In our recent North America public accounting salary guide, we analysed 400+ placements across 24 US states, DC and Ontario, breaking salary trends down by state, job level and CPA firm size.
This regional follow-up focuses on the Midwest, using placement data from the last three years to explore how salaries vary across Illinois, Indiana, Kansas, Ohio and Wisconsin.
Compared to regions like the Northeast, what stands out most in the Midwest is how concentrated the market can be around major cities – particularly Chicago. In many ways, Illinois almost behaves like two separate markets: Chicago and everything outside it.
Before diving into the data, it’s worth noting that the figures featured throughout this report are based on average salaries from Distinct’s public accounting placements over the last three years. They should be viewed as indicative market trends rather than definitive salary benchmarks, as compensation can vary significantly depending on factors such as experience, specialisation, firm size and local market conditions.
Key public accounting salary trends in the Midwest
- Chicago continues to command a premium
Manager and Partner compensation in Chicago sits notably above wider Illinois averages, particularly within Mid-size and Top 200 firms.
- Boutique firms remain highly competitive
Across several Midwest markets, Boutique firms continue to compete strongly on salary – particularly at Senior and Manager level.
- Progression across the wider Midwest appears steadier
Compared to sharper jumps seen in some coastal markets, progression across Indiana, Ohio and Wisconsin appears more gradual and consistent through the early and mid-levels.
- Manager remains the key earnings turning point
As seen in our wider North America report, the most meaningful salary acceleration in the Midwest tends to happen at Manager level rather than Senior.
Illinois: Chicago remains its own market
As expected, salaries in Chicago trend higher than the wider Illinois average, reflecting both increased competition for talent and a higher cost of living.
Within Chicago, Top 200 Associate salaries average $95,310, while Mid-size Associate salaries reach $94,510 – both substantially ahead of the wider Illinois market. At Manager level, Chicago compensation rises to $144,008 within Top 200 firms and $139,564 within Mid-size firms.
Partner compensation also remains strong. Mid-size Chicago Partner salaries average $204,520, while Boutique firms reach $184,520.
Outside Chicago, salary progression appears more measured. Boutique Associate salaries average $75,088 and Mid-size Manager salaries reach $117,342, although Top 200 Manager compensation still climbs to $140,675 statewide.
One of the more interesting trends in the dataset is how competitive Boutique firms remain at experienced levels. Chicago Boutique Manager salaries average $137,342 – not far behind larger firms and well ahead of many candidates’ expectations.
Indiana: steady progression across the market
Indiana shows a more gradual salary curve than some larger national markets, but progression remains relatively steady across levels.
Associate salaries average between $70,726 and $74,373 depending on firm size, before rising to $93,162 at Senior level within Boutique firms. Manager compensation reaches $115,308 within Mid-size CPA firms.
Compared to some of the sharper salary jumps seen elsewhere in the national dataset, Indiana’s market appears more stable and incremental in how compensation develops through the career path.
Ohio and Wisconsin: steady regional markets
Ohio’s dataset is smaller, but still provides an interesting snapshot of the market. Senior salaries at Senior level in Boutique firms averaged $81,340, while Top 200 Associate salaries average $65,504 before rising to $94,801 at Senior level.
Wisconsin shows a similar pattern, with Boutique Senior salaries averaging $89,637 and Top 200 Manager compensation reaching $113,045.
The broader takeaway across the Midwest is clear: market dynamics vary significantly by city, firm type and career stage. Chicago continues to command a premium, but smaller firms and regional markets remain highly competitive in their own ways.
While this dataset highlights broader market trends, salary benchmarking is rarely one-size-fits-all. Factors such as firm size, specialisation, local demand and individual experience can all have a significant impact on compensation.
If you’re hiring, reviewing your salary expectations or considering your next move, speak with one of Distinct’s specialist public accounting recruiters. Our consultants work within specific markets and can provide tailored insight based on the realities of your state and career level. Get in touch today.
