Finance Classes & Bootcamps Boston

Boston is a great tourist destination with well-traveled destinations like the Paul Revere House and Quincy Market. It also boasts legendary sports franchises like the MLB Red Sox and NHL Bruins. However, Boston isn’t just a popular place to visit; it’s also an ideal place to work, especially if you’ve got your eye on the Finance industry.

Boston’s Finance Industry

Boston’s finance industry is one of the most robust in the country. It houses some of the world’s largest asset management firms such as Fidelity Investments and State Street Corporation, which manage trillions of dollars. You can also find several investment banking firms and Liberty Mutual Insurance headquarters. You’ll also find that Boston is a hotspot for venture capital and FinTech, which aims to revamp traditional finance processes through technology.

Boston Finance Companies

Fidelity Investments, State Street Corporation, and Liberty Mutual Insurance are among Boston’s heavy hitters in the Finance district; however, they aren’t the only companies contributing to the financial market.

Banking Institutions in Boston

• State Street Bank
• Citizens Bank
• Eastern Bank
• Boston Private Bank & Trust Company
• Harvard University Employees Credit Union

Wealth Management Firms in the Boston Area

• Bessemer Trust
• Marble Arch Investments
• Wealth Management Associates
• Granite Investment Advisors
• Northern Trust Wealth Management

Investment Firms in Boston

• Putnam Investments
• Neuberger Berman
• Wellington Management
• Adage Capital Management

Insurance Firms in Boston

• MassMutual
• New York Life Insurance Company
• Hanover Insurance Group
• Boston Mutual Life Insurance Company

Finance Careers in Boston

Professionals starting new careers in Boston have more options here than in many other cities. Skilled pros in corporate banking, portfolio management, or related fields can find high-paying roles in multiple organizations, but other workers thrive, too. Consider the following careers in Finance if you live in Boston or plan to move here.

• Accounting: Construction Accounting Managers, Insurance Accountants, and Equity Accountants are among the many accounting roles available to residents of the Boston area. These skilled finance professionals work in nearly every industry and sector. Just starting a career? Look for Accountant I positions.
• Portfolio Management: With well-known names like State Street and Fidelity, Boston offers multiple opportunities for finance professionals specializing in portfolio management. Planning-based portfolio management covers numerous positions like Client Portfolio Analyst, Portfolio Analyst, and Portfolio Manager. Finance professionals with portfolio analysis expertise may work for banks, brokerages, and private wealth management firms.
• Risk Analysis: Risk analysis is essential to the finance part of BFSI and also pertains to the insurance sector. Titles vary widely, from Risk & Analytics Manager and Risk Associate to high-paying managerial roles like Director, Risk Manager, and Insurance Analyst.

Salary Ranges for Financial Professionals

Although not all salaries here rank higher than national averages, many do—especially in the highly competitive BFSI supersector. Consider the following roles in finance and their average salaries in the Boston metro area.

• Accountant: Accounting is essential for every organization, and in many, it requires one or more full-time positions. The best-paid are Chief Financial Officers, but non-managerial roles such as Certified Public Accountant or Public Accountant can also feature high salaries. Boston Accountants can expect to earn an average annual salary of around $71,000, eight percent above the national average for comparable roles.
• Financial Analyst: Financial Analyst roles in or near Boston pay even better than accounting roles on average. These skilled professionals use tools like Excel, SQL, or Tableau to build and analyze financial models to build and visualize data models for organizations. A Financial Analyst in the Boston area can anticipate earning about $82,000 annually, comparable to the national average.
• Financial Risk Manager: A Financial Risk Manager, or FRM, may work in traditional banking, an insurance company, or an investment firm. They are among the highest-paid finance pros in Boston, earning an average annual salary of around $127,000.
• Private Equity Associate: Among the least-known high-paying finance roles, Private Equity Associates typically work for private equity firms. These organizations find investors to raise capital for acquisitions or mergers and then sell the company for the highest possible price. Portfolio management, industry research, and financial analysis can all fall within the purview of these skilled professionals. A Private Equity Associate in the Boston area can expect to earn about $142,000 in annual salary.

Finance Trends in Boston

According to the Federal Reserve Bank of Boston, inflation in New England has been cooling while housing prices and rent growth have decelerated. This combination makes living in major metro areas like Boston more affordable.

Another positive trend is employment, as the average unemployment rate in New England is lower than the national average. The U.S. Bureau of Economic Analysis reports that the most significant contributions to real GDP growth in New England come from the following supersectors:

• Financial Activities
• Professional & Business Services
• Trade, Transportation & Utilities

While single-family house prices are up, so are sales. This positive trend may benefit buyers and sellers as Boston remains more affordable than many metro areas. Reasonably-priced homes priced fairly come off the real estate market quickly, whereas those priced highly may stay on the market for months. Nonetheless, Boston’s growth rate, low unemployment, and high supply of educated workers bode well for its future as a destination for finance professionals.