Chicago vs San Fransisco

Was lucky enough to get two summer analyst positions at comparable boutique banks - one of which is in San Francisco and the other in Chicago.

What are thoughts on the two cities? If I wanted to on-cycle to a firm based in the west coast (possibly LA) does being in SF help? Should the fact that SF has more finance firms (H&F, Farallon, Fransisco) affect my decision?

6 Comments
 
Funniest

How does one get an offer at a boutique in SF without knowing how to spell San Francisco?

 

Tons of young professionals, tons of great bars/restaurants, great social/sports scene, boating on underrated Lake Michigan in summer, bad weather only 5 months a year (as opposed to the perceived 12) much more reasonable real estate prices, and violence that is (while definitely a thing to be aware of) perhaps not as big of an issue as advertised (but, yes, still a thing). 

 
Most Helpful

Chicago, but only by a hair. Reasons why:

  • Much more diversified financial economy. SF is strong but tech heavy. Chicago has Industrials, Consumer, Healthcare, Business Services and TMT practices
  • Dollar goes forever in Chicago. Recently had a Director friend of mine move from Chicago to SF and he joked "now I remember what it feels like to be poor"
  • Chicago, culturally, tends to be a nicer city. You can go on a date and not know someone's job by the end of it. SF is much more a city where people ask you "So what do you do?" within 30 seconds of meeting you
  • SF does have much better outdoors. If you like hiking and biking, there's definitely more to do.
  • Controversial take: the cities around Chicago are better than the ones around SF. Yes, SF is within a long drive of Seattle, Vancouver, LA, Vegas and San Diego - all awesome spots. But you could do the same day trip from Chicago and be in NYC, DC, Atlanta, Nashville, Toronto, Montreal, etc. 
 

there are more variables to take into consideration when assessing whether one location will be more conducive towards you on-cycling to an LA / west coast based fund (eg reputation of your product/cov group, have they historically sent analysts to firms that you're eyeing, do you have any ties to LA/west coast that would make your story strong despite you being in Chicago, etc)

 

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