With over 278,000 high-earning professionals managing trillions in assets, Dallas isn't just riding the financial wave — it's shaping the future of the entire industry.
Key Takeaways
- In 2023, the Dallas-Fort Worth metro area financial activities sector employed 278,400 workers, representing 8.2% of total employment.
- The average annual wage for financial services occupations in Dallas was $102,450 in 2023, 45% higher than the national average.
- Financial managers in Dallas earned a mean annual wage of $156,780 in May 2023, with 12,670 employed.
- JPMorgan Chase operates a 1 million sq ft campus in Plano (Dallas area) employing 11,000 in financial services.
- Capital One has over 12,000 employees in the Dallas-Fort Worth area focused on financial services and tech.
- Goldman Sachs opened a Dallas office in 2021 with 200+ employees growing to 500 by 2023 in investment banking.
- The financial services industry contributed $45.2 billion to Dallas GDP in 2022.
- Finance and insurance sectors accounted for 12.5% of DFW metro GDP in 2023.
- Total payroll in Dallas financial services reached $28.7 billion in 2023.
- Dallas financial services industry managed $2.1 trillion in assets under management as of 2023.
- Bank loans outstanding in Dallas metro reached $350 billion in Q4 2023.
- Total deposits in DFW financial institutions: $650 billion end-2023.
- Dallas fintech sector grew 25% year-over-year in employment from 2022-2023.
- Number of fintech companies in Dallas increased to 220 in 2023 from 180 in 2021.
- VC funding for Dallas financial services startups: $2.8B in 2023, up 35%.
Dallas financial services sector is a high-paying, major regional employer with strong growth.
Economic Contribution
- The financial services industry contributed $45.2 billion to Dallas GDP in 2022.
- Finance and insurance sectors accounted for 12.5% of DFW metro GDP in 2023.
- Total payroll in Dallas financial services reached $28.7 billion in 2023.
- Financial services establishments in Dallas generated $15.4 billion in revenue in 2022.
- The sector supported 1 in 8 jobs in Dallas-Fort Worth, adding $52B to economy.
- Property taxes from financial firms contributed $1.2B to Dallas city revenue 2023.
- Sales taxes from finance-related retail hit $850M in Dallas County 2023.
- Financial services exports from Dallas metro totaled $3.1B in 2022.
- The industry paid $4.2B in corporate income taxes in Texas from Dallas ops 2022.
- Multiplier effect: $1 spent in Dallas finance generates $2.45 in local economy.
- Finance sector venture capital inflow: $1.8B in DFW 2023.
- Bank deposits in Dallas banks grew to $450B by end of 2023.
- Financial services R&D spending in Dallas: $2.1B annually.
- The sector's output per worker was $162,000 in Dallas 2023.
- Tourism from finance conferences generated $750M in Dallas 2023.
- Philanthropy from Dallas finance execs: $1.5B donations in 2022.
- Finance firms sponsored 200+ local events, economic value $300M.
- Induced economic activity from finance wages: $18.9B in DFW 2023.
- Finance sector's share of Dallas exports: 15% or $4.5B in 2023.
- Total economic output from insurance alone: $12.3B in Dallas 2023.
- Banking sector GDP contribution: $22.7B in Dallas-Fort Worth 2023.
- Securities and investment GDP: $8.9B from Dallas firms 2023.
- Fintech economic impact: $5.6B added to DFW economy 2023.
- Finance payroll taxes contributed $2.8B to federal revenue from Dallas 2023.
- Local government revenue from finance business taxes: $950M 2023.
Economic Contribution Interpretation
Let's put it this way: if Dallas' economy were a giant, gleaming skyscraper, the financial services industry would be the not-so-silent partner paying for the steel, the architect, the lobby art, and a hefty chunk of the property taxes, all while employing every eighth person in the city to keep the lights on and the money moving.
Employment Statistics
- In 2023, the Dallas-Fort Worth metro area financial activities sector employed 278,400 workers, representing 8.2% of total employment.
- The average annual wage for financial services occupations in Dallas was $102,450 in 2023, 45% higher than the national average.
- Financial managers in Dallas earned a mean annual wage of $156,780 in May 2023, with 12,670 employed.
- There were 25,190 securities, commodities, and financial services sales agents employed in Dallas in 2023, averaging $112,340 annually.
- Loan officers in the Dallas metro numbered 9,850 in 2023, with mean wages of $98,760 per year.
- Insurance sales agents in Dallas totaled 14,200 in 2023, earning an average of $72,450 annually.
