Best U.S. Cities for Finance Workers to Live In
Which cities are the most economical for financial professionals to reside in? And does it really matter? After all, choosing a profession in finance should ensure you a stable income, right?. Personal financial advisers, for example, received a median annual salary of little more than $90,640 in 2017, while financial managers made more than $125,080. Both of those numbers are much more than the median household income in the United States, which is $62,175. But, since you are a finance worker, we are sure you want to save a good chunk of your salary as well. So here is our list of some of the best U.S. cities for finance workers. Once you choose the ideal city, Best Long Distance Movers can help you pick the perfect mover as well.
Top 10 U.S. Cities for Finance Workers
If you reside in a city with a high cost of living, your paychecks may not extend as far as you’d like. By relocating to a less expensive location, you may be able to better your financial status. To create this list, we used a number of specific data metrics like income tax rate, after-tax income for finance workers, the number of job opportunities available in the city, home value, and so on. So here are some of the most popular cities for finance workers in the USA.
1. Boston, Massachusetts
Fidelity Investments and Putnam Investments, two of the world’s most renowned asset management companies, have their headquarters in Boston. Asset management jobs in Boston are more stable than those in investment banking or trading. Even when other fields suffer during difficult times, finance workers do not. You’ll always have something to do in Boston. Boston’s economic stability makes it an attractive location for financial workers during economic downturns or market declines.
It’s no secret that the city’s sports fans are diehards, especially in light of the Red Sox’s recent success. For those who are interested in American history, Boston is a great place to visit, as the city is located close to both the coast and the mountains. If you like the vibe of Boston, feel free to call long-distance movers Boston and schedule your move in just a few simple steps.
2. Chicago, Illinois
With the Chicago Board Of Trade (CBOT) and the Chicago Mercantile Exchange (CME), Chicago is a hub for futures and derivatives trading, making it a popular destination for investors. Large financial institutions and brokerage firms are also frequently found in America’s “second city.” So if you want to become a part of one, long-distance moving companies in Chicago can help you find your way to the Windy City.
Despite the fact that Chicago is home to thriving nightlife and sports teams, as well as a thriving music scene, the Windy City’s winters are significantly colder than the temperatures indicate. Chicago is the best place to be if you have a lot of foreign partners or your job requires you to travel frequently. There are frequent flights to all corners of the country from here and almost all of the major cities in Europe, Asia, and Africa.
3. New York City, New York
As the world’s financial capital, New York City is often referred to as “the Big Apple” or “the City of Dreams”. Goldman Sachs, Morgan Stanley, and Merrill Lynch are just a few of the world’s largest investment banks that have their headquarters in New York City. Several large financial institutions, including Citigroup and JPMorgan Chase, are in the same boat. Almost every major global financial institution has a presence in New York, including the World Bank and the World Bank Group. The city suffered a significant loss of jobs during the financial crisis, but Wall Street remains the most desirable location.
A hot spot for culture and nightlife. New York City is home to Broadway productions, fine dining, music and art museums, clubs and bars, and sporting events, among other attractions. If you want to try your luck in New York, contact the best long-distance movers New York to make your dreams come true.
4. San Francisco, California
San Francisco is known as the “financial capital of the West” because of its financial industry. A large number of brokerage and banking firms have offices in the San Francisco area, and many large companies, such as Charles Schwab and Franklin Templeton Investments, have their headquarters in the city. Due to its geographic location near Silicon Valley, San Francisco has a strong emphasis on the technology sector, while the Bay Area is also known for being the global headquarters of the venture capital industry.
San Francisco has a lot of natural beauty, including beaches and parks, and it is relatively close to a lot of outdoor opportunities, making it a popular destination for city dwellers who enjoy being outside in the summertime. Despite the fact that the weather in San Francisco can be foggy, temperatures are generally mild. San Francisco is on the more expensive side. However, just like in New York, you’ll be able to earn much more than the average salary. After all, in the finance world, connections are everything. You’re bound to meet a lot of people who can help you go up the ladder. This is why San Francisco is so high up this list. With a little bit of luck and a little bit of guidance, anything is possible. So if you’re striving for more, we suggest you start asking the best moving companies in San Francisco for moving quotes.
5. Detroit, Michigan
Historically, culturally, and technologically Detroit has a lot to offer. French explorers first arrived in this Michigan metro area, which borders Canada, and their influence can still be seen in the mispronounced street names. Detroit’s population is gradually shifting. Millennials are increasingly choosing to live in the heart of the city because of the low cost of housing and the variety of neighborhoods available. The cost of living here is lower than the national average, including things like food and utilities. Which makes it one of the best cities for finance workers in the country.
You’ll have no trouble landing a job in Detroit. Especially as a financing worker. There is no lack of opportunities. In recent years, the city of Detroit has increased its spending on public spaces and infrastructure. Transportation is becoming more manageable. More people are taking advantage of the bus service because of the increased reliability, more convenient routes, and a more uniform payment system. Commuting without a car becomes easier with each day.
