Accountant in Rockford, IL

A Career Analyst's Guide to Accounting in Rockford, IL

By: A Local Career Analyst

If you're an accountant looking for a place with a low cost of living, stable employment, and a community that values its industrial roots, Rockford, Illinois, deserves a serious look. Forget the flashy headlines of Chicago or Madison; Rockford offers a grounded, practical environment where your dollar stretches further and your skills are in steady demand. As someone who has watched this city's economy evolve from its manufacturing heyday to a more diversified hub, I'll give you the unvarnished truth about building an accounting career here.

This guide is built on hard data and local knowledge. We'll dissect the salary, the cost of living, the real job market, and the day-to-day life of an accountant in the Forest City.

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The Salary Picture: Where Rockford Stands

Let's get straight to the numbers. The accounting profession in the Rockford metro area (which includes parts of Winnebago, Boone, and Ogle counties) is modest but stable. According to the most recent data from the U.S. Bureau of Labor Statistics (BLS), the median annual salary for Accountants and Auditors in the Rockford metropolitan area is $83,523 per year. This breaks down to an hourly rate of $40.16.

It's important to understand that this median figure sits slightly below the national average of $86,080 per year. This is a common pattern for Midwestern cities with a lower cost of living. The trade-off is that your living expenses are significantly lower, which we'll break down later.

Here’s how salaries typically break down by experience level in the Rockford market. Keep in mind these are estimates based on local job postings and industry surveys; the median of $83,523 generally represents a strong mid-career professional.

Experience Level	Typical Years of Experience	Estimated Salary Range (Rockford)	Key Responsibilities
Entry-Level	0-2	$55,000 - $65,000	Bookkeeping, data entry, assisting with month-end close, basic reconciliations.
Mid-Career	3-7	$70,000 - $90,000	Managing GL, preparing financial statements, budgeting, supervising junior staff.
Senior/Manager	8-15	$95,000 - $120,000+	Overseeing accounting teams, strategic financial planning, internal controls, audit liaison.
Expert/Controller/CFO	15+	$130,000 - $200,000+	Executive-level financial strategy, risk management, investor relations, M&A support.

How does Rockford compare to other Illinois cities? It's a middle-ground market.

• Chicago (Metro): Salaries are significantly higher (median ~$95,000+), but the cost of living, especially housing, is more than double. The competition is also fiercer.
• Peoria: Similar in size and cost of living to Rockford, with salaries also hovering around the $83,000 mark. The job market is heavily tied to healthcare (OSF, Caterpillar).
• Springfield: Slightly lower salaries (median ~$78,000), with a government-heavy job market (state capital).

Insider Tip: The 4% 10-year job growth for the metro is modest, reflecting a stable, not booming, market. This means opportunities are reliable but won't appear overnight. Networking is crucial. The 292 jobs in the metro area isn't a huge number, so finding the right role often means being persistent and leveraging local connections through groups like the Rockford chapter of the Illinois CPA Society.

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The Real Take-Home: After Taxes and Rent

A salary is just a number until you see how it plays out in your monthly budget. Rockford's low cost of living is its biggest selling point. Let's break down the finances for an accountant earning the median salary of $83,523.

Monthly Budget Breakdown (Gross Pay: $6,960/month)

Category	Estimated Cost	Notes
Federal & State Taxes	~$1,750	Varies by filing status, deductions, etc. (Estimate for single filer)
Social Security & Medicare	~$532	Standard 7.65% deduction
Health Insurance	~$200	Employer-sponsored plan; can vary
401(k)/Retirement (5%)	~$348	Pre-tax savings
Net Take-Home Pay	~$4,130	This is your effective monthly budget
Average 1BR Rent	$785	Citywide average; can be lower or higher
Utilities (Elec, Gas, Internet)	$200	Average for a 1BR apartment
Transportation (Gas/Car)	$250	Rockford is a car-dependent city
Groceries	$350
Discretionary (Eating out, fun)	$500
Remaining Buffer	$2,045	This is a very healthy buffer for savings, debt, or unexpected costs.

Can they afford to buy a home? Absolutely. This is where Rockford truly shines for a professional earning the median salary. The median home price in the Rockford area is approximately $165,000. Using the 28/36 rule (no more than 28% of gross income on housing), an accountant earning $83,523 could comfortably afford a mortgage payment of around $1,950 per month. With a 20% down payment on a $165,000 home ($33,000), the monthly mortgage, taxes, and insurance would likely be under $1,200. This is well within reach, especially after saving for a couple of years. The Cost of Living Index of 90.1 (where the U.S. average is 100) quantifies this advantage, showing you're paying about 10% less than the national average for goods and services.

