The prevailing wage is the minimum salary the Department of Labor requires H-1B employers to pay for a given occupation and location. For Financial Managers positions in Illinois, the average prevailing wage is $176k, while employers typically offer $206k — representing a 17% premium above the floor.
Employers hiring Financial Managers professionals in Illinois offer an average salary of $206k against a prevailing wage of $176k. On average, H-1B employers pay 17% above the prevailing wage for this occupation. This data is based on 18 H-1B filings.
The prevailing wage is determined by the Department of Labor based on the occupation, skill level, and geographic area. It ensures that hiring foreign workers does not adversely affect the wages of similarly employed U.S. workers. Employers must pay H-1B workers at least the prevailing wage or the actual wage paid to similar employees, whichever is higher.
The average prevailing wage for Financial Managers in Illinois is $176k. Employers typically offer $206k, which is a 17% premium above the prevailing wage, based on 18 filings.
Prevailing wages vary by geographic region based on local cost of living and labor market conditions. Illinois's prevailing wage for Financial Managers of $176k reflects the regional labor market. Employers should consult the DOL's Online Wage Library for the most current figures.