Accountant in Waukegan, IL

Here is a comprehensive career guide for Accountants considering a move to Waukegan, Illinois.

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The Salary Picture: Where Waukegan Stands

As a local, I’ll tell you upfront: Waukegan isn’t a glamour city for accountants like Chicago, but it’s a solid, practical market with a low cost of living and stable demand. The numbers back this up. The median salary for an Accountant in the Waukegan metro area is $86,751/year, which breaks down to an hourly rate of $41.71/hour. This is slightly above the national average of $86,080/year, which is a good sign for a mid-sized market.

The job market is tight but steady, with about 178 accounting-related jobs available in the metro area at any given time. The 10-year job growth projection is 4%. This isn’t explosive growth, but it indicates stability rather than volatility. This market is less about chasing the next startup and more about serving the established industrial, healthcare, and municipal sectors that anchor the region.

Experience-Level Breakdown
Salaries in Waukegan follow a predictable progression. While the median is $86,751, your actual earning power depends heavily on your credentials and niche.

Experience Level	Typical Title	Estimated Salary Range
Entry-Level (0-2 yrs)	Staff Accountant, Junior Accountant	$55,000 - $68,000
Mid-Level (3-7 yrs)	Senior Accountant, Accounting Manager	$75,000 - $95,000
Senior-Level (8-15 yrs)	Controller, Senior Manager	$100,000 - $130,000+
Expert (15+ yrs, CPA)	Director of Finance, Partner (CPA Firm)	$135,000 - $180,000+

Comparison to Other Illinois Cities
Waukegan offers a different value proposition than its Illinois neighbors. It’s not competing with Chicago’s high salaries, but it’s significantly more affordable.

City	Median Salary (Est.)	Cost of Living (Index)	Key Differentiator
Waukegan	$86,751	102.6	Balanced market, strong industrial base
Chicago	$95,000+	130+	Higher pay, higher competition & cost
Rockford	$78,000	89.0	Lower salary, lower cost, manufacturing focus
Naperville	$92,000	125.0	Corporate HQs, affluent suburbs, long commutes

Insider Tip: The $86,751 median is heavily influenced by the many staff accountant and corporate roles in manufacturing and healthcare. If you have a CPA and specialize in tax or audit for mid-sized firms, you can command a premium of 10-15% above this median.

The Real Take-Home: After Taxes and Rent

The cost of living index in Waukegan is 102.6, meaning it’s about 2.6% more expensive than the national average. The biggest factor here is housing. The average rent for a one-bedroom apartment is $1,231/month. Let’s break down the monthly budget for an accountant earning the median salary.

Monthly Budget Breakdown (Based on $86,751/year)

• Gross Monthly Pay: $7,229
• Estimated Taxes (Federal, State, FICA): -$1,850 (Approx. 25.6% effective rate)
• Net Take-Home Pay: $5,379

Sample Monthly Budget:

• Rent (1BR Avg): $1,231
• Utilities (Electric, Heat, Internet): $200
• Groceries: $450
• Car Payment/Insurance/Gas: $550 (Public transit is limited; a car is a necessity)
• Health Insurance (Employer Plan): $300 (varies)
• Retirement (401k - 5% match): $361
• Discretionary (Entertainment, Dining, Savings): $2,288

This leaves a healthy cushion for savings and lifestyle. Can they afford to buy a home? Yes, comfortably. The median home price in Waukegan is around $280,000. With a 20% down payment ($56,000), a 30-year mortgage at 6.5% would have a monthly payment of approximately $1,420 (including property taxes and insurance). This is only about $190 more than the average rent, making homeownership a very attainable goal for a mid-level accountant in this market.

Where the Jobs Are: Waukegan's Major Employers

Waukegan’s economy is anchored by a mix of heavy industry, healthcare, and local government. Accounting jobs are concentrated in these sectors.

