Move over, Silicon Valley. The Boston Metro is ranked among the top three major metros in the U.S. for STEM professionals, namely those engaged in science, technology, engineering or math careers. The 2021 study by WalletHub placed Seattle, WA in the top spot, with Boston following closely in second, and Atlanta, GA, posting third. The study included an analysis of 100 U.S. cities.
These are some of the main factors considered the study:
- Job openings for STEM graduates per capita
- STEM employment growth projections
- Annual median wage for STEM professionals
- Outlook for STEM worker wage growth
- Mathematical performance among students in public schools
- Quality of engineering universities
- Research & Development spending and concentration
- Quality of life, including housing affordability, recreation and social opportunities
Boston placed highly for mathematical skills among students in public education, and is arguably one of the best locations in the country for life science careers. The latter is evidenced by the year-over-year growth in lab space and the number of biotech employers and medical research firms headquartered in the Boston Metro.
The Boston Metro is also recognized for high median wages, and excellent career prospects for new STEM employees and seasoned professionals alike. However, Boston scored lower in the “quality of life” rankings, due to the median cost of housing being higher than other areas.
On the plus, the lucrative wages available in the Boston Metro attracts bright minds from the around the world. As mentioned in a prior blog post, about 60% of Boston Metro higher learning graduates stay in the area to begin their careers.
There is plenty of opportunity in the Boston Metro! When you are ready to begin, relocate or expand your business, team up with the Jay Nuss Realty Group, LLC! Whether you are thinking of buying, leasing, or investing in Boston Metro commercial real estate, we can help you find the ideal property.