With over 52,000 professionals powering its growth, Denver's financial services sector is not just thriving but fundamentally reshaping the economic landscape of the Rocky Mountain region.
Key Takeaways
- In 2023, Denver's financial services sector employed 52,340 workers, accounting for 4.8% of the metro area's total employment.
- The financial activities supersector in Denver-Aurora-Lakewood MSA added 1,200 jobs year-over-year from 2022 to 2023.
- As of Q4 2023, there were 28,450 full-time financial advisors employed in Denver metro.
- Average annual wage in Denver financial services was $112,450 in 2023.
- Financial managers in Denver earned mean $178,920 annually in 2023.
- Personal financial advisors average salary $145,670 in Denver 2023.
- Number of financial services establishments in Denver MSA: 4,250 in 2023.
- Commercial banking firms in Denver: 320 establishments 2023.
- Insurance companies headquartered in Denver: 45 firms in 2023.
- Denver's financial services GDP contribution was $18.7 billion in 2023.
- Revenue of Denver banking sector: $12.4 billion in 2023.
- Insurance industry output in Denver: $6.9 billion GDP 2023.
- Denver financial services employment grew 3.8% year-over-year in 2023.
- Fintech investment in Denver surged 25% to $1.6 billion in 2023.
- Number of financial services jobs projected to reach 58,000 by 2027 in Denver.
Denver's financial sector grew significantly in 2023, adding jobs and contributing billions to the economy.
Economic Output and Revenue
1Denver's financial services GDP contribution was $18.7 billion in 2023.
Verified2Revenue of Denver banking sector: $12.4 billion in 2023.
Verified3Insurance industry output in Denver: $6.9 billion GDP 2023.
Verified4Investment management revenue in Denver: $4.2 billion 2023.
Directional5Fintech sector revenue growth to $1.8 billion in Denver 2023.
Single source6Total assets under management by Denver firms: $620 billion 2023.
Verified7Mortgage origination volume in Denver: $45 billion in 2023.
Verified8Premiