois?
Yes — at the median salary of $166K, rent takes 14.6% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,407/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for financial managers in Illinois?
The 10th-percentile wage — what new financial managers typically earn — is $100K/year. Take-home on that works out to about $6,004/month. At HUD’s $1,407/month FMR, rent would take 23% of that take-home — manageable on an entry-level income.
Is financial manager a high-paying job in Illinois?
Pay here is roughly in line with the national average — $166K locally vs. $167K nationally, a 0% difference.
How does Illinois compare to the national average for financial managers?
Illinois pays $166K median vs. the U.S. average of $167K — that’s +0%. After adjusting for local cost of living (RPP 93.85), the purchasing-power equivalent is $177K — still ahead of the national median.
How much do financial managers make in Illinois?
The median is $165,880 a year, that works out to about $80 an hour. But the range is wide: entry-level workers start around $100,070, and experienced financial managers can clear $313,110. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $166K enough to live in Illinois?
On that salary, you'd take home roughly $9,660/month after taxes. A 2-bedroom here rents for about $1,407/month, which eats 14.6% 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 Illinois?
Illinois has a Regional Price Parity of 93.85 (100 is the national average). That's below average, your money stretches further here than the raw salary number suggests. After cost-of-living adjustment, the median financial managers salary is worth about $176,750 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.