Business & Finance Chicago, IL Pop. 2,693,976

Investment Banker Salary in Chicago, Illinois

The median investment banker salary in Chicago, IL is $146,900 per year, which is 13.0% above the national median and 11.9% above the Illinois state average.

City Median
$146,900
vs State Avg
+$15,600
vs National
+$16,900
Cost of Living
107%

Investment Banker Pay in Chicago: What to Expect (2026)

Chicago offers a median investment banker salary of $146,900, which is $15,600 above the Illinois state average of $131,300. Compared to the national median of $130,000, Chicago pays above average for this role.

Chicago's cost of living is 107% of the national average, meaning salary figures here closely reflect actual purchasing power. This makes direct comparisons to other cities straightforward.

The salary range for investment bankers in Chicago spans from $84,750 at the 10th percentile to $361,600 at the 90th percentile — a $276,850 spread. Entry-level professionals start around $90,400, while senior investment bankers with 8+ years of experience can earn up to $339,000. As a major metro area with a population of 2,693,976, Chicago typically offers more job opportunities and employer competition, which can drive salaries higher.

Investment Banker Salary in Chicago by Experience

In Chicago, an entry-level investment banker earns around $90,400, while experienced professionals earn up to $339,000 per year. The local cost of living index is 107% of the national average.

Entry Level (0-2 yrs)
$90,400
+$10,400 vs national
Mid Level (3-7 yrs)
$152,550
+$17,550 vs national
Senior Level (8+ yrs)
$339,000
+$39,000 vs national

Salary Percentiles in Chicago, IL

Percentile Chicago
10th Percentile $84,750
25th Percentile $107,350
Median (50th) $146,900
75th Percentile $237,300
90th Percentile $361,600

Investment Banker Salary in Other Illinois Cities

Naperville, IL
$148,200
Pop. 149,540
Aurora, IL
$131,300
Pop. 197,757
Springfield, IL
$118,300
Pop. 114,394
Rockford, IL
$114,400
Pop. 148,655

How to Become a Investment Banker in Chicago

Education

Most investment banker positions require a bachelor's degree. Chicago and the surrounding Illinois area have institutions offering relevant programs.

Key Skills

Financial ModelingValuationM&AExcelPowerPointDue Diligence

Job Outlook

Nationally, investment banker employment is projected to grow 7% over the next decade (faster than average). Demand in Chicago may vary based on local industry and population growth.

Find Investment Banker Jobs in Chicago

Browse open investment banker positions in Chicago, IL:

Indeed → LinkedIn → ZipRecruiter → Glassdoor →

Frequently Asked Questions: Investment Banker Salary in Chicago

How much does a Investment Banker make in Chicago, IL? ▼
The median investment banker salary in Chicago, Illinois is $146,900 per year, which is 13.0% above the national median of $130,000. Salaries range from $84,750 (10th percentile) to $361,600 (90th percentile).
How much does a Investment Banker make per hour in Chicago? ▼
Based on the median annual salary of $146,900, a investment banker in Chicago earns approximately $71 per hour assuming a standard 2,080-hour work year.
How does Chicago compare to the Illinois state average for investment banker pay? ▼
Chicago's median investment banker salary of $146,900 is 11.9% above the Illinois state average of $131,300. The local cost of living index is 107% of the national average.
What is the cost of living in Chicago, IL? ▼
Chicago has a cost of living index of 107% compared to the national average. This means a investment banker salary of $146,900 in Chicago has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a investment banker in Chicago? ▼
Most investment banker positions in Chicago require a bachelor's degree. Key skills include Financial Modeling, Valuation, M&A, Excel. The job market is projected to grow 7% nationally over the next decade.