Finance is a hugely competitive industry that many want to get into. Finance occupations are considered some of the toughest, most challenging around and are certainly not for the fainthearted. However, there are finance jobs available in just about every city worldwide, including the United States. Some cities, however, offer more opportunities than others.
Some cities tend to be more stable during economic downturns, meaning the finance industry tends to thrive there. However, some of the cities with the most finance jobs may surprise you.
If you’re looking for a career in finance or searching for new opportunities elsewhere in your field, you’re probably wondering which US cities have the most finance jobs. With the sector continuing to expand and attract job-seekers, the finance industry is more competitive than ever. That is why we have identified the top five US cities that are tailored toward finance-based careers.
We have collected data from sources, including Numbeo and Glassdoor, and created a reliable index to rank different US cities in terms of which is best for securing a job in finance.
Our data takes into account average salary, population, average rent per month, the number of finance jobs available, and the number of finance opportunities per person. We have then given each city an overall score and total index based on the index scores of each category.
It is no surprise that New York is number one on our list of cities with the most finance opportunities in the US. It is typically considered to be the finance capital of the world with some of the largest investment banks, such as Goldman Sachs, Merrill Lynch, and Morgan Stanley. There are other large banks, too, including JPMorgan Chase and Citigroup based in New York.
Wall Street is undoubtedly the palace to be for finance opportunities and being the city that never sleeps, there is a lot to do in your downtime too.
Here is some of the data on New York:
With a total score of 2.86, and over 5,000 finance opportunities, New York is by far the city with the most finance jobs available.
Home to the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT), Chicago, Illinois is a hotspot for trading and finance. Considered to be the United States’ “second city,” Chicago is home to some large banks and brokerage firms.
Here is some of the data on Chicago:
Chicago has a total score of 2.49, meaning it is not far behind New York but has a lot fewer finance opportunities.
This one may surprise you but Arlington, Texas is the third-best city in the US in terms of the number of finance jobs. The finance sector has grown significantly in Arlington over recent decades. So much so that it is now a hub for finance and career opportunities.
Here is the data on Arlington, Texas:
With rent being considerably cheaper than New York and Chicago, Arlington is a city that many are attracted to.
When looking at our data, Detroit came in fourth with the most finance opportunities in the US. The second-largest city in the Midwest region, Detroit is regarded as a major cultural center with a rich history of art, music, design, and architecture. But, in recent years, it has been growing on the financial ladder and now has a host of financial opportunities.
Here is the data for Detroit:
Detroit has the second best salary for financial jobs in the whole of the US, but there are a great deal fewer opportunities per person.
Boston is renowned for asset management businesses and some of the leading money management firms, including Putnam Investments and Fidelity Investments are headquartered here. Whilst the job market can be tumultuous at times in Boston, asset management opportunities tend to remain more stable for trading or investment banking. With such stability, Boston is an appealing location for financial workers to turn to, especially during economic downturns.
Here is the data on Boston:
Boston is a very appealing city for financial opportunities but the rent is one of the highest in the country.
Here are the 5 worst cities in terms of finance job opportunities in the US according to our data:
New York has the most financial job opportunities by far in terms of cities throughout the US, but many factors need to be taken into consideration, such as average salary per month and the average rent per month.
Whilst cities such as Sacramento do not have as many finance opportunities available, the overall cost of living may suit some more than others.