Investment Banker · Salary Comparison · 2026
Investment Banker Salary: Memphis, TN vs Boston, MA
Side-by-side comparison of salary, taxes, cost of living, and take-home pay for Investment Bankers in Memphis, TN and Boston, MA, based on BLS OEWS 2026 data.
1Which City Pays More After Tax?
Higher Gross Salary
✓ Boston, MA
$105,000 vs $171,000
Better Purchasing Power
✓ Memphis, TN
$126,506 vs $105,556
Best Take-Home (COL-Adj)
✓ Memphis, TN
$116,892 vs $92,657
2
Detailed Comparison
| Metric | Memphis, TN | Boston, MA | Diff |
|---|---|---|---|
| Median Annual Salary | $105,000 | $171,000▲ | -$66,000 |
| 25th Percentile | $80,850 | $131,670▲ | -$50,820 |
| 75th Percentile | $134,400 | $218,880▲ | -$84,480 |
| 90th Percentile | $168,000 | $273,600▲ | -$105,600 |
| Cost of Living Index | 83 | 162 | -79 |
| State Income Tax | 0%▲ | 5% | -5% |
| COL-Adjusted Median | $126,506▲ | $105,556 | +$20,950 |
| Est. Annual Take-Home | $97,020 | $150,104▲ | -$53,084 |
| COL-Adj. Take-Home | $116,892▲ | $92,657 | +$24,235 |
| Total Employment | 6,400 | 33,600 | -27,200 |
▲ = Higher value wins for this metric. Diff = Memphis, TN minus Boston, MA.
3Summary Analysis
On paper, Boston, MA pays $66,000 more (median: $105,000 vs $171,000). However, after adjusting for cost of living (index 83 vs 162), Memphis, TN provides better purchasing power ($126,506 vs $105,556 equivalent). Memphis, TN has no state income tax, which is a significant advantage.
Data: U.S. Bureau of Labor Statistics OEWS · 2026 · Cost-of-living indices from composite metro area data. Take-home estimates approximate only — consult a tax professional for accurate figures.