Massachusetts combines long-established Boston families, some going back many generations, with newer fortunes from asset management, biotech and technology.
The family office landscape in Massachusetts
Family offices in Massachusetts are concentrated in and around:
Where family office candidates come from in Massachusetts
Boston's mutual fund and asset management firms, endowments and Big 4 offices give it one of the strongest investment accounting talent pools in the country.
Across the state, accountants and auditors earn an average of $107,170, 13% above the US average of $94,750 and #4 of 51. Financial managers average $218,230, 17% above the US average of $186,910 (BLS Occupational Employment and Wage Statistics, May 2025). Family offices usually pay above these averages to win experienced people.
Family office salaries in Massachusetts
| Role | Base salary in MA | Typical bonus |
|---|---|---|
| Family Office Controller | $190K–$260K | 15–25% |
| Family Office Accountant | $105K–$160K | 5–15% |
| Family Office Tax Manager | $165K–$230K | 10–20% |
| Family Office CFO | $325K–$525K | 25–50% |
| Family Office Chief of Staff | $165K–$270K | 15–30% |
| Family Office Operations Manager | $140K–$220K | 10–20% |
| Family Office Executive Assistant | $100K–$165K | 10–20% |
| Family Office Payroll Manager | $120K–$165K | 5–15% |
Our estimates for a single family office managing $250M–$1B, adjusted for Massachusetts using BLS pay levels for accountants and financial managers (9% above the national midpoint). Try the salary calculator for other office sizes.
Taxes, trusts and the law in Massachusetts
Massachusetts added a 4% surtax on income above $1 million in 2023, and it has its own estate tax.
How Massachusetts compares with nearby states
| State | Accountant avg. (BLS) | Financial manager avg. (BLS) | Family office controller (estimate) |
|---|---|---|---|
| Massachusetts | $107,170 | $218,230 | $190K–$260K |
| Connecticut | $101,810 | $201,260 | $185K–$250K |
| Maine | $84,880 | $151,450 | $160K–$220K |
| New Hampshire | $92,570 | $160,920 | $165K–$230K |
| Rhode Island | $99,880 | $181,400 | $175K–$240K |
| Vermont | $85,280 | $146,120 | $160K–$215K |
What this means for hiring in Massachusetts
Massachusetts is one of the ten highest-paying states for accountants (#4), so family offices compete head-to-head with Big 4 firms and large employers. Expect to pay at or above market and to move quickly when a strong candidate appears. Because Massachusetts's taxes are among the highest in the country, candidates weigh total pay, bonus and flexibility carefully, and some families hire staff who live across a state line. With several metro areas to draw from, most staff-level searches in Massachusetts can be filled locally; senior roles still benefit from a confidential, recruiter-led search.
Family office questions for Massachusetts
Does Massachusetts tax high earners more?
Yes. Since 2023, Massachusetts has added a 4% surtax on annual income above $1 million, on top of its flat income tax.
How much do family office jobs pay in Massachusetts?
We estimate a family office controller in Massachusetts earns about $190K–$260K base and an accountant about $105K–$160K. For context, accountants and auditors in Massachusetts earn an average of $107,170 across all employers, 13% above the US average (BLS, May 2025).
Where are family offices in Massachusetts?
Mostly around Boston, Wellesley, Cambridge.
Does Massachusetts have a state income tax on wages?
Yes. Massachusetts added a 4% surtax on income above $1 million in 2023, and it has its own estate tax.