Wall Street of The South
I’ve heard a lot of people say that Miami is the Wall Street of the south. I’ve even heard people go as far to say that COVID started the migration that will end in Miami becoming the largest financial hub in the US. What are everyone’s thoughts on this? Where does Miami rank as of now on the top cities to work in finance? Does it have the potential to one day surpass NYC?
It’s crazy you posted this because today is my first day ever in South Beach and was thinking the same thing. Can easily see this being a preferred destination for especially those who do not have significant ties to NYC.
Miami will not become “the largest financial hub in the US”
Agreed, dumb post
Miami is not "the south".
I really hope it does
I'd say Charlotte is the hub in the south.
Statistically, this is true.
Wb Atlanta?
Lmaooo ever been to Atlanta? It blows
I think it depends on the methodology. S&P had a ranking I saw a few years back where Charlotte was just barely ahead of San Francisco, but both were well behind NYC. They ranked it based on the total assets of banks headquartered in each city, which IMO is not the best metric to use.
I think this may shift as Miami starts to become an incubator for startups and new tech firms. The Mayor seems pretty interested in attracting new business and industry to the city. He sees the migration away from California and is willing to do what it takes to get firms there. Also, you think Austin > Dallas/Houston?
Miami is not the South. Also, there are arguably (probably) more high finance jobs in Charlotte, Houston, Dallas, Austin and Atlanta
Houston for sure
“Miami is not ‘The South’”
-Every salty ass southerner
Geographically challenged white people
They mean culturally. Ever heard the phrase "in Florida, the further south you go, the more north you go"? It means the panhandle FL is traditionally southern culture, but as you move further south in the state the culture and history reflects that of more northern states. Look at the state's history after Flagler brought railroads there. Southern FL started out as America's alternative to the South of France, marketed towards wealthy northerners who didn't want to have to cross an ocean just to vacation. Hell Coral Gables outside of Miami was the nation's first master-planned community to attract elite northerners to buy a second home or even move there. South FL is steeped deeply in northern culture. You're condescendingly taking people's comments at face value "durr dumb whites think down on map isn't south but I know geography unlike them" instead of thinking a little more critically and taking a second to look deeper. South FL isn't "southern" by the culturally understood meaning of the word, it's actually pretty northern.
.
You just answered your own question.
Not saying it's right but, again, I think you need to take some time to educate yourself a little.
Over time the state of Florida became much more accessible to the middle-class, especially after cars came in vogue. Once poor people, or some other undesirable class, can do something it automatically becomes "less cool" to the rich/desirables by nature (basic human psychology, tribalism/other-ism, etc.). See Daytona Beach, FL. It was once a nice beach destination, then the undesirables (spring breakers) became a nuisance, trashed the place and now it is a shell of what it once was. Another example is the book 'Sapiens', a book that was held in high regard among the "reader community" just 6 years ago has trickled down to "commoners" so as of late it has been getting dragged and it is now the latest book that's cool to hate. Same thing with Malcom Gladwell's books, cool years ago, uncool now.
"White flight" has not been an uncommon phenomenon post-WWII especially during the 50's-00's. Large influxes of poor immigrants/minorities to an area, namely refugees, naturally drive away upper-middle class families of all races as the perceived safety and value of the property falls. This, alongside the end of the cocaine boom marked a significant drop in the city's economic standing, hamstringing tax revenue and from there it is a cycle. Then eventually other groups started pouring in as it became a hub for immigration, especially during the cold war for those looking to escape communism.
There now seems to be resurgence in the area, especially post-COVID as an extremely business and tax-friendly state, slightly more libertarian political tendencies, warm weather, generally lower COL, a storied nightlife culture, reputation for partying and wealth, and remote work draw people there. Previously, the city wasn't a massive business-center but efforts by the municipality and Florida's political leadership to take advantage of the momentum brought on these post-COVID shifts seems to be picking up, renewing interest for higher skilled professionals.
I would add Little Rock arkansas into the mix. Financial powerhouses like Simmons Bank, Stephens and Bank of the Ozarks are all located here
I can't tell if you are serious. "Little Rock, AR the Wall Street of the South" doesn't really sound right. Charlotte, Dallas, Houston and Atlanta are in the mix.
Congratulations on your bank of the Ozarks offer
Thank you! Super excited to be part of such a prestigious bank! Bonuses were really good this year (95k+), so we’re happy
Brother in christ
More like porn hub.
Outside of holding a few extra crypto conferences a year, I don't see the same level of transformational growth that OP seems to be assuming.
No. Miami will never come even close to NYC. Plus it will be under water soon 🤣
Lol
I could see Miami becoming a major hub for LATAM finance and tech, but that is decades away. I think they should open a stock exchange for latam and other tech companies to IPO on. But it will not surpass New York. Charlotte is a more important financial hub than Miami right now.
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