As a prominent city on the East Coast, Boston acts as a cultural and financial capital for the New England area. Since the formation of the U.S., Boston has served as a major economic hub for professionals of all walks of life. With major universities like Harvard and MIT, Boston always attracts top-quality talent to fuel its industries. The large amount of talent has brought innovation and new technology development. Project management is important in all sectors to ensure that new technologies and projects hit the market on time and under budget.
Project Management-Related Careers and Salaries in Boston
- Project Managers guide a project through the planning stages to its completion. They will coordinate teams, budgets, and timelines for each project. On average, they earn between $105,000 and $115,000.
- Project Analysts focus on project analytics. They use data and reports to identify trends that will help improve project outcomes. They earn around $75,000 to $85,000 annually.
- Assistant Project Managers take on smaller projects or manage parts of larger projects to help the main Project Manager. They earn around $80,000 to $95,000 annually. After a few years of experience, they can move into a full project management position.
- Project Coordinators organize and manage project logistics to help the project run smoothly. They earn between $65,000 and $75,000 annually.
- Every industry will have a specialized type of Project Manager, like an IT, Construction, or Healthcare Project Manager. If one pursues these roles, they need to understand the specific skills for that industry. Salaries will vary depending on the demand for that industry in Boston.
- One can seek out certifications to make oneself more desirable to employers.
- These certifications include the CAPM (Certified Associate in Project Management) or the PMP (Project Management Professional).
- Certifications require on-the-job experience, classroom training, and passing an exam.
- Earning a certification can boost salaries upwards of 20% as they demonstrate mastery of project management.
Top Industries for Project Management in Boston
Healthcare and Life Sciences
Boston consistently ranks as the top metro in the U.S. for biotech. This sector supports research, hospitals, and biotech innovation, all within the compact urban area of Boston. With over $7.3 billion in funding from NIH, healthcare professionals can focus on providing adequate care and leading medical advancements. Healthcare Project Managers primarily focus on clinical trials or biotech development. However, some may handle hospital infrastructure upgrades or policy changes. Major employers include:
- Massachusetts General Hospital
- Moderna
- Harvard Medical School
- Biogen
Technology and Software Development
The Boston tech sector has rapidly expanded to rival major technological hubs like Silicon Valley and New York City. The city consistently ranks fourth for tech hubs in the country and outpaces the nation by 3.5% in job growth. IT Project Managers help guide software to market promptly. They also oversee feature updates, AI model training, and infrastructure projects. Projects will depend on what part of the industry one pursues. Major employers include:
- IBM
- Akamai Technologies
- Rapid7
- HubSpot
Financial Services
As one of the top 25 financial hubs in the world, Boston constantly drives the industry toward innovation. The financial sector accounts for around 8% of the state's GDP and employs over 180,000 people. Financial Project Managers help institutions implement changes to maintain compliance. Project Managers who wish to blend finance and technology may oversee the development of financial tech software. They can also oversee mergers or reconstructions within the industry. Major employers include:
- Fidelity
- Deloitte
- PwC
- Wellington Management
Construction and Real Estate Development
Even though Boston has limited space, the city is constantly evolving. The city has dedicated over $100 million toward at least 60 large-scale development projects, which will greatly enhance it. Even with over 100,000 workers, the industry plans to grow at a steady rate for the foreseeable future. Construction Project Managers take on an essential role in this sector as they guide a construction project from its development with Architects and City Planners to completion. Major employers include:
- Turner Construction
- Greystar
- The Fallon Company
- Hines
Engineering and Manufacturing
Over,000 manufacturers call Boston home and help contribute to the $27 billion of manufactured goods that Massachusetts exports annually. This sector represents around 11% of the state's GDP. Part of the industry focuses on research and development, which Massachusetts ranks first in R&D intensity in the U.S. Project Managers oversee product development and supply chain coordination. They spend a large portion of their time focusing on budget and timeline management. Major employers include:
- Boston Scientific
- Raytheon Technologies
- Boston Dynamics
- Skyworks Solutions
Project Management in an Expanding Boston
Steady expansion is hitting every sector of Boston's economy. In 2024, employers created over 26,000 new jobs across all industries. Project management plays a key part in helping Boston continue to rise into a global industrial hub. Experts forecast that Project Manager positions will increase by 7% over the next decade, which surpasses the average growth rate for all other occupations.
As the top major industries grow, the demand for Project Managers will as well. Project Managers may see major salary increases in the coming years as demand and competition rise. With more innovation occurring in the city, Project Managers may see a shift in the focus of projects. With the tech industry becoming more prominent in the Boston area, Project Managers should upskill in Agile and AI development to stay relevant in an ever-changing market.