Physician · Salary Comparison · 2026
Physician Salary: Chicago, IL vs New York, NY
Side-by-side comparison of salary, taxes, cost of living, and take-home pay for Physicians in Chicago, IL and New York, NY, based on BLS OEWS 2026 data.
1Which City Pays More After Tax?
Higher Gross Salary
✓ New York, NY
$235,000 vs $250,000
Better Purchasing Power
✓ Chicago, IL
$219,626 vs $133,690
Best Take-Home (COL-Adj)
✓ Chicago, IL
$192,890 vs $115,068
2
Detailed Comparison
| Metric | Chicago, IL | New York, NY | Diff |
|---|---|---|---|
| Median Annual Salary | $235,000 | $250,000▲ | -$15,000 |
| 25th Percentile | $177,000 | $188,000▲ | -$11,000 |
| 75th Percentile | $308,000 | $328,000▲ | -$20,000 |
| 90th Percentile | $382,000 | $408,000▲ | -$26,000 |
| Cost of Living Index | 107 | 187 | -80 |
| State Income Tax | 4.95%▲ | 6.85% | -1.8999999999999995% |
| COL-Adjusted Median | $219,626▲ | $133,690 | +$85,936 |
| Est. Annual Take-Home | $206,392 | $215,177▲ | -$8,785 |
| COL-Adj. Take-Home | $192,890▲ | $115,068 | +$77,822 |
| Total Employment | 12,000 | 22,000 | -10,000 |
▲ = Higher value wins for this metric. Diff = Chicago, IL minus New York, NY.
3Summary Analysis
On paper, New York, NY pays $15,000 more (median: $235,000 vs $250,000). However, after adjusting for cost of living (index 107 vs 187), Chicago, IL provides better purchasing power ($219,626 vs $133,690 equivalent). Chicago, IL has the lower state tax rate (4.95% vs 6.85%).
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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.