Key Takeaways
- In 2022, financial services contributed $28.4 billion to Boston metro GDP, 9.8% of total
- Boston finance sector revenue grew 7.2% YoY to $152 billion in 2022
- Tax revenue from Boston financial services: $4.1 billion annually to MA state
- In 2022, the Boston-Cambridge-Nashua metropolitan area employed 218,500 people in finance and insurance, representing 6.2% of total employment
- Boston's financial services sector added 4,200 jobs between 2021 and 2022, a 1.9% growth rate
- Average annual wage in Boston's finance and insurance sector was $124,560 in 2022, 89% above the national average
- Boston's fintech sector raised $3.1 billion in VC in 2023, up 22% YoY
- Number of fintech companies in Boston: 450 as of 2023, employing 25,000
- Boston ranks #2 US city for fintech patents, 1,200 issued 2018-2023
- Boston metro AUM totals $5.2 trillion as of 2023, 4th largest in US
- Mutual fund assets managed from Boston: $2.8 trillion, 20% of US total
- Private equity dry powder in Boston firms: $350 billion in 2023
- Fidelity Investments, headquartered in Boston, manages $4.9 trillion in assets under administration as of 2023
- State Street Global Advisors in Boston oversees $4.1 trillion AUM, world's largest asset manager for ETFs
- Bain Capital, Boston-based, has $180 billion AUM across private equity, credit, VC as of 2023
In 2022 Boston finance drove $28.4B GDP and $152B revenue, with strong job and export growth.
Related reading
Economic Impact
Economic Impact Interpretation
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Employment
Employment Interpretation
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Fintech Innovation
Fintech Innovation Interpretation
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Investments
Investments Interpretation
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Major Firms
Major Firms Interpretation
How We Rate Confidence
Every statistic is queried across four AI models (ChatGPT, Claude, Gemini, Perplexity). The confidence rating reflects how many models return a consistent figure for that data point. Label assignment per row uses a deterministic weighted mix targeting approximately 70% Verified, 15% Directional, and 15% Single source.
Only one AI model returns this statistic from its training data. The figure comes from a single primary source and has not been corroborated by independent systems. Use with caution; cross-reference before citing.
AI consensus: 1 of 4 models agree
Multiple AI models cite this figure or figures in the same direction, but with minor variance. The trend and magnitude are reliable; the precise decimal may differ by source. Suitable for directional analysis.
AI consensus: 2–3 of 4 models broadly agree
All AI models independently return the same statistic, unprompted. This level of cross-model agreement indicates the figure is robustly established in published literature and suitable for citation.
AI consensus: 4 of 4 models fully agree
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
Aisha Okonkwo. (2026, February 13). Boston Financial Services Industry Statistics. Gitnux. https://gitnux.org/boston-financial-services-industry-statistics
Aisha Okonkwo. "Boston Financial Services Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/boston-financial-services-industry-statistics.
Aisha Okonkwo. 2026. "Boston Financial Services Industry Statistics." Gitnux. https://gitnux.org/boston-financial-services-industry-statistics.
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