Accountant in Bloomington, IL

The Salary Picture: Where Bloomington Stands

If you're an accountant looking at Bloomington, IL, you're likely weighing a lower cost of living against a salary that might not hit national averages. Let's get straight to the numbers, because in this town, the math has to work on both ends.

The median salary for an accountant in Bloomington is $84,014 per year, which breaks down to an hourly rate of $40.39. That’s about $7,001 per month before taxes. The national average for accountants sits at $86,080, so Bloomington is slightly below the U.S. norm—a common trade-off for a calmer, more affordable lifestyle in Central Illinois. The local job market supports about 157 accounting positions in the metro area, with a 10-year job growth projected at 4%. That’s modest growth; it suggests stability, not a boom. You’re not moving here for explosive career jumps, but for a sustainable, lower-stress professional life.

Here’s how salaries typically break down by experience level in the Bloomington-Normal area. Note that these are estimates based on local job postings and BLS data for the region, scaled to the median.

Experience Level	Estimated Annual Salary	Key Local Roles
Entry-Level (0-2 years)	$55,000 - $65,000	Staff Accountant, Bookkeeper, AP/AR Clerk
Mid-Level (3-7 years)	$70,000 - $85,000	Senior Accountant, Tax Accountant, Financial Analyst
Senior-Level (8-15 years)	$85,000 - $105,000	Accounting Manager, Controller, Senior Tax Specialist
Expert/Partner (15+ years)	$105,000 - $130,000+	Partner at a CPA firm, Director of Finance, CFO

Compared to other Illinois cities, Bloomington sits in a unique middle ground. Chicago’s median is significantly higher (closer to $95,000+), but the cost of living there is staggering. Springfield, the state capital, might offer slightly higher public-sector salaries but has fewer private corporate roles. Peoria, another Central Illinois hub, is comparable to Bloomington in both pay and cost. Downstate cities like Decatur or Danville often have lower salaries. The insider tip here: If you’re coming from a major metro, you’ll take a pay cut, but your housing costs could drop by 40-50%, effectively increasing your disposable income. For a mid-level accountant earning the Bloomington median, that can mean a more comfortable lifestyle than you’d afford in Chicago on a higher salary.

The Real Take-Home: After Taxes and Rent

Let’s run the numbers for a single accountant earning the median $84,014. This is a realistic scenario for a mid-career professional in the area.

Monthly Budget Breakdown:

• Gross Monthly Income: $7,001
• Estimated Taxes (Federal, State, FICA): ~$1,750 (This is an estimate; use a calculator for your exact situation. Illinois has a flat state income tax of 4.95%.)
• Net Monthly Take-Home Pay: ~$5,251

Now, let’s factor in living costs. The average rent for a one-bedroom apartment in Bloomington is $869/month. The overall Cost of Living Index is 92.0 (U.S. average = 100), meaning it’s about 8% cheaper than the national average.

Sample Monthly Budget:

• Rent (1BR): $869
• Utilities (Elec, Gas, Internet): $180
• Groceries: $350
• Car Payment/Insurance: $500
• Health Insurance (if not fully employer-paid): $300
• Misc. (Dining, Entertainment, Savings): $1,502
• Remaining for Savings/Debt: ~$1,550

Can they afford to buy a home? Yes, absolutely. The Bloomington-Normal housing market is very accessible for an accountant earning the median. The median home price in McLean County hovers around $180,000 - $220,000. With a 20% down payment ($36,000 - $44,000), a 30-year mortgage at current rates (around 7%) would result in a monthly payment of $1,200 - $1,500 (including taxes and insurance). This is very manageable on a net monthly income of $5,251. The local real estate market doesn’t see the wild appreciation of bigger cities, but it’s stable and offers great equity-building potential for a primary residence.

