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NEW YORK RANKS AS THE TRADING CAPITAL OF THE WORLD

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NEW YORK RANKS AS THE TRADING CAPITAL OF THE WORLD

DailyFX has analyzed the finance and trading skills index, showing which skills can increase your salary, where in the world has the highest number of jobs and what salaries you can expect in the finance and trading sector. 

However, some words of warning: The research and data used in the DailyFX study were taken and analyzed in January, BEFORE the COVID-19 pandemic had impacted global financial markets. This study can be used as a reference and comparison to pre-pandemic areas, such as the health of the financial job market.

“The Top 20 Cities in the Global Financial Centers Index (GFCI)” was culled from data on finance and graduate vacancies per location, individual roles with the most availability and the most financially lucrative cities for each of these roles. Focus on the wider financial industry includes specific reports for trading.

Among the findings:

-London and New York lead the way with the most vacancies per trading role

-Having the skill of UCITS can increase your salary by more than $26,000

-San Francisco leads the way in locations for earning the most in finance

OPPORTUNITY FOR A CAREER

New York provides the most opportunities for those in trading roles. Combined with London they make up 42 percent of all trading roles available at the time of research. The U.S. provides the bulk of the locations, 59 percent of the 24,174 trading roles, with only Zurich and Frankfurt providing Europe’s next best locations.

Rank City Total No. of trading roles
1. New York 5,546
2. London 4,709
3. Chicago 2,823
4. Los Angeles 2,268
5. San Francisco 2,014
6. Toronto 1,761
7. Boston 1,636
8. Sydney 1,322
9. Vancouver 632
10. Dubai 520

 

TRADING ROLES: HOW MUCH DO THEY PAY?

 Rank Trading role Top earning location Salary
1. FX Trader San Francisco $98,280
2. Broker New York $72,852
3. Sales broker New York $74,255
4. Commodities trader San Francisco $63,667
5. Equity Broker San Francisco $85,774

 

OPPORTUNITY FOR A CAREER

Leading the opportunity index is London, with New York joining it at the top of DailyFX’s findings. Both cities provide significantly more opportunities for current professionals than their nearest rivals and graduates with 5.54 percent and 4.54 percent of all vacancies at graduate level. While other locations performed well, in the majority of cases the percentage of vacancies aimed at graduates was well below 1 percent. DailyFX’s results show that the worst location for graduates to look for a new role is Dubai with only 0.01 percent of all roles destined for graduates.

Rank Location Total No. of finance Vacancies  Total No. of finance graduate vacancies    % of graduate positions

 

1. London 32,274 7,499 5.79%
2. New York 17,688 5,881 4.54%
3. Chicago 8,849 1,503 1.16%
4. Hong Kong 8,801 1,432 1.11%
5. Singapore 8,584 971 0.75%

 

FINANCE ROLES: HOW MUCH DO THEY PAY?

Actuaries continue to earn good equivalent salaries at all three of the comparison levels shown. Budget analysts have the highest minimum salary of $53,501, while investor relations can achieve the highest maximum salary at $86,587.

One role with a wide range in potential salary is accountant. The research found that this role, which was most in demand according to vacancy data, has the lowest minimum salary of all roles analyzed at $39,942. Its maximum offered salary peaks at $78,523 but the overall average of $59,763 places it as the third lowest earning average salary.

While much of this data can be used as a guideline, many of the skills underpinning these industry roles are what many vacancies will be looking for. DailyFX undertook further research using the 20 most commonly appearing skills and experience criteria to understand how each particular skill and experience is valued in the industry. This was then used to reveal how the inclusion of each impacts the potential salary offered.

You can view more on the study here: www.dailyfx.com/forex/fundamental/article/special_report/2020/05/13/The-Financial-Trading-Skills-Index.html

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

new york

Executive Getaways: New York

Business trips and New York tend to go hand-in-hand for travelers. From its major convention centers and expo arenas to its breathtaking skyscrapers and rooftop bars, New York is truly a treat for the business traveler; just make sure to bring an extra pair of shoes for walking and an appetite for adventure, regardless of what part of the state you end up in. 

