Investment Banker · Salary Comparison · 2026
Investment Banker Salary: Chicago, IL vs Boston, MA
Side-by-side comparison of salary, taxes, cost of living, and take-home pay for Investment Bankers in Chicago, IL and Boston, MA, based on BLS OEWS 2026 data.
1Which City Pays More After Tax?
Higher Gross Salary
✓ Boston, MA
$141,000 vs $171,000
Better Purchasing Power
✓ Chicago, IL
$131,776 vs $105,556
Best Take-Home (COL-Adj)
✓ Chicago, IL
$115,734 vs $92,657
2
Detailed Comparison
| Metric | Chicago, IL | Boston, MA | Diff |
|---|---|---|---|
| Median Annual Salary | $141,000 | $171,000▲ | -$30,000 |
| 25th Percentile | $108,570 | $131,670▲ | -$23,100 |
| 75th Percentile | $180,480 | $218,880▲ | -$38,400 |
| 90th Percentile | $225,600 | $273,600▲ | -$48,000 |
| Cost of Living Index | 107 | 162 | -55 |
| State Income Tax | 4.95%▲ | 5% | -0.04999999999999982% |
| COL-Adjusted Median | $131,776▲ | $105,556 | +$26,220 |
| Est. Annual Take-Home | $123,835 | $150,104▲ | -$26,269 |
| COL-Adj. Take-Home | $115,734▲ | $92,657 | +$23,077 |
| Total Employment | 28,000 | 33,600 | -5,600 |
▲ = Higher value wins for this metric. Diff = Chicago, IL minus Boston, MA.
3Summary Analysis
On paper, Boston, MA pays $30,000 more (median: $141,000 vs $171,000). However, after adjusting for cost of living (index 107 vs 162), Chicago, IL provides better purchasing power ($131,776 vs $105,556 equivalent). Chicago, IL has the lower state tax rate (4.95% vs 5%).
Data: U.S. Bureau of Labor Statistics OEWS · 2026 · Cost-of-living indices from composite metro area data. Take-home estimates approximate only — consult a tax professional for accurate figures.