Investment Banker Salary in Massachusetts (2026)

Worth knowing: Boston's asset management headquarters concentration is unmatched outside of NYC. Fidelity Investments (founded 1946, family-controlled by the Johnson family, ~$5T+ AUM, ~30K global employees) is the country's third-largest asset manager and the largest privately-held US financial services company. Senior Fidelity portfolio managers running funds clear $385-985K+ TC including bonuses + equity participation. State Street Corp ($40T+ AUC custody bank, the country's largest custody bank by AUC, $4.4T AUM through State Street Global Advisors) anchors institutional asset servicing. Wellington Management (founded 1928, employee-owned partnership structure, ~$1.2T AUM, ~3K Boston employees) is the country's largest employee-owned asset manager — senior PMs become partners with equity participation. Bain Capital ($165B AUM private equity, founded 1984 by Mitt Romney plus Bain & Company alumni) is one of the country's largest PE firms; senior associate + VP tracks clear $295-525K+ TC with carry. The Boston PE + VC cluster (General Catalyst, Bain Capital Ventures, Battery Ventures, Spark Capital, Polaris Partners) creates substantial venture capital + growth-stage finance career paths. The MA Fair Share Amendment 4% surtax above $1.117M (2026 indexed, Article 44 passed Nov 2022) catches many senior asset management + PE professionals at carry-realization years — combined top effective 9% on the surtax portion. The $2M estate tax exemption (raised from $1M by HB 4104 of Oct 2023) is among the lowest US thresholds, driving meaningful HNW FL/NH relocation patterns for retiring senior asset management partners.