Financial Managers in Illinois
May 2025 wages · tax year 2026
You keep
$116,579
after federal, FICA and Illinois tax
Tax takes
$49,301
29.7% of the whole
Worth, in national money
$117,929
Illinois costs less than average
On that salary you would be around the 25th percentile for this work in Illinois — roughly, since only five points along the band are published.
One filer, standard deduction, no dependants and nothing paid in before tax — the same household the rest of this page uses, so the comparison holds. City and school-district income taxes are not included.
Median here
$165,880
Kept after tax
$116,579
Worth in national money
$117,929
State rank
14
of 51 states
What this pays, and what it is worth
- Pay for financial managers is strong here. Illinois's middle earner gets $165,880, putting the state 14 of 51 — about 0.41% ahead of the national figure.
- Locally, this pays well. Among 494 occupations Illinois reports, financial managers comes in at 6 — comfortably in the upper quarter.
- Cost of living is unremarkable here. From $165,880, tax leaves $116,579, and adjusting for local prices barely moves it — about $117,929 in comparable terms. Averages run higher here, $183,920, since top earners drag the number up.
- For financial managers, Illinois sits in the upper band nationally: a median of $165,880, ranking 14 of 51 and running about 0.41% above the national midpoint. Nominal advantage of this size is usually, though not always, large enough to survive the state's own tax and price levels.
- Financial managers ranks 6 of 494 occupations by median in Illinois, in the top quartile. Within-state position is largely independent of national position, so this holds regardless of how the state compares to others for the same work.
- Because Illinois sits close to the national price level, the real-terms figure for financial managers — median $165,880 — tracks the post-tax figure closely: $116,579 retained, $117,929 adjusted. ⚠️ Neither is a wage; the second describes what the first buys. Mean pay of $183,920 exceeds the median, so the upper tail is doing the work.
Compare this career across states
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Pay band: Financial Managers
The state median for this job
| Lowest tenth earn under | $100,070 |
|---|---|
| Half earn under | $165,880 |
| Top tenth earn over | $313,110 |
| This salary | $165,880 |
Positions between the published tenth, quarter, half, three-quarter and ninetieth points are estimated by straight line.
The same pay, somewhere else
The state median for this job
| Take-home in Illinois | $116,579 |
|---|---|
| Take-home in Texas | $124,645 |
| Once local prices are leveledBEA price parity | +$10,340 |
State income tax and state price levels only. No city income tax, and no housing market.
What you would need there
The state median for this job
| To match take-home only | $154,079 |
|---|---|
| You could take a cut of | −$14,700 |
| Prices in Texas | 97 vs 99 |
State taxes and state price levels only. No city tax, and no housing market.
Sources and assumptions
- Half the people doing this work in Illinois earn less than $165,880. The published range is $100,070 up to $313,110, so an individual figure can sit a long way from the middle in either direction.
- That $116,579 take-home in Illinois comes from $165,880. It is the no-frills case: single filer, standard deduction, nothing set aside before tax. Real circumstances almost always reduce the tax. City and school-district taxes are not counted at all. Locally the work ranks 6 of 494.
- One number stands for prices across all of Illinois, which is a simplification — big cities cost far more than small towns. Read $117,929, the adjusted value of that $165,880 median, as a way to compare states fairly, not as a quote for any particular place. The two datasets are also from different years. This job sits at 6 of 494 in the state.
- Reported values are medians; for financial managers in Illinois the tenth-to-ninetieth percentile band is $100,070 to $313,110. Neither the median nor the band is an offer rate, and neither accounts for hours, shift differentials or overtime.
- Retained pay of $116,579, from $165,880, assumes a single Illinois filer with the standard deduction and no elective deferrals. Pre-tax retirement or HSA contributions, dependants and itemized deductions all reduce it further; local income taxes, excluded here, would increase it in the states that levy them. This occupation ranks 6 of 494 locally, and the state ranks 14 of 51 for it.
- Price deflation uses one statewide parity for Illinois, so $117,929 — the adjusted value of that $165,880 median — establishes comparability between states rather than accuracy within one. The wage and parity series are dated independently, each following its own publication cycle, and neither is projected forward. This occupation sits at 6 of 494 locally.
Questions people ask
Is this the average pay for the job?
No — it is the middle. Half of these workers earn more and half earn less. The average is $183,920, pulled upward by the top of the range, which is why the middle is the fairer number to plan against.
Why is the pay range for this job so wide?
One title, many jobs. The lowest tenth take $100,070, the highest tenth $313,110, and what separates them is experience, employer and what exactly the role does.
What does this pay actually buy where I live?
A smaller wage in a cheaper place is not automatically less. Adjusted for local prices, this is worth $117,929.
Where does the difference between the wage and my paycheck go?
Three of them are federal and one is not. After income tax, Social Security, Medicare and Illinois's own levy, $116,579 remains.
Can I compare this job across every state?
Yes for this one. Pay is published in all 51 jurisdictions, so a state-to-state comparison here rests on the same survey everywhere rather than on a patchwork.
How does the published median differ from the mean for this occupation?
The median is the midpoint of the distribution; the mean for this occupation in Illinois is $183,920. Wage distributions are right-skewed, so the mean exceeds the median wherever a minority earn substantially more. BLS publishes both because substituting one for the other misstates a typical worker's pay.
What drives the percentile dispersion in this occupation?
Dispersion between the tenth percentile ($100,070) and the ninetieth ($313,110) exceeds the family median dispersion. SOC codes aggregate roles differing in seniority, industry and specialisation, and BLS does not disaggregate below the detailed occupation level, so within-title variance is not separable from the published series.
What is this occupation's price-adjusted compensation in this state?
Illinois's regional price parity is at or below the national average, so nominal wages understate purchasing power. Take-home deflated by the state price level is $117,929 in national-average terms. The adjustment uses an all-items index and does not isolate housing.
What accounts for the gap between gross wage and take-home here?
Take-home of $116,579 reflects federal income tax, OASDI, Medicare and Illinois income tax for a single filer with no adjustments. The state layer is levied in addition to the federal one; only its rate and base differ between states.
Is this occupation's state coverage complete?
State-level estimates are published for all 51 jurisdictions for this occupation, so cross-state comparison is not confounded by suppression. ⚠️ Estimates remain survey-based and carry sampling error; small differences between adjacent states should not be over-read.