Wall Street workers leaving NYC

said Kimberly Bishop, vice chairman of Slayton Search partners, a Chicago-based headhunting firm.
"There's some talent available to some companies that wasn't available before," she said.

---> i.e., we could never get ANYONE to relo to Chicago from NY before, and now we've gotten one or two.

"They are going to make less, most of them," said Kurt Kraeger

---> i.e., downward mobility has a new name: Chicago

alanhart, once you adjust for cost of living, these people will be doing better in Chicago. Instead of living in cockroach infested apartments, they'll have sweet pads overlooking lake michigan. LOL!

Bullet-proof wardrobes are expensive.

----> As every round of cuts occurred, we got an increasing flow of resumes," Kies said. "You can have a Wall Street kind of experience and live in Richmond, Milwaukee or Chicago."

This is my favorite line. It shows Chicago is not a world-class city, but akin to Milwaukee and Richmond.

Rufus - Newspapers need to fill-up space every day, so they write a lot of things that are really marginally accurate. There was a great amount of this same talk after 9-11 and people and companies stayed in NYC. The same thing will happen now. People will talk about moving, then they will calm down and realize this is where they want to be and stay. Sure, a few will leave NYC, but there is a constant stream of people who want to work here to replace them.

Now for the facts: Chicago has a much higher unemployment rate, Citdel is devastated and Chicago has has had people fleeing the city for the past 20 years in droves.

Cracker Boy, don't even bother defending Citadel. This article's:
http://www.chicagobusiness.com/cgi-bin/news.pl?id=31551&seenIt=1
subtext is
1. Funds are down over 35%
2. huge subsequent defensive attempts have them over 30% cash, unable to generate returns
3. massive hemorrhaging will follow in the form of total withdrawals of investor funds.

That's okay, Rufie. Don't feel bad about not being able to make it here in your back-office job (accounts payable ????) at Lehman Brothers in Jersey City. It's okay to to have to move back to a second-tier city, you're not alone, the article shows there are others being forced to move to a similar tier of cities: Milwauke, Chicago, Richmond ...

Rufus, at this point you sound like Chicago's major, ... I do have friends in finance in chicago though and are very happy with their life/work balance. young families have a better lifestyle for the buck than in nyc.

I hear you can snap up Jennifer Hudson's Chicago pied a terre on the cheap.

admin, people in Chicago are indeed happier and have a better work schedule than overworked NYC people. plus, they get paid more, once cost of living is adjusted.

i heard same thing, which makes sense, specially if you are not one of those that get a high 6 digit salary...

i'm also not 100% sure that the lower crime rates achieved in nyc are here to stay. if the shit really hits the fan, ... i'm not sure i'll be happy living in harlem. you already have teenagers killing teenagers from time to time here. guns can be bought very cheaply and easily in the black mkt. the police is not well equipped to deal with gangsters settling in. i don't expect harlem to become newark either (i hope not).

crime will escalate sharply in NYC, including Manhattan. The nice parts of Chicago will be fine because there are no housing projects there. Overall, Chicago is a more livable city.