Finance scene in Phoenix vs Dallas
Just wondering if anyone here could talk a little bit about the high finance scenes in Phoenix and Dallas. I'm trying to decide which city would be better to start a career in the high finance industry. There are a few other threads on here about each individual city, but most are a few years old and none of them compare the two.
Which of these cities is better for high finance overall? What are the strengths/weaknesses of each city in regards to high finance? I'm interested in hearing about everything from IB to PE, HF, AM, RE, etc. Thanks in advance!
The "Finance Industry" is so broad that its almost impossible to answer that question specifically.
Finance encompasses everything from Payday loan shops in the hood to high frequency trading shops.
That said, in all the categories you referenced, Dallas beats Phoenix. It is a big city for AM, RE, and PE. There are quite a few IB boutiques in Dallas and a couple groups from some of the larger banks.
Can't really speak to the HF scene, but I think Dallas is probably better there too.
Sorry about that. I edited the OP to specify high finance. I know that's still pretty broad, but hopefully that will at least eliminate the Payday loan shops and such from the equation.
Also, great response. Thank you.
Phoenix will start to improve in the next five years. JP Morgan, MS have strong PWM offices. I think you will see more people moving out there but in the past it’s been a hot bed for wealthy finance guys living in country clubs half the year and then when summer comes around they go back to Chicago and New York. I can’t speak much for other finance industries. Vanguard has a large office there too.
So overall are you in agreement that Dallas is better for now? From the sounds of it, Phoenix doesn't have a whole lot besides real estate and PWM right now?
Yes right now Dallas is better. Houston has JPM too.
I'm in the middle of a recruiting cycle for a large bank in Dallas and I can tell you that everyone there seems really happy in their positions and they all speak highly of the area and cost of living (which is important to me).
I've also done business in Phoenix and lived in very similar climates and have to say that it's tough to live there unless you enjoy a desert climate, it's not for everyone.
I'm actually from Arizona originally so the climate wouldn't be an issue. Would you say Phoenix has a decent variety of high finance opportunities? Anything they're particularly strong in?
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