New college graduates might want to consider Boston as a potential launching pad for their career.
According to a new report by financial advice site Bankrate.com, Boston is the No. 6 best city for starting a successful career, thanks to its pay potential, opportunities for career advancement, and quality of life.
The personal finance website evaluated 100 U.S. cities based on several factors young people should consider when starting their careers, including job prospects, pay potential, quality of life, social opportunities and career advancement.
New York City took the No. 1 spot due to its high rankings for career advancement, pay potential, quality of life and the city’s social opportunities, followed by Los Angeles and San Francisco.
For individual rankings, Boston took the No. 3 spot for prospects of high pay, and placed No. 6 in terms of career advancement.
“Boston’s educated population and higher-than-average share of 20- to 29-year-olds mean new arrivals should find plenty of social opportunities,” Bankrate.com added.
Bankrate banking analyst, Claes Bell, CFA, said in a statement that job seekers most focused on quickly landing an entry-level position might disagree with the rankings, because early-career competition in Boston is stiff, but Bankrate wanted to paint an accurate picture of young workers’ overall quality of life.
“Although young grads will be faced with major competition for available jobs in these top cities, the opportunities for career growth and quality of life among peers far exceed what is offered in less competitive job markets,” Bell said.
The study analyzed 100 U.S. cities based on metro areas with populations of above 250,000 and per capita GDP levels of above $40,000.
The only area Boston did poorly in was its unemployment rate among 20- to 24-year-olds, which suggests it can be difficult for young people to find an entry-level position.
If you work in technology, however, finding a job shouldn’t be too hard for you since the demand for skilled tech workers has never been so dire.
This year Massachusetts ranked as the most difficult state in the country to hire tech workers, along with Maryland and Virginia, according to an index published by the Massachusetts High Technology Council, a trade group in Waltham.
Read Bankrate’s full report here.