Accounting Schools in Illinois

At the state capitol in Springfield, accountants balance the state budget and audit financial filings. At Chicago's major international corporations, accountants file complex tax reports and evaluate financial risks. College graduates with an accounting degree also work in financial services, securities, bookkeeping, compliance, and budgeting.

Attending an accounting school in Illinois can prepare you for these in-demand roles. According to the Illinois Department of Employment Security (IDES), the state's fastest-growing industries in May 2024 included professional and business services, government agencies, and financial activities — all areas that employ accounting graduates.

Are you considering accounting schools in Illinois? With an associate degree, you can join over 52,000 bookkeepers and accounting clerks in the state. If you earn a bachelor's degree, you can become an accountant. You can also take your career to the next level with a graduate degree. Before you apply to accounting programs in Illinois, check out our resources on the state's employment trends, salary data, and college costs.

Why Go to College for Accounting in Illinois?

Illinois is home to many institutions, including private schools like the University of Chicago and Northwestern University as well as public schools like the University of Illinois Urbana-Champaign. Many Illinois colleges and universities offer online programs for students seeking greater flexibility.

Illinois also supports its college students with state-run financial aid programs: For example, the Illinois Student Assistance Commission manages programs that support veterans, teachers, and nurses as they earn a degree.

Illinois accountants and auditors earned an average pay of $85,790 in 2023, according to the U.S. Bureau of Labor Statistics (BLS). Projections Central data projects 4% growth for accountant jobs in the state from 2022 to 2032. Accounting schools in Illinois prepare graduates for careers like staff accountant, internal auditor, certified public accountant (CPAs), and more.

Education Statistics for Illinois

Illinois has over 50 two-year schools and more than 90 four-year institutions, which makes it easy to find a school that matches your budget and career goals. More than half of Illinois college students also take online classes.

The number of adults with a bachelor's degree in Illinois is slightly higher than the U.S. average. Compare Illinois' higher education statistics with national data in the table below.

Accreditation for Illinois Schools

Accredited institutions meet the highest standards for academic quality. For some accounting roles, accreditation is mandatory: For example, Illinois requires CPAs to hold degrees from an accredited institution. Employers may also prefer to hire job candidates who attend accredited schools.

When you're choosing an Illinois college, make sure it holds accreditation. Look for institutions with accreditation from agencies like the Higher Learning Commission. Accounting programs may also hold programmatic accreditation from agencies like ABET.

Delivery Formats for an Accounting Degree in Illinois

You should consider multiple factors when looking for an accounting degree. One crucial consideration is program delivery format: Accounting schools in Illinois offer on-campus, online, and hybrid learning models. More than half of Illinois college students take some or all of their courses online, according to the National Center for Education Statistics.

Which format is the right option for you? When you're choosing a school to earn your accounting degree, determine which delivery format best fits your needs, learning style, and schedule.

Paying for Your Accounting Degree

The average cost of tuition and fees in Illinois ranges from $4,250 per year for public community colleges to over $37,000 per year for private four-year institutions. While average tuition prices in Illinois are higher than national averages, students can use several forms of financial aid to help pay for their education.

College enrollees can pursue scholarships and grants from the government, colleges, and private foundations. The Illinois Student Assistance Commission manages state financial aid for higher education. You can also use loans to cover costs. Learn more about financial aid below.

In-State Versus Out-of-State Tuition

Illinois' public colleges and universities typically charge state residents lower tuition than out-of-state enrollees. Some schools offer in-state tuition to residents of neighboring states or fully online learners. The Midwestern Higher Education Compact also extends lower tuition rates to residents of its 12 member states.

When researching college costs, make sure to investigate tuition discounts for state residency, delivery format, and military status. For instance, many Illinois colleges and universities offer tuition discounts for military members, veterans, and their dependents.

Cost of Living in Illinois

As you calculate your educational budget, make sure you factor in cost of living expenses.

Overall, the cost of living in Illinois is 9.2% lower than the national average, according to World Population Review. However, your cost of living depends on where you live in the state: For instance, Chicago has a higher cost of living than more rural parts of the state. Students who choose an online learning format can live in lower cost-of-living areas while attending schools located in more expensive areas.

Careers for Accounting Graduates in Illinois

As of 2021, Illinois is home to 38 Fortune 500 companies, including headquarters for employers like Walgreens, United Airlines, and State Farm Insurance. Businesses across the state, from the aforementioned global companies to locally owned enterprises, need accounting professionals.

An accounting degree prepares you for careers in accounting, financial services, auditing, and bookkeeping. With experience or a graduate degree, accounting majors can move into specialized and management roles with higher earning potential.

More than 53,000 accountants and auditors work in Illinois, according to BLS data. Nearly 42,000 of those accountants work in the Chicago area. Projections Central data projects the state's accountant workforce will grow 4% from 2022 to 2032.

Illinois Employment Trends

In general, earning a higher degree opens the door to higher-paying careers. An associate degree prepares accounting grads for roles as a bookkeeper or accounting clerk. With a bachelor's degree, accounting majors qualify for entry-level roles as an accountant, financial analyst, or securities trader. A master's degree can lead to careers like CPA or financial manager.

Illinois Requirements for Certified Public Accountants

Every state sets its own requirements for CPAs. The Illinois Department of Financial and Professional Regulation (IDFPR) licenses CPAs in the state.

Illinois CPAs must meet the following requirements:

• Education: At least a bachelor's degree and 150 college-level credits. Candidates with a graduate degree in accounting from an accredited program do not need to meet specific coursework requirements, while all other prospective CPAs must complete at least 30 credits in accounting and 24 business credits or a graduate-level business degree.
• Examination: As in other states, Illinois CPAs must pass the four-part Uniform CPA Exam, which tests candidates on subjects like auditing, financial reporting, and taxation.
• Experience: CPAs need one year of full-time experience or an equivalent amount of experience working in accounting, financial advisory, tax, or a related field.

Licensed CPAs must meet continuing education requirements every three years to maintain their credential.

Questions About Accounting in Illinois