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Old 07-29-2023, 01:08 PM
 
2,330 posts, read 1,031,194 times
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Writing to you all from NYC. 13 years of experience in the sell side. What is the outlook for bank and other financial sector jobs in Chicago?

Citadel is leaving and citing high crime /taxes. The pit is no longer run live but by machines. Many financial companies vc are relocating to Texas, Florida ,or North Carolina.

Does Chicago have a financial sector future?
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Old 07-29-2023, 07:04 PM
 
Location: Bellevue
3,048 posts, read 3,317,957 times
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Quote:
Originally Posted by Tiredofnyclife View Post
Writing to you all from NYC. 13 years of experience in the sell side. What is the outlook for bank and other financial sector jobs in Chicago?

Citadel is leaving and citing high crime /taxes. The pit is no longer run live but by machines. Many financial companies vc are relocating to Texas, Florida ,or North Carolina.

Does Chicago have a financial sector future?
Good question.

Historically Chicago home to CME, Commodities Mercantile Exchange. Trades from grain, livestock, agriculture. Then home to CBOE Chicago Options Exchange. Good question if this can now be automated like New York. Not sure how active Chicago Midwest stock exchange is.

Northern Trust seems to be the remaining independent bank, May find branches of other money center banks. Should have all the major players like BoA, US Bank, etc.

You may find new Chicago mayor not any better than New York. Similar problem with high crime, taxes, poor education.

Not sure if your New York firm would have branch in Chicago. Possible to find work, live in suburb, commute to work via Metra commuter rail system.
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Old 08-03-2023, 09:56 AM
 
Location: Putnam County, NY
600 posts, read 2,092,013 times
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Quote:
Originally Posted by GWoodle View Post
Good question.

Historically Chicago home to CME, Commodities Mercantile Exchange. Trades from grain, livestock, agriculture. Then home to CBOE Chicago Options Exchange. Good question if this can now be automated like New York. Not sure how active Chicago Midwest stock exchange is.

Northern Trust seems to be the remaining independent bank, May find branches of other money center banks. Should have all the major players like BoA, US Bank, etc.

You may find new Chicago mayor not any better than New York. Similar problem with high crime, taxes, poor education.

Not sure if your New York firm would have branch in Chicago. Possible to find work, live in suburb, commute to work via Metra commuter rail system.
Eric Adams is decidedly to the right of the new Chicago mayor…
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Old 08-03-2023, 10:29 PM
 
Location: Brackenwood
9,981 posts, read 5,681,961 times
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Money is more mobile than ever, but there's still something to be said for having an integrated finance/legal/insurance/manufacturing/logistics nerve center in one of the most logistically important locations on the continent.

Unfortunately, our political class takes advantage of this strategic importance to abuse its constituency, much the same way California's ruling class does the same to people who are reluctant to pack up and leave such a geographical paradise.
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Old 08-04-2023, 10:38 AM
 
4,152 posts, read 7,944,003 times
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There are fintech jobs that are not visible because many have not heard of the companies and they work remote. My son works for one no longer in Chicago. They do all their work via electronic methods.
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Old 08-10-2023, 11:15 AM
 
3,674 posts, read 8,663,931 times
Reputation: 3086
Quote:
Originally Posted by Tiredofnyclife View Post
Writing to you all from NYC. 13 years of experience in the sell side. What is the outlook for bank and other financial sector jobs in Chicago?

Citadel is leaving and citing high crime /taxes. The pit is no longer run live but by machines. Many financial companies vc are relocating to Texas, Florida ,or North Carolina.

Does Chicago have a financial sector future?
Chicago is an enormous powerhouse for the financial industry, futures, options, etc. Their financial sector is futures. But also an enormous amount of financial software development, because those algorithms that are now what we call "financial markets" are the real industry.

What I will tell you (as someone in an adjacent industry): the financial sector in Chicago is like Hollywood in the 70's.

To get a job, you only need one thing: a parent in the industry.

If you're coming from Manhattan (god I still think that way, that's how old I am), I wouldn't just apply for a job.

I would ask your connections to make a connection for you. Jobs in finance are advertised, certainly, but the way it works as far as I can tell is that positions are "made" or "found" for people.
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