Accountant Salary in Elgin, IL: $83,755 (2026)
Quick Answer:A full-time accountant in Elgin, IL earns a median $83,755/year (≈ $40.26/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 13-2011). Once you factor in Elgin's price level (3% below national, BEA RPP 97.1), that paycheck buys what $86,256 would nationally. Nominal pay sits 6.5% above the Illinois state average.
Based on BLS state-level estimates · View source
In 2026, accountants in Elgin, Illinois, can expect a median annual salary of $83,755, positioning local compensation slightly below the national median of $85,864. The salary range for this profession varies significantly, with entry-level positions starting at $57,047 while experienced professionals can earn as much as $129,821. These estimates, based on 2025 BLS data projected to 2026, reflect regional price parities and the economic landscape of Elgin. The local job market is currently supported by a small but steady pool of 16 accountants, indicating a competitive environment where firms generally seek qualified professionals ready to contribute from day one.
About the Elgin Market
Salary estimated from Illinois average ($88,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $57,047 | $27.43 |
| Lower Range (P25) | $65,810 | $31.63 |
| Median (P50)(typical) | $83,755 | $40.26 |
| Upper Range (P75) | $107,207 | $51.54 |
| Top Earners (P90) | $129,821 | $62.42 |
Median Salary Position
2.46% below the national average
2026 Salary Percentile Distribution in Elgin
In Elgin, IL, the accountant salary spread from the 10th to 90th percentile is $72,774 (2026 est.). At $83,755, the local median is 2.46% below the national median of $85,864.
Salary Calculator
At 40 hours/week in Elgin: You'd be in the lower-middle range
How Elgin Accountant Pay Compares
Elgin median: $83,755/year (2026)
| Compared To | Median Salary | Elgin Pays |
|---|---|---|
| Illinois Average | $78,644 | +6.50% more |
| National Average | $85,864 | -2.46% less |
Accountants in Elgin, IL earn a median of $83,755 per year (2026 est.), which is 2.46% lower than the national median of $85,864 and 6.50% above the Illinois state average of $78,644.
Cost-of-Living Adjusted Salary
Elgin has a cost of living 2.90% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Elgin, IL has a cost-of-living index of 97.1 (below the national average of 100). A accountant earning $83,755 nominally has purchasing power equivalent to $86,256 in an average-cost city — an effective 2.99% boost.
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2019 BLS Actual
$69,793
2025 BLS Actual
$81,625
2026 Current Est.
$83,755
2019–2027 Growth
+23.1%
Salary Trajectory for Accountants in Elgin (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 2.61% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $69,793 | Actual |
| 2020 | $71,754 | Actual |
| 2021 | $75,353 | Actual |
| 2022 | $76,084 | Actual |
| 2023 | $77,918 | Actual |
| 2024 | $85,533 | Actual |
| 2025 | $81,625 | Actual |
| 2026(current) | $83,755 | Estimated |
| 2027 | $85,941 | Projected |
Based on 7 years of BLS OEWS data for the Elgin metropolitan area, the median accountant salary grew 17.0% from $69,793 (2019) to $81,625 (2025). At a 2.61% compound annual growth rate, salaries are projected to reach $85,941 by 2027 — a total increase of $16,148 (23.14%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Elgin metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 2.61% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $57,047 – $65,810 |
| 3-5 years (Mid Career) | $65,810 – $83,755 |
| 5+ years (Experienced) | $83,755 – $107,207 |
| 10+ years (Top Earner) | $107,207 – $129,821 |
CPA salary ranges estimated from BLS percentile data. Individual accountant compensation varies by employer, certifications, and specialization.
Accountant Job Market in Elgin
The cost of living index in Elgin stands at 97.1, suggesting that while salaries may be lower than the national average, the affordability can enhance overall purchasing power for residents. Among the employers, Big 4 public accounting firms like Deloitte or PwC often offer the top salaries, especially for entry-level positions, followed by mid-tier firms. The variance in accountant pay in Elgin is driven by factors such as CPA licensure, specialization areas like taxation or forensic accounting, and the transition from public to industry roles, which often offers a significant pay bump. For those looking to maximize earnings in Elgin, securing a CPA license and targeting roles within prestigious firms or specialized practices may yield the most favorable financial outcomes.
More salary data for Elgin, IL:
Frequently Asked Questions
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Written by Sofia Patel, CPA
Career Analyst
Sofia Patel has over 10 years of experience in financial analysis. She specializes in tax preparation for small businesses. She has worked in both corporate and public accounting environments.
Methodology & Data Source
Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The BLS reported a median annual salary of $81,625 for accountantsin the Elgin metropolitan area. A 2.61% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 compensation. Percentile ranges (P10–P90) represent the full salary distribution across experience levels and practice settings in this market.
Data Sources & Methodology
Salary data for Elgin is estimated from official BLS state-level occupational wage data (2025), adjusted for regional cost-of-living differences using BEA RPP (Regional Price Parities).
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 2.61%, derived from historical BLS wage trends for accountants (SOC 13-2011).
Compiled and verified by Sofia Patel, CPA, a licensed accountant with 10+ years of clinical experience. · View source data at BLS.gov