What did you tell people when they asked what you wanted to be when you grew up? If your answer was “rich” than that probably narrowed down your career choices. The highest paid professions in the United States include Doctors and Lawyers, but accounting and financial services beat them both in terms of compensation.
If you are just starting in financial services, location is your most important consideration. Taking into consideration a wide variety of factors ranging from average compensation to cost of living, here is the countdown for the 10 best cities to find a job after you get your degree in finance.
10. Chicago, MI
Chicago is a thriving city in the financial services sector, home to the Chicago Board of Trade and the Chicago Mercantile Exchange. The knock on the City of Big Shoulders is that it is suffering through one of the highest rates of unemployment of any city on this list.
9. San Francisco, CA
The Finance Capital of the Western US, San Francisco benefits from its proximity to such hubs of innovation as Silicon Valley. Unfortunately, it is also suffering from high taxes, plunging real estate values, and a local government that is not very business friendly.
8. Raleigh, NC
Raleigh was one of the largest growing cities before the financial downturn, and it survived the recession through a very diversified economy that has made it a destination for companies fleeing the rust belt states.
7. Kansas City, MO
With unemployment well below the national average and hiring of financial services professionals booming, Kansas City is a great place to set up shop. Accounting professionals will find it easy to get a foot in the door at Overland Park
6. Seattle, WA
Although situated in the remote Pacific Northwest, Seattle is home to some of the wealthiest individuals in the nation. With low local taxes and an economy that has recovered faster than the national average, Seattle is a great place to build a client base.
5. New York, NY
Although situated much higher on traditional lists of this nature, New York is a mixed bag if you are just starting out in finance. Although the undisputed king of world finance with abundant positions and clients, the competition for them is as high as the infamous cost of living in the Big Apple.
4. Boston, MA
With a much lower cost of living than New York and a more stable Asset Management sector, Boston edges out New York in terms of places to find a job in finance. Boston has a thriving financial services market that does not rely so heavily on unstable ventures such as investment banking.
3. Tulsa, OK
A surprise on this list, Tulsa has one of the lowest unemployment rates in the country and ample tax incentives that have made it an attractive destination for financial services professionals. Employers have posted nationwide for positions because the need for qualified professionals far outstrips the number of them in the area.
2. Richmond, VA
Cities usually do well when they are close to the seat of power, and Richmond is no exception. Richmond thrives from its proximity to Washington, DC, benefiting from a tax system that is very friendly to building and maintaining wealth, Richmond is a shelter of sorts for the wealthy who still seek to exert influence in the Capital.
1. Houston, TX
The best city overall to begin your career in financial services, Houston combines many of the benefits of our previous cities into one super city for finance. Fueled by the energy sector and aerospace, Houston is a perpetual gold rush for the financial services sector.