Why the Smartest People in the Midwest All Move To Chicago (Atlanta: student loan, find a job)

[marothisu]

Originally Posted by wlw2009

Who does Chicago have to compete with?

Minneapolis right now is the only thing and really, it's not even close even though Minneapolis has some good stuff going on.

[Maintainschaos]

Originally Posted by wlw2009

Who does Chicago have to compete with?

Kansas City?
St.Louis?
Detroit?
Des Moines?

Let's get real here.

Actually, as far as intellectual draw, Chicago's only large competition is Minneapolis. But then these are two very differently sized cities. Minneapolis has a lot of things going for it, but if it were the size of Chicago, I imagine the situation would be very different.

[linicx]

At one time or other I lived in Mpls and in Chi; the two are very different. I've been in many of the so called 'big' cities in America, including LA, and I still prefer Chicago. In my opinion it is easier and more convenient to shop and do things in Chicago than it is in other large cities. One of the things I really appreciate is Chicagoans, by and large know their 'hoods, and can tell strangers "how to get there" by street, train, or bus.

Chicago is the only place place I ever lived where neighborhood is a foreign language.
"Is X still in Garfield Park?"
"No. It's Back of the Yards." .

[Mon Capitane]

Chicago is the next Detroit

You haven't been to Detroit, have you?

[Larry Siegel]

Originally Posted by marothisu

Here's the office locations of some investment banks: [actual list snipped]

That's an impressive list but you have to go pretty far down on it (William Blair I think) to find a headquarters.

Have you ever worked in an investment bank outside the headquarters? The branch offices are mostly sales offices. The decisions get made, and the big paychecks get paid, at the headquarters.

I love Chicago but I don't want to say it's something that it's not.

[marothisu]

Originally Posted by Larry Siegel

That's an impressive list but you have to go pretty far down on it (William Blair I think) to find a headquarters.

Have you ever worked in an investment bank outside the headquarters? The branch offices are mostly sales offices. The decisions get made, and the big paychecks get paid, at the headquarters.

I love Chicago but I don't want to say it's something that it's not.

The ones here are really not sales offices, trust me. I have friends working in these places (and other financial industries) and they're far from glorified sales people. Also Nuveen Investments is HQ'd here..my friend is friends with the CEO who lives in the burbs. There are other places HQ'd here too that I am not listing. This was just for one category. You could list other companies such as Morningstar as well. I have friends at Deustsche Bank too and again, none are sales. They're all financial analysts and stuff like that.

Financial Companies/Banks HQ'd in Chicago area:
* Discover Financial (Riverwoods)
* Northern Trust
* Morningstar
* Nuveen Investments
* William Blair
* Citadel LLC
* GTCR
* Madison Dearborn Partners
* HSBC Finance (Mettawa)
* CNA Financial
* AllState Insurance (Northbrook)
* BMO Harris Bank
* TransUnion
* BrainTree
* Experian (US HQ I believe...in Schaumburg)
* Ariel Investments
* William Stein
* Lake Capital
* Guaranteed Rate
* Guggenheim Partners
* Incapital
..etc


http://www.investopedia.com/financia...t-bankers.aspx

Chicago is sometimes considered America's third financial center. In the finance world, Chicago is best known for the Chicago Board of Trade and the Chicago Mercantile Exchange. These exchanges specialize primarily in commodities and derivative contract trading. However, Chicago is also the third-largest city in America, and many investment banking employers have offices there. A quick survey of some of the major investment banks indicated that Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), Lazard (NYSE:LAZ), Deutsche Bank AG (NYSE:DB) and Greenhill and Co. (NYSE:GHL) all have offices in Chicago.

Chicago is less expensive than other major financial centers and was ranked the 50th-most expensive city in the world. The taxes are a bargain compared to New York or California as well. Illinois imposes a state income tax rate which is set at a flat 3% of net income.

[jman07]

I can't believe "broadrippleguy" hasn't chimed in yet. His Mom must have disconnected his internet connection. You regulars know who he is. LOL

[Vlajos]

Originally Posted by jman07

I can't believe "broadrippleguy" hasn't chimed in yet. His Mom must have disconnected his internet connection. You regulars know who he is. LOL

Unfortunately, he has been banned.

[Irishtom29]

High wages here attract some of the best blue collar people; building tradesmen, machinists, tool makers, mechanics. Talent chases money in the blue collar world too.

[Tex?Il?]

Originally Posted by Irishtom29

High wages here attract some of the best blue collar people; building tradesmen, machinists, tool makers, mechanics. Talent chases money in the blue collar world too.

True,

Interestingly enough, its these highly skilled manufacturing jobs which require a lot of training, despite the decline in manufacturing jobs in the long term, are the jobs that companies are having a hard time finding qualified people for. And they pay well too.

But that wasn't what my generation was encouraged to go into, as not following a four year university path was/is considered an embarassment - so now theres a shortage, because people have been looking down upon trade schools.