Reading articles in the Wall Street Journal and the business section of The New York Times, one might be tempted to think that “finance” is a secluded little world located in Manhattan’s lower half. The New York Stock Exchange and Wall Street are, after all, actual places in New York City’s Financial District, and many of the most important banks, like Bank of America, have their headquarters in Midtown East. But it is a fallacy to think that finance jobs only exist in New York’s most famed borough. Indeed, a recent AOL Jobs article reported findings that placed San Francisco newly atop America’s financial period.
San Francisco is especially prime territory for hedge funds, because of the large amount of venture capital available in the area. Its financial market also without question benefits from the tech boom nearby in Palo Alto and Mountain View. And San Francisco as a city has plenty of attractions of its own, particularly for young, entry-level job-seekers. Its weather is milder than in New York, its atmosphere more relaxed, and its restaurant scene booming (just look at any food blog or newspaper Dining&Wine section). Yahoo! Finance also recently reported that San Francisco is among the top 10 cities in the Untied States for current overall job growth. The west-coast hub seems primed for ongoing growth.
Other cities that AOL Jobs found to be good places to look for finance jobs include Denver, Nashville, Miami, Chicago, Portland, and the smaller town, Paramus, in New Jersey. Stamford, Connecticut is another spot with close proximity to New York City that is known both for housing those with finance jobs in the city and for providing such jobs, as well. And San Diego is another California locale with its fair share of hedge funds, including Torrey Pines Capital Management. This list of cities literally strings across the whole of the United States; finance is not only a coastal industry.
Nor do the financial opportunities stop at America’s two coastlines. London and Hong Kong have long been established as global financial centers. Especially if you have already invested time in learning Mandarin, the latter is an ideal place to look. Frankfurt, Germany is another solid player on the international finance scene. Its Deutsche Börse financial marketplace made bids in 2011-2012 to take ownership of the New York Stock Exchange (NYSE), which was ultimately blocked by The European Commission for fear of the monopoly the merger might create. And Switzerland, home to some of the most prosperous cities in the world, is also famed for its banks. UBS is based in Basel and Zürich, and Credit Suisse is likewise headquartered in Zürich, a city with a population of around 375,000.
There is no denying that New York City remains the stock exchange–and thus general financial–capitol of the world, but it is far from the only place to start (or continue or end) a career in finance. New York City is also a city where it can be easy to get burnt out–a city that never stops to take a breath. And while finance is a high-powered industry everywhere, many of these other locations offer a less highly powered environment. If this appeals to you, then do not be afraid to check out opportunities in different cities–across the United States and across the globe.
