The financial services sector

[Docere]

Financial services sector employment:

Tokyo 650,000
Beijing 545,000
New York 452,000
London 353,000
Shanghai 342,000
Paris 314,000
Toronto 277,000
Hong Kong 263,000
Chicago 208,000
Singapore 196,000
Sydney 175,000
Frankfurt 137,000
Los Angeles 137,000
Boston 123,000
Montreal 115,000
Washington 80,000
Vancouver 65,000
San Francisco 59,000
Luxemburg 30,000
Calgary 26,000

Source: https://www.conferenceboard.ca/in-fa...ancial-sector/

This is more likely a headcount of the sector, so the proportion of core professionals may differ.

[Docere]

Financial activities, BLS:

New York 809,000
Dallas 384,000
Los Angeles 331,000
Chicago 323,000
Philadelphia 231,000
Miami 222,000
Phoenix 221,000
Atlanta 212,000
Boston 193,000
Houston 189,000
Washington 153,000
San Francisco 146,000

https://www.bls.gov/regions/northeas...nt_newyork.htm

Looks like there's been a move to Dallas:

https://nypost.com/2023/12/29/busine...nance-workers/

[Wigs]

That begs the question, why is Dallas not listed on the (Ottawa based) Conference Board of Canada list? Or Philly, Miami etc

[Docere]

A good question. Either different methodologies or it's just a selected 20?

[Wigs]

Originally Posted by Docere

A good question. Either different methodologies or it's just a selected 20?

Particularly if Dallas might be in the top 10 of the world.

[NabalBus]

Have you considered how the move to Dallas might impact the city's ranking on the (Ottawa based) Conference Board of Canada list, especially if it's potentially in the top 10 globally?

[Docere]

Not really, but I'm not the Conference Board of Canada.

[Yuri]

Those definitions probably vary from place to place, but according to Brazilian Ministry of Labour database, in Jan 2019 there were 645,000 working on finance in Brazil, of which 260k in São Paulo state and 195k in São Paulo metro area.

Rio de Janeiro metro area is at 48k, Brasília at 36k (Banco do Brasil and Caixa, state-controlled banks have their HQ there), Curitiba at 20k, Belo Horizonte and Porto Alegre at 19k each, Fortaleza and Salvador both at 10k.

[Fabricio JF]

All the cities that I can remember that have stock exchanges with global spotlight and the ability to influence markets are on this list: Nikkei, BSE, NYSE, LSE, SSE, Euronext, HKEX, NYSE Chicago, SGX, DAX, TMX...

There is certainly a direct relation between the two, when one considers that these large exchanges attract financial companies from the rest of the world to have branches nearby.

Perhaps the exception to this rule is Milan, which according to this source, has 16,000 financial companies, which would be enough to put the city on the list. Perhaps it all comes down to the criteria for defining what is considered an employee in the financial sector.

[TempleGuy1000]

If only Philadelphia could get Vanguard to stop building suburban campuses.. One beautiful skyscraper is all I ask

[hipster duck]

Originally Posted by Fabricio JF

Perhaps it all comes down to the criteria for defining what is considered an employee in the financial sector.

In North America (US and Canada), statistics agencies like the Bureau of Labor Statistics or Statistics Canada use a common National Occupational Classification, or "NOC", code to categorize workers.

The NOC code that the BLS uses is a bit more granular than the one StatCan uses, but it's from the same classification scheme (the first 4 digits will be the same for the same job family), so, in theory, American cities and Canadian cities should be comparable.

[Docere]

New York MSA:

Financial managers 68,500
Financial and investment analysts 50,010
Personal financial advisors 29,000
Financial risk specialists 11,660
Financial examiners 11,030
Securities, commodities and financial services sales agents 61,780
Brokerage clerks 7,060

Location quotient:

Financial managers 1.49
Financial and investment analysts 2.76
Personal financial advisors 1.65
Financial risk specialists 3.37
Financial examiners 2.80
Securities, commodities and financial services sales agents 2.24
Brokerage clerks 2.66

[ilcapo]

Atleast Above 40 000 in Stockholm are employed within the finance-sector.

[Docere]

Approximately 180,000 work "on Wall Street."

https://www.thestreet.com/dictionary/wall-street