Average Salaries in Chicago, IL
Explore salary data for all occupations in the Chicago-Naperville-Elgin metropolitan area.
Average Salary
$86,138
across all occupations
Highest Paying Job
$242,349
Physician
Occupations Covered
80
jobs with salary data
Cost of Living: Chicago, IL has a cost of living that is 5.4% above the national average. Consider this when comparing salaries.
Salaries in Chicago, IL by Occupation
About Working in Chicago, IL
The Chicago-Naperville-Elgin metropolitan area is the third-largest in the United States and serves as the economic hub of the Midwest. Known for its diverse economy, world-class architecture, and cultural offerings, Chicago offers strong career opportunities with a significantly lower cost of living than coastal cities.
Based on Bureau of Labor Statistics data, the average salary across all occupations in Chicago, IL is $86,138 per year. Salaries range from $34,389 for Childcare Workers to $242,349 for Physicians. The metropolitan area employs approximately 58,185 workers across the 80 occupations we track.
Chicago, IL Economy Overview
Chicago has a well-diversified economy spanning finance, manufacturing, food processing, healthcare, technology, and professional services. The city is home to major corporate headquarters and serves as a transportation and logistics hub for the country. The Chicago Board of Trade and CME Group make it a center for derivatives trading.
Major Industries in Chicago, IL
The Chicago, IL job market is driven by these key industries:
Cost of Living Considerations
Chicago offers a significantly more affordable cost of living compared to New York, San Francisco, or Los Angeles. Housing costs, while rising, remain more accessible, and many neighborhoods offer good value. The city has excellent public transportation, reducing the need for car ownership in many areas.
Cost of Living Index: 105.4(5.4% above national average)
Job Market Insights
Chicago's job market is robust with opportunities across diverse industries. The city has a growing tech scene and attracts talent from across the Midwest. Corporate headquarters provide executive and professional opportunities, while the healthcare and education sectors offer stable employment. The lower cost of living makes salaries go further.
Quality of Life in Chicago, IL
Chicago offers world-class museums, theater, music, and dining. Lake Michigan provides recreational opportunities, and the city has an excellent park system. Winters are harsh, which impacts lifestyle for part of the year. However, the city's neighborhoods, cultural diversity, and more affordable lifestyle attract many professionals.
Frequently Asked Questions About Salaries in Chicago, IL
What is the average salary in Chicago, IL?
The average salary across all occupations in Chicago, IL is approximately $86,138 per year. However, salaries vary significantly by occupation, experience level, and industry.
What are the highest paying jobs in Chicago, IL?
The highest paying occupation in Chicago, IL based on our data is Physician with an average salary of $242,349 per year. Other high-paying occupations can be found in the salary table above.
How does the cost of living affect salaries in Chicago, IL?
With a cost of living 5.4% above the national average, salaries in Chicago, IL tend to be higher to compensate. However, it's important to consider your overall financial picture, including housing, transportation, and other expenses.
Is Chicago, IL a good place to find a job?
Chicago, IL offers diverse employment opportunities across multiple industries. With 58,185 workers employed across the occupations we track, the metropolitan area has a substantial job market. Your prospects will depend on your industry, skills, and experience level.