Whether you’re browsing homes for sale in Albany or apartments in Manhattan, moving to the Empire State is an exciting prospect. New York is known for its dynamic economy, powered by the nation’s and world-leading industries. From finance to healthcare, New York’s major industries offer diverse opportunities for career growth. The state’s urban centers and cultural hubs attract professionals and families alike. With a strong economy and vibrant city, New York is an ideal location for homebuyers and renters looking to relocate.
New York overview: home prices, income, employment
top employers in new york
New York City: 333,000 employees New York City Department of Education: 135,000 employees State University of New York: 90,000 employees Northwell Health Department: 79,000 employees Metropolitan Transportation Authority: 75,000 employees
New York’s 10 major industries
1. Commercial banking
Major companies: JPMorgan Chase (New York City), Citibank (New York City), M&T Bank (Buffalo).
New York’s commercial banking services support both local businesses and global financial networks. Major employers include JPMorgan Chase, Citibank, and Bank of America, which all have significant operations in the state. Jobs in this industry include financial analysts, loan officers, and customer service representatives. The commercial banking sector employs thousands of people across the state, and New York City is a global banking center. Professionals in this field benefit from competitive salaries and extensive career advancement opportunities.
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2. Portfolio management and investment
Major companies: BlackRock (New York City), Morgan Stanley (New York City), Goldman Sachs (New York City).
Portfolio management and investments are critical to New York’s economy, as major corporations manage trillions of dollars in assets. Notable employers include BlackRock and Goldman Sachs, offering roles in investment analysis, risk management, and technology. The industry is known for its high-paying jobs and high demand for financial market expertise. Whether you’re looking for city living or suburban charm, this thriving sector makes New York an attractive place to call home.
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3. University
Major institutions: Columbia University (New York City), Cornell University (Ithaca), and University at Buffalo (Buffalo).
New York boasts a strong higher education sector with more than 200 colleges and universities. Educational institutions such as Columbia University and Cornell University offer employment for educators, administrators, and research staff. These universities also contribute significantly to the local economy, creating jobs in the areas of technology transfer and student services. Moving to New York gives you access to a top-notch academic environment and the cultural benefits of living in a college town.
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4. Health and medical insurance
Major companies: UnitedHealthcare (in-state locations), Aetna (in-state locations), Fidelis Care (Queens).
The health and medical insurance industry plays an important role in New York’s economy. Fidelis Care, headquartered in Queens, is one of the leading employers in this field. Jobs include claims processing, actuarial analysis, and customer support roles. As healthcare continues to expand, this industry offers stable employment and competitive pay. Access to an excellent healthcare network also makes New York an attractive place to live.
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5. Public education
Major Employers: New York City Department of Education (New York City), Buffalo Public Schools (Buffalo), Rochester City School District (Rochester).
New York public education is one of the state’s largest employers, providing jobs for teachers, counselors, and administrators. The New York City Department of Education alone employs more than 135,000 people, making it the largest school district in the nation. The state’s focus on quality of education attracts families looking for great schools. From the city center to the suburbs, the public education system makes New York attractive to potential homebuyers.
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6. Life insurance
Major Companies: MetLife (New York City), Guardian Life (New York City), New York Life Insurance (New York City).
New York’s life insurance industry serves millions of people across the country, and companies such as MetLife and New York Life are headquartered in the state. This field offers jobs in underwriting, sales, and actuarial operations. In 2023, life insurance companies contributed billions of dollars to the state’s economy. The stability of this industry has made New York a top destination for financial services professionals.
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7. Healthcare
Major Employers: NewYork-Presbyterian (New York City), Mount Sinai Health System (New York City), Northwell Health (New Hyde Park).
Health care is a cornerstone of New York’s economy, employing approximately 1.2 million people across the state. Roles range from nurses and technicians to administrators and medical researchers. Institutions like NewYork-Presbyterian are known for advanced medical care and innovation. For those considering moving to New York, access to world-class medical facilities is a big draw.
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8. Liability and direct insurance
Major companies: Travelers (in-state locations), Chubb (New York City locations), Allstate (in-state locations).
The property/casualty, casualty, and direct insurance industries provide essential insurance to homes and businesses throughout New York. Large employers such as Travelers and Allstate offer roles in claims adjustment, customer service, and risk assessment. In 2023, the industry supported thousands of jobs and made a significant contribution to the local economy. Due to its economic diversity, New York remains the best location for professionals in this field.
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9. Private Equity
Key Companies: KKR (New York City), Apollo Global Management (New York City), Blackstone Group (New York City).
The New York private equity firm fuels innovation by funding startups and restructuring their businesses. Major employers such as KKR and Blackstone offer roles in investment strategy, regulatory compliance, and portfolio management. This fast-growing industry attracts professionals with expertise in finance and entrepreneurship. New York’s status as a global financial leader makes it an unparalleled location for a private equity career.
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10. Media streaming and social networks
Key companies: Spotify (New York City), Vimeo (New York City), BuzzFeed (New York City).
New York has a thriving media streaming and social networking industry, with major employers such as Spotify and Vimeo headquartered in the city. Opportunities in this field range from content creation to engineering to marketing. The industry reflects New York’s status as a cultural and technological center. Professionals who move to the state have access to cutting-edge companies and a vibrant urban lifestyle.
Considering moving to New York to work in this industry? Consider selling a home in Manhattan or Queens
