U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Massachusetts > Boston
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 09-19-2017, 11:58 AM
 
448 posts, read 461,011 times
Reputation: 384

Advertisements

Quote:
Originally Posted by bjimmy24 View Post
No, Boston is not a financial hub in any real sense of the term. If we are talking about issuing a 2nd or 3rd place prize, then I guess you can mention Boston (maybe) but the gap between 1 and 2 is so vast that there really is no distinction in being 2.
Are you talking about tiers or actual 1st 2nd 3rd place? Because if you're talking about 1st 2nd 3rd etc, obviously New York is #1 but being 2 or 3 would make it "a" hub, though not "the" hub.
Reply With Quote Quick reply to this message

 
Old 09-19-2017, 12:01 PM
 
282 posts, read 150,205 times
Reputation: 384
Quote:
Originally Posted by bjimmy24 View Post
No, Boston is not a financial hub in any real sense of the term.
Huh?? What do you mean by 'any real sense of the term'? Boston is absolutely a top Financial Services Center/Hub by any relevant metric, index, or ranking.
For what it is worth, I would rank the US hubs as NYC, Chicago, SF and Boston (debatable who is ahead), and Charlotte


Quote:
Originally Posted by Sweetbottoms View Post
The market is just flooded with finance oriented people. I seem to think Boston has better financial hub potential with the opportunity for more growth/money career wise. Any opinions from people in the sector?
You would encounter a similar situation here. There was a huge cull in 2008 and 2009 followed by explosive growth .... in turn followed by a flood of financial services graduates.

Lots of jobs here ... but lots of competition from a lot of top applicants.

As others have said, the cost of living is far higher here than Charlotte so a pay raise would need to take this into account so that you are not significantly worse off overall. Also, if your husband is making a switch to FS after 10 years in another career so he will be at a distinct disadvantage in the applicant pool out the gate.....might not seem fair but that is the nature of the industry.

Charlotte is a top, and climbing, financial services hub especially when it comes to banking so unless there are other pressing reasons to move here I would suggest staying put and see how far he can go there first.
Reply With Quote Quick reply to this message
 
Old 09-19-2017, 12:10 PM
 
Location: Boston, MA
7,870 posts, read 6,819,268 times
Reputation: 6594
Quote:
Originally Posted by yaeger07 View Post
Are you talking about tiers or actual 1st 2nd 3rd place? Because if you're talking about 1st 2nd 3rd etc, obviously New York is #1 but being 2 or 3 would make it "a" hub, though not "the" hub.
When one place dominates so much, it's just boosterism to talk about being a "hub" in a meaningful sense. It is misleading as to Boston's true function in the country.
Reply With Quote Quick reply to this message
 
Old 09-19-2017, 12:32 PM
 
1,323 posts, read 677,787 times
Reputation: 1079
Quote:
Originally Posted by bjimmy24 View Post
When one place dominates so much, it's just boosterism to talk about being a "hub" in a meaningful sense. It is misleading as to Boston's true function in the country.
New York is the alpha financial hub. But saying anything else doesn't matter seems unfair. Who has more finance jobs Boston or any number of cities? If New York is the tier one by itself I'll still settle for tier 2 with a handful of other cities as our piers.
Reply With Quote Quick reply to this message
 
Old 09-19-2017, 02:16 PM
 
11,345 posts, read 5,858,212 times
Reputation: 21045
After New York which dwarfs everybody, the next four ranked by number of jobs are San Francisco, Boston, LA, and Chicago. All of them are losing finance jobs to low cost places. Richmond VA, Pittsburgh, DFW, San Antonio, JAX, St Louis...

If you can afford the housing, Boston certainly has plenty of job opportunities. Charlotte has two big employers. If you don't work for either of those, you're pumping gas.
Reply With Quote Quick reply to this message
 
Old 09-19-2017, 04:20 PM
 
Location: North of Boston
2,944 posts, read 4,927,263 times
Reputation: 2548
You've been in North Carolina for 5 weeks. Maybe give it 5 months before you start planning another move!
Reply With Quote Quick reply to this message
 
Old 09-20-2017, 02:44 PM
 
Location: North Carolina
3,437 posts, read 5,765,164 times
Reputation: 5234
Quote:
Originally Posted by gf2020 View Post
You've been in North Carolina for 5 weeks. Maybe give it 5 months before you start planning another move!
Not planning another move at all. Just having discussions. We plan on buying a house here but in the long term aspect we would like to keep options open.
Reply With Quote Quick reply to this message
 
Old 09-20-2017, 06:42 PM
 
448 posts, read 461,011 times
Reputation: 384
In the long term you won't be able to afford to move. You'll get used to the lifestyle you have there, the house with the yard, etc.
Reply With Quote Quick reply to this message
 
Old 09-21-2017, 06:28 AM
 
486 posts, read 361,236 times
Reputation: 801
Quote:
Originally Posted by Sweetbottoms View Post
Hubs is in the financial sector (working on becoming a financial analyst within the next few months) and we recently moved to Charlotte, NC due to him being hired by a major financial firm. Bank of America and Wells Fargo have headquarters here as well as Vanguard (not a headquarter) and several other firms.

It seems as if every other finance major had the same idea as us. The market is just flooded with finance oriented people. I seem to think Boston has better financial hub potential with the opportunity for more growth/money career wise. Any opinions from people in the sector? We are here until July and then he'll have the experience to either stay (mayyybe move up where he is career wise) or look for other opportunities and move on.

Something to keep in mind - all those sub-$300k Fourth Ward skyscraper condos will be well over a million out here while salary will most likely be at most 10% higher.
Reply With Quote Quick reply to this message
 
Old 09-21-2017, 02:05 PM
 
5,024 posts, read 4,835,146 times
Reputation: 11681
Realistically, you won’t move to Boston. It’s just too expensive to make it worth it. If you want to live semi close to work, you’ll be paying $500k for a 1 bed condo in not great condition, probably more if it comes with parking. If you want to pay less, you have to move further out and then the commute becomes a hassle. Unless “hubs” gets some offer from a Boston company that he wasn’t expecting, it won’t be worth the transition.

In terms of it being a financial hub, I say hub schmub…bottom line is that we have a pumpin’ economy with plenty of jobs for financial analysts. Not only in finance but other sectors who use financial analysts (of which there are plenty).

And I don’t mean to discourage but when one thinks about moving to a place to advance their career in finance, I would just say that most would be better off in places other than NYC and Boston. Most people who do well in those places have a degree from a top tier university. He may find an ok job here with growth and advancement opportunities but it likely won’t be worth the extra 10-20k he may get because the COL is so high. 60k goes a lot further in Charlotte than 75k does in Boston. If hubby has a top tier degree or a lot of experience I’d guess you’re better off in someplace less expensive. Best of luck.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Massachusetts > Boston
View detailed profiles of:
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top