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Where the Jobs Are: Rockford's Major Employers

The Rockford job market for accountants is anchored by a few key sectors: healthcare, manufacturing, and a growing professional services sector. The 292 jobs in the metro are spread across these areas. Here’s a look at where you should be directing your applications:

1. Healthcare Giants: Rockford is a regional healthcare hub.

   • Mercyhealth: A massive system with multiple campuses. They have large, in-house finance departments for everything from patient accounting to system-wide financial reporting. Hiring is steady, with a focus on CPAs for roles like Revenue Cycle Analysts and Financial Managers.
   • SwedishAmerican Hospital (Part of UW Health): Another major employer with a significant need for accountants specializing in hospital financial operations and grant accounting.

2. Manufacturing & Aerospace (The Core): This is Rockford's legacy, and it's still a huge employer.

   • Collins Aerospace (a Raytheon Technologies company): A top-tier employer with a complex global supply chain. Their finance teams handle everything from government contract accounting (heavy on compliance) to corporate financial planning. They actively recruit from local universities and value CPA certification.
   • Woodward, Inc.: A leader in aerospace and industrial energy control systems. Similar to Collins, their accounting needs are sophisticated, with opportunities in cost accounting, internal audit, and financial analysis. They offer strong benefits and career paths.

3. Professional Services & Government:

   • Local & Regional CPA Firms: Firms like Sikich (national firm with a strong Rockford office), Eide Bailly, and several excellent local firms (e.g., Burdick & Associates, P.C.) provide public accounting services to the region's businesses. This is a classic path for early-career CPAs to gain broad experience.
   • State of Illinois & Local Government: The City of Rockford, Winnebago County, and Rockford Public Schools (RPS 205) all have finance departments requiring accountants, especially in budgeting, auditing, and payroll. These roles offer stability and great benefits.

Hiring Trends: There's a consistent demand for Cost Accountants in manufacturing and Revenue Cycle Specialists in healthcare. The rise of remote work has also opened up opportunities with Chicago-based firms who value Rockford's talent at a lower cost.

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Getting Licensed in IL

To practice as a CPA in Illinois, you must meet the state's specific requirements, governed by the Illinois Board of Examiners (IBOE). Here’s a practical roadmap:

1. Education: You need 150 semester hours of college credit, with a bachelor's degree and specific coursework in accounting and business. This is non-negotiable. Many Rockford professionals complete their 150 credits through Rock Valley College (for associate's and continuing ed) and transfer to Northern Illinois University (NIU) or University of Illinois Chicago (UIC) for their bachelor's and master's degrees.

2. The Exam (CPA Evolution): You must pass all four sections of the Uniform CPA Examination. This is a significant time commitment—most candidates spend 300-400 hours studying over 6-18 months. Costs include application fees ($150-200), exam fees (~$1,000 total), and review courses ($1,500-$3,000+).

3. Experience: Illinois requires one year (2,000 hours) of qualifying experience under the supervision of an active CPA. This can be in public accounting, industry, government, or academia.

4. Ethics Exam: After passing the CPA exam, you must pass the Illinois Professional Responsibility Examination.

Timeline & Cost: From start to finish, expect 1.5 to 3 years and a total out-of-pocket cost of $4,000 - $6,000 for exam fees and study materials (excluding college tuition). The IBOE website is the official source for all current requirements and forms.

Insider Tip: Start networking with local CPAs before you finish your education. The Rockford accounting community is tight-knit. A recommendation from a local CPA can be invaluable when you're seeking that required experience.

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Best Neighborhoods for Accountants

Rockford is a city of distinct neighborhoods, each with its own character and commute profile. As a car-dependent city (public transit is limited), your commute to the major employers (most of which are in the eastern half of the city) is a key factor.

1. The East Side / Perryville Corridor: This is where most of the corporate offices are located, including Collins Aerospace, Woodward, and major healthcare facilities. It's a modern, suburban-style area with newer apartment complexes and single-family homes. Commute: Excellent to most major employers (5-15 mins). Rent for 1BR: $900 - $1,200.
2. Downtown Rockford: The heart of the city, undergoing significant revitalization. You'll find historic lofts, new apartment buildings, and a growing arts and restaurant scene. Best for urban dwellers who want to walk to coffee shops and events. Commute: 10-20 minutes to eastern employers. Rent for 1BR: $850 - $1,100.
3. Rockton / Roscoe (North Suburbs): Just north of the city line, these towns offer a more suburban, family-friendly feel with excellent schools. Commutes are reasonable via US-51 or I-39. Commute: 15-25 minutes to downtown/east side. Rent for 1BR: $950 - $1,300.
4. The Near West Side: Close to downtown but more residential. It's more affordable than the East Side but can be mixed in terms of housing stock. Commute: 10-15 minutes to downtown, 20-25 to east side. Rent for 1BR: $700 - $900.
5. Northwest Rockford (Loves Park area): A blend of commercial and residential areas. It's more affordable and has easy access to I-39 for commuting north or south. Commute: 15-25 minutes to major employers. Rent for 1BR: $750 - $950.

