Chicago Hourly Wage & Salary 2026
Chicago, IL: $34.86/hr median hourly wage, $72,500 median annual salary, cost of living index 107, and $15.00/hr minimum wage. Calculate take-home pay with federal and Illinois taxes.
Chicago Hourly Wage Quick Answer
The median hourly wage in Chicago, IL is $34.86/hr, equivalent to $72,500 per year at 2,080 work hours. Entry-level pay estimates around $21.61/hr, senior-level pay estimates around $49.50/hr, and the local minimum wage is $15.00/hr.
Median Salary
$72,500
$34.86/hr
Cost of Living
107
US avg = 100
Minimum Wage
$15.00
per hour
Unemployment
4.2%
rate
Chicago, IL Overview
Population
2,696,555
Median Salary
$72,500
Average Salary
$82,000
Avg Commute
35 min
Median Home Price
$320,000
Median Rent
$1,750/mo
Job Growth
+1.5%
Sales Tax
10.25%
Chicago is located in Illinois with a population of 2,696,555. The median household salary is $72,500 per year ($34.86/hour), which is $13,116 above the national median of $59,384. The average commute time is 35 minutes, and the city has a job growth rate of +1.5%.
Chicago Salary by Experience Level (2026)
Wage distribution in Chicago, IL based on BLS percentile breakdown of the $72,500 median salary. Entry-level represents 10th–25th percentile; mid-level is the median; senior-level represents 75th–90th percentile.
| Experience Level | Annual Salary | Hourly Wage | Years Exp |
|---|---|---|---|
| Entry-Level | $44,950 | $21.61/hr | 0–2 years |
| Mid-Level (Median) | $72,500 | $34.86/hr | 3–7 years |
| Senior-Level | $102,950 | $49.50/hr | 8–15 years |
| Top 10% (90th Percentile) | $129,050 | $62.05/hr | 15+ years / leadership |
Percentile multipliers (62%, 100%, 142%, 178%) derived from 2024 BLS Occupational Employment and Wage Statistics distribution across all occupations in metro areas. Specific roles vary; see jobs by city for role-specific data.
Chicago Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Chicago, IL, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$56,245
$4,687.08/month · $2,163.27/biweekly · Effective Rate: 22.4%
Biweekly paycheck estimate: this salary equals about $2,163.27 take-home per paycheck after estimated Illinois and federal taxes. For the 26-paycheck formula, three-paycheck months, and withholding examples, see the Biweekly Paycheck Calculator.
Gross Pay
$72,500
Federal Tax
-$7,120
State Tax
-$3,589
Local Tax
$0
FICA
-$5,546
Net Pay
$56,245
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $6,041.67 | $72,500.00 |
| Federal Income Tax | -$593.33 | -$7,120.00 |
| Illinois State Tax (4.95%) | -$299.06 | -$3,588.75 |
| Social Security (6.2%) | -$374.58 | -$4,495.00 |
| Medicare (1.45%) | -$87.60 | -$1,051.25 |
| Net Take-Home Pay | $4,687.08 | $56,245.00 |
Salary Comparison: Chicago vs Other Cities
See how Chicago's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Chicago, IL | $72,500 | 107 | $67,757 |
| National Average | $59,384 | 100 | $59,384 |
| Bentonville, AR | $72,500 | 98 | $73,980 |
| Peabody, MA | $72,474 | 140.5 | $51,583 |
| National City, CA | $72,577 | 154.5 | $46,975 |
| Medford, MA | $72,402 | 128.4 | $56,388 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Chicago
Chicago's cost of living index is 107 (national average = 100). Living in Chicago is 7% more expensive than the national average.
Median Home Price
$320,000
Median Monthly Rent
$1,750
Annual Rent Cost
$21,000
Your Salary's Purchasing Power
Your $56,245 annual take-home pay in Chicago has the purchasing power of approximately $52,565 in an average-cost US area. You would need to earn $77,575 in Chicago to match a $72,500 salary in an average-cost city.