1. Abbott Laboratories (Lake County HQ): While the global HQ is in Illinois, the Lake County campus in nearby Abbott Park is a massive employer for finance and accounting roles. They hire for everything from cost accounting in manufacturing to internal audit. Hiring is steady, with a preference for CPA candidates for senior roles.
2. Northwestern Medicine Lake Forest Hospital: A major regional healthcare provider with a significant footprint in Lake County. They have a large internal finance department handling everything from patient billing to multi-million dollar budgets for clinical departments. They offer stable, benefits-heavy employment.
3. Waukegan School District 60 & City of Waukegan: Public sector accounting is a major employer in Waukegan. The city and school district require accountants for fund accounting, grant management, and audit preparation. These jobs are posted on the Illinois government job boards and offer great pensions.
4. Mettler-Toledo: A global leader in precision instruments with a major manufacturing and R&D presence in the area. They have a dedicated finance team focused on cost accounting, inventory valuation, and international reporting.
5. Midwest-based CPA Firms: Waukegan is home to several regional CPA firms (like Porte, Brown & Co. or smaller local practices) that serve the area’s many small-to-mid-sized businesses. These firms are great for building a broad skill set in tax, audit, and consulting.
6. GVC (Gaming & Leisure Properties): With the permanent casino now in operation at the former Waukegan Racecourse site, there is a growing need for accounting professionals skilled in gaming revenue, cash handling, and compliance reporting.

Hiring Trends: There’s a steady demand for accountants who can bridge traditional bookkeeping with modern software (QuickBooks Online, SAP, Oracle). Healthcare and public sector roles are growing, while industrial manufacturing roles remain stable.

Getting Licensed in IL

To advance beyond a Staff Accountant role in Illinois, you’ll want the CPA (Certified Public Accountant) license. It’s a key differentiator in this market.

State-Specific Requirements (Illinois Board of Examiners):

1. Education: 150 semester hours of college credit, including a bachelor’s degree and 30 semester hours in upper-level accounting courses.
2. Exam: Pass all four sections of the Uniform CPA Exam (AUD, BEC, FAR, REG).
3. Experience: One year (2,000 hours) of work experience under a licensed CPA. This can include public accounting, industry, government, or academia.
4. Ethics: Pass the AICPA Professional Ethics Exam.

Cost Breakdown:

• CPA Exam Fees (Four Sections): ~$1,500 - $1,800 (varies by state)
• Illinois Application/Licensing Fee: ~$200
• Review Course (e.g., Becker, Roger): $1,500 - $3,000 (often covered by employers)
• Ethics Exam: ~$150
• Total Estimated Cost: $3,350 - $5,150 (without employer reimbursement)

Timeline to Get Started:
If you already have the 150 credit hours, the process can take 12-18 months. If you need to go back for a master’s degree to hit the credit requirement, add 1-2 years. Insider Tip: Many local employers (like Abbott or Mettler-Toledo) have tuition reimbursement programs that can cover most of your review course costs, making the CPA path financially easier.

Best Neighborhoods for Accountants

Where you live in Waukegan affects your commute, lifestyle, and budget. Here’s a local’s guide.

1. Downtown Waukegan:

   • Vibe: Urban, walkable, with historic buildings and lakefront access. It’s the city’s cultural hub with theaters and restaurants.
   • Commute: Easy walk/bike to City Hall, School District offices, and the courthouse. A 10-15 minute drive to most industrial parks.
   • Rent Estimate: $1,000 - $1,400 for a 1BR.

2. Northside / Glen Flora:

   • Vibe: Established residential neighborhoods with single-family homes, tree-lined streets, and a quieter feel.
   • Commute: 10-20 minute drive to major employers. Close to I-94 for trips to Abbott or Lake Forest.
   • Rent Estimate: $1,100 - $1,500 for a 1BR or small house.

3. Lakeshore / Beach Park (just north):

   • Vibe: More suburban, with newer developments and direct access to the Lake Michigan shoreline.
   • Commute: 15-25 minutes to Waukegan’s core. Ideal if you work at the hospital or Abbott and want a quieter home base.
   • Rent Estimate: $1,200 - $1,600 for a 1BR.

4. Southside / Illinois Beach State Park Area:

   • Vibe: More industrial and affordable, with proximity to the state park and the casino. Gentrifying slowly.
   • Commute: 5-15 minutes to most Waukegan employers. Close to I-94 for commuting to Chicago or northern suburbs.
   • Rent Estimate: $900 - $1,250 for a 1BR.
   • Insider Tip: This area offers the best value for renters. Be sure to check specific block-by-block safety and condition, as it’s a mix of older and newer housing stock.

