Boston is regarded as one of the best places in North America to conduct business. From 2010 to 2019, Boston’s average household income increased by 4.1 percent. Boston’s unemployment rate is currently at 4.3 percent and has been steadily decreasing over the last few months.
The city has a diverse economy, employing thousands of people in different industries, including healthcare, finance, retail, accommodation, food processing, transportation, real estate, and construction. This article covers the biggest companies in Boston, where to find a job in the city, and the top Boston job boards.
Boston Job Market
Boston has great historic sites, access to fresh seafood, and lush green spaces. As a result, the economy thrives on tourism and the hospitality industry, which employs over 232,000 people, according to the Bureau of Labor Statistics (BLS). Boston’s major industries include government services, education and health services, professional services trade, transportation and utilities.
According to the BLS, Boston’s employees earn an average of $35.50 per hour, with lawyers earning the most at $84.41 per hour. The city is a top educational and health center, with thousands of people employed by institutions such as the Boston University School of Medicine, Massachusetts General Hospital, and Harvard University.
Boston Key Industries
- Education and health services
- Professional and business services
- Trade, transportation, and utilities
What Is Boston’s Unemployment Rate
Boston’s unemployment rate is currently at 4.3 percent. According to the Bureau of Labor Statistics, Boston’s unemployment rate dropped from five percent in June 2021 to 4.7 percent in October 2021. This is the city’s lowest unemployment rate since the beginning of the COVID-19 pandemic in 2020 when unemployment rose to 15.6 percent.
Who Is the Largest Employer in Boston?
The largest employer in Boston is the Massachusetts General Hospital. According to a survey published by the Boston Planning and Development Agency (BPDA), Massachusetts General Hospital is the largest employer in Boston with over 14,000 employees, closely followed by Brigham and Women’s Hospital and Boston University.
This report coincides with a report published by the Bureau of Labor and Statistics, which showed that the education and healthcare industries are the largest employers in the city.
Top Employers in Boston: At a Glance
|Company||Industry||Global Headcount||Hiring For|
|Amazon||Retail, Technology||1,300,000||Warehouse associates, software engineers, business developers|
|TJX Companies||Retail||320,000||Store design administrator, consumer insights and analytics, retail associate|
|Dunkin Brands||Food and beverage||270,000||Crew member, shift leader, assistant manager, director of operations|
|General Electric (GE)||Technology||174,000||Software engineers, database managers, cloud operations managers|
|Fidelity investments||Financial services||52,000||Customer service, software engineers, business strategy and operations, asset managers|
|Liberty Mutual Holding Company Inc||Insurance||45,000||Data analysts, compensation consultants, underwriter associate|
|State Street||Banking Operations||39,439||Data analysts, actuaries, insurance sales representatives|
|Massachusetts General Hospital / Mass General Brigham||Healthcare||14,207 (In Boston alone)||Healthcare service providers, researchers, hospital administrators|
|Boston University||Education||9,301 (In Boston alone)||University administrators, researchers, lecturers|
|Boston Children’s Hospital||Healthcare||7,603 (In Boston alone)||Healthcare service providers, researchers, hospital administrators|
Largest Boston Companies to Work For
Amazon is a large online retailer that sells directly to customers by allowing third-party retailers to list consumer products on the Amazon platform. Amazon also provides technology services to its clients, including Amazon Web Services, the platform’s version of cloud technology. This company is one of the largest employers in North America and it continues to grow.
What Is It Like to Work at Amazon?
For the most part, working at Amazon is satisfactory. This company offers a competitive wage and benefits package. However, work hours can be strenuous, with multiple employees reporting few breaks. Furthermore, jobs in the transportation and warehouse sectors can be physically demanding.
Top Reasons to Work at Amazon
- Competitive salaries
- Good benefits
- Career advancement opportunities, especially for middle to top-level employees
TJX Companies are well-known in North America and around the world for its low-priced clothing. TJX Companies include TJ Maxx, Marshall’s, Winners, and Home Goods. In 1977, the first two TJ Maxx locations were opened just outside of Boston in Auburn and Worcester, Massachusetts.
What Is It Like to Work at TJX Companies?
Working at TJX is a great opportunity, as multiple reports on Indeed indicate that this company has a slightly higher than average score. About 2,000 people on Indeed reported that TJX is a great place to work as it offers a good work environment and good benefits.
