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Top Finance Cities

Where the Finance Job Outlook is Bright

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Top Finance Cities Overview: The Wall Street Journal analyzed job and salary data for the 26 occupations that account for the most jobs within the financial services industry, to determine 2008-2010 financial employment trends in each of 30 major metropolitan areas. While approximately 600,000 financial professionals were unemployed nationally as of 12/2010, the study found five metro areas in which the financial job outlook is relatively bright.

Phoenix: 95,510 finance workers. Added 1,320 (1.4%) in 2008-09. The only area among the 30 studied with a net increase. Phoenix is a major location for call centers. Leading financial employers there, with their local headcounts, include:

  • Schwab (3,200 employees; expects to hire 400 more by 2016)
  • USAA (3,000 employees; added 400 in 2010)
  • American Express (7,400 employees)

St. Louis: 69,630 finance workers. Lost 540 (0.9%) in 2008-09. Major financial employers headquartered here:

  • Stifel Financial Corp. (2,600 employees added since mid-2008)
  • Edward Jones (expanding its St. Louis HQ building and has 300 branches locally)
  • Wells Fargo Advisors, formerly A.G. Edwards
  • Scottrade (1,300 employees and no layoffs in its 30-year history)

Baltimore: 68,390 finance workers. Lost 600 (0.9%) in 2008-09. Major employers:

Fort Worth: 36,200 finance workers. Lost 330 (0.9%) in 2008-09.

Denver: 73,110 finance workers. Lost 880 (1.2%) in 2008-09. Major employers:

  • Janus Capital
  • Scottrade (adding 300 employees over next 5 years)
  • Schwab (1,800 employees; adding 200 in 2011, matching 2010 hiring)

Source: "Weathering the Storm: The Top Five Finance Cities Through the Crisis," by Kyle Stock, The Wall Street Journal FINS online career news, 12/21/2010.

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