As of April 01, 2025, the average annual salary for an Accountant I in Elgin, IL is $62,929. Salary.com reports that pay typically ranges from $57,770 to $69,351, with most professionals earning between $53,072 and $75,198.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $68,239 | $5,687 | $1,312 | $33 |
| Average | $61,920 | $5,160 | $1,191 | $30 |
| 25th Percentile | $56,843 | $4,737 | $1,093 | $27 |
An entry-level Accountant I with under 1 year experience makes about $62,544. With less than 2 years of experience, a mid-level Accountant I makes around $63,121. After 2-4 years, the Accountant I pay rises to about $64,559. Those senior Accountant I with 5-8 years of experience earn roughly $64,846, and those Accountant I having 8 years or more experience are expected to earn about $65,038 on average.
| Levels | Salary |
|---|---|
| Entry Level Accountant I | $62,544 |
| Intermediate Level Accountant I | $63,121 |
| Senior Level Accountant I | $64,559 |
| Specialist Level Accountant I | $64,846 |
| Expert Level Accountant I | $65,038 |
| Entry Level | 1% |
| Mid Level | 2% |
| Senior Level | 4% |
| Top Level | 5% |
| Experienced | 5% |
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Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.
Accounts Receivable: Accounts receivable is a legally enforceable claim for payment held by a business for goods supplied and/or services rendered that customers/clients have ordered but not paid for. These are generally in the form of invoices raised by a business and delivered to the customer for payment within an agreed time frame. Accounts receivable is shown in a balance sheet as an asset. It is one of a series of accounting transactions dealing with the billing of a customer for goods and services that the customer has ordered. These may be distinguished from notes receivable, which are debts created through formal legal instruments called promissory notes.
Internal Control: Internal control, as defined by accounting and auditing, is a process for assuring of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies.
| Skill | Salary | Demand |
|---|---|---|
|
Coordination
|
$66,705 |
6%
|
|
Leadership
|
$66,705 |
6%
|
|
Collaboration
|
$65,446 |
4%
|
|
Initiative
|
$65,446 |
4%
|
|
Analysis
|
$65,446 |
4%
|
|
Finance and Accounting
|
$65,446 |
4%
|
