More Financial Jobs Moving Out of Big Apple

Finance Jobs Leave NYC Image

People interested in adding a finance degree to their resume with thoughts of working on Wall Street may need to rethink job location in the future.According to analysts, more financial giants are moving away from New York City and expanding into cheaper locations across the U.S., The New York Times reports.

Places like New York or London will remain financial centers, but most of the players are taking a much harder look and asking whether they can move large numbers of jobs, James Malick, a partner at the Boston Consulting Group who advises banks on relocation, told the news outlet. “Some functions need to stay in the United States, but they don’t need to be in New York City or near the client.”Data from a number of financial firms finds some of the most popular locations for near-shoring include Florida, North Carolina and Utah.Many people who are thinking about a career in finance take an assessment test to determine if they have the necessary skills to work in the field.The Bureau of Labor Statistics reports that job opportunities for financial analysts are expected to increase faster than other occupations, by 23%, through the end of the decade. 

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