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:
- T. Rowe Price (5,000 employees; 200 added in 2010)
- Legg Mason (5,000 employees)
- Alex, Brown (division of Deutsche Bank
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.