The people of Detroit are some of the friendliest in the United States. There is a fantastic music scene, both locally and as a destination for national acts. Food and drink are starting to get a lot of attention these days. It’s a treasure trove of Art Deco architecture, but there are also many wonderful examples of architecture in other styles. Contact best movers Detroit if you choose to settle in this friendly community.
6. Los Angeles, California
It’s not hard to get a job in Los Angeles. Even with the average salary, you’ll be able to afford to live comfortably here. Expats, on the other hand, need to make their CVs and cover letters stand out from the rest of the applicants in order to get the job they want. Most people think of only Hollywood and the entertainment industry when thinking about working in Los Angeles. But there are plenty of employment opportunities in Los Angeles. Especially for finance workers and those interested in the startup culture in The City of Angels. LA is a great place to start a business in any industry.
The city of Los Angeles is also a great place to start a business. A wide variety of coworking spaces are available, as well as a slew of networking/shopping events. Opportunities to build your own business, learn from others and explore new possibilities are also available. LA’s startup culture, rising tech scene, and multicultural landscape make it an ideal location. Collaboration and support can come from a wide range of backgrounds and ideas.
7. Seattle, Washington
Washington’s largest city, Seattle, is a burgeoning metropolis where the local population, job opportunities, and average salary are all steadily increasing year after year. Seattle’s economy is thriving, providing a significant number of job opportunities for those who live and work in the region, as well as an above-average career outlook for those who choose to pursue a career in the city. Residents of this city earn a median annual income of $63,120, which is more than $12,500 more than the national median income. If that sounds good to you, feel free to hit up a few long-distance moving companies Seattle and get your first free quote.
From 10.4 percent in 2010 to 4.6 percent as of July 2019, the unemployment rate in the state has decreased significantly. It is only 3.9 percent in Seattle, and the city’s job growth rate is expected to remain steady at 2.4 percent for the rest of the year. The tech companies that have settled in Seattle have brought with them a diverse range of business positions. According to the Bureau of Labor Statistics, jobs in the business and financial sector account for a total of 8 percent of all employment in the city, followed by jobs in management (5.6 percent), jobs in sales (9.3 percent), and jobs in office and administrative support (5.1 percent) (13.3 percent.)
8. Sacramento, California
Sacramento’s ideal position is only an hour and a half from San Francisco and close to nearby national parks. While the neighborhood is somewhat touristy, the city itself has a lot to offer people. While the cost of living in Sacramento is greater than in other parts of the country, it is not as high as in other cities in California. A reasonable average wage in the city is approximately $138,000 to provide for savings and unexpected expenses. In our opinion, one of the most suitable cities for finance workers. Los Angeles costs 46.6 percent more than Sacramento, and San Diego costs 35.4 percent more.
If you’re seeking work after relocating to Sacramento, you’ll be relieved to learn that you won’t have to look long. In 2021 alone, the area’s overall employment climbed by 9%. The city and surrounding counties presently have a total of 989,000 job openings. Nowadays, Sacramento’s economy is driven by a diverse range of industries, and it is this job diversity that has contributed to the city’s prosperity. Numerous businesses now offer remote job options, which is an excellent choice for commuters. While Sacramento does not have the same concentration of industry leaders or globally famous technology companies as San Francisco or San Jose, numerous prominent brands have chosen to establish their headquarters in Sacramento. If you’d like to find your place in Sacramento as well, the best long distance moving companies Sacramento can help you with the move.
9. Denver, Colorado
The Mile High City, also known as Denver, is one of the most picturesque places in the country. Although it has influenced numerous artists and musicians, its beauty has been a constant source of inspiration for countless others. Both the physical and metaphorical wind will take your breath away when you see the area’s brand-new, sparkling façade.
Affordability and housing price appreciation in Denver is on par with the San Francisco Bay Area and Seattle. With the median property price increasing by 10% to $420,000 in 2018, the average monthly rent for an apartment is $1,519. In Denver, higher-paying occupations are readily available as a result of the city’s high demand from major corporations. As a result, there is more competition for a high-quality jobs than ever before. Your earnings in Denver are high enough to cover the high expense of living there. If you want to start living more comfortably, call long distance movers Denver today and secure your moving date.
10. Austin, Texas
Austin’s job market is one of the best in the country, according to a recent study. The city of Austin’s average wage is $64,000. Finance workers earn an average of $89,680 each year. Between September 2018 and September 2019, Austin and the surrounding area saw a 3.6 percent increase in employment. As a result, Austin was recognized as having one of the year’s most vibrant job markets. At just 3.9 percent unemployment in September 2019, Austin’s rate was two percentage points lower than the national average.
Low company costs aren’t the only thing Austin has to offer. In addition, the cost of living is a major draw for newcomers. Austin is one of the most desirable cities for finance workers. Food, transportation, and utility costs are lower in Austin than they are in the rest of the country. Affordable healthcare and housing options are also a big draw for Silicon Valley workers who prefer to live outside the area’s famed tech hub.