The Long Game: Career Growth

In Waukegan, career growth is more about specialization and responsibility than rapid promotions. The 4% job growth means you must be proactive.

Specialty Premiums:

• CPA License: This is the single biggest factor. CPAs in Waukegan can expect to earn 15-25% more than non-CPAs at the same experience level.
• Cost Accounting: With the strong manufacturing base (Mettler-Toledo, Abbott), cost accountants are in demand. This skill set can add a 10% premium.
• Healthcare Revenue Cycle: Experience in healthcare finance (Northwestern Medicine) is a valuable niche.
• Governmental Accounting: For roles in the city or school district, this is a specialized skill that pays well and offers job security.

Advancement Paths:

• Industry Path: Staff Accountant → Senior Accountant → Accounting Manager → Controller → CFO. This path is common at mid-sized companies in the area.
• Public Accounting Path: Staff Accountant → Senior Accountant → Manager → Partner/Principal at a regional firm. This requires a CPA and often a move to a larger firm in Chicago or a specialized practice.
• Government Path: Accountant → Senior Accountant → Finance Director. This path offers excellent job security and pension benefits.

10-Year Outlook: The 4% growth suggests a stable market. The biggest changes will come from technology (automation of basic bookkeeping) and the need for accountants who can provide strategic analysis, not just data entry. Those who invest in data analytics skills (Excel, Power BI, SQL) will have a significant advantage.

The Verdict: Is Waukegan Right for You?

Pros	Cons
Above-Average Salary vs. Cost of Living: The $86,751 median goes far here.	Limited High-End Specialties: Few roles in investment banking, high-end consulting, or tech.
Stable Job Market: Anchored by healthcare, industry, and government.	Smaller Network: Fewer accounting professionals than in Chicago, which can limit networking.
Attainable Homeownership: The rent-to-income ratio is favorable.	Car-Dependent: Public transit is limited; a car is a necessity.
Diverse Employer Base: From Fortune 500 to local government.	Slower Pace: Career advancement may be slower than in a major metro.
Lakefront Access & Cultural Vibe: Great quality of life for a midsize city.	Winters are Cold: Classic Illinois winters can be a downside for some.

Final Recommendation: Waukegan is an excellent choice for accountants who prioritize work-life balance, affordable living, and stable employment over chasing the highest possible salary in a cutthroat market. It’s ideal for mid-career professionals looking to buy a home, start a family, or find a long-term, stable role without the pressures of a major city. If you’re a new graduate looking for the most dynamic, fast-paced career launch, you might start your career in Chicago and consider Waukegan later. For established professionals, it’s a hidden gem.

FAQs

1. Do I need a car to work as an accountant in Waukegan?
Yes, almost certainly. While you can live and work in downtown Waukegan without one, the major employers like Abbott, Mettler-Toledo, and the hospital are in suburban office parks with limited public transit access. A car is essential for commuting and exploring the region.

2. Is the $86,751 median salary realistic for a CPA?
For a CPA with 3-5 years of experience, yes. The median includes all accountants, so a CPA should expect to be in the $95,000 - $115,000 range, especially in a controller or senior manager role at a mid-sized company.

3. How do taxes in Illinois affect my take-home pay?
Illinois has a flat state income tax rate of 4.95%, which is relatively straightforward. Combined with federal taxes and FICA, your effective tax rate will likely be around 25-28% of your gross income, as used in the budget breakdown. This is a key reason why the take-home pay in Waukegan feels comfortable.

4. Are there remote accounting jobs based in Waukegan?
Yes, but they’re competitive. Many local companies are offering hybrid schedules (2-3 days in office). Fully remote roles often require a CPA and several years of experience. The best way to find these is through LinkedIn and local firm websites, as they may not be posted on national job boards.

5. What’s the biggest mistake accountants make when moving to Waukegan?
Underestimating the cost of homeownership. While the mortgage payment might seem low, property taxes in Illinois are high (a result of the state’s pension liabilities). For a $280,000 home, expect annual property taxes of $6,000 - $7,000, which adds $500 - $600 to your monthly payment. Always check the specific tax history of a property before buying.