Where the Jobs Are: Bloomington's Major Employers

The job market here is anchored by a mix of education, healthcare, insurance, and a surprising number of corporate offices. You won't find the Big 4 in force, but there are solid, stable employers. Here’s who’s hiring:

1. State Farm Insurance (Headquarters in Bloomington): This is the giant. State Farm employs thousands locally and needs a vast army of accountants, auditors, financial analysts, and actuaries. It’s a corporate environment with clear career ladders. Hiring trends are steady; they promote from within and look for CPAs for senior roles.
2. OSF HealthCare: A major regional health system based in Peoria with a huge presence in Bloomington. Healthcare accounting is a specialty—with revenue cycle management, compliance, and grant accounting being key areas. They are constantly hiring staff accountants and financial managers.
3. Country Financial: Another insurance giant headquartered in Bloomington. Similar to State Farm, they need accountants for internal finance, claims, and investment accounting. They offer robust benefits and are known for a good work-life balance.
4. Bayer Crop Science (in nearby Creve Coeur/Morton): While not in Bloomington proper, it’s a major employer in the metro area. This is a fantastic opportunity for cost accountants, plant controllers, and financial analysts with an interest in agriculture science. The commute is about 30-45 minutes.
5. McLean County Government / City of Bloomington: Public sector accounting is a stable niche. Jobs with the county, city, or local school districts (like Bloomington Public Schools District 87) offer great benefits and pension plans. Hiring is slower but very steady.
6. Local CPA Firms: While not single employers, firms like Marshall, Gerstein & Borun (a large Chicago-based firm with a Bloomington office) and several mid-sized local firms (e.g., Culver, Johnson, Bowden & Co.) provide tax and audit services. They are the primary path for those pursuing public accounting without moving to Chicago.
7. Illinois State University (ISU): A massive employer in neighboring Normal. They hire accountants for university administration, grants management, and the business school’s own offices. It’s a great environment for those who value education and stability.

Getting Licensed in IL

To practice as a CPA in Illinois, you must follow the state board’s requirements. It’s a rigorous process, but straightforward.

Requirements:

1. Education: A bachelor’s degree (120 credit hours) is the minimum to sit for the exam, but to get licensed, you need 150 credit hours and a concentration in accounting. Most candidates get a master’s in accounting or a double major.
2. Exam: Pass the Uniform CPA Exam (4 parts: AUD, BEC, FAR, REG).
3. Experience: One year (2,000 hours) of qualifying experience under a licensed CPA. This can be in public accounting, industry, government, or academia.
4. Ethics Exam: Pass the AICPA Professional Ethics Exam.

Costs (Approximate):

• Exam Fees: ~$1,000 (varies by state and number of attempts)
• Review Course: $1,500 - $3,000 (e.g., Becker, Roger)
• Education (150 hrs): Varies widely, but an extra year of college can cost $10,000+.
• Licensing Fees: ~$250 (application + initial license)

Timeline to Get Started:
If you already have 150 credits and are sitting for the exam, the process can take 6-18 months to complete all parts. If you need to go back for 30 more credits, add 1-2 years. The Illinois Board of Examiners (under the Department of Financial & Professional Regulation) manages the process. Start by submitting your transcripts for evaluation.

Best Neighborhoods for Accountants

Where you live in Bloomington impacts your commute and lifestyle. The city is laid out in a grid, and traffic is generally light, but choosing the right spot matters.

Neighborhood	Vibe & Commute	Avg. 1BR Rent	Insider Tip
Downtown Bloomington	Walkable, historic, urban feel. Close to State Farm HQ, local firms, and restaurants. Commute to most offices is under 10 mins.	~$950	Best for those who want to avoid a car commute and enjoy nightlife. Parking can be tricky.
Ewing Park / Near Illinois State	Family-friendly, tree-lined streets, older homes. Easy access to ISU and the east side businesses.	~$800	Great for those who value a quiet, established neighborhood with character.
The West End	More suburban, newer developments, single-family homes. Closer to shopping (Kohl’s, Target) and major employers like Country Financial.	~$850	Ideal for young professionals planning to buy a home soon. Very car-dependent.
Norman Village / Towanda	A small-town feel within the metro, about 10-15 mins from downtown. Very affordable housing.	~$750	Perfect for those seeking maximum affordability and a quiet lifestyle, with a short commute.