New York is known for hosting some of the most notable annual trade show events, boasting an international presence in sectors including fashion and retail, global logistics, business expos and more at the Jacob K. Javits Convention Center in New York City, Brooklyn’s Expo Center or one of the many luxurious hotels in the region. 

In the Empire State, there’s a plethora of transportation options to choose from. But make sure to always know your options as you navigate various parts of the city and don’t limit yourself to one means of transportation. All in all, the subway and occasional Uber will most likely be your best options; travelers will walk a significant amount either way. 

Upon your arrival, expect to be greeted with the cliché hustle and bustle atmosphere paired with crowds of people trying to get to their destinations as quickly as possible. You’ll find there’s so much to do compact in one state that it would take a couple of weeks to check them all off the list. This quick reference list is for business travelers seeking adventure in between business. The best part is, this list doesn’t require more than a couple of days to knock out. 

BAR 54

There are few rooftop bars that deliver the experience found on the 54th floor of the Hyatt Centric Times Square. Bar 54 offers some of the most fascinating photo opportunities while providing a modern and relaxing atmosphere guaranteed to help one forget they are in New York for business. If you’re seeking a delicious meal, elegant cocktails, upbeat tunes and views that don’t disappoint, Bar 54 is the perfect place for you. Take in the views of the Chrysler Building and take a peek at Times Square from the top, minus the crazy crowds and stuffy streets. Bar 54 is the ideal environment for business networking if you’re seeking an untraditional and exhilarating environment to talk business in. And if you’re simply seeking asylum after a long day of meetings and conferences, Bar 54 has a spot ready for you and you alone. Either way, you’re bound to connect with someone on the rooftop terrace. Also, if your curiosity peaks, a rooftop telescope supplies up-close views of the dozens of buildings and views surrounding the region. Get ready for some unmatched photo opportunities here!

THE VESSEL AT HUDSON YARDS

Yes, you read that correctly–it’s literally a vessel comprised of one giant spiral staircase offering unique viewpoints paired with magnificent river and city views. Let’s face it, if one visits New York and doesn’t relish the views, it’s not really a trip to New York. The Vessel features 154 flights of stairs equating to roughly 2,500 individual stairs. And it gets better: Admission to experience this Thomas Heatherwick/Heatherwick Studios masterpiece is free on the same day. So, spontaneity is fully supported and encouraged. Again, brace yourself for remarkable photo opportunities and an experience you won’t find anywhere else. It’s ideal for those who might have a fear of heights but still crave some high-towering adventure. Don’t worry, there is an elevator that goes straight to the top if the thought of climbing 154 flights of stairs makes your feet hurt. However, we highly recommend taking the stairs due to the intricate and funky mirror images one experiences on the way to the top. 

THE HIGH LINE

We promise we’re not trying to add more steps to your New York adventures, but The High Line is simply a must-do exploration of a different side of New York. In short, this is an all-in-one experience combining the best and most beautiful aspects of nature, art and design throughout a 1.45-mile stretch of elevated rail track showcasing the city’s history and beauty. Owned by New York City, The High Line delivered meat to the Meatpacking District and agricultural goods to local warehouses and factories from 1934-1980. Nowadays, it offers residents and visitors an open invitation to wander and explore its path of various viewing spurs, crossroads and natural scenery. If you happen to catch an appetite on the trail, there are a variety of food options depending on the time of year visited. Throughout the year, Santina serves some of the tastiest Italian-themed dishes that are sure to satisfy the hunger. The High Line is ideal for unwinding and de-stressing and is sure to satisfy one’s need for adventure and wandering or for those seeking a healthy dose of tranquility and a glass of wine.  

9/11 MEMORIAL & MUSEUM

In true patriotic style, the 9/11 Memorial & Museum is an unmatched experience, taking its visitors through one of the most devastating events in our country’s history and reiterating the importance to never forget the service and sacrifice given by America’s first responders and the lives lost so abruptly that day. Interestingly enough, what some don’t realize is how the early 1990s World Trade Center bombing is also remembered along with the 9/11 attacks on the WTC and the Pentagon, paired with the world’s response. Although this is a much heavier and serious place to visit, anyone who claims to be an American needs to pay tribute to the beautifully developed memorial, Survivor Tree and museum. If you already know the dates of your upcoming New York trip, take a glance at the Events Calendar to see if you can pencil-in a visit to experience a critical part of America’s history and learn to pause and appreciate the more important aspects of what we do and what we stand for as a united country. 

business

Where do People Travel for Business?

When it comes to global business, the right transportation is essential. Getting talent from one side of the globe to another matters as much as ever it has – and perhaps even more so. But which cities are the most attractive for modern business? This is a question whose answers have remained more or less the same over the last four or five years, despite the fact that global business flights have more than doubled.

New York

The Big Apple leads the pack when it comes to inbound business flight, and it has done since 2014. This is largely thanks to its status as a centre of global finance, but it’s also because New York is among the most business-friendly states in the US, with a range of tax incentives offered to startups. Buzzfeed and WebMD originated here. Whether you’re taking a private jet or a commercial airliner, New York remains the world’s premier destination for business travellers.

London

London has consistently run a close second, despite the uncertainty still lingering over Brexit. Among the biggest draws of the capital is the English language, which remains the second most widely-spoken language in the world (and probably claims the top spot when we count only the customers of international airports). London contains around 15 businesses per hundred residents; the figure for the rest of the UK is around 10.

Paris

Paris is something of a fast-climber, experiencing around twenty-per cent growth over the two-year spell from 2016-2018. It’s easy to see why a business might locate here; Paris has an enormous amount of culture and history to offer, and thus it’s easy to persuade would-be staff to settle here. While France might have something of a reputation for overbearing bureaucracy (the word, is, after all, derived from a French one), the business environment is competitive enough to tempt many international businesses and skilled employees looking to sample life on the continent.

Shanghai

With China having established itself as a global power, it’s probably no surprise that its busiest airport is so attractive to international business customers. While the city isn’t quite as attractive to western travellers as the other entries to this list, it’s a location that no globalised business can afford to neglect – and this is reflected in its rapid rise as a centre of international air traffic. 

Among the more interesting trends in global air traffic generally has been an increased spread between different continents, with five of the seven listed in the top twenty destinations. There is perhaps no better example of this than that of Shanghai.

Toronto

Toronto outranks many US cities, including San Francisco, Houston and LA. As with New York, there is a range of incentives to businesses looking to grow here. The combined rate of corporate and income tax sits at around 26.5%, which is lower than the US average by around thirteen percentage points.

Singapore

Like Dubai, Singapore claims a great deal of air travel thanks to its popularity as a stop-off for long-haul flights between Europe and Australia. But there’s more to Singapore than that. The country is widely regarded as an ideal place from which to tap into Asia’s emerging markets. The location is strategically attractive, the workforce is competitive and the economic policy is explicitly favourable to business. It’s also emerging as serious competition for Hong Kong’s financial centres. For the world’s business travellers, there’s no shortage of reasons to pay this part of the world a visit.

Report Highlights Top States for Importing & Exporting

America will always be a financial powerhouse, but how much of their financial strength is due to being one of the top exporting countries of the world? What is the U.S. exporting? And which states are the big spenders and which are big trying to make the money?

PlayUSA launched a study to find out the answer to those questions. Using data from the U.S. Census and elsewhere, the legal online gambling company named the following “The Biggest Exporters: Money Tycoons of The U.S.”

Texas: Out of all 50 states, the Lone Star State brings in the most legal tender, making $99 million in total or 18 percent of the U.S export profit. Their top export is petroleum ($42 million).

California: Although the Golden State is one of the biggest importers, they are also one of the top money makers, with $59 million from exports. (That’s 11 percent of the U.S export profit.) Their top exported category is aircraft parts.

New York: The Empire State may not be the biggest, but it doesn’t stop it from being one of the largest exporters, making $27 million in 2017. Of this, 12 percent was made from exporting Earth minerals like diamonds and coal.

PlayUSA also found that more states spent more money on importing motor vehicle parts and crude oil as opposed to such consumable products as meat and fish, which can be sourced within or close to the United States.

Scan the graphic-heavy report at www.playusa.com

 

Re-defining “Made in Italy”

Sardinia, the second largest island in the Mediterranean, is known for its contrasting mountain ranges and white sand beaches. Visited by celebrities and thousands of travelers every year, Sardinia is a place where it is possible to visit 16th century constructions, see enchanting woods filled with millenary trees, relax on a picture-perfect beach and enjoy vibrant nightlife, all in the same day.

Chiara and Gloria Piscedda are the twin sisters who, inspired by their homeland, created a fashion label that intends to bring Sardinia to the world. We had a chance to talk with them about their projects and how they envision ChiGlo’ s expansion in to emerging markets.

Tell our readers about the ChiGlo brand distinction within the fashion industry.

ChiGlo  was born out of our passion for fashion and our rich and colorful homeland, Sardinia. Our designs are a mix of traditional and contemporary up-to-date style that combine cultural patterns and themes with high-quality materials and current fashion trends. Sardinian folklore and traditions are part of each collection.

What were the motivations to deliberate upon expanding into the U.S, U.K. and the emerging marketplace?

The fashion industry is vibrant and fast-paced, requiring new brands that accommodate consumer demand for fresh trends. We are receiving so many inquiries from vibrant markets, like South Africa, the US and Latin America, pushing for ChiGlo to share its Sardinian roots with the rest of the world. We are excited to take this next step because of our desire to spread Sardinian style abroad, not only for the benefit of tourism but also to preserve its own history and culture.

Where do you envision the brand in the future?

We believe ChiGlo will have a consolidated presence in the global luxury retail market. We will host strong international distribution, and we are hoping to open a flagship store in New York in the immediate term.

With regard to market strategy, we at ChiGlo not only look to engage and play a terrific role within the influential digital community, but remain open to traditionally collaborating (such as by joint venture) with brand partners in the United States, the Asia-Pacific region, indeed the Middle East and beyond, viewing globalization as a driving proponent of our heritage’s continued expansion.

How closely do you view the correlation between ChiGlo and Sardinian tourism?

ChiGlo’ s uniqueness is rooted in our innate fascination for and appreciation of Sardinian culture, which forms a large part of our identity. We are transferring this culture and passion into a brand that features and reinvents traditional, folk elements into a contemporary but very personal collection. With each piece, we are telling a story about ourselves and our homeland, and we are looking forward to bringing this part of Sardinia to the world.

We hope that when our customers wear ChiGlo, they feel like they’re wearing a piece of Sardinia– and perhaps, this will inspire them to visit our beautiful island.

New York to Form State Trade Promotion Bank

Albany, NY – The State of New York is taking a major step to provide financing for global trade-minded companies throughout the state with the announcement that it will propose the creation of a new import-export bank.

Based on the federal model, the bank, the first of its kind in the country, would initially be vested at $35 million with funds loaned to qualified companies looking to expand their overseas exports.

The bank will have to be approved by lawmakers and would include a $25 million lending program targeted toward small businesses that have difficulty accessing credit, and $10 million for grants of as much as $25,000 to help with export capacity and translation.

Governor Mario Cuomo announced the formation of the bank at the recent Global New York Summit in New York City.

The new bank, the governor said, “is part of a larger push to help companies take advantage of growing international markets. This is about job development and these companies are being sought after by every state. If we don’t give them an incentive, another state will.”

Cuomo also said he will travel on trade missions to Canada, Mexico, Israel, China and Italy over the next year as part of his recently unveiled Global NY Initiative.

Up for reelection next month, the governor Cuomo added that the initiative is meant to help change New York’s image as a high-tax state unfriendly to business and investment and draw more foreign companies to the country’s third-most-populous state.

10/08/2014