Top Industries & Employers in Greater Boston
From the burgeoning biotech industry to cutting-edge healthcare to world-renowned higher education, Greater Boston is a hub for business, education and innovation. Hundreds of thousands of people, along with thousands of businesses, contribute to the area's $571 billion economy. With that being said, have you ever wondered about the city’s heaviest hitters? Listed below are the Greater Boston area's top five major employers.
The Top Industries
Listed below are the five key industries that make up approximately 62 percent of Boston’s economy.
Professional, Scientific and Technical Services | 116,365 employees
Greater Boston has earned its reputation as the "Biotech Hub" of the world as the city houses many biotech companies, research institutions and academic centers. From Kendall Square in Cambridge to the many tech startups in Boston, the region is home to industry giants like Biogen and Vertex Pharmaceuticals, as well as a myriad of startups. In addition to the booming biotech industry, Greater Boston is a thriving center for technology.
From software development to robotics, Boston boasts a long list of tech companies that drive forward advancements in science and engineering. Leading the way are tech titans like Akamai Technologies and HubSpot, alongside startups and incubators. Alongside distinguished research universities such as Harvard and MIT fueling innovation, as well as access to top-tier talent from local universities and a vast network of investors and mentors, Greater Boston's science and tech scene shows no signs of slowing down.
Finance and Insurance | 102,050 employees
Boston has a long history as a financial center, and continues to be one today. Prior to the pandemic, Boston saw significant job growth in both the finance and insurance industries due to employers requiring commercial office space. Despite the pandemic, Greater Boston-based companies continues to employ many Bostonians, as their location grants access to a strong talent pool. From asset management firms to investment banks, Boston is home to a wide range of financial institutions. Key players in the industry include Fidelity Investments and State Street Corporation, both of which have a significant presence in the Greater Boston area.
Healthcare | 152,936 employees
We’re sure this comes as no surprise, considering Boston is home to top research institutions and teaching hospitals. Alongside world-renowned hospitals, research institutions and academic medical centers, such as Massachusetts General Hospital and Harvard Medical School, there are also many community-based centers that significantly contribute to Greater Boston's healthcare scene. Whether it's conducting groundbreaking research, providing cutting-edge treatments or delivering patient care, institutions such as Dana-Farber Cancer Institute and Joslin Diabetes Center attract high-grade medical professionals from across the globe, making Greater Boston a hub for innovation and excellence in healthcare. From physicians and nurses to researchers, administrators and support staff, the region’s thriving healthcare industry provides a plethora of options for employment.
Education | 66,981 employees
While it’s considered an area of expertise for New England, Greater Boston specifically has an employment share three times the national average for education services. Boston University, Northeastern University, Boston College and Tufts University are among some of the most distinguished academic institutions in the area — just to name a few. With world-renowned education institutions like Harvard University and Massachusetts Institute of Technology, Greater Boston is a powerhouse in terms of prestigious higher education. In addition to providing top-notch academic opportunities, these institutions are major employers, creating thousands of jobs and driving economic growth. The presence of these universities enrich the surrounding community, offering a vibrant cultural scene, research collaborations and endless learning opportunities.
Government | 74,665 employees
74,665 — That’s a lot of folks working for our government. These jobs range from city council members and public health staff to archaeologists and school traffic crossing guards. From maintaining public infrastructure to providing essential services, our government employees work tirelessly to keep Greater Boston running efficiently. Whether you're passionate about policy-making, community engagement or public service, our region's government sector provides ample opportunities to make a meaningful impact on the lives of its residents.
The Top Employers
Listed below are the top five major employers of Greater Boston.
Mass General Brigham | 81,416 local employees
Mass General Brigham was founded by Brigham and Women’s Hospital and Massachusetts General Hospital, two of the nation's leading academic medical centers, in 1994. Headquartered in Somerville, but spread throughout Greater Boston, the health system is made up of 16 member institutions that encompass a range of health care organizations. It’s by far the largest employer in the state, with an integrated system of academic medical centers, specialty hospitals, and home care services.
University of Massachusetts | 25,850 local employees
From The University of Massachusetts Boston to the university’s Amherst, Lowell and Dartmouth campuses, UMass continues to rank as the top public university in New England. Alongside the university's esteemed status, UMass also serves as a major employer, offering a wide range of employment opportunities for faculty, researchers, administrative staff and support personnel across all campuses. The university's commitment to providing world-class education is matched by its dedication to fostering a supportive and inclusive work environment.
TJX | 19,018 local employees
Headquartered in Framingham, TJX has a significant presence throughout Greater Boston. Despite only a small percentage of TJX’s employees reside in Massachusetts, the company ranked as the fifth-largest employer in the state last summer (2023). Companies that fall under the TJX umbrella include Marshalls, TJ Maxx, HomeGoods and Sierra. This diversity of brands under the TJX umbrella offers a range of employment opportunities.
Stop & Shop | 17,440 local employees
Based in Quincy, Stop & Shop operates nearly 400 stores in the Northeast, with roughly one-third of the supermarket company’s overall employees based in Massachusetts. Stop & Shop's stores not only serves customers across the Northeast but also provides substantial employment opportunities in Massachusetts, offering jobs ranging from retail positions to corporate roles.
Raytheon Technologies | 12,000 local employees
Raytheon Technologies, a leading aerospace and defense company, underwent a significant transition in 2022 — relocating its headquarters to Arlington, VA. Despite this move, the Waltham office, which served as the company headquarters for 100 years, remains a vital hub for the company.
In Conclusion
Greater Boston's job market and economy is a diverse tapestry woven together by a range of industries. From biotech breakthroughs to tech startups, financial services, healthcare, and education, the region offers a wealth of opportunities for businesses and job seekers.
As Greater Boston continues to evolve and adapt to the ever-changing landscape of the world, one thing remains clear: the spirit of innovation and entrepreneurship that defines this region shows no signs of waning. So whether you're a seasoned professional or a budding entrepreneur, Greater Boston offers a fertile ground for success and growth in today's competitive marketplace.
This information is derived from the most recent statewide data published by the Boston Business Journal and does not include government workers.
