Who’s moving to Miami?
Anyone considering this move? Seems like a better place to live than NY these days. Good change of scenery....
Has anyone moved to Florida recently and have any advice?
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I grew up in florida. From Tampa originally but spent time in Miami and Fort Lauderdale. Wouldn’t mind moving back eventually. I just hope that higher comp follows. Florida comp used to suck and was referred to as “the sunshine tax.”
Some of y’all are in for rude awakening when you go down there. Went to grad school at University of Miami and started my real estate career in Miami before a short stint in Tampa but now back in Georgia. Would only go and visit now. Comp is significantly lower compared to other larger metro. Tampa/St. Pete has more upside than Miami in my opinion.
Echoing these comments. Prefer the Tampa Bay area a lot more than Miami despite it being smaller.
Yep if you want to ride the next wave go to central Florida.
I think it's funny how overblown this "move to Miami" jargon is in the media. You hear about business leaders moving there during Covid, but those people have already made their money. It's easy to work and live anywhere you want once you're wealthy and established.
For anyone up and coming, staying in a large knowledge based metro is a far better option (Boston, NYC, SF, etc.) early on in your career. That is where the money, jobs, and career growth opportunities are.
they are now but it is quickly changing. if SF is still as dominant of a tech hub in 10 years as it is now I will be shocked.
Miami is not it. The schools and infrastructure suck, crime is way high and there are only a few nice pockets within the actual city. Yeah, for 60 year old Partners who answer emails from their wrap around balcony all day and get to the golf course or boat by 6:00PM every day, it’s a good lifestyle. For people who want the wall street experience it’s just not comparable. Great place to vacation and party though.
This huge Miami shift this site is pumping will never materialize
but it is materializing... https://www.wsj.com/articles/low-taxes-and-high-temperatures-lure-finan…;
That article told me that 1) BX is building a tech office, 2) SCG is relocating HQ, and 3) GS may house some AM members there ... if that leads you to believe Miami will become the new pinnacle of finance, then by all means move there.
Edit: Starwood relocated their HQ from CT to FL in 2018 so the article's mention of them is irrelevant
Popularity of cities like NYC/SF will rebound a lot faster than people think esp. for young talent
Still never been and may never be to Miami
Miami is better than NY as of now. Don’t understand all the comments above. It’s an amaZing city. NYC is Sooooo depressing in the winter. It gets dark at 6 in Florida during winter. I’d def move. Entire VC scene will be there in a few years and finance companies already relocating
“NYC has depressing winters so that’s why the whole finance scene should move to Miami” - your logic
I agree with you on the weather but people consider more than just that when they decide where to live or locate their office / business.
Otherwise Philly, DC, Boston, NYC, Chicago wouldn’t have so many people living there
Actually I think it proves the point better.
Can't crush excel models all day when its nice out. How can you hire monkey analyst in those other markets when are going to want to ditch work early.
Im born and raised in Miami. Yea the traffic sucks sick, yea it can get hot as balls, yea a lot of the girls here are shallow. But fuck i love Miami. And I wasn’t born and raised in the rich parts of Miami, I was born and raised in the suburban areas. Miami when you have a nice salary is a great place to live. Bro the weather is beautiful here year round and that to me is huge. People are shallow here no doubt but you just gotta be mindful of who you chose to be close with/ have a relationship with. I want to come back to Miami after my analyst stint in NY. If you’re thinking about coming down, do it. You won’t regret it.
Lucky duck! Forgot to mention taxes or lack thereof 😌
give me 5 reasons why Manhattan/NYC>Miami if you had the opportunity to move there with your recent graduate friends or with relocated colleagues?
The weather, girls and overall vibe alone is the reason why I believe everyone should be there. Beach, boats etc.
People keep saying job opps, but I think they’re missing the point that once you reach x level the world is kind of your oyster. Not really a surprise that they’re only thinking in terms of where you can get an analyst gig.
Lifelong new yorker here that has been making fun of Florida my whole life. I was a cynic like most, but I just spent a month there and am honestly shocked at how much I liked it. Now I'm working on terminating my lease so I can move down there, at least for the year. I did a quick tax/rent analysis and was blown away and that doesn't even factor in the quality of life you get with the weather/boating/golfing etc and the fact that shit is literally normal down there right now. For those complaining about the people, half the folks I met were from NY and I have a bunch of friends that already made the move. We'll see how many of them stick, but at least for this year I see no reason not to live there if you have the flexibility.
Can’t agree with this anymore. Wish I had the flexibility though or I’d be there by now. Definitely a good change of pace down there for a year.
In same exact boat
My 2 cents...
NY/SF will continue to be strongholds for a long time...but not forever. The issue for firms moving is finding a big enough talent pool to hire from. Once there is a large enough talent pool then you will start to see a shift. I am not saying NY/SF will die, but remember that eventually businesses will find ways to cut expenses and move to different markets if need be. NYC will still be the center of finance 20 years from now, but it wont be as dominant as it was.
I congratulate you, I am very glad that you did it after all
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