AuthorTopic: Best city for financial professionals
@2005-06-20 02:00:55
Out of the Top 5 cities which one has the best opportunities to make $$$ ?

New York 9,956 members
Toronto 5,663 members
Boston 4,290 members
Chicago 2,972 members
Hong Kong 2,392 members
@2005-06-20 02:03:23
I forgot to add don't mention Toronto. CFA's in this town drive cabs and constantly use the expression "Would you like Fries with that?"
@2005-06-21 17:47:02
dubai. white western cultured finanace/accounting people get paid really well there. bloody hot though
@2005-06-23 20:08:38
RE: you just got it. I was going to mention that city and you are right. That city is growing at least more than Toronto and job creation is much more. bloody hot , oh yeah it is very humid too. white western cultured finanace/accounting people get paid really well there, that's right but native arabic speakers with North American education and experience get paid even more.

Here is the catch, that city is very expensive and to achieve the quality of life as in Canada for example, you have to spend lots of money. Also, most of the good pay positions are senior level 10+ years of experience.

sydneybound, where are you located?
@2005-07-05 19:33:13
Hamilton, Bermuda.

Beautiful island filled with opportunity for individuals with education and desire to gain international exposure. Second, behind the Cayman islands in terms of registered companies, and packed with trusts. Bermuda is also increadibly civilized compared to any Caribbean island. International investments are everywhere here, and so are ex-patariots (apx 25% of the population). Currency is pegged to the USD and all capital gains are tax free.

Largest downside is the high cost of living (expect NY City rent costs), but this gets offset by the maximum personal tax of 4.75% and is part of the premium you have to pay for the best beaches in the world. Other problems are trying to get a work permit and flying abroad for December CFA level 1.

@2005-08-10 08:36:14
Chinchpokli, Jhumri talaiya and Dharavi in Mumbai, India
@2005-08-16 12:08:00
you want to make money, go to calgary, canada. chase the oil.
@2005-11-05 23:45:16
Low cost of living. High salaries. Low tax. Plus you get 2 casinos in 3 yrs time.
@2005-11-10 11:37:02
how come the situation in toronto is that bad?
@2006-01-03 00:14:21

That is because it is extremely difficult for immigrants to get a decent job in Canada. They do not care what your credentials are, if you are newcomer. They care so-called "Canadian experience". It is also tough to get a job if you do not know people in the industry. Most of job openings are filled through networking.

That being said, they say once you get some experience, even in different (but related) industry/capacity, you have better chance. You could also accept a position that you are overqualified. As you prove your ability, they will give you more responsibility.

If you are not willing to do those, as dmsuperman mentioned, you end up with taking survival jobs and never get on your feet.

I would say majority of fund managers based in Toronto has CFA designation and/or MBA. Of course, they are either Canada native or came long way.
@2006-01-03 20:24:14
Dubai expensive? please mate, its not .. many westerners come here for a better standard of living, pay might not be as high, this is because its cheaper and there are no taxes as of yet.

The reason its becoming one of the best for financial proffesionals is because of the new government initiatives that took place, building an international financial center which attracts banks and other financial institutions worldwide.
@2006-01-08 19:15:54
@2006-01-09 18:38:06
@2006-01-11 20:45:14
Mumbai....the commercial capital of the second fastest growing economy in the world. downside being is extreme competition as local skill set is very high and there are enough post graduates to meet that demand. Average working hrs is about 12-13 hours a day. Get paid enough to maintain a decent standard of living and its improving with the economic growth.

But if someone enjoys stiff competition and wants a challenge, no better place to work. Job satisfaction is very high. One grows with a growing economy.

I work for the biggest multinational bank in the middle east region in DUBAI. Maybe paid heavily but this place is very expensive.One does not save much.

Inspite of the recent develpoments, this place in terms if finance sector is still at the infancy stage in comparison to Mumbai. Lacks professionalism. One lives a semi-retired life here. Will take atleast 10 years to reach where Mumbai is, forget New york and London.
@2006-01-31 13:23:48
harengajaria, why do you say forget New York and London? I thought there're lots of opportunities there and people are paid a lot..

Anyway, whatever you guys do, don't come to Paris. A financial analyst is paid like an American primary school teacher b ut works 60 hours a week. Plus, not many people know what CFA means here.
@2006-02-01 19:24:13
CALGARY, Alberta, Canada !!!

Sooo many Positions opening up in the Oil/Gas Sector... only approx 900 CFA Holders in the City

There was an article for 2005 in the NewYork Times and the Globe and Mail for Analyst compensation in Calgary. Article Contrasts Analyst Compensation in Calgary to the start of the Tech Boom...
@2006-05-13 13:55:01
@2006-05-26 04:49:54
I think cities in Asia such as Bombay (or "Mumbai" as locals call it)singapore and Hong Kong are going to be the future for finance and banking.These cities already have a history of active equity cult and there are a lot of pro's in countries like India etc who would rather work closer to Home.

CFA Discussion Topic: Best city for financial professionals

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