Boston Ranks Among Top Five Cities With Most Six-Figure Jobs
By: Srividya Kalyanaraman
Don’t let the tech layoffs scare you. Boston has still got the big bucks.
According to data from the U.S. Bureau of Labor Statistics (BLS), less than 7 percent of American workers are employed in occupations that pay a median salary of $100,000 or more. And yet, the Boston area came in fourth, after Silicon Valley, Metro DC and the San Francisco Bay Area.
That’s according to a new report by Volusion, an Austin-based company that provides an e-commerce platform for small businesses.
The report, backed by BLS data, found that coastal states boast the greatest share of six-figure jobs—specifically, the states of California, Massachusetts and Maryland. California houses the highest proportion of employees earning a median salary of over $100,000, at 12.7 percent. Massachusetts and Maryland are close behind, with 12.2 percent and 11.9 percent, respectively.
The top five most popular six-figure occupations in the U.S. are general managers, application developers, lawyers, financial managers and systems developers.
Image courtesy: Volusion
In the metro region that includes Boston, Cambridge and Nashua, N.H., there were more than 380,000 jobs paying six-figure salaries, with biochemists and biophysicists topping that list.
The share of Massachusetts workers in six-figure jobs is also growing. That number grew by 24.5 percent between 2015 and 2018, dominated mostly by CEOs and doctors.
Proclaimed as a hub for biotech and cybersecurity, Boston is considered one of the top destinations for job-seekers in the U.S. Even as that reputation might be at stake, with the recent spate of layoffs at local tech heavyweights such as Wayfair, LogMeIn and Akamai, tech jobs continue to grow and even absorb those affected by mass layoffs.