Salary comparison
Carpenters: Chicago vs Fairbanks
Fairbanks, AK pays about 5.6% more for carpenters on paper — $84,970 vs $80,440. But once you factor in what it costs to live there, Fairbanks comes out ahead by $4,530 a year in real buying power.
Chicago, IL
$80,440
$58,770
$113,970
$38.68
100
$80,440/yr
Median adjusted for local cost of living.
Fairbanks, AK
$84,970
$63,450
$95,220
$40.85
100
$84,970/yr
Median adjusted for local cost of living.
What the numbers mean in practice
The headline gap is $4,530 a year (5.6%) in favor of Fairbanks. That is the raw salary difference before any living costs.
Chicago runs a cost index of 100 against the national baseline of 100; Fairbanks sits at 100. After adjusting the median for those costs, Fairbanks is the better deal by $4,530 a year — that is what each paycheck actually buys locally.
If you are weighing a move from Chicago to Fairbanks for this role, the raise needs to beat 5.6% to come out ahead after living costs. Anything below that and you are earning more on paper but keeping less.
Common questions
Where do carpenters earn more, Chicago or Fairbanks?
Fairbanks pays $84,970 on median — about 5.6% more than Chicago ($80,440). Based on BLS Occupational Employment and Wage Statistics.
Which city is the better deal after living costs?
Fairbanks. Once you divide each median by the local cost index, Fairbanks gives you roughly$84,970 of real buying power versus $80,440 in the other city.