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Opinion
Conor Sen

New York City Beats San Francisco for Superstar Talent

If current trends continue, the California metropolis might be trading its once dynamic economy for a period of stagnation.

Wall Street is helping New York reclaim its top-talent crown.

Wall Street is helping New York reclaim its top-talent crown.

Photographer: Spencer Platt/Getty Images North America

In the decade following the 2008 financial crisis, San Francisco became the preeminent magnet for talent in the U.S., taking the crown from New York City. The simplest reason was that the technology sector was booming while the finance sector was dealing with the after-effects of the recession.

Since then, both industries have evolved and the pandemic is accelerating changes that favor the East Coast. New York is seeing a more robust recovery than San Francisco, putting it in position to reclaim its reputation in the 2020's as the premier American city for talent.