Since the depths of the Great Recession in 2008 and 2009, the economy of Massachusetts has managed to rise by more than 45%, adding billions in value over the past 10 years.<!- mfunc feat_school ->
Nearly 200,000 employer firms operate across the state, employing close to 4 million people. Massachusetts boasts one of the most robust healthcare sectors in the country, with education and health services accounting for nearly 1 in 4 jobs in the state. Massachusetts’ business and professional services and transportation and utilities sectors also are quite robust, each accounting for about 15% of jobs. The startup scene in Massachusetts also is incredibly hot, with $1.8 billion in startup investments in the third quarter of 2019 alone, the third-highest among all the states.
Home to almost 40 Fortune 500 companies, including General Electric, No. 21 on the Fortune 500 list, Massachusetts is an ideal location for individuals with the expertise, training and passion for business analytics. Such a degree opens doors to satisfying careers in virtually any industry, from healthcare to startups to education and the public sector, since every type of organization requires the work of people with advanced training in business analytics.
What programs are available here in Massachusetts, what are some typical salaries for people with Master’s of Business Analytics degrees, and what are examples of possible employers in Massachusetts?
Business Analytics Salaries in Massachusetts
There are nearly limitless options for job titles after a master’s degree in business analytics, with common titles including Business Analyst but also encompassing jobs that relate directly to one area of business or another, such as budgets, investing, management, marketing and more.
Some of the business analytics job titles possible in Massachusetts include:
Business analytics job titles you can find in Texas include:
- Data Scientist
- Management Consultant
- Financial Analyst
- Insights Analyst
- Market Research Analyst
- Budget Analyst
- Research Executive
- Decision Engineer
- Operations Research Analyst
- Quantitative Modeler
Generally, business analytics roles tend to be widely available in Massachusetts, as well as being relatively lucrative compared to the rest of the United States. To understand the state of business analytics employment in the commonwealth, we’ll dig into data published by the U.S. Department of Labor’s Bureau of Labor Statistics using a sampling of business analytics job titles — Budget Analyst, Financial Analyst, Management Analyst, Market Research Analyst and Operations Research Analyst. It’s important to remember, though, that people with highly advanced training, including a Master of Business Analytics, will likely command higher salaries than what the typical person commands.
In four of the five business analytics jobs we examined, salaries in Massachusetts are higher than the overall national median, with just Operations Research Analyst wages lagging, though it’s not a huge difference.
Median annual wage, Massachusetts vs. U.S.
|Market Research Analyst||$67,920||$63,120|
|Operations Research Analyst||$79,150||$83,390|
Massachusetts ranks No. 6 in the nation for the median salary for Management Analysts, ahead of New York and California, which are the two main centers of capital investment in businesses.
Median annual wage, Management Analyst
|District of Columbia||$103,300|
Massachusetts ranks in the top 15 when it comes to the availability of all five business analytics jobs we explored, but jobs for Market Research Analysts are the most prevalent, accounting for nearly 6 of every 1,000 jobs in the commonwealth. That puts Massachusetts at No. 6 for Market Research Analyst Employment.
Market Research Analyst employment per 1,000 jobs
|District of Columbia||9.727|
Whether over the next year or throughout the next seven years, business analytics jobs are expected to become much more widely available in Massachusetts, with long-term growth the highest for Operations Research Analysts.
Massachusetts job opening growth rate, short- and long-term
|Market Research Analyst||5.7%||20.1%|
|Operations Research Analyst||5.9%||24.3%|
Note: Short-term 2016-2020; long-term 2016-2026
Boston is a major national center of innovation, particularly in the health and medical technology space, and wages for most of the jobs we examined are higher in Boston than in other cities in Massachusetts.
Median annual wage, Massachusetts vs. select cities
|Market Research Analyst||$67,920||$69,420||$57,130||$63,570|
|Operations Research Analyst||$79,150||$79,110||—||$87,100|
Massachusetts Business Analytics Degree Programs
Massachusetts is home to perhaps the most prestigious university in the world, Harvard University, and the commonwealth also boasts many other very well-regarded institutions, including some that have challenging business analytics degree programs.
SEE ALSO: List of Massachusetts Masters in Business Analytics
Here’s a look at some of the colleges and universities in Massachusetts that offer degrees applicable to a successful business analytics career:
Business Analytics Degree Jobs in Massachusetts
Despite a low unemployment rate, business analytics job in Massachusetts are not hard to come by since basically every business, government agency, nonprofit or educational institution has a need for people who are able to analyze relevant data and make smart recommendations.
SEE ALSO: Masters in Business Analytics Salary Outlook
Here is a sampling of the companies that were seeking to hire business analytics professionals in Massachusetts in late 2019:
- Liberty Mutual
- WNS Global Services
- State Street
- Nestle Waters North America
- Havas Media
- Akoya Biosciences
- University of Massachusetts
- Beacon Health Options
- The Noodle Companies
- BK Medical
- Plymouth Rock Insurance
- Eagle Hill Consulting
- Bank of America
- Blueprint Medicines
- Wells Fargo
- Boston Medical Center
- Putnam Investments
For business-savvy people with a head for numbers, earning a master’s degree in business analytics or a related field could prove to be the next step to a long and successful career. With the abundance of business analytics educational options as well as a healthy employment outlook, Massachusetts remains one of the best business analytics locations in the country.
- Note: Information on recent job openings was gathered from Indeed.com and Glassdoor.com in late 2019.
- U.S. Department of Labor, Bureau of Labor Statistics, Economy at a Glance, Massachusetts. (2019). Retrieved from https://www.bls.gov/eag/eag.ma.htm
- PWC/CB Insights, MoneyTree Report, Q3 2019. (2019). Retrieved from https://www.pwc.com/us/en/moneytree-report/assets/moneytree-report-q3-2019.pdf
- U.S. Department of Labor, U.S. Bureau of Labor Statistics, Occupational Employment Statistics Query System, Custom Tables. (Undated). Accessed from https://data.bls.gov/oes/#/home
- Federal Reserve Bank of St. Louis, Total Gross Domestic Product for Massachusetts. (2019). Retrieved from https://fred.stlouisfed.org/series/MANGSP
- U.S. Census Bureau, Quick Facts, Massachusetts. (2018). Retrieved from https://www.census.gov/quickfacts/fact/table/MA/PST045218