According to a report prepared by Cook Associates, New York City surpassed Boston in terms of internet and digital media hiring by tech firms. This can be attributed to companies like Google (Nasdaq: GOOG) hiring a lot more people in New York City as opposed to Boston. John Barrett, a Cook Associates’ who is jointly based in Boston as well as New York shared that the growth rate of hiring is twice as much in New York City. This seems to be happening at the same time when venture capital funding has also slowed down in Boston area quite a bit. VC dollars seem to also flow in the direction of New York.
There is some hard data behind this claim such as Google hired 700 people in New York City and only 85 in Boston in the year 2012. Barrett also shared that hiring growth slowed down in Boston in the second half of 2012 and will continue to be mediocre for another three to six months. Cook Associates is using LinkedIn data to do their analysis on the region.
If we look at the profile of companies in the Boston area, Monster Worldwide (NYSE: MWW) has been the biggest employer in the region with more than 1000 employees, but it has been shedding jobs. According to Cook Associates, the companies that may surpass Monster Worldwide in Boston are Google and Vistaprint (Nasdaq: VPRT).
The following 10 companies showed the largest headcount gains in the Boston area during the fourth quarter of 2012:
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According to Cook Associates, the following developing companies show signs of large headcount gains in the Boston area: