There are finance jobs to be found in nearly every city in the world, but some cities offer more possibilities than others. This article pinpoints the top 10 cities for finance jobs and examines their language requirements, typical weather, cost of living and other important features. All of these cities are expensive places to live, but they also offer plentiful and high-paying jobs for finance workers.

Let's take a look at the top 10 (in no particular order):

1. Boston, Massachusetts, USA

Mercer's* Cost of Living Ranking = 125
Language = English
Average Low Temperature in January = 22
Average High Temperature in July = 82

*Note: Mercer is an international human resources company that offers financial advice, products and services. The highest cost-of-living city is listed as No.1, and the comparison cities are rated in descending order. Numbers are as of June 2012.

Well-known for its asset-management businesses, Boston is home to large money managers such as Fidelity Investments and Putnam Investments. Although employment in Boston can suffer during tough times, the job market for asset management tends to be relatively more stable than that for investment banking or trading. This makes Boston a relatively appealing financial job market during economic recessions or market pullbacks.

Boston residents are particularly passionate about their sports teams, which have enjoyed a recent wave of success. Boston is also a great place for those interested in American history and is relatively close to beaches and mountains.

2. Chicago, Illinois, USA

Mercer's Cost of Living Ranking = 110
Language = English
Average Low Temperature in January = 18
Average High Temperature in July = 84

Chicago is home to the Chicago Board of Trade and the Chicago Mercantile Exchange, making it a hot spot for futures and derivatives trading. Large banks and brokerage firms also often have offices in America's "second city."

Chicago has great nightlife and sports teams, as well as a thriving music scene; however, winters in the Windy City feel even colder than the temperatures indicate.

3. Dubai, United Arab Emirates

Mercer's Cost of Living Ranking = 94
Language = Arabic; English
Average Low Temperature in January = 58
Average High Temperature in July = 103

Dubai is one of the fastest-growing cities in the world and is rapidly increasing in importance as it attempts to become the financial capital of the Middle East. Many global financial institutions are rushing to open and staff regional offices here, making this a potentially excellent time to move to Dubai. International applicants might find that they are able to find a job here even if they do not speak Arabic. While cosmopolitan, Dubai adheres to some Islamic strictures on alcohol, so lovers of the party life might find better opportunities elsewhere.

4.Frankfurt, Germany

Mercer's Cost of Living Ranking = 88
Language = German
Average Low Temperature in January = 26
Average High Temperature in July = 74

Frankfurt is arguably the finance capital of continental Europe, and is the home of large German companies such as Deutsche Bank. Many international firms also keep their European headquarters in Frankfurt. Residents of Frankfurt enjoy significant entertainment options in the city, as well as the possibility of extensive tourism throughout Germany and Europe.

5. Hong KongChina

Mercer's Cost of Living Ranking = 9
Language = Cantonese; Mandarin; English
Average Low Temperature in January = 47
Average High Temperature in July = 92

Hong Kong is one of the top cities for finance jobs in Asia and a key gateway to China. As such, this is a rapidly growing market for a wide variety of brokerage, banking, wealth management and trading jobs. While some employees may be able to get by only speaking English, knowledge of Chinese would definitely be helpful.

Hong Kong is expensive and crowded, but is also a vibrant, exciting city with some of the best shopping anywhere. As a regional airline hub, Hong Kong also offers the possibility of exploring more of Asia during one's free time.

6. London, England

Mercer's Cost of Living Ranking = 25
Language = English
Average Low Temperature in January = 36
Average High Temperature in July = 73

For those who do not view New York as the finance capital of the world, London is it. In addition to being the finance capital of the United Kingdom, nearly all of the large international banks and brokerage firms maintain a significant presence in London.London is particularly strong in currency trading, commanding more than twice the market share of its closest rivals. Like New York, London has suffered job losses due to the credit crisis.

London is a hot spot for culture and nightlife, with plays, fine dining, museums, pubs, sporting events and easy access to continental Europe. However, the weather in London can be dreary, particularly in winter.

7. New York, New York, USA

Mercer's Cost of Living Ranking = 33
Language = English
Average Low Temperature in January = 23
Average High Temperature in July = 83

New York is commonly regarded as the finance capital of the world. Many of the largest investment banks, including Goldman Sachs, Morgan Stanley and Merrill Lynch are headquartered there. So too are several large banks, including Citigroup and JP Morgan. Nearly every large, global financial institution has a presence in New York. The city has lost a large number of jobs due to the credit crisis, but Wall Street is still the place to be.

The city that never sleeps is a hot spot for culture and nightlife, with Broadway plays, fine dining, music and museums, clubs and bars, and sporting events.

8. San Francisco, California, USA

Mercer's Cost of Living Ranking = 90
Language = English
Average Low Temperature in January = 46
Average High Temperature in July = 68

San Francisco is the finance capital of the western United States. There are many brokerage and banking firms with offices in the San Franciscoarea, and companies such as Charles Schwab and Franklin Templeton Investments have their headquarters there. As the gateway to Silicon Valley, San Francisco has a particular focus on the technology sector, and the Bay Area is the worldwide headquarters of the venture-capital industry.

San Francisco boasts significant natural beauty in its beaches and parks, and is relatively close to many outdoor opportunities, making it a great choice for city dwellers that enjoy the outdoors. While the weather in San Francisco can be foggy, temperatures are also very moderate.

9. Tokyo, Japan

Mercer's Cost of Living Ranking = 1
Language = Japanese
Average Low Temperature in January = 34
Average High Temperature in July = 83

Tokyo is the world's second largest economy and as such is the headquarters for most Japanese financial institutions as well as the regional headquarters for many international firms. Once considered a rival to New York for the title of world financial capital, Tokyo has slipped in importance in recent years as the Japanese economy and financial markets languished. Activity has picked up recently, and if the Japanese economy continues to recover, Tokyo could thrive.

While there are opportunities available, Tokyo is a difficult place to get a job if you don't speak Japanese. For those interested, the best route is probably to work for an international financial firm and then request a transfer to Tokyo.

10.Zurich, Switzerland

Mercer's Cost of Living Ranking = 6
Language = German; French; English
Average Low Temperature in January = 13
Average High Temperature in July = 85

Zurich is the capital of the Swiss banking industry and a great place to find a wide variety of finance jobs. Global giants UBS and Credit Suisse have their headquarters here, and the city is particularly strong in wealth management and private banking. Applicants will have more success if they speak some German or French, but it may be possible for otherwise well-qualified applicants to get by with only English.

Switzerland routinely ranks near the top for overall quality of life. Natural beauty, clean air, low crime, relatively high incomes and cosmopolitan locals all combine to make Zuricha wonderful place to live.

The Bottom Line
All of the cities discussed in this article offer wonderful possibilities for job seekers. Prospective employees will find that there are no wrong choices on this list, which leaves each individual free to select the city that best suits his or her interests.

Related Articles
  1. Economics

    New York's Economy: The 6 Industries Driving GDP Growth

    Learn about the six most influential industries in New York, the most economically productive city in the country, and home of Wall Street and Fifth Avenue.
  2. Professionals

    Career Advice: Investment Banking Vs. Investment Management

    Review an in-depth comparison between investment banking and investment management, their respective career paths and which one you should choose.
  3. Personal Finance

    Best States To Start Your Business In

    The best state for your business may not be as obvious as you think.
  4. Home & Auto

    The Most Affordable Cities To Live In

    Here is a look at some of the places in the United States where your money will go the furthest.
  5. Professionals

    Top States For Investment Bankers

    We look at cost of living, tax rates and opportunity to find the best places in the U.S. for investment bankers.
  6. Home & Auto

    The Most Expensive American Cities

    Some of the most beautiful places in the U.S. are also the most expensive - here's why.
  7. Home & Auto

    Top 5 Cities For Cheap Real Estate

    In this buyer's market, these places offer the best deal.
  8. Professionals

    Is A Stockbroker Career For You?

    Becoming a stockbroker requires a broad skill set and the willingness to put in long hours. But the rewards can be enormous.
  9. Professionals

    Buy-Side vs Sell-Side Analysts

    Both sell-side and buy-side analysts on Wall Street spend much of their day researching companies in a relentless effort to pick the winners.
  10. Professionals

    Broker Or Trader: Which Career Is Right For You?

    Both brokers and traders buy and sell securities, but there are some subtle differences between the two careers.
  1. Is Germany a developed country?

    Germany is a developed country. A country with a developed economy typically exhibits strong gross domestic product (GDP), ... Read Full Answer >>
  2. Do financial advisors have to find their own clients?

    Nearly all financial advisors, particularly when new to the field, have to find their own clients. An employer may provide ... Read Full Answer >>
  3. Do financial advisors get drug tested?

    Financial advisors are not drug tested by any federal or state regulatory body. This means you may receive your Series 6, ... Read Full Answer >>
  4. Is a financial advisor required to have a degree?

    Financial advisors are not required to have university degrees. However, they are required to pass certain exams administered ... Read Full Answer >>
  5. Do financial advisors have to be licensed?

    Financial advisors must possess various securities licenses in order to sell investment products. The specific products an ... Read Full Answer >>
  6. Do financial advisors need to meet quotas?

    Most financial advisors are required to meet quotas, particularly if they work for firms that pay base salaries or draws ... Read Full Answer >>
Hot Definitions
  1. Socially Responsible Investment - SRI

    An investment that is considered socially responsible because of the nature of the business the company conducts. Common ...
  2. Inverted Yield Curve

    An interest rate environment in which long-term debt instruments have a lower yield than short-term debt instruments of the ...
  3. Presidential Election Cycle (Theory)

    A theory developed by Yale Hirsch that states that U.S. stock markets are weakest in the year following the election of a ...
  4. Super Bowl Indicator

    An indicator based on the belief that a Super Bowl win for a team from the old AFL (AFC division) foretells a decline in ...
  5. Flight To Quality

    The action of investors moving their capital away from riskier investments to the safest possible investment vehicles. This ...
  6. Discouraged Worker

    A person who is eligible for employment and is able to work, but is currently unemployed and has not attempted to find employment ...
Trading Center