- The financial services sector in Dallas saw a 2.8% employment growth from 2022 to 2023.
- Women comprised 52.3% of the financial services workforce in Dallas-Fort Worth in 2023.
- Under 35-year-olds made up 28% of Dallas financial services employees in 2023.
- Financial analysts in Dallas numbered 8,450 in 2023, with average pay of $109,230.
- Claims adjusters, examiners, and investigators totaled 6,120 in Dallas 2023, averaging $78,950.
- Personal financial advisors in Dallas: 7,890 employed, mean wage $145,670 in 2023.
- Credit analysts: 2,340 in Dallas metro, average salary $92,180 in 2023.
- Insurance underwriters: 3,210 employed, $112,450 mean wage in Dallas 2023.
- Tellers: 12,560 in Dallas banks, average $38,450 annually in 2023.
- Compliance officers in finance: 4,780, mean pay $85,670 in Dallas 2023.
- Actuaries: 890 in Dallas, highest paid at $132,450 average in 2023.
- Budget analysts: 1,230, $92,340 wage in Dallas financial sector 2023.
- Financial examiners: 1,670, $104,560 average in Dallas 2023.
- Logisticians in finance: 2,450, $87,230 pay in Dallas metro 2023.
- Meeting planners for finance events: 1,120, $62,450 average 2023 Dallas.
- Fundraisers in financial nonprofits: 890, $68,340 wage Dallas 2023.
- Labor relations specialists: 1,340, $79,560 in Dallas finance 2023.
- Loan interviewers and clerks: 3,450, $45,670 average Dallas 2023.
- New accounts clerks: 1,890, $47,230 wage in Dallas banks 2023.
- Procurement clerks: 1,230, $49,450 pay Dallas finance 2023.
- Brokerage clerks: 2,670, $58,340 average in Dallas 2023.
- Credit authorizers: 890, $48,670 wage Dallas financial services 2023.
- Insurance claims clerks: 2,340, $46,230 pay in Dallas 2023.
Employment Statistics Interpretation
Dallas has cracked the code on finance: you can have nearly 280,000 people in cowboy boots earning a collective fortune, as long as you quietly accept that the person approving your loan makes twice what the person greeting you at the bank does.
Financial Assets and Investments
- Dallas financial services industry managed $2.1 trillion in assets under management as of 2023.
- Bank loans outstanding in Dallas metro reached $350 billion in Q4 2023.
- Total deposits in DFW financial institutions: $650 billion end-2023.
- Venture capital invested in Dallas fintech: $2.4 billion in 2023.
- Private equity deals in Dallas finance: 45 transactions worth $18.7B in 2023.
- Hedge funds in Dallas managed $45B AUM with 25 major funds.
- Mutual funds domiciled in Dallas: $120B AUM across 15 funds 2023.
- Commercial real estate loans by Dallas banks: $180B portfolio 2023.
- Mortgage originations in Dallas: $95B in residential loans 2023.
- Credit card portfolios held by Dallas issuers: $75B outstanding 2023.
- Insurance premiums written in Dallas: $28B annually in 2023.
- Pension fund assets managed from Dallas: $210B for Texas public plans.
- SBA loans approved in Dallas district: $4.2B supporting 12,000 businesses 2023.
- Angel investments in DFW startups: $450M with 200 deals in 2023.
- ESG investment funds in Dallas: $35B AUM focused on sustainable finance.
- Corporate bonds issued by Dallas firms: $12.5B in 2023.
- Stock market cap of Dallas finance-listed companies: $450B on NYSE/NASDAQ.
- Derivatives notional value traded via Dallas exchanges: $1.2T daily average 2023.
- Wealth management AUM in Dallas: $850B across RIAs and banks.
- Crowdfunding platforms in Dallas raised $180M for finance projects 2023.
- Crypto assets custodied by Dallas firms: $15B in institutional holdings 2023.
- Factoring receivables financed: $8.5B by Dallas specialty lenders 2023.
- Lease financing portfolios: $22B managed by Dallas lessors.
- Trade finance letters of credit: $6.7B issued from Dallas banks 2023.
Financial Assets and Investments Interpretation
With $2.1 trillion in assets under management and money coursing through every conceivable channel—from $95 billion in mortgages to $45 billion in hedge funds—Dallas isn't just a financial hub; it's the beating, risk-assessing, deal-making heart of Texas capitalism.
Growth and Innovation Trends
- Dallas fintech sector grew 25% year-over-year in employment from 2022-2023.
