NAICS 52

Finance and Insurance in Boston-Cambridge-Newton, MA

Metro Market Score 79.1 (Difficult), ranked #328 of 331 metros. 7,897 establishments, 132,338 jobs.

Metro Market Score 79.1

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Difficult

ⓘ Lower is better. Relative to national finance and insurance average.

💰High-Cost Market

Boston-Cambridge-Newton scores 79.1 on the Metro Market Score for finance and insurance, placing it in the bottom 10%. High wage costs, strong existing competition, or slowing growth contribute to tougher entry conditions compared to most metros.

Industry Concentration

92.5

LQ: 1.20

Rank #306 of 331 metros

Wage Competitiveness

99.4

$218,253 avg wage

Growth Trend

↓ 26.3

Employment growth index

Rank #245 of 331 metros

Wage Pressure

45.2

YoY wage change index

7,897 Finance and Insurance Firms in Boston-Cambridge-Newton

7,897

Establishments

-3.5% YoY

132,338

Total Employment

-3.3% YoY

$218,253

Average Annual Wage

+5.9% YoY

1.20

Location Quotient

Above national avg

Within Massachusetts

#5 of 6

finance and insurance metros in state

Massachusetts state rank

#15 of 51

for finance and insurance entry risk

vs State Median

+1.4

worse than median (77.7)

Boston-Cambridge-Newton vs Massachusetts Statewide

How this metro's finance and insurance market compares to Massachusetts overall. The state ranks #15/51 for entry risk.

Measure	Boston-Cambridge-Newton	MA Statewide
Overall Score	79.1 Difficult	48.2 Elevated
Score Type	Metro Market Score	Entry Risk Score
Rank	#328 of 331 metros	#15 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Boston-Cambridge-Newton

Accommodation and Food Services 54.2 Retail Trade 56.0 Construction 63.2 Real Estate and Rental and Leasing 66.6 Other Services 67.7 Administrative and Support Services 69.2 Healthcare and Social Assistance 70.3 Information 72.6 Professional, Scientific, and Technical Services 80.3

Finance and Insurance in Other Massachusetts Metros

Amherst Town-Northampton 37.8 #88/331 Barnstable Town 59.8 #245/331 Pittsfield 70.7 #299/331 Worcester 77.7 #323/331 Springfield 82.0 #330/331

Finance and Insurance Metros With Similar Conditions

Metros within 5 points of Boston-Cambridge-Newton's 79.1 score. Useful when comparing markets with comparable entry profiles.

Columbus, OH 78.4 #327/331 Hartford-West Hartford-East Hartford, CT 78.3 #326/331 Albany-Schenectady-Troy, NY 77.9 #325/331 Minneapolis-St. Paul-Bloomington, MN 80.5 #329/331 Winston-Salem, NC 77.7 #324/331 Worcester, MA 77.7 #323/331 Omaha, NE 76.6 #322/331 New Orleans-Metairie, LA 76.3 #321/331 Springfield, MA 82.0 #330/331 Raleigh-Cary, NC 76.3 #320/331

Finance and Insurance in States Bordering Massachusetts

State-level entry risk for finance and insurance in adjacent states. Use this to weigh cross-border options.

Rhode Island 41.9 #4/51 New Hampshire 49.8 #22/51 Vermont 53.6 #34/51 New York 65.4 #49/51 Connecticut 73.7 #51/51

Browse Finance and Insurance in Other States

State-level entry risk reports for finance and insurance across all 51 markets, sorted by rank.

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Boston-Cambridge-Newton's finance and insurance sector, the wage competitiveness component (99.4) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Boston-Cambridge-Newton, MA-NH MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment