Investment Banker · Salary Comparison · 2026
Investment Banker Salary: New York, NY vs Boston, MA
Side-by-side comparison of salary, taxes, cost of living, and take-home pay for Investment Bankers in New York, NY and Boston, MA, based on BLS OEWS 2026 data.
1Which City Pays More After Tax?
Higher Gross Salary
✓ New York, NY
$185,000 vs $171,000
Better Purchasing Power
✓ Boston, MA
$98,930 vs $105,556
Best Take-Home (COL-Adj)
✓ Boston, MA
$85,150 vs $92,657
2
Detailed Comparison
| Metric | New York, NY | Boston, MA | Diff |
|---|---|---|---|
| Median Annual Salary | $185,000▲ | $171,000 | +$14,000 |
| 25th Percentile | $142,450▲ | $131,670 | +$10,780 |
| 75th Percentile | $236,800▲ | $218,880 | +$17,920 |
| 90th Percentile | $296,000▲ | $273,600 | +$22,400 |
| Cost of Living Index | 187 | 162 | +25 |
| State Income Tax | 6.85% | 5%▲ | +1.8499999999999996% |
| COL-Adjusted Median | $98,930 | $105,556▲ | -$6,626 |
| Est. Annual Take-Home | $159,231▲ | $150,104 | +$9,127 |
| COL-Adj. Take-Home | $85,150 | $92,657▲ | -$7,507 |
| Total Employment | 54,400 | 33,600 | +20,800 |
▲ = Higher value wins for this metric. Diff = New York, NY minus Boston, MA.
3Summary Analysis
On paper, New York, NY pays $14,000 more (median: $185,000 vs $171,000). However, after adjusting for cost of living (index 187 vs 162), Boston, MA provides better purchasing power ($98,930 vs $105,556 equivalent). Boston, MA has the lower state tax rate (5% vs 6.85%).
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.