Business administration salaries and cost of living in Illinois
Embarking on a career in business administration in Illinois demands a thorough understanding of the salary landscape in this diverse and economically vibrant state. Whether your aspirations lie in supply chain management, entrepreneurship, leadership roles or operations and general management, comprehending the compensation dynamics is crucial.
This article explores the Bureau of Labor Statistics (BLS) data for various business administration roles, top pay by metro areas, factors influencing salaries, fair compensation assessment, pertinent labor laws, cost of living considerations, educational prerequisites, Illinois-specific professional associations and the state of the economy in Illinois.
Snapshot of business administration salaries in Illinois
There are roughly 182,840 people employed as general and operations managers in Illinois says the BLS. The median wage per hour in Illinois is $49 and the forecasted job growth for the coming decade is 5.8%.
Understanding the state of the economy is crucial for business professionals in Illinois. The state's diverse economy includes sectors like manufacturing, finance, technology and agriculture. Here are some top employers for business administration professionals in the state:
McDonald's Corporation:
Chicago, IL. The fast food company employs leadership roles and operations managers for its national fast food chain.
United Airlines Holdings, Inc.:
Chicago, IL. General and operations managers are utilized abundantly in this transportation giant's HQ. United employs nearly 5,000 corporate workers in its hub offices.
Boeing Company:
Chicago, IL. CEOs and operations and general managers may find employment—and healthy salaries—at the Chicago branch of the aerospace and defense industry manufacturing leader.
Walgreens Boots Alliance, Inc.:
Deerfield, IL. Operations and general managers are strongly utilized to keep the retail pharmacy chain profitable and efficient.
Abbott Laboratories:
Abbott Park, IL. Abbott employs leadership roles to help them create breakthrough medical products in diagnostics, medical devices, nutrition and branded generic pharmaceuticals.
State Farm Insurance Companies:
Bloomington, IL. The insurance and financial services giant employs CEOs, CFOs and CTOs to keep their product lines and customer financial services enterprise running smoothly and securely.
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Business administration salaries in Illinois: A quick overview
While the median salary for business administration professionals—a category that includes careers in management, sales, marketing and a number of other business fields—is just over $76,850 a year according to the U.S. Bureau of Labor Statistics, pay may vary depending upon several factors, including where you work and live and the cost of living, how much experience you have, what certifications you have earned and your level of education.
Illinois' business administration landscape is marked by competitive salaries influenced by industry dynamics, experience and the specific demands of each role. Drawing on data from the Bureau of Labor Statistics (BLS):
Salaries for different business administrator roles in Illinois
Leadership roles:
Top executives, such as CEOs and CTOs, enjoy substantial salaries. CEOs in Illinois have a median annual wage of $167,510, while CTOs earn a median annual wage of $165,720.
Operations and general managers:
Professionals overseeing day-to-day operations earn a median annual wage of $101,430 in Illinois says the BLS.
Supply chain managers:
In Illinois, supply chain managers can expect a median annual wage of $76,550.
Median business administration salary in Illinois
The median annual salary for general and operations managers in Illinois is $101,430 cites the BLS. That wage is just slightly less than the national median for the country, which is $102,950. Illinois ranks 4th in the U.S. for the highest employment of general and operations managers says the BLS, and also for the largest concentration of jobs in the field. Chicago and Naperville rank second largest metro area for largest number of jobs in operations and general management.
General and Operations Managers
10%$45,700
25%$65,020
50%$101,430Median
75%$164,840
90%N/A
Median Hourly Wage$49
Job growth5.8%
Total Employment170,790
Metro area
Median Salary
Bottom 10%
Top 10%
Decatur, IL
$112,990
$51,920
N/A
Chicago-Naperville-Elgin, IL-IN
$105,310
$49,380
N/A
Rockford, IL
$95,860
$46,390
$207,750
Peoria, IL
$95,690
$45,230
$209,600
Bloomington, IL
$94,820
$43,990
$217,360
Springfield, IL
$94,650
$44,410
$205,860
Champaign-Urbana, IL
$93,830
$45,240
$204,990
Kankakee, IL
$90,310
$39,590
$200,470
Source: U.S. Bureau of Labor Statistics (BLS) 2024 median salary; projected job growth through 2033. Actual salaries vary depending on location, level of education, years of experience, work environment, and other factors. Salaries may differ even more for those who are self-employed or work part time.
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Salary range for a business administration career in Illinois
The salary range for general and operations professionals in Illinois typically spans from $45,700 to over $164,840 per year. This accounts for entry-level positions to senior-level roles and takes into consideration the other factors such as experience, education and time in the position.
Pay by metro area within Illinois
Your salary may depend upon where you live within Illinois. For example, Chicago and Naperville may pay better than rural or less populated areas. If your city is an industry center, like Chicago, which is a top financial and transportation hub, pay may be more competitive. Here are top metro areas for general and operations managers per the BLS. As you can see, Illinois doesn't rank in the top 10 for salary, but it does take second for number of metro area jobs.