The Long Game: Career Growth

In Bloomington, career growth is less about title-hopping and more about deepening expertise and taking on broader responsibilities.

• Specialty Premiums: The biggest salary premiums are in tax specialization (especially corporate and S-Corp tax) and financial analysis/FP&A. With State Farm and Country Financial, there’s a strong demand for actuarial support accountants and investment accountants. In healthcare (OSF), revenue cycle managers command higher pay. A CPA license is the single most important credential for advancing beyond the mid-level.
• Advancement Paths: The typical path is Staff Accountant → Senior Accountant → Accounting Manager/Controller. For those in public accounting, the path is Associate → Senior → Manager → Partner. In corporate, you might move into a director or VP of Finance role. Lateral moves between the major employers (e.g., State Farm to Country Financial) are common and a good way to get a raise.
• 10-Year Outlook (4% Growth): This growth rate is slow but steady. The key is that many senior accountants are approaching retirement age in Central Illinois. This will create openings in management and partner roles over the next decade. The growth will be in roles that require CPA certification and specialized software skills (like advanced Excel, Tableau, or ERP systems like SAP). The rise of remote work also expands opportunities—you can live in Bloomington and work for a Chicago or even national firm, though local cultural fit and networking still matter deeply.

The Verdict: Is Bloomington Right for You?

Bloomington is a pragmatic choice for an accountant who values a stable, affordable lifestyle over the high-octane career of a major financial hub. It’s a city of professionals who work hard but also have time for families, hobbies, and community.

Pros	Cons
Very Low Cost of Living: Your salary goes far, especially for homeownership.	Lower Ceiling: Top-end salaries are capped below major metros.
Stable Major Employers: State Farm, Country, OSF offer long-term job security.	Limited Networking: Fewer industry events, smaller professional community.
Manageable Commutes: Traffic is a non-issue; most drives are under 15 minutes.	Cultural/Entertainment Scene is Smaller: Fewer concerts, museums, diverse restaurants.
Four Distinct Seasons: Real winters and beautiful falls. Great for outdoor lovers.	Slower Pace: Can feel quiet if you’re used to a bustling city.
Strong Sense of Community: Easy to get involved and become a "local."	Reliance on Car: Public transit is limited; a car is a necessity.

Final Recommendation: Bloomington is an excellent choice for a mid-career accountant (5-15 years experience) looking to buy a home, start a family, or enjoy a lower-stress work environment. It’s less ideal for a young, single accountant seeking a vibrant, fast-paced social and career scene. If you value stability, affordability, and a balanced life, Bloomington delivers.

FAQs

Q: Is it worth getting my CPA license if I plan to work in Bloomington?
A: Absolutely. While you can find staff-level jobs without it, a CPA license is the key to unlocking senior, management, and controller roles. It also gives you legitimacy and a higher earning potential. Many local employers (like State Farm and CPA firms) strongly prefer or require it for advancement.

Q: What’s the best way to network as an accountant in Bloomington?
A: Join the Illinois CPA Society (ICPAS) and attend their local chapter events in Bloomington-Normal. Network through your employer’s social committees. The business community is tight-knit; relationships are built through consistent, long-term presence, not just one-off events.

Q: Can I work remotely for a Chicago firm while living in Bloomington?
A: Yes, and it’s increasingly common. The cost-of-living arbitrage is powerful. However, for roles requiring in-person collaboration or client meetings, it can be a hurdle. Be upfront about your location in job searches. Some firms may require periodic trips to Chicago.

Q: How competitive is the job market for entry-level accountants?
A: Moderately competitive. There’s a steady pipeline from Illinois State University’s business school. To stand out, get an internship with a local employer (State Farm, a CPA firm) and earn your 150 credits. Having Excel skills and a willingness to start in AP/AR or audit is key.

Q: What’s the winter like, and does it affect work?
A: Bloomington gets real snow (20-30 inches annually). While heavy storms can cause delays, the city is well-equipped for winter. Major employers rarely close. A reliable car with good tires is essential. The upside is that winters are quiet, perfect for studying for the CPA exam!