Quote:
Originally Posted by Docere
For interest, here's employment in financial services (ca. 2018 from a presentation to the Conference Board). Toronto is #2 in North America and #7 in the world.
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
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Interesting. If you have a link, I'd be curious to see the methodology, which I think may be somewhat misleading here.
As an example, being familiar with the Montreal market, this looks to me like they're simply adding up headcount from financial industry employers (banks, fund managers mostly). So a Desjardins would contribute something like 20-30k to this total, even though a vast majority of those would be support employees (IT mainly).
Whereas markets like NYC have very little backoffice on-site, and tend to offshore/nearshore a lot more. So a much higher proportion of NYC's 450k are core finance roles, compared to Montreal's for instance.
That's cool if you want to measure "headcount in companies operating mainly in finance and banking", not so great if you're looking for "number of financial services professionals". There are a lot more than twice as many of those in HK than in Mtl, for starters.