Metro Area
Median Annual Salary
San Jose-Sunnyvale-Santa Clara, CA
$162,480
Trenton-Princeton, NJ
$160,460
San Francisco-Oakland-Fremont, CA
$152,090
Washington-Arlington-Alexandria, DC-VA-MD-WV
$151,420
New York-Newark-Jersey City, NY-NJ
$149,260
Seattle-Tacoma-Bellevue, WA
$141,280
Sioux Falls, SD-MN
$138,940
Hartford-West Hartford-East Hartford, CT
$135,210
Huntsville, AL
$133,750
Bridgeport-Stamford-Danbury, CT
$132,880
Factors affecting business administrator salary in Illinois
Several factors influence what your business administration salary may be in Illinois. These primary factors may include:
Experience level:
Experience is a key determinant of salary. Operations and general managers with a proven track record may receive higher compensation, reflecting their expertise in navigating challenges.
Geographical location:
The specific area in Illinois where you work can influence salaries. Urban centers like Chicago or Springfield may offer higher salaries due to the concentration of major industries.
Industry specialization:
Illinois' diverse industries, including manufacturing, technology, transportation and pharmaceuticals impact salaries. Professionals in sectors with higher demands or complexities often command higher compensation.
Company size:
The size of the employing company is a crucial factor. Larger corporations, particularly in manufacturing and healthcare, may offer higher salaries for management and leadership roles.
Economic conditions:
Keeping abreast of economic trends and industry developments in Illinois ensures that business administrators are well-equipped to navigate the ever-evolving landscape.
How can I know if my business administrator salary is fair in Illinois?
Illinois has robust labor laws safeguarding employees' rights, covering areas such as minimum wage, overtime and workplace safety. Consult the Illinois Fair Labor Standards page to understand the particulars of pay and parity in the state.
Here are some tips to help guide you if you feel you are being paid unfairly:
Research industry pay for your state: Utilize salary surveys, such as those on Indeed, the BLS and Payscale to understand average compensation for your role in your geographic area.
Understand your company policies: Familiarize yourself with your company's policies on compensation and benefits. Understand how performance reviews and salary adjustments are handled within the organization. Be observant. Is someone who is doing your exact job receiving extra benefits or privileges?
Consult HR: Don't be afraid to ask; ask your supervisor or HR manager to clarify pay packages and how they work. Speak up if you think there is a discrepancy in your pay compared to someone else doing the same job.
If all else fails, consider filing a complaint with the Illinois Department of Labor.
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Education for business administration roles in Illinois
Educational prerequisites differ across business administration roles in Illinois. While a bachelor's degree may suffice for entry-level positions, pursuing an MBA or specialized certifications can enhance career prospects. Aligning education with industry demands is crucial for career advancement in the Illinois business landscape.
Degrees in supply chain management or a related field such as logistics, are commonly sought, with specialized certifications adding potential for advancement.
Leadership roles:
CEOs and CFOs often hold advanced degrees such as an MBA, coupled with extensive industry experience.
Entrepreneurs:
While not strictly tied to any formal education route, entrepreneurs can benefit from foundational knowledge gained through business degrees and practical experiences.
Many MBA and master's degree programs are available online so you can continue your studies while you work.
Cost of living considerations for Illinois
Given the varying cost of living across the state, salary negotiations should account for factors like housing, transportation and other living expenses.
More specifically, Illinois' cost of living is, on average 9% lower than the national average—with housing around 20% lower than the national average, says RentCafe.
RentCafe says all major cities in Illinois except Chicago have a lower cost of living than the national average. Take a look at places the cost of living is lowest:
City in Illinois
Cost of living percentage
Bloomington
10% lower
Chicago
19% higher
Carbondale
8% lower
Rockford
13% lower
Springfield
8% lower
Illinois professional business associations
Professional associations have value for business administration professionals, especially those just beginning their careers, as they provide valuable networking opportunities and continuing education resources. You may want to consider attending events or becoming a member to continue your professional and educational growth and to connect with like-minded individuals in Illinois.
Illinois State Chamber of Commerce: Membership strives to unify the voice of Illinois business leaders so they may have a powerful impact in moving Illinois business in a positive direction.
Illinois Entrepreneurs Association:EO Chicago is the Illinois chapter of the global organization that enables entrepreneurs to learn and grow, leading to greater success in business and beyond.
Supply Chain Management Association–Illinois: Promotes continuous learning of recent advancements in the supply chain industry, fosters relationships between students and industry leaders and provides members with the tools and skills to excel in their careers.
Navigating the business administration salary landscape in Illinois requires a comprehensive approach. By understanding top pay by metro areas, considering influential factors and staying informed about labor laws and the cost of living, professionals can make informed decisions about their compensation. Assessing fair pay, aligning education with industry demands and engaging with Illinois-specific professional associations are key steps toward building a successful career in the thriving business environment of Illinois.
Use this guide as a starting point to make informed decisions about your career path, negotiating salaries and for setting realistic expectations for your educational and professional future.
Find business administration salaries for other states
Learn what you may be able to earn in your state, how the cost of living and other factors could impact your pay, why education matters—especially in business administration leadership roles—and much more.
