When one pictures the financial trading industry, the images of Wall Street and Manhattan loom large. Indeed, New York City is the commercial capital of the United States, home to the biggest financial markets and the most Fortune 500 companies in the world.
Despite being one of the cities with the best stock markets, NYC isn’t for everyone. The cost of living is significantly higher than the average US city, and elevated tax rates means that more of your paycheck’s gone missing before it even hits your bank account.
As far as financial hubs in the US go, it’s just one of many different options. Therefore, if you’ve burned out on the Big Apple, check out this list of 10 other cities that are great places for finance industry professionals to call home.
10. St. Louis, MO
St. Louis has something for everyone. From its music and arts scene to its neighborhoods and nightlife, St. Louis has a history of attracting young adults, retirees, and families. There are two major companies you can work for: Stifel and St. Louis Financial Group. Stifel has been operating since 1890 and has many subsidiaries throughout the U.S. and Europe. In other words, St. Louis can provide a great steppingstone to working in a bigger city or even another country.
9. Columbus, OH
Are you looking for a trading position that will give your family the comfort of midwestern life? Columbus may not be the first place that comes to mind, but it does provide a home to Hamilton Capital, which is considered to be the top financial advising company in the area. Moving to Columbus from NYC or another major city will provide you with quite a cost-of-living cut, although Columbus does cost more than the rest of Ohio. Overall, this is one of the country’s best cities for finance jobs.
8. Houston, TX
Houston is a thriving, multicultural city. Currently listed as the fourth-most populated city in the U.S., Houston provides a fantastic place to live if you’re looking for diversity. Another nice touch about Houston is how friendly it generally is. When you’re not trading, you’ll be encouraged to live a no-frills, normal lifestyle by your neighbors. You’ll also find a wealth of different trading companies to work for, including Business Insider’s Best Overall Online Broker, Charles Schwab.
7. San Antonio, TX
San Antonio has a reputation for being affordable and beautiful. It’s also considered one of the best places to raise a family in Texas. This hotspot in south-central Texas offers a lower cost of living than the national average, which enables traders to live an exciting life without all the hassles of being in NYC. There are also tons of day trader courses available in San Antonio, so it’s easy to work here as you improve your skills and earn your trading certificate. San Antonio is definitely one of the best cities for trading jobs.
6. Las Vegas, NV
Las Vegas may have a slightly higher cost of living than the national average, but it’s still cheaper than New York City. Plus, it’s rated as one of the top 10 U.S. cities for traders to live and work in. Rather than working on Wall Street, you’ll be able to make trades during the day and hit the casinos at night. Although Las Vegas can be quite hot in the summer, it has a dry climate, which works much better than NYC’s pervasive humidity. Where do traders work in Las Vegas? At proprietary trading firms, sportsbooks, and casinos.
5. Miami Beach, FL
This Southern Florida city’s trading jobs are really beginning to take off, which is great news for those who love having beach access, a roaring nightlife, and a warm climate. Unlike the other U.S. cities on this list, Miami Beach is actually a barrier island, located approximately 3 miles offshore. In other words, not only can you easily find work as a day trader but you can also relax after work among the palm trees. The tradeoff, however, is that Miami Beach’s cost of living is 37% higher than the national average. Of course, in a place as magical as Miami Beach, it’s easy to justify paying more.
4. Boston, Massachusetts
Though it’s located just a few hours up the East Coast from New York, life in Boston is strikingly different. It’s a smaller city with a friendlier, more personal feel, and easier access to the quaint towns and lovely natural areas that lie beyond the city limits — perfect for anyone who needs a regular escape from the concrete jungle. The city is home to a large number of world-class universities as well as major financial institutions, yet the cost of living is much more reasonable than London or NYC. Boston is proud to be one of the cities with the best stock markets, which also includes Chicago.
3. Chicago, Illinois
The Windy City is another excellent destination for financial professionals. It’s bursting with great restaurants and a vibrant cultural scene, while maintaining a laid-back, welcoming feel throughout its many distinct neighborhoods. Like Boston, in Chicago you’ll be able to afford a decent apartment and have the option of eating out; geographically speaking, you can’t beat living on the shores of one of the Great Lakes! Chicago’s financial industry is big and only getting bigger, and it happens to be one of the cities with the best stock markets in the country.
2. Atlanta, GA
If you’d like to work in a city known for its Southern hospitality, then Atlanta could be ideal. With its vibrant nightlife, rich history, and plentiful arts and entertainment opportunities, Atlanta offers a fantastic place to raise a family. Plus, its reputation in the tech sector has earned it the nickname ‘Silicon Peach.’ Atlanta also embraces immigrants for their innovative practices, so this is the place to choose if you’d like to live in a diverse neighborhood.
1. San Francisco, CA
Ranking just behind NYC for trading careers, San Francisco has a higher cost of living than the national average, but it’s way more affordable than living in NYC. The city places a major emphasis on sustainability and healthy living, which has attracted many people. Once you toss in the stunning landscapes and progressive culture, San Francisco just might be the right place for you. Even better, this global technology hub has a wide number of companies that are looking for traders, so it’s definitely one of the top spots where traders work.