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The Best Cities to Work as a Trader Following Covid-19

As we begin to see many cities around the world start to recover from the effects of the pandemic, it’s time to look towards new careers and new opportunities. A new study from DailyFX has revealed the top cities around the world to work as a trader, as well as comparing the number of vacancies and their salaries.

So we've pored over their findings to give you the top tips of where to look, and where not to look, for your new job in the financial world.

Here are six things you need to know if you want to be the next best trader in the post-outbreak climate.

1. Cities with the most amount of vacancies

The data shows that, following the Covid-19 pandemic, New York has overtaken London as the city with the most amount of vacancies, however London still came up close behind in second place. Together New York and London make up 32% of the financial vacancies globally. The third best city was Singapore.

For an idea of the effects of the pandemic on the number of vacancies, London pre-Covid boasted a total of 32,274 roles of offer, but after the months of lockdown and the knock-on consequences to the economy, the number of vaccines decreased to 9,666 - representing a startling decline of 71%.

2. Cities with the least amount of vacancies

If you are wanting to relocate and start a new career in the trading industry, maybe best avoid Dubai, Tokyo and Zurich. Dubai came last in the list of cities featured, with a total of only 431 vacancies available following the pandemic, seeing an overall drop of 55%. Even pre-Covid Dubai had the least amount of vacancies out of all the cities that where recorded.

3. Financial roles with the most global vacancies

If you're looking to get a job in finance but aren't necessarily intent on becoming a trader, then it might be worth knowing what roles are most freely available currently. According to the research, jobs that had the most amount of vacancies globally were Broker, Investment Analyst and Equity Broker.

Broker had the most vacancies by far with a global total of 10,315 post-outbreak, with cities like New York, London and Chicago serving up the most on offer.

4. Financial roles with the least global finance vacancies

Conversely, it appears it's currently much harder to find openings for the following trading roles, with Swaps Trader, FX Trader and Commodities Trader having the least amount of vacancies globally. Post-outbreak, there appeared to be only 103 vacancies worldwide for Swaps Traders, a decrease of 50% from pre-Covid numbers.

In terms of cities where trading-specific vacancies proved most rare, wannabe traders may look to give Dubai, Frankfurt and Vancouver a swerve.

5. Best paid cities to be a trader

Now down to the brass tacks - in terms of salaries in trading, it seems careers in the US cities generally pay a better wage, with San Francisco, Boston, Los Angeles, Chicago and New York all leading the way when it comes to bringing home the bacon. Unsurprisingly, London came up as boasting the best salaries in a European country.

6. Best cities for graduates

Graduates may be facing some of the toughest challenges when it comes to securing a job, so newbies may want to look to New York, London and Singapore for the most entry-level opportunities.

The survey shows that, pre-Covid, New York had 5,881 vacancies for graduates and entry level jobs, while post-outbreak that number dropped to 2,252, which puts the concrete jungle into top place for graduates despite a drop of 62%. Second is London with 1,973 graduate-level jobs (down from 7,499), and then Singapore on 1,051, which is actually an increase from 971 pre-Covid.

At the other end of the scale, Dubai, Guangzhou and Tokyo have the least amount of graduate jobs following the effects of the pandemic.

Read more about the survey at DailyFX