What Is the Average Salary in Massachusetts? (Updated 2024)

Massachusetts is the seventh smallest state in the US, but it’s also one of the most heavily populated in the country. The current projection places the average salary in Massachusetts at approximately $76,600, with an average hourly wage of $36.77. This translates to monthly earnings of around $6,383. What’s interesting is that these figures are about 10% higher than the national average. Massachusetts’ competitive salary landscape is driven by high-paying sectors like healthcare and technology. But, how does this average salary break down by profession, industry, and experience level? There’s more to explore to get a clearer picture.Read more: 6 Ways to Increase Your Net Worth

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The average annual salary is markedly higher than the national average. Massachusetts’ strong economic performance is evident in its salary range, from $46,230 at the 25th percentile to $90,270 and above for high-earning positions in Boston. In general, most Massachusetts residents earn a 5-figure salary, though a small percentage of individuals do earn a 6-figure salary or more.Industries like tech, finance, and healthcare contribute to these higher salaries, making Massachusetts an attractive location for career growth and opportunities. With a high cost of living, these salaries are essential for maintaining a comfortable lifestyle in the state.Massachusetts boasts a strong economic landscape with significant implications for its wage structure. The minimum wage in Massachusetts is $15.00 per hour, which goes to show the state’s commitment to improving living standards for workers.To put this into perspective, a full-time worker earning the minimum wage in Massachusetts would make approximately $31,200 annually before taxes. This contrasts with the state’s average hourly rate of around $36.77, which indicates a wage structure that far exceeds the minimum wage threshold.The role of the minimum wage in Massachusetts is vital, especially given the state’s high cost of living. For those earning the minimum wage, it can be challenging to maintain a comfortable lifestyle, particularly in urban areas like Boston.Given Massachusetts’s strong economic position, the interplay between average salaries and the minimum wage becomes big. While the minimum wage provides a baseline, the state’s average salaries are generally a lot higher, so it’s an attractive destination for job seekers.Massachusetts’s high average salaries and increasing minimum wage show its vibrant labor market dynamics.Educational attainment profoundly influences salary potential in Massachusetts. If you have a high school diploma, you can expect an average salary of around $46k. However, investing in a bachelor’s degree notably boosts your earning potential to approximately $73000-80000 annually. Advanced degree holders, such as those with a master’s or professional degree, often see average salaries exceeding $90,000.This premium on higher education reflects the value employers place on specialized skills and knowledge. Specialized fields like engineering and healthcare show even higher salaries. For instance, Preventive Medicine Physicians can earn upwards of $450,000 annually. The level of education you attain directly impacts your earning potential.By pursuing higher levels of education, you can access better job opportunities and higher salaries. In Massachusetts, the correlation between education and salary is strong, making it important to evaluate educational attainment when planning your career path.High-paying job markets, such as tech and healthcare, greatly influence the average salary in Massachusetts in 2024.Professions like Preventive Medicine Physicians and Pediatric Dermatologists are among the highest earners, with annual salaries upwards of $450,000. These figures considerably contribute to the state’s high average salary.In other sectors, common roles like Radiology Technologists and Lawyers also earn competitive salaries, with average annual salaries of $99,165 and $102,752, respectively. These figures indicate strong compensation in the healthcare and legal sectors, which are critical components of Massachusetts’ economic landscape.The salary range for most professions spans from $46,230 at the 25th percentile to $84,265 at the 75th percentile. This shows clear variations based on experience and specialization. This dynamic suggests that the average salary in Massachusetts is heavily influenced by high-paying industries and professions, making it a desirable location for career advancement and financial stability.Experience plays an essential role in shaping salaries in Massachusetts, with a notable correlation between the number of years worked and the average annual salary. As you gain more experience, your salary is likely to increase, reflecting your growing expertise and value to employers.Entry-level positions in Massachusetts typically start around $46,000, providing a solid foundation for career advancement.As you progress in your career, reaching mid-level positions can see your salary jump to upwards of $65,000. This increase is particularly notable in sectors like technology and healthcare, where specialized skills and extensive experience are highly valued.Those with over 10 years of experience can expect to earn salaries in the higher percentile range, often exceeding $84,265 annually.Advanced degrees and certifications further amplify this trend, enabling professionals to command salaries considerably higher than the state average. For instance, individuals with specialized expertise can earn upwards of $100,000 based on their experience and qualifications.What can you earn in Massachusetts if you’re at the top of your career ladder?Specializing in high-demand healthcare fields can land you some of the highest average salaries in the state. Here are a few top-paying positions to evaluate:These high-paying positions demonstrate that specializing in certain medical fields can lead to extraordinary financial rewards.The healthcare industry isn’t only lucrative but also offers a wide range of job opportunities from surgeons to specialists. If you pursue careers in these specialized fields, it could greatly enhance your earning potential in Massachusetts.Here’s a table outlining some of the best-paid jobs in Massachusetts:On the other hand, here’s a table outlining some of the least well-paid jobs in Massachusetts:Overall, Massachusetts ranks quite high in terms of the average salary in 2024, standing at $76,600. This figure is a 3.5% increase from the previous year. With an average hourly wage of $36.77, Massachusetts outpaces the national average by about 10%. High-paying sectors, particularly in healthcare and technology, drive this competitive salary landscape. Experience, education level, and profession greatly impact earnings, making some jobs stand out as the highest paying in the state.Still, some jobs aren’t paid as well, such as jobs in teaching, the food service industry, and customer support.If you’re considering moving to Massachusetts, be aware that the costs of living might be higher than what you’re used to. Always make sure to see your salary in the context of your expenses, which might be higher in the Bay State.To learn about salaries in other parts of the world, read our articles on the average salary in China and the average salary in Japan.