Top Reasons to Work at TJX
- Decent work/life balance
- Opportunities for career progression and advancement
- Good company culture
Dunkin Brands is a well-known coffee and donuts company that offers a wide variety of services to its clients. The quick-service restaurant earned approximately $1.37 billion in 2019, the highest it has ever earned. This demonstrates that the company is still growing.
What Is It Like to Work at Dunkin Brands?
Working at Dunkin’ Brands is a fast-paced environment, as it is in most restaurants. This entails working long hours with only brief breaks. This company received a three-star rating out of a possible five from most of its employees on Indeed. Other than the ability to develop personally, the company has few offerings that have kept most of its employees happy.
Top Reasons to Work at Dunkin Brands
- Opportunities for career progression
- Decent work culture
- Most jobs have low barriers to entry
General Electric (GE) is one of America’s oldest companies, but it has reinvented the future of the tech industry. The company is best known for its inventiveness in the power, aviation, renewable energy, and healthcare industries. As an employee, company stability is critical for long-term job security. GE ticks these boxes by providing attractive compensation packages to its employees.
What Is It Like to Work at General Electric?
According to the thousands of positive reviews on Indeed and Glassdoor, working at General Electric is a great opportunity. Most of the reviews on Indeed favor the company’s treatment of its employees.
Top Reasons to Work at General Electric
- A sense of belonging and purpose
- You keep learning new things
- Good pay and benefits
Fidelity Investments is a multinational financial services corporation with a global workforce of over 52,000 employees. According to Statista, investment funds owned by this corporation grew at a rapid rate in 2021, demonstrating the company’s growth and presence in the financial sector.
What Is It Like to Work at Fidelity Investments?
Fidelity Investments is a great place to work, judging by the many positive reviews on Glassdoor and Indeed. Most employees believe that the company provided inclusive programs and work schedule flexibility.
Top Reasons to Work at Fidelity Investments
- Favorable work/life balance
- Great pay and benefits
- Desirable work culture and environment
Liberty Mutual Holding Company Inc
Liberty Mutual is one of the largest insurance companies in the United States and one of the largest property and casualty insurers. According to Fortune, the company has grown its revenue by over two percent over the last few years.
What Is It Like to Work at Liberty Mutual Holding Company Inc?
Most of the reviews on Glassdoor and Indeed indicate that working at Liberty Mutual is a great experience. One of the best aspects is that this company provides excellent compensation and benefits to its employees.
Top Reasons to Work at Liberty Mutual Holding Company Inc
- Good compensation and benefits
- Schedule flexibility regardless of the time and location
- Great work/life balance
State Street is among the largest banks in the United States when it comes to assets under management. According to the Fortune 500, State Street earned approximately $12 million in 2021. This demonstrates the company’s long-term stability and growth.
What Is It Like to Work at State Street?
According to over 2,000 employee reviews on Indeed, working at State Street is a slightly above-average experience. Most employees rated the company three stars out of five. However, this does not tell the whole story because employees at State Street feel appreciated and can meet their personal goals.
Top Reasons to Work at State Street
- Good work culture
- Employees generally feel appreciated and motivated to work
- Ability to meet personal career goals, including career advancement
Mass General Brigham
Mass General Brigham is one of the largest non-profit hospitals in the world. It is also a prestigious teaching institute with over 74,000 employees. Mass General is widely recognized as the leading research hospital in the United States.
What Is It Like to Work at Mass General Brigham?
Working at Mass General is great because the hospital provides many amenities to keep its employees happy. Most employees on review sites such as Glassdoor and Indeed express satisfaction with their jobs at Mass Gen Brigham. However, it’s difficult to ignore the negative management reviews posted by a significant number of employees.
Top Reasons to Work at Mass General Brigham
- Good work/life balance
- Good compensation and benefits
- Great work culture
Boston University is one of the leading private research institutions in North America. This university has over 10,000 employees who have a long history of providing excellent service to students and the community. The Boston University Medical Center operates the largest network of community health centers in Massachusetts.
What Is It Like to Work at Boston University?
According to the multiple employee reviews posted on sites such as Indeed and Glassdoor, working at Boston University has little to no drawbacks. However, this institution is known for its work culture rather than its pay and benefits structure.
Top Reasons to Work at Boston University
- Employees feel appreciated and have a sense of belonging
- Supportive work environment
- Great culture
Boston Children’s Hospital
Boston Children’s Hospital is a pediatric hospital that offers health and wellbeing services to children all over the world. This hospital has been doing well for years now, as they are one of the best pediatric hospitals in the world. This organization offers jobs in many different professions.
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What Is It Like to Work at Boston Children’s Hospital?
Working at Boston Children’s hospital is great. Most reviews on sites such as Glassdoor and Indeed are positive. Most employees feel valued and have a clear sense of purpose.
Top Reasons to Work at Boston Children’s Hospital
- Learning opportunities
- Great work culture and environment
- A good work-life balance
Other Big Companies Headquartered in Boston
- Vertex Pharmaceuticals
- Iron Mountain
- American Tower
- Gillette Company
- Boston Consulting Group
- Bain & Company/ Bain Capital
- Civitas Solutions
- Partners in Health
Where to Find a Job in Boston: Top Boston Job Boards
The City of Boston
The official job search website for government or federal positions is the City of Boston’s careers page. According to the Bureau of Labor Statistics, the city of Boston alone employs over 305,000 people, making this site a top job search site.
CFA Society Boston
The CFA Society is a valuable resource for those looking for work in the financial industry. For example, you could look for jobs that require a working knowledge of capital markets. The website also includes many career resources to assist professionals in achieving their career objectives.
Indeed is one of the world’s largest job search websites. The company estimates that it receives over 250 million visitors per month. More importantly, the site adds over 10 jobs per second, so you’ll have plenty of opportunities to choose from.
What Is Boston’s Tech Scene Like?
The Boston tech scene is thriving as the city undergoes a digital transformation. Boston is a great place to start if you want to work in information technology. You’ll be able to find the most in-demand, high-paying jobs in the Boston tech industry.
According to the Bureau of Labor Statistics, software developers, software quality assurance analysts, and testers in Boston have an average compensation of $57.66 per hour, which is higher than the national average.
Can a Bootcamp Help Me Get a Job With a Top Boston Employer?
Yes, coding bootcamps can help you get a job with a top Boston employer. Coding bootcamps have grown in popularity as an alternative to long and expensive university courses. Top coding bootcamps provide career services to their graduates, including job placement guarantees and career counselling.
Coding bootcamps can help you land a job with a top employer, such as one of Boston’s large private companies. However, keep in mind that the job market is fairly competitive. Joining a Boston coding bootcamp will provide you with the skills in a short period of time, but you will still need to put in the work if you want to work for one of Boston’s largest employers.
Top Coding Bootcamps in Boston
- General Assembly
Why Boston Is a Great Place to Achieve Your Career Goals
Boston is an excellent place to advance your career because it has some of the highest average salaries and benefits in the country. According to the Bureau of Labor Statistics, the average earnings for occupations in the Boston area is about $36 per hour while the national average is about $27 per hour.
However, achieving your career goals is not solely determined by earnings. Career advancement opportunities, quality of life, job satisfaction, and networking opportunities are important factors to consider when developing your career. Boston checks all of these boxes, as it is consistently ranked as one of the best cities in the world for achieving career goals.
Biggest Companies in Boston FAQ
Big companies in Boston include General Electric, Liberty Mutual Insurance Group, Wayfair, State Street, Vertex Pharmaceuticals, Alexion Pharmaceuticals, Cabot, Iron Mountain, Boston Properties, and the American Tower. Fortune has seven Boston-based companies listed in its Fortune 500 rankings as of 2022.
The biggest employer in Massachusetts is Mass General Brigham. According to its official webpage, Mass General Brigham employs over 74,000 people. However, this is a non-profit organization just like Boston Medical Center. The largest private companies in Boston are General Electric, Liberty Mutual Insurance Group, and State Street.
The best jobs in Boston are for professionals such as lawyers, general and operational managers, software developers, quality assurance analysts and testers, management analysts, registered nurses, accountants, and auditors. These are the best jobs because they have veeyr high average annual salaries.
$90,000 per year is a good salary in Boston. According to the Bureau of Labor Statistics, the average annual spending for Boston residents is about $92,000 per year. This figure includes healthcare, personal insurance, pension, food, transportation, and housing. For these reasons, anything over $90,000 per year is considered adequate to meet your needs as a resident and worker.
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