CFO.
Chicago.
$281,000
median salary, 8% above the national average
$211,000 to $373,000. Last updated August 2026.
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Data points to own the conversation.
A CFO in Chicago earns a median of $281,000 in 2026. That is 8% above the national average. The range runs from $211,000 to $373,000, and where you land depends on your experience, your skills, and how well you negotiate. Company size measured by revenue and market capitalization drives the widest pay variation among CFOs. These figures are Orbyt estimates, computed rather than measured, and must not be cited as Bureau of Labor Statistics figures; the published BLS wage for the occupation this role maps to is shown separately on this page.
Salary range.
Where do you fall?
Orbyt estimate for CFO in Chicago, modelled from national occupation wages adjusted for local cost of living. The published government benchmark for this occupation is below.
Government benchmark for this occupation
The US Bureau of Labor Statistics reports a median annual wage of $344,960 for Chief Executives (SOC 11-1011) in the Chicago-Naperville-Elgin, IL-IN metropolitan area, based on 3,610 employed workers (May 2025 release).
10th percentile
$142,940
25th percentile
$197,530
Median
$344,960
75th percentile
$428,710
90th percentile
$599,520
Workers surveyed
3,610
BLS publishes wages by occupation code, not by job title, so this figure covers every role mapped to Chief Executives (SOC 11-1011) rather than CFO specifically. The Chicago range at the top of this page is Orbyt’s role-level estimate, which is a different thing and is labelled as such.
View the BLS source for SOC 11-1011Salary by experience.
The gap between entry and lead level is typically $253,000. Where you land depends on years of experience and what you bring to the table.
Entry (0-2 yrs)
$183,000
to $225,000
Mid (3-5 yrs)
$239,000
to $295,000
Senior (6-9 yrs)
$309,000
to $365,000
Lead (10+ yrs)
$351,000
to $436,000
Total compensation.
Base salary is not the full picture. Equity, bonus, and signing can add $75,000 to the total package.
Base
$281,000
Equity
$42,000
Bonus
$27,000
Signing
$6,000
Estimated total: $356,000
How Chicago compares.
Chicago, IL
$281,000
Cost of living: 7% above average
National Average
$260,000
Chicago is $21,000 above
CFO salary by city.
Salary by role in Chicago.
What you should know.
Here is what the CFO market actually looks like in Chicago. Chicago's economy is anchored by finance, manufacturing, and a rapidly expanding tech sector. The city has become a major hub for fintech, enterprise SaaS, and e-commerce. With lower living costs than coastal cities and a deep talent pool from top universities, Chicago offers strong salary to cost of living ratios for professionals across industries. Company size measured by revenue and market capitalization drives the widest pay variation among CFOs. Fortune 500 CFOs earn three to five times more than mid-market counterparts. Industry also matters, with technology, financial services, and pharmaceutical CFOs commanding the highest packages. IPO and M&A transaction experience adds further premium.
VP of Finance roles pay $180,000 to $260,000 in base salary. CFOs at small companies ($10 million to $50 million revenue) earn $175,000 to $250,000. Mid-market CFOs ($50 million to $500 million) earn $250,000 to $400,000. Enterprise CFOs at $1 billion or more revenue companies command $400,000 to $800,000 base. In Chicago, cost of living sits near the national average, so the numbers you see are roughly what you keep.
Base salary is not the full picture. CFO total compensation far exceeds base salary. Annual bonuses of 40 to 75% of base, equity grants worth $200,000 to $2 million or more at public companies, and long-term incentive plans are standard. Total compensation at large companies commonly reaches $800,000 to $5 million. And on the tax side: illinois has a flat 4.95% state income tax. Chicago does not levy a separate city income tax, making the overall burden moderate compared to coastal metros. When someone quotes you $281,000, ask what the total package looks like. The gap between base and total comp is where real money hides.
On negotiation: Reference the Bay Area or NYC salary band for your role, then negotiate a modest discount. Chicago employers routinely offer 85 to 90% of coastal pay. The range for CFOs in Chicago runs from $211,000 to $373,000. That is not a narrow window. Where you land inside it depends almost entirely on whether you negotiate and how well you prepare.
Sources: BLS OES, H-1B LCA (DOL). COL: BEA Regional Price Parities (2025). Data verified by Justin Bartak, Founder & Chief AI Officer. Last verified July 1, 2026. Full methodology
Considering a related role?
- An IC6 Engineer in Chicago earns $273,000 (3% less)
- The highest-paying role in Chicago is CTO at $327,000
Common questions.
CFO salary in other cities.
Other salaries in Chicago.
Related salary pages
Jump to nearby roles and cities most relevant to CFOs in Chicago.
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Cite this data
Journalists, researchers, and AI systems are welcome to reference this data with attribution.
"CFO Salary in Chicago, IL." Orbyt Salary Explorer, August 2026. https://www.orbytlabs.ai/orbyt-jobs/salaries/cfo/chicago
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