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Old 01-04-2022, 03:32 PM
 
2,330 posts, read 1,032,880 times
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Which cities would have the most employment opportunities for the finance and banking field? I am coming from NYC as a mid-career level person in Wall Street looking to lateral over into a cheaper state. I believe the two cities that come to mind are Austin or Dallas. Others please correct me if I am wrong. Does the boom and bust cycle typically associated with the energy sector also apply to the finance sector? I understand that many brokers have begun the process of shifting operations from California and NY to Texas due to an increase in taxes/burdensome regulation in these 2 states. Thanks.
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Old 01-04-2022, 03:38 PM
 
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Houston and Dallas and you will not lateral over.
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Old 01-04-2022, 06:02 PM
 
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Dallas metro mostly, but Houston has slightly more international finance companies. Austin has a few but nowhere near as much as Houston or Dallas. I used to be an auditor for the SEC and did in person audits in the old days.

Edit to add: O&G private placement firms would be boom or bust, but rest is tied to bank and/or investment industry mostly.

They've also shifted to Florida and some to SLC. CA and NY still have new Fintech startups but now many of them are remote.
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Old 01-04-2022, 08:37 PM
 
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Quote:
Originally Posted by TX Rover View Post
Houston and Dallas and you will not lateral over.
Why do you say that? Is it regionalism? Or a smaller market?
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Old 01-05-2022, 08:07 AM
 
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Dallas or Houston are your best bets.


Houston's economy has become more diverse and is not all oil related today.


Please do not bring NY voting habits if you come....we do not need Cuomo/DeBlasio types in office here in Texas.
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Old 01-05-2022, 09:17 AM
 
1,085 posts, read 693,759 times
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Originally Posted by Tiredofnyclife View Post
Why do you say that? Is it regionalism? Or a smaller market?
Combination of both. You’ll be running up against McCombs grads and networks, and the industry is a lot smaller.

Do not count on NY comp. You’ll likely be taking a step back, but picking up title/role. It really all depends on what sector you’re in and what you’re looking for.

Do not, under any circumstances, expect either city to be remotely similar to NYC.
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Old 01-05-2022, 10:00 AM
 
Location: Round Rock, Texas
12,950 posts, read 13,352,455 times
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My son is a senior VP (30+ years) with this regional agricultural banking system based in Austin. They have been doing pretty well, even during the recessions. It isn’t New York money though.

https://www.farmcreditbank.com/
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Old 01-05-2022, 03:31 PM
 
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Quote:
Originally Posted by Raider Scott View Post
Dallas or Houston are your best bets.


Houston's economy has become more diverse and is not all oil related today.


Please do not bring NY voting habits if you come....we do not need Cuomo/DeBlasio types in office here in Texas.
I am actually a conservative. NY is only liberal in NYC - and even then only w/in 4/5 of the boroughs. The rest of the state is overwhelmingly conservative. The problem is that their voices are drowned out by the sheer mass of those within NYC.
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Old 01-05-2022, 03:35 PM
 
2,330 posts, read 1,032,880 times
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Quote:
Originally Posted by Pilsn3r View Post
Dallas metro mostly, but Houston has slightly more international finance companies. Austin has a few but nowhere near as much as Houston or Dallas. I used to be an auditor for the SEC and did in person audits in the old days.

Edit to add: O&G private placement firms would be boom or bust, but rest is tied to bank and/or investment industry mostly.

They've also shifted to Florida and some to SLC. CA and NY still have new Fintech startups but now many of them are remote.
I've actually worked for a Texas company in the past, HD Vest. They were very nice and I enjoyed my coworkers.

These days I am in regulatory reform, risk, and compliance. As a former SEC employee you know what that means - middle and back office work. What kind of comp do mid tiers get in Texas?
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Old 01-06-2022, 09:53 AM
 
1,952 posts, read 830,095 times
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Quote:
Originally Posted by Tiredofnyclife View Post
I am actually a conservative. NY is only liberal in NYC - and even then only w/in 4/5 of the boroughs. The rest of the state is overwhelmingly conservative. The problem is that their voices are drowned out by the sheer mass of those within NYC.

CA has the same problem.


I fear this "problem" might come to Texas in the future.
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