Career Guide for Accountants in Peoria, IL

If you're an accountant considering a move to Peoria, you're looking at a city with a unique blend of stability, affordability, and a surprisingly robust professional ecosystem. This isn't the frantic pace of Chicago, but it’s far from a sleepy town. Peoria is the medical and industrial heart of Central Illinois, and its financial landscape reflects that. As a local, I’ve watched this city weather economic shifts and come out with its core industries intact. For an accountant, that means predictable demand, a reasonable cost of living, and a community where you can actually build a career without burning out.

This guide is designed to give you the unvarnished, data-driven picture of what your life as an accountant would look like here—from your paycheck and your commute to the employers who sign the checks. Let’s dive in.

The Salary Picture: Where Peoria Stands

Let’s get straight to the numbers. Peoria offers a competitive salary for accountants, especially when you factor in the cost of living. The median salary for an accountant in the metro area is $83,136/year, which breaks down to an hourly rate of $39.97/hour. This is slightly below the national average of $86,080/year, but the key here is context. Peoria’s overall cost of living index is 88.6, meaning it’s about 11.4% cheaper than the national average. Your dollar stretches further here than it does in most other metro areas.

Here’s how salaries typically break down by experience level in the Peoria market. Note that these are estimates based on local job postings and BLS data for the region.

Experience Level	Typical Years of Experience	Estimated Salary Range (Peoria)	Key Responsibilities
Entry-Level	0-2 years	$55,000 - $68,000	Bookkeeping, AP/AR, assisting with month-end close, basic tax preparation.
Mid-Level	3-7 years	$70,000 - $90,000	Full-cycle accounting, financial reporting, tax planning, supervising junior staff.
Senior-Level	8-15 years	$90,000 - $115,000	Management, complex tax strategy, audit preparation, system implementation.
Expert/Manager	15+ years	$115,000 - $145,000+	Director-level roles, CFO support, partner in a firm, high-level consulting.

How does Peoria stack up against other Illinois cities? It’s a solid mid-market choice. It pays less than Chicago (where the median is closer to $95k) but significantly more than smaller downstate cities like Bloomington-Normal or Springfield. The trade-off is Peoria’s much lower housing cost, which often makes the net financial benefit better than in the more expensive metro areas.

Insider Tip: The 10-year job growth for accountants in the metro is projected at 4%, which is modest. This isn't a field seeing explosive growth, but it's also not in decline. The stability is tied to Peoria’s largest employers—healthcare and manufacturing—which always need financial oversight. There are approximately 226 accountant jobs in the metro at any given time, creating a steady but competitive hiring market.

The Real Take-Home: After Taxes and Rent

The median salary of $83,136/year translates to a gross monthly income of about $6,928. After federal, state (Illinois has a flat 4.95% income tax), and FICA taxes, a single filer can expect to take home approximately $5,200 - $5,400/month, depending on deductions.

Now, let’s layer in the biggest local expense: rent. The average rent for a 1-bedroom apartment in Peoria is $756/month. This is a game-changer for disposable income.

Here’s a realistic monthly budget for a single accountant earning the median salary:

Category	Estimated Monthly Cost	Notes
Net Income (after taxes)	$5,300	Conservative estimate for a single filer.
Rent (1-BR avg.)	$756	Can be as low as $650 or as high as $1,100 in premium areas.
Utilities	$150	Includes electricity, gas, water, and internet.
Groceries	$400	Peoria has several major grocery chains (Hy-Vee, Kroger, Aldi).
Health Insurance	$300	Varies widely by employer; this is a typical employer-sponsored premium.
Car Payment/Insurance	$500	Car is a necessity in Peoria; public transit is limited.
Discretionary Spending	$1,500	Eating out, entertainment, savings, student loans, etc.
Remaining	$1,694	Strong savings potential.

Can they afford to buy a home? Absolutely. With a take-home pay of $5,300 and a mortgage payment (including taxes and insurance) for a $200,000 home likely around $1,300/month, a single accountant is well within the recommended 28% of gross income on housing. The median home price in Peoria County is around $165,000, making homeownership very attainable on this salary.

Where the Jobs Are: Peoria's Major Employers

Peoria’s job market is dominated by two sectors: healthcare and heavy manufacturing. This creates a stable, cyclical demand for accountants who understand corporate finance, cost accounting, and regulatory compliance.