Insider Tip: If your goal is to minimize your commute and you work for one of the major eastern employers, the East Side is unbeatable. If you want character and a walkable lifestyle, invest in a downtown loft. For the best value and a quiet residential life, look at the Near West Side or Northwest areas.

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The Long Game: Career Growth

A 4% job growth over 10 years indicates stability, not explosive growth. Career advancement in Rockford requires a strategic approach.

• Specialty Premiums: Certain specializations can boost your earnings above the median. Cost Accounting and Financial Analysis are highly valued in the aerospace and manufacturing sector (Collins, Woodward) and can command a 10-15% premium. Healthcare Revenue Cycle expertise is also in demand. Generalist accountants will find more competition.
• Advancement Paths: The typical path is to start in public accounting (for 2-3 years) to get broad exposure, then move into industry (manufacturing/healthcare) for a higher salary and better work-life balance. Promotion to Controller or CFO often requires a CPA and, for larger companies, an MBA. Networking within the local chapters of the Illinois CPA Society and the Institute of Management Accountants (IMA) is critical for these senior roles.
• 10-Year Outlook: The core industries (healthcare, aerospace) are expected to remain stable. The key to long-term growth will be adapting to new technologies (data analytics, automation in accounting) and potentially seeking remote roles with national companies while living in Rockford for the low cost of living. The local market will be slow to adopt new tech, creating an opportunity for those who bring those skills.

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The Verdict: Is Rockford Right for You?

Pros	Cons
Extremely Low Cost of Living: Your $83,523 salary goes much further than in most metros. Homeownership is very attainable.	Slower Job Market: With only 292 jobs and 4% growth, you can't be as picky as in a major city. Finding a new role may take time.
Stable, Established Employers: Major companies like Collins Aerospace and Mercyhealth provide reliable, long-term career paths.	Limited Cultural/Nightlife Scene: Compared to Chicago or Madison, options are more limited. It's a "big small town."
Short, Easy Commutes: Living and working in the same city means you reclaim hours of your week.	Car Dependent: You will need a reliable vehicle. Public transportation is not a viable primary option.
Tight-Knit Professional Community: Easier to network and build a reputation in the local business scene.	Economic Reliance on a Few Sectors: A downturn in aerospace or healthcare could impact the local job market significantly.
Outdoor Recreation: The Rock River, nearby state parks, and a strong biking trail system offer great quality of life.	Lack of Diversity: The population is less diverse than national averages, which may impact your social experience.

Final Recommendation:

Rockford is an excellent choice for accountants who prioritize financial stability, homeownership, and work-life balance over high-octane career climbing and urban excitement. It's ideal for mid-career professionals looking to buy a home, start a family, or simply enjoy a lower-stress lifestyle. It's also a good launching pad for early-career accountants to get solid experience at a major corporation without the crushing cost of living of a coastal city.

It's not the right fit if: You are early in your career and crave a fast-paced, big-city environment with endless networking events and job-hopping opportunities. If your primary goal is to maximize salary above all else, a larger market like Chicago might serve you better, even with the higher costs.

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FAQs

1. How does the job search work in a smaller market like Rockford?
It's more about relationships than online applications. Use LinkedIn to connect with controllers and HR managers at target companies (Collins, Woodward, Mercyhealth). Attend events hosted by the Illinois CPA Society's Rockford chapter. Many jobs are filled through referrals before they're ever posted publicly.

2. Is the CPA license truly necessary for a good career here?
For the highest-paying roles (Controller, CFO, Partner at a CPA firm), it's essential. In industry, you can have a solid career as a Staff Accountant or Senior Accountant without a CPA, especially with a strong work history. However, having the CPA opens doors to leadership and significantly higher earning potential.

3. What's the commute like from the suburbs?
Rockford's geography makes most commutes manageable. From Rockton/Roscoe (north), commute times are 15-25 minutes to the east side. From the southern suburbs (like Pecatonica or Winnebago), it's 20-30 minutes. The main arteries are US-51 (North/South), US-20 (East/West), and I-39/90 (a beltway on the west). Traffic is minimal compared to larger cities.

4. Are there opportunities for remote work?
Yes, and this is a growing trend. Many local companies, especially in professional services, have adopted hybrid models. Furthermore, companies based in Chicago or Milwaukee sometimes hire Rockford-based accountants