Why You Should Move to NYC- The Job Market

Some call it The Big Apple, some call it The City That Never Sleeps, and over 8 million people call it home. New York City is arguably the most diverse and largest city in America. Although the opportunities are endless here, some people may be discouraged by the thought of moving to a place like this. Nevertheless, no matter where you come from, you can connect with this city one way or another. If you’re thinking of moving to NYC for school, a new job, or to try the best bagels in the world, I’ve compiled reasons and tips for why you should make the move.

My name is Michael and I’m an intern here at Open Systems Technologies. Five years ago I made the difficult decision to attend college in New York City, 3000 miles from my home state of California. I’ve been in your position before and know what it’s like to wonder what it would be like to move here. Have a dream job? Have a dream business idea? Frank Sinatra, one of the most famous New Yorkers, said, “If I can make it there, I can make it anywhere.” Companies are attracted to this city for the same reason that you are. The possibilities are endless. You want a company where you can thrive and they want candidates who are passionate about their work. “Why You Should Move to NYC” is a 4-part blog series where I’ll be giving you advice on what to expect if you’re looking to start your career in New York. I’m also going to provide you with answers to questions I had before moving across the country. Today’s piece will provide insight on NYC’s job market and hopefully help you in your decision making process.

Many of the companies in NYC have offices all over the world. In fact, more than 50 of the Fortune 500 companies are headquartered in New York. Goldman Sachs, JPMorgan Chase, and Citigroup call this city home. There are hundreds of other international companies and start-ups that also reside in New York City. Companies like Quartet Health and Transfix are both tech startups that were able to secure funding through their visionary business models.  If you’ve worked for a large firm abroad like Google, chances are that they have some degree of clout in NYC as well. Use this to your advantage and be confident in your skills when moving here.

Wondering where you can apply yourself? You’ll be happy to know that Forbes is positive that not only is NYC the perfect place for FinTech and InsurTech companies, but that these markets are expected to see an increase in investments/funding and overall importance to the financial industry. In fact, the U.S. FinTech market is anticipated to double in transaction value within the next 5 years from $1.1M to $2.4M. Furthermore, the New York State Department of Labor estimates that Computer and Mathematical Occupations job market is expected to increase 25.8% from 2014-2024 in comparison to the country’s 13.1%. Any way you look at it, tech is the fastest growing sector in the city’s economy. Regardless of the industry, tech professionals such as you are in high demand. Coincidentally, this is also the place for finance. If you’re questioning whether or not NYC is the right place for your future, know that it is the best place to forge a career in the field.

TIP: Reach out to colleagues who have connections in the area to learn more about the culture and expectations.

TIP: Even if you know exactly what company you want to work for and what position you want, sometimes things don’t go as planned. Resilience and a proactive attitude are two of the most important things to have during your job search. Keep applying to positions while simultaneously learning and demonstrating new skills. If you have a GitHub, keep it updated with your newest work. Even if you don’t have a high quantity of projects, be sure to always be working on them. Some recruiters believe constant development and problem-solving is more important than multiple, weaker projects.

Keep in mind that there are tens of thousands of other young professionals moving here to start their career. Want to stay ahead of the game but don’t know where to start? See what opportunities are currently awaiting you. In the next chapter of the “Why You Should Move to NYC” series, we’ll discuss how to tackle the job market through building your network.

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