As Massachusetts Graduates Toss Their Caps, Many Also Plan Their Exit

It’s that time of year again: College commencement season. Our graduates represent the future of our workforce—but will they stay in Massachusetts to build that future?

Massachusetts has long prided itself on its prestigious higher education landscape. The concentration of academic excellence consistently produces some of the nation’s brightest talent, forming the foundation of the state’s knowledge-based economy and long-standing prosperity.

Despite this excellence, Massachusetts struggles to retain its graduates.

The Exodus of Talent

Recent Mass Opportunity Alliance polling shows that 81 percent of Massachusetts voters are worried that a high cost of living will push recent Massachusetts college graduates to seek job opportunities outside of the Commonwealth.

This concern isn’t merely speculative—it’s already happening. Take Harvard’s Class of 2024 as an example. Only 19 percent of these graduates remained in Massachusetts after graduation. While this represents just one institution among many in the state, it offers a glimpse into a broader pattern of talent migration.

The Greater Boston Chamber of Commerce Foundation’s 2023 Young Residents Survey provides further evidence of this trend. Despite 89 percent of young adults aged 20 to 30 expressing satisfaction with their daily lives in Massachusetts, one in four planned to leave the region within the next five years. Even more concerning, only 38 percent of young residents reported being “very likely to stay” in the Commonwealth long-term.

Massachusetts as a “Talent Engine” — With a Leak

JLL’s recent analysis identified Boston as the nation’s fourth-largest “talent hub” for the Class of 2024, dubbing the city a “talent engine” due to its strong pipeline of graduates from top universities. However, this initial attraction doesn’t necessarily translate to long-term retention.

While Massachusetts may successfully attract and retain some new graduates initially, many young professionals leave after gaining some work experience—precisely when these talented young professionals become most valuable to local employers. 

In fact, 44 percent of our net income loss comes from mid-career professionals in the critical 26-to-44 age bracket. Ultimately, this is a core population who are no longer choosing to put down roots in Massachusetts.

Job availability ranked as the top priority among young residents, followed by the cost of rent and the ability to buy a home.

These statistics reveal a critical disconnect between what young professionals prioritize—career opportunities and affordable housing—and what Massachusetts currently offers. The state’s renowned innovation ecosystem provides abundant job opportunities, but the prohibitive cost of living and high taxes that may drive job creators out of state threaten to undermine this advantage. 

Massachusetts invests heavily in educating tomorrow’s workforce only to watch that investment depart for more affordable regions. For employers, this translates to increasingly difficult workforce shortages, hampering business growth and economic development across the state.

Conclusion

As commencement speakers across Massachusetts inspire the Class of 2025 with visions of bright futures, policymakers must address the factors driving talented graduates away. By fostering a healthier business environment and an affordable environment where young professionals can see a future, and not just a launchpad, policymakers can help stem the flow of talent from the Commonwealth.

Massachusetts must transform from a place where students come to learn into a place where graduates choose to build their careers and raise their families. The economic and cultural vitality of the Bay State depends on it.