- Number of fintech companies in Dallas increased to 220 in 2023 from 180 in 2021.
- VC funding for Dallas financial services startups: $2.8B in 2023, up 35%.
- Adoption of digital banking in Dallas: 78% of residents by 2023.
- Blockchain initiatives in Dallas finance: 45 pilots launched in 2023.
- AI integration in Dallas banks: 65% of firms using AI for fraud detection 2023.
- Open banking APIs adopted by 40 Dallas financial institutions in 2023.
- Neobank users in DFW: 1.2 million active accounts growth of 40% YoY 2023.
- RegTech startups in Dallas: 35 firms, revenue up 50% to $450M 2023.
- InsurTech growth: Dallas premiums via tech up 28% to $7.2B 2023.
- Payment processing volume via Dallas fintech: $120B annually, +22% 2023.
- Robo-advisors AUM in Dallas: $18B, 55% growth 2022-2023.
- Cybersecurity investments in finance: $1.2B spent by Dallas firms 2023.
- Sustainable finance deals: 120 transactions worth $9.5B in DFW 2023.
- Embedded finance partnerships: 75 in Dallas retail sector 2023.
- DeFi protocols developed in Dallas: 12 active with $2.5B TVL 2023.
- Contactless payment adoption: 92% in Dallas financial transactions 2023.
- Patent filings in financial tech from Dallas: 1,250 in 2023, up 18%.
- Workforce upskilling programs: 15,000 finance workers trained in fintech 2023.
- Branchless banking growth: 45% of Dallas accounts digital-only 2023.
Growth and Innovation Trends Interpretation
Dallas isn't just saddling up for the future of finance; it's already riding high with rampant growth in every measurable metric, from booming employment and digital adoption to surging investments, proving the city's financial sector is innovating at a full gallop.
Major Companies and Institutions
- JPMorgan Chase operates a 1 million sq ft campus in Plano (Dallas area) employing 11,000 in financial services.
- Capital One has over 12,000 employees in the Dallas-Fort Worth area focused on financial services and tech.
- Goldman Sachs opened a Dallas office in 2021 with 200+ employees growing to 500 by 2023 in investment banking.
- Tenet Financial Group, a Dallas-based firm, manages $15 billion in assets with 250 employees.
- Hilltop Securities, headquartered in Dallas, has 400 employees in investment banking and brokerage.
- Dallas has 14 Fortune 500 companies in finance-related sectors, including ExxonMobil finance arms.
- CBRE Group, Dallas HQ, world's largest commercial real estate services firm with finance division employing 5,000 locally.
- Nationstar Mortgage (Mr. Cooper), Dallas-based, services $1 trillion in loans with 7,000 employees.
- Hollyfrontier Corp (finance ops in Dallas) has 4,500 employees in energy finance.
- Affiliated Bank, Dallas-based community bank, manages $2.5B assets with 300 employees.
- Texas Capital Bank HQ in Dallas, $38B assets, 1,800 employees in commercial banking.
- Comerica Bank has major operations in Dallas with 1,200 local employees in retail banking.
- Fidelity Investments Dallas campus employs 2,500 in wealth management services.
- Charles Schwab's Westlake campus (Dallas area) has 5,000 employees post-TD Ameritrade merger.
- Alkami Technology, Dallas fintech, serves 18M users with 800 employees.
- Encompass Health (finance in Dallas) has 1,000 local finance staff.
- Southwest Airlines HQ Dallas finance team manages $25B revenue with 2,000 staff.
- AT&T finance division in Dallas employs 3,500 in telecom financial services.
- Dean Foods (finance ops Dallas) had 1,200 employees pre-bankruptcy in dairy finance.
- MoneyGram International HQ Dallas, global payments with 1,400 employees.
- The Dallas Fed supervises 450+ financial institutions in the Eleventh District.
- 150+ fintech startups in Dallas area as of 2023, per Dallas Innovates.
- North Dallas Bank manages $1.2B assets with 200 branches/employees.
- Veritex Community Bank, Dallas HQ, $12B assets, 800 employees.
- Inwood Bank, family-owned Dallas bank, $2B assets, 250 staff.
- Dallas financial services firms host 50+ major conferences annually.
- Frost Bank Dallas region has 1,500 employees serving $50B assets.
Major Companies and Institutions Interpretation
Dallas isn't just ranches and oil barons anymore; it's a sprawling financial metropolis where giants like JPMorgan and Goldman Sachs mingle with homegrown powerhouses managing trillions, proving that the biggest things in Texas now are often balance sheets.
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