Presented by California Bank & Trust, Business Banking
Almost every city having significant urban population offers opportunities in finance. However, there are some cities that are more suitable for a job in finance owing to the clusters of financial companies that have made these cities their base. Most of these cities are globally renowned for more than one reason. Here are the top global cities for those looking for different opportunities in finance:
The world has grown in a more livable place over the course of human civilization. However, some cities have been the pivots of this growth, always favored by the humans owing to the advantage offered by them in terms of their geographical location, weather and other natural factors. Over the years, these cities have grown into commercial hubs, attracting more and more migrants from nearby and distant places looking for an opportunity to earn their living.
Evolution has accorded these cities special status in terms of their financial prowess. Here are the four cities that offer the best opportunities for finance graduates:
Best cities to take up finance jobs in
New York, USA
New York is the ultimate dream destination for anyone looking at a stint in the field of finance. Besides its world famous bridges, skyscrapers, and parks, New York City has what is the holy grail of financial enthusiasts, the Wall Street.
Anchoring the city in Lower Manhattan, Wall Street houses the New York Stock Exchange, the world’s largest stock exchange by total market capitalization of the listed companies.
It doesn’t come as a surprise that the city is commonly regarded as the finance capital of the world. It headquarters some of the largest investment banks Goldman Sachs, Merill Lynch and Morgan Stanley.
When it comes to living standards, nothing beats New York. It has the greatest landmarks which have been photographed a zillion times. The cost of living has also increased owing to rise in rental accommodation and New York is now 8 places up, ranking 16 in the 2014 Mercer Cost of Living Rankings.
The capital of Japan is the most populous metropolitan area in the world along with being the largest metropolitan economy globally.
The city is a vital international finance center, a home to headquarters of a number of major investment banks and insurance companies.
Experts call Tokyo as one of the three command centers of world economy, London and New York being the other two. The city houses Tokyo Stock Exchange, which is Japan’s largest stock exchange, and the third largest in the world by market cap.
Who would not try and make a financial career here? 51 of the Global 500 S&P companies are based here, a highest for any city in the world, and almost twice that of the second-placed city.
Tokyo is accorded the status of alpha+ world city, and as per Mercer 2014 City Cost of Living rankings, is placed 7th.
London, United Kingdom
London is another financial powerhouse, with a large fraction of experts arguing it to be the rightful financial capital of world. The city has been a major human establishment for more than two millenniums, with its history and glory going back to the time when Romans were the most powerful tribe in the world.
Situated on the banks of Thames, the city is currently capital of United Kingdom and also its most populous city.
London is purely a financial city, with its largest industry being finance and its financial exports making it a large contributor to the UK’s balance of payment. Until mid-2007, the city had almost 325,000 professionals employed in financial services.
There are 480 multinational banks in the city, highest in the world. Over 50% of the UK’s listed companies and 75% of the Fortune 500 organizations have offices in London, making it a job seeker’s paradise. As per the Mercer 2014 COL rankings, London is 12th in the list.
One of the fastest growing cities in the world, Dubai is already the financial capital of Middle East, and is rapidly growing to become a globally powerful center of finance. A number of international financial institutions are queuing to open their staff regional offices here.