Top Industries in Chicago
Chicago's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $72,500.
Salary Tips for Chicago Workers
- Research top industries. Chicago's top industries include Finance, Technology, Healthcare. Targeting roles in these sectors can help you earn above the $72,500 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
Job Salaries in Chicago, IL
Browse occupation-specific salary estimates adjusted for Chicago's cost of living. These pages connect national role benchmarks with local take-home pay and market context.
Methodology & Local Economy Data Sources
How we calculate Chicago salary data: Our citywide compensation figures aggregate occupation-specific salary data from BLS Occupational Employment and Wage Statistics for the Chicago-IL metropolitan statistical area (MSA), weighted by local employment counts. Cost-of-living adjustments use the C2ER Cost of Living Index baseline of 100 (national average), with Chicago indexed at 107.
- Median salary calculation: weighted average of Chicago's occupation-specific medians from BLS OEWS, adjusted for local cost of living. Net result: $72,500 annual median.
- Tax burden reflects Illinois state income tax (4.95%) (no local income tax), sales tax (10.25%), and federal taxes per IRS 2026 brackets.
- Unemployment rate for Chicago: 4.2%, sourced from BLS Local Area Unemployment Statistics (LAUS).
- Top industries: Finance, Technology, Healthcare — based on QCEW employment concentration data.
- Job growth: 1.5% projected through 2034, derived from BLS Employment Projections program for Illinois.
- Housing context: median home price $320,000, median rent $1,750/mo, sourced from Census American Community Survey 5-year estimates.
Authoritative US data sources for Chicago, IL:
- BLS Occupational Employment and Wage Statistics (OEWS) — metropolitan area salary data
- BLS Local Area Unemployment Statistics — Chicago unemployment rate
- U.S. Census Bureau — Chicago QuickFacts — population, housing, demographics
- BLS Quarterly Census of Employment and Wages (QCEW) — county-level industry employment
- BLS Economy at a Glance — Illinois — state economic indicators
- U.S. Bureau of Economic Analysis (BEA) — local GDP and personal income data
- BLS Consumer Price Index (CPI-U) — regional inflation tracking
Disclaimer: Salary and cost data are estimates for general guidance. Individual compensation varies by employer, experience, education, negotiation, and skills. Chicago's rapidly changing economy can shift these baselines — always verify with current job listings, employer offers, and recent Illinois labor market reports for the most current figures.
Reviewed by Brazora Monk· Last updated 2026 · BLS & Census data current as of latest releases
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Frequently Asked Questions
What is the hourly wage in Chicago, IL?
The median hourly wage in Chicago, IL is $34.86 per hour. At a standard 2,080-hour work year, that equals about $72,500 per year. Entry-level workers are estimated around $21.61/hr, while senior-level workers are estimated around $49.50/hr before overtime, bonuses, or benefits.
What is the median salary in Chicago, IL?
The median salary in Chicago, IL is $72,500 per year, or $34.86 per hour. The average salary is $82,000. This is $13,116 above the national median of $59,384.
What is the cost of living in Chicago, IL?
Chicago's cost of living index is 107 (national average = 100), meaning it is 7% more expensive compared to the national average. The median home price is $320,000 and the median monthly rent is $1,750.
What are the best industries in Chicago?
The top industries in Chicago, IL include Finance, Technology, Healthcare. The city has a job growth rate of 1.5% and an unemployment rate of 4.2%. Workers in these industries often earn above the city's median salary of $72,500.
How does Chicago's salary compare to other cities?
Chicago's median salary of $72,500 is 22.1% above the national median of $59,384. However, when adjusted for cost of living (index: 107), the real purchasing power is approximately $67,757.
What is the minimum wage in Chicago, IL?
The minimum wage in Chicago, IL is $15.00 per hour. This equals approximately $31,200 per year for a full-time worker (40 hours/week). This is $7.75 above the federal minimum wage of $7.25/hour.