Financial Analyst Salary in Illinois

How Much Does a Financial Analyst Make in Illinois?

In Illinois, Financial Analysts earn a median of $101,400, with most earning between $77,890 and $130,840 (BLS Occupational Employment Statistics, May 2024).

Analyze financial data to help businesses make investment decisions

Your actual take-home pay as a Financial Analyst in Illinois depends on:

• Your specific salary or hourly rate
• Federal income tax (10% to 37% progressive rates)
• FICA taxes (7.65% for Social Security and Medicare)
• Illinois state income tax
• Local taxes (if applicable in your city)
• Health insurance and retirement contributions
• Cost of living in your specific city or region

Taxes for Financial Analyst in Illinois

As a Financial Analyst working in Illinois, you'll pay the following taxes on your income:

Federal Income Tax

Everyone in the US pays federal income tax, including Financial Analyst professionals. The federal tax system uses progressive tax brackets ranging from 10% to 37%, meaning you pay different rates on different portions of your income.

FICA Taxes

Social Security and Medicare taxes (FICA) total 7.65% of your gross income:

• Social Security: 6.2% (on first $168,600 in 2025)
• Medicare: 1.45% (no income limit)
• Additional Medicare: 0.9% on income over $200,000

Illinois State Income Tax

Illinois has a state income tax that applies to all Financial Analyst salaries earned in the state. The exact rate depends on Illinois's tax brackets and your total income.

Use our Illinois salary calculator to see your exact state tax based on your Financial Analyst salary.

Cost of Living for Financial Analyst in Illinois

Your Financial Analyst salary goes further or shorter depending on the cost of living in your area of Illinois. Key factors include:

• Housing: Rent or mortgage payments (often 25-35% of take-home pay)
• Transportation: Car payments, gas, insurance, or public transit
• Food: Groceries and dining out
• Healthcare: Insurance premiums, copays, prescriptions
• Utilities: Electric, gas, water, internet

A $101,400 Financial Analyst salary in a low-cost area of Illinois provides significantly more buying power than the same salary in an expensive metro area.

Financial Analyst Salary Examples in Illinois

Here's what different Financial Analyst salary levels look like in Illinois:

Estimated for a single filer, standard deduction, 2026 federal tax rates. Calculate your exact take-home →

Calculate your exact take-home pay: These are estimates. For precise calculations based on your specific situation, use our Illinois salary calculator.

Compare Financial Analyst Salaries Across States

The same Financial Analyst salary can result in very different take-home pay depending on the state:

• No-tax states (TX, FL, NV, TN, WA): Higher take-home pay
• Low-tax states (AZ, IN, ND, PA): Moderate take-home pay
• High-tax states (CA, NY, NJ, HI): Lower take-home pay

A $101,400 Financial Analyst salary in California results in about $5,070 to $10,140 less take-home pay per year compared to the same salary in a no-tax state.

Frequently Asked Questions

What is the average Financial Analyst salary in Illinois?

The median Financial Analyst salary in Illinois is $101,400 (BLS, May 2024), with most earning between $77,890 and $130,840.

How much does a Financial Analyst make after taxes in Illinois?

A Financial Analyst earning the Illinois median of $101,400 takes home approximately $75,146 per year after federal tax (~$13,478) and FICA (~$7,757), plus Illinois state tax (~$5,019). Estimated for a single filer, standard deduction, 2026 federal tax rates. Calculate your exact take-home →

Is Illinois a good state for Financial Analyst professionals?

It depends on your priorities. Consider Illinois's cost of living, career opportunities, quality of life, and state tax burden when evaluating your options.

Next Steps

Ready to see your exact Financial Analyst take-home pay in Illinois?

Use our Illinois salary calculator →

Or compare Financial Analyst salaries across different states to find the best location for your career.