1. OSF HealthCare: The region’s largest private employer, anchored by the massive OSF Saint Francis Medical Center. They hire accountants for everything from patient billing and revenue cycle management to corporate finance at their headquarters. Hiring is steady, with a focus on CPAs for senior roles.

2. Caterpillar Inc.: While its global HQ moved to Deerfield, Caterpillar’s presence in Peoria is still immense. The Peoria Facilities Engineering & Fabrication facility and numerous support offices employ hundreds of accountants, especially in cost accounting, project accounting, and internal audit. Knowledge of manufacturing cost systems is a huge plus here.

3. HSHS St. John’s Hospital: The other major healthcare system in town, part of a larger Catholic health network. They have their own finance department and often hire through regional shared services centers. It’s a significant source of stable, 9-to-5 accounting jobs.

4. City of Peoria & Peoria County Government: Public sector accounting is a niche but steady field. These roles focus on fund accounting, grant management, and compliance with government auditing standards (GASB). They offer great benefits and job security.

5. Rivian (Morton): Just a 15-minute drive east in Morton, the EV truck manufacturer has become a major regional employer. While many jobs are in engineering, they have a growing need for accountants familiar with rapid-growth startups, capital expenditures, and manufacturing finance.

6. Local & Regional CPA Firms: Peoria has a healthy ecosystem of mid-sized firms like Summit Accounting Group, LLC, CliftonLarsonAllen, and others. These firms serve the local business community, providing tax, audit, and consulting services. They are the primary employers for entry-level and mid-career CPAs.

Hiring Trends: There’s a growing need for accountants with ERP system experience (especially SAP and Oracle) due to the manufacturing base. Healthcare accountants must be adept with complex revenue cycle and compliance reporting. The shift to advisory services is happening here too, with firms looking for accountants who can move beyond compliance to business strategy.

Getting Licensed in IL

To use the title "Certified Public Accountant" in Illinois, you must be licensed by the Illinois Department of Financial and Professional Regulation (IDFPR). The process is rigorous but straightforward.

State-Specific Requirements:

1. Education: A bachelor’s degree with 150 semester hours, including a concentration in accounting. Specific course requirements in auditing, taxation, and business law are mandated.
2. Exam: Pass the Uniform CPA Exam (four sections: AUD, BEC, FAR, REG).
3. Experience: One year (2,000 hours) of qualifying work experience under the supervision of a licensed CPA. This can include public accounting, industry, government, or academia.
4. Ethics: Pass the AICPA Professional Ethics Exam.

Costs & Timeline:

• Exam Fees: Approximately $1,500 for all four sections (varies by state).
• Education: This is the biggest cost. If you need extra courses, expect $5,000 - $20,000 at a local institution like Illinois Central College or Bradley University.
• Licensure Fee: $150 initial application fee, plus $150 annual renewal.
• Timeline: With a 150-hour degree already in hand, you can expect to pass the exam and complete the experience requirement within 1.5 to 2 years. Starting from scratch, it could take 4-5 years total.

Insider Tip: Many firms in Peoria, especially the larger ones, offer CPA exam support, including study materials and bonuses upon passing. It’s a key question to ask during interviews.

Best Neighborhoods for Accountants

Choosing where to live in Peoria depends on your commute, lifestyle, and budget. Most accounting jobs are centrally located or in the north/south corridors. Here’s a breakdown:

Neighborhood/Area	Vibe & Commute	1-BR Rent Estimate	Best For
Downtown Peoria	Urban, walkable, restaurants & bars. 5-10 mins to most offices.	$900 - $1,300	Young professionals who want a social scene and short commute.
West Peoria / Moss Ave	Historic, charming, hilly. Older homes, tight-knit feel. 10-15 mins to downtown.	$750 - $1,100	Those who want character and don’t mind older housing stock.
North Peoria (near War Dr.)	Suburban, family-oriented, excellent schools. 15-20 mins to downtown.	$700 - $950	Accountants with families or those desiring newer amenities.
Dunlap (Northwest)	Small-town feel, top-rated schools, newer subdivisions. 20-25 mins commute.	$750 - $1,000	Those prioritizing schools and space, willing to commute.
South Peoria / Knoxville	More affordable, diverse. 10-15 mins to downtown.	$600 - $800	Budget-conscious professionals starting their careers.

Commute Reality: Traffic is minimal. A 15-minute commute is standard. Most accountants live within a 10-mile radius of their office. A car is essential; public transit (CityLink) exists but is not efficient for most professionals.

The Long Game: Career Growth

In Peoria, career growth for accountants is more about depth than vertical climbing. The path is less "Manager to Director" at the same company and more about moving between employers or shifting specialties.

• Specialty Premiums:

  • Certified Public Accountant (CPA): The gold standard. You can expect a 10-20% salary premium over non-CPAs.
  • Certified Management Accountant (CMA): Highly valued in manufacturing (Caterpillar, Rivian) for cost and management accounting roles.
  • Data Analytics & Systems: Accountants proficient in data visualization (Power BI, Tableau) and advanced Excel are in high demand for financial analysis roles, commanding a 15%+ premium.

• Advancement Paths:

  1. Public Accounting → Industry: A common path. Start at a local firm, get your CPA, then move to a corporate role at OSF or Caterpillar for better hours and pay.
  2. Staff Accountant → Senior → Manager: Within a large corporate finance department. The ceiling in Peoria for a non-executive role is typically around $120,000 - $130,000.
  3. Niche Specialization: Become the go-to expert in healthcare revenue cycle, manufacturing cost accounting, or government audits. This makes you indispensable.

• 10-Year Outlook: The 4% job growth indicates a steady, not booming, market. However, retirements will create openings. The key for long-term growth is adaptability. Cloud-based accounting (QuickBooks Online, Xero) is standard, and AI tools are beginning to automate routine tasks. The accountant who can interpret data and provide strategic insight will thrive. Peoria’s economy is tied to heavy industry and healthcare—both of which will need financial oversight for decades to come.

The Verdict: Is Peoria Right for You?

Peoria is a city of practical trade-offs. It offers financial stability and a high quality of life for the cost, but it’s not a major cultural hub.

Pros	Cons
Low cost of living makes a median salary go very far.	Limited public transit makes a car a necessity.
Stable, anchor employers (healthcare, manufacturing) provide job security.	Cultural scene is modest compared to Chicago or Nashville; fewer concerts, pro sports.
Short, stress-free commutes.	The job market is smaller; fewer "Big 4" or specialized finance roles.
Strong sense of community and Midwest friendliness.	Population is stagnant/declining; a slower pace of life.
Excellent for homeownership and raising a family.	Can feel isolated from major international airports (Chicago’s O’Hare is a 2.5-hour drive).

Final Recommendation: Peoria is an excellent choice for an accountant who values financial stability, affordability, and work-life balance over a fast-paced, high-stress career in a major metro. It’s ideal for those looking to buy a home early, start a family, or find a long-term role with a stable employer. If you crave the energy of a coastal city or the specific opportunities of Wall Street, Peoria will feel too small. But if you’re pragmatic and want to build a solid life on a strong income, Peoria is a hidden gem in the Midwest.

FAQs

1. Is the CPA license required to get a good job in Peoria?
Not always for entry-level staff roles, but it is essential for advancement to senior, manager, and controller positions. In Peoria’s corporate-heavy market, the CPA is the key that unlocks the higher salary brackets ($90k+).

2. How competitive is the job market for experienced accountants?
Moderately competitive. For every 226 jobs, you’re competing with a local talent pool from Bradley University and Illinois Central College. Having a CPA and experience with a relevant ERP system (SAP, Oracle) will make you a top candidate. Networking through the Central Illinois Chapter of the Illinois CPA Society is highly effective.

3. Do I need to know anything specific about healthcare or manufacturing accounting?
While not always required for public accounting roles, having any familiarity with revenue cycle management (for healthcare) or cost accounting (for manufacturing) will give you a significant edge when applying to OSF, HSHS, or Caterpillar. It shows you understand the local economy.

4. What’s the social scene like for young professionals?
It’s active but not massive. Downtown Peoria has a growing number of restaurants, breweries, and bars. There are young professional groups through organizations like the Peoria Chamber of Commerce and various industry associations. It’s easy to get involved, but you have to make an effort.

5. Can I work remotely for a company outside Peoria?
Yes, this is increasingly common. Peoria’s low cost of living makes it attractive for remote workers. However, ensure you understand the tax implications. If your employer is based in another state, you’ll likely owe income tax to that state, in addition to Illinois. Consult with a tax professional.