Finance

Investment Banker Salary in Massachusetts (2026)

The average Investment Banker in Massachusetts earns around $380,000/year. After taxes, your estimated take-home is $246,517/year ($20,543/month).

Take-Home Pay Breakdown

CategoryAmount
Annual Take-Home Pay
$246,517
Monthly Take-Home Pay
$20,543
Biweekly Take-Home Pay
$9,481
Hourly Take-Home Pay

based on 2,080 hrs/year

$119/hr
Federal Tax
$96,134
State Tax
$18,780
FICA Taxes
$18,569
Effective Tax Rate

total taxes ÷ gross salary

35.13%
Estimates only — not tax advice. · Full disclaimer →

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RSU is most of Investment Banker comp in Massachusetts

At senior tech levels, RSU vesting is 50-65% of total compensation. Our Massachusetts RSU tax guide breaks down state-specific withholding, sell-to-cover shortfall math, and metro-level vest patterns.

Read the Massachusetts RSU tax guide →

Investment Banker Salary Ranges in Massachusetts

Entry Level (0–3 yrs)

$200,000

/year

See tax breakdown →

Mid Level (3–7 yrs)

$380,000

/year

See tax breakdown →

Senior Level (7+ yrs)

$1,500,000

/year

See tax breakdown →

Not all Investment Bankers earn the same — not even close

Massachusetts is one of the country's deepest asset management headquarters states. Fidelity Investments HQ Boston (~$5T+ AUM, ~30K employees globally) is the country's third-largest asset manager. State Street Corp Boston (~$40T+ AUC custody bank, ~40K employees globally) is the country's largest custody bank by assets under custody. Wellington Management (employee-owned, ~$1.2T AUM) is the country's largest employee-owned asset manager. Putnam Investments (acquired by Empower in 2023) plus John Hancock Boston (Manulife subsidiary) add parallel asset management depth. Bain Capital HQ Boston ($165B AUM private equity) anchors the Boston PE scene. Front-office IB scale is smaller than NYC but the asset management depth is unmatched outside NYC.

Managing Director (Fidelity / Wellington)

$535,000–$1,485,000+ TC

Senior PM + Head of Sector · Fidelity senior PMs · Wellington partners · State Street senior leadership

Director / Senior VP (Capital Markets)

$305,000–$525,000

Senior IB + capital markets · Fidelity capital markets · State Street institutional · 10-15 years

VP (Investment Banking / M&A)

$215,000–$345,000

Bain Capital senior associate · Boston PE firms · MIT-alumni-funded VC + growth · 5-8 years

Senior Portfolio Manager (Wellington / Fidelity)

$315,000–$985,000+ TC

Wellington partner-track PM · Fidelity senior fund manager · book of business + equity participation

Senior Wealth Management Advisor (FA)

$195,000–$525,000

Fidelity Private Wealth · Wellington private clients · Boston RIA cluster · book-of-business driven

Associate (IB / PE / Asset Management)

$195,000–$315,000

2-4 years post-MBA · Bain Capital + Wellington + Fidelity associate · HBS pipeline

Analyst (IB / Equity Research, 0-3 yrs)

$125,000–$195,000

Fidelity research analyst · Wellington analyst · State Street analyst · HBS + MIT Sloan + Wharton pipeline

Senior Equity Research Analyst

$185,000–$315,000

Fidelity equity research · Wellington sector specialist · Putnam · large sell-side coverage analysts

Senior Quant Researcher

$215,000–$385,000

Wellington systematic strategies · State Street Global Advisors quant · Putnam · MIT + Harvard pipeline

Senior PE Associate (Bain Capital)

$295,000–$525,000

Bain Capital senior associate + Vice President · post-MBA + 4-7 years · carried interest participation

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.

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