Financial Risk Specialist Salary in Chicago, IL
Financial Risk Specialists in the Chicago-Naperville-Elgin, IL-IN metro area earn a median $105,370 a year — 10% less than the national median. After 2026 taxes, that is $77,887 take-home, or $6,491 a month.
Take-home pay calculator
Pre-filled with the median financial risk specialist salary in Chicago, IL. Enter your own offer to see your paycheck.
- Federal income tax$14,351
- Social Security (6.2%)$6,533
- Medicare (1.45%)$1,528
- Illinois income tax$5,071
- Take-home pay$77,887
Marginal rate: 22% federal + 4.95% state
The Chicago-Naperville-Elgin, IL-IN metro spans Illinois, Indiana. Pick the state you live in — state income tax follows your residence.
Got an offer somewhere else? Compare it with this one after taxes and rent →
Financial Risk Specialist pay by experience in Chicago, IL
| Percentile | Salary | Hourly | Take-home / yr | Per month |
|---|---|---|---|---|
| 10th percentile (entry level) | $65,860 | $31.66 | $51,983 | $4,332 |
| 25th percentile | $79,070 | $38.01 | $60,687 | $5,057 |
| Median (50th) | $105,370 | $50.66 | $77,887 | $6,491 |
| 75th percentile | $157,690 | $75.81 | $111,386 | $9,282 |
| 90th percentile (top earners) | $205,140 | $98.63 | $142,703 | $11,892 |
Wages: BLS Occupational Employment and Wage Statistics, May 2025. Take-home: single filer, Illinois resident, 2026 tax rules.
What $105,370 buys in Chicago, IL
Prices in Chicago, IL are 3.6% higher than the U.S. average (housing costs are 1.12× the national average). Adjusted for local prices, a median financial risk specialist's $77,887 take-home pay has the buying power of $75,184 in a typical American city.
Rents: HUD Fair Market Rents, FY2026 (40th-percentile gross rent incl. utilities). Price levels: BEA Regional Price Parities, 2024.
Chicago, IL has 1.3× the national concentration of financial risk specialist jobs — a strong local market for this occupation.
Best-paying cities for financial risk specialists, adjusted for cost of living
Chicago, IL ranks #2 of 2 metro areas once taxes and local prices are taken into account.
| # | Metro area | Median salary | Take-home | Real value* |
|---|---|---|---|---|
| 1 | New York, NY | $139,670 | $99,530 | $88,422 |
| 2 | Chicago, IL | $105,370 | $77,887 | $75,184 |
*Take-home pay divided by the BEA price level, so every city is measured in U.S.-average dollars. See all 2 metros →
About the job: financial risk specialists
Analyze and measure exposure to credit and market risk threatening the assets, earning capacity, or economic state of an organization. May make recommendations to limit risk.
- Typical education
- Bachelor's degree
- Work experience
- None required
- On-the-job training
- None
- Job outlook, 2025–35
- +7.4% (faster than average)
Source: BLS Standard Occupational Classification and Employment Projections, 2025–35.
Frequently asked questions
How much does a financial risk specialist make in Chicago, IL?
The median financial risk specialist salary in the Chicago-Naperville-Elgin, IL-IN metro area is $105,370 a year, or about $50.66 an hour, according to the Bureau of Labor Statistics (May 2025). The middle half earn between $79,070 and $157,690.
What is a financial risk specialist’s take-home pay in Chicago, IL?
On the median $105,370 salary, a single filer living in Illinois takes home about $77,887 a year ($6,491 a month) after federal tax, Social Security, Medicare and $5,071 in Illinois taxes in 2026.
Is Chicago, IL a good place to work as a financial risk specialist?
Pay here is 10% below the national median of $117,330. Local prices are 3.6% above the U.S. average, so the take-home pay buys what $75,184 would in a typical U.S. city. Chicago, IL ranks #2 of 2 metro areas for cost-of-living-adjusted pay in this job.
Can a financial risk specialist afford rent in Chicago, IL?
HUD’s fair market rent for a one-bedroom in Chicago, IL is $1,534 a month ($1,743 for two bedrooms) — 24% of a median financial risk specialist’s monthly take-home pay. Financial planners usually suggest keeping rent under about 30%.
Related jobs in Chicago, IL
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- Project Management Specialist — $105,320
- Management Analyst — $105,090
- Labor Relations Specialist — $103,570
- Financial and Investment Analyst — $101,750
- Insurance Underwriter — $99,840
- Financial Examiner — $98,470
- Credit Analyst — $92,900
- Cost Estimator — $83,640
- Accountant and Auditor — $82,360
- Compliance Officer — $82,020
- Financial Specialists, All Other — $81,740