Wall Street moving to Miami would be great

Kinda on board with this...

Yeah but the overpriced rent, ugly chicks, elitist old money, fuckwad mayor, and high taxes would move there eventually. You get to keep the other stuff though.

The day it happens is the day I quit finance. It's something nice to joke/fantasize about, just like owning multiple private jets.

Good thing is the day probably will never come.

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I went to U Miami for undergrad. The perfect word to describe Miami is transient. The type of person you would be socializing with in Miami is different than most people you've ever met. It's almost uncomfortable, like a lights on no one is home (non-self aware) type-demeanor. It's a really weird, surface level place and I would not want to raise a family there.

I've lived the majority of my life in Miami, am Hispanic, lived here from 10 to 22. Typically disagree with yankees because they think they know it all since they came down for a weekend for their 'buddy's birthday', but the reality is the following:

1. Most shallow women on earth, don't even try to establish a relationship; 80% of the downtown women have more bodies on them than a moratorium.

2. Most of you guys don't speak Spanish so that will be a big struggle to get around, if you try to get around; I'm assuming most of you guys will just hang around Brickell and the general business-y areas, wherein English will do you just fine. 

P.S. ignore ANY comment from anyone who went to UM trying to tell you about the city, they'll give you the most sheltered view on the planet; in other words, Miami is NOT Coconut Grove, Brickell and Miami Beach, it is much more than that. The rich kid New Jersey view is negatively warped and will make the city look much better than it truly is, I mean this seriously, Marissa who spent her 4 years at UM moving from SoulCycle to Komodo to Starbucks and back to SoulCycle has no idea what they are talking about when they say Miami is quirky and awesome(!)

3. Traffic is infernal; highly suggest you live close to where you work if you wanna not have a car. But be warned you WILL have to get a car. It is practically IMPOSSIBLE to be in Miami and NOT have a car.

4. That being said, car game is crazy. A Maserati gets no looks (in before some guy tells me that Maserati's are shit cars; yes, they are, but they are still expensive)

5. Socially speaking, as long as you make over $100k you're a 8+ to the girls, it is the most superficial city in the South but what will you do?

Let me know if you need any more info, I'll happily divulge, hopefully someone can vouch for me.

Agreed with OP except the "uneducated jacked hispanic douchebag" part. Sounds personal lol. 

Gringo pendejo tiene miedo del hombre latino

Ha nice op, but weren't some banks talking about south Florida metro area in general? If so you'd need to evaluate area from palm beach to Miami. 

you do realize that if magically, Wall Street / finance moved to Miami in droves that Miami would effectively transform in to NYC in terms of money, high rents, etc. Crime in Miami isn't better than NY. Also, its not like FL has nice weather, warm sure, but its certainly not good weather. 

Lived in Miami my whole life. 22 and heading to an EB for FT. Imo Miami is a shithole and I would not want to live here. I have done everything you can do here and will tell you that everyone is on point about the people here, it is very superficial, very ignorant (due to huge hispanic population, fyi I'm hispanic) and not the place you would want to live in long term. Anyone with half a brain cell that grew up here wants to move out somewhere else lol. Weather here sucks. It's hot and humid YEAR-ROUND. Not dry heat, that heat that will feel like it's sticking to your skin and leave you with swamp ass every time you leave your house lol. I would be all for a move to Texas if shit really hit the fan for NY but would not see myself moving back here to Miami.

Actually living in a city vs. going to a city for a one-weekend vacation with your homies in Sigma Apple Pie over spring break makes a huuuuge difference.

Walk along South Beach or go stumble into an nightclub on Ocean Drive. Ask everyone where they're from. They're all tourists, and that's not a coincidence lmao

Do you know any bankers at your firms that are based in Florida or considering?

I'd tend to think that if banks have some minimum critical mass of people in Florida (say 10 bankers? 20?) it makes sense for them to rent some office space in Brickell and have people travel to NYC as needed. Otherwise, if it's just 2-3 senior bankers on their way out living in Florida for tax reasons I don't think it will work.

Doesn't Miami have a higher violent crime rate than NYC? Not sure but definitely thought so.

Has anyone that is advocating for this ever spent time there? It's fucking terrible. I can attest the comments from people who grew up there are accurate.

I would hate to have to hang around so many uneducated and superficial people. I'm trying to find a wife, and I doubt I'll find many Ivy League-hailing girls down there.

I'm sold on all of the above except the girls.
As someone famous once said on twitter, "genetic branch dead, grandfather cry"

Everyone here is talking about Miami - in reality, the moves are being made to south Florida as a whole, which includes a more then Miami city limits. Fort Lauderdale, the Palm Beaches, etc. I lived in Fort Lauderdale and can tell you it's a whole different ball game than Miami beach.

There are plenty of nice suburbs a little inland within driving distance of city centers. There are great private schools that are straight feeders into Ivies. Startup culture is taking root in areas like Wynwood and spreading rapidly (calling it now, Little Haiti will gentrified af this decade), I wouldn't be surprised to see more tech moving here given the stream we're seeing coming of Cali and Florida's low tax environment.

Really hoping we'll see more and more finance head down there. I don't think IB is headed there anytime soon, but we're seeing buyside firms and some bank divisions heading there, and why not? NY, same as Cali, has blue leaders who don't give a damn about providing a good environment for business and mid/upper class people.

Love how all the people who commented to praise this have the most fratty misogynistic usernames

It's all fun and games until one direct hit from a Cat 4/Cat 5 Hurricane. People have short memories. Ask anyone who lived in South Miami in August 1992 what Hurricane Andrew was like. 

Except you'd end up with overpriced rent and old money douchebags in about 3 years as the market adjusts.  The weather is better.  The women certainly aren't hotter.  So really all you're doing is moving Wall Street from the cultural capital of the country in order to get a nicer winter and a more hellish summer.  Not sure how much time you've spent in Miami in August, but if you think New York is hot and humid you've got another thing coming.

If Wall Street is truly going to beef up its FL presence, I think Tampa is a better option. Sure it's a lot smaller but its growing rapidly (Water Street project). Rent is way cheaper than Miami too. Weather is better in the sense that it cools down to a degree in the winter. Better area for 20 and 30 year olds as compared to Jacksonville, West Palm and Orlando. Also don't have to speak Spanish which is nice. 

Feels more like what's gonna happen is similar to when a bunch of buyside firms moved to Greenwich/Fairfield(also for taxes at the time). The fact is that, we can say whatever we want about prestige or pay or whatever, but the finance industry revolves around the bulge bracket banks and the exchanges. Every trade - whether it's a pork belly future or the takeover offer for a F100 company goes through the banks. JPM is currently rebuilding in NYC, GS just finished their building a few years back, Barclays owns the old Lehman building (actually was a line item in the bankruptcy), I THINK MS owns their building, npt to mention all the servers and, more importantly, the internet cabling for the various exchanges, etc, etc.

Basically, we're gonna see some "large" asset managers (as in AUM, employees rarely above 1000) decamp to suburban offices outside Miami or even in Miami, but the finance industry will stay. There's too much infrastructure here to pack it all up and move. It also feels like they are trying to use the Robert Kraft strategy of threatening to move and then exacting concessions (and then getting handjobs in FL).

¡I've recently moved to Miami for a job!

I just don't see the appeal. Miami seems nice to visit but I could never live there long-term.

Lol wouldn't that be funny.

Austin is already the new Sillicon Valley.

Miami is going to be the new NYC? 

I love cocaine and simping.

The main upside would be I could get on here and see the threads about you all losing interns to giant boa constrictors and alligators. This would add a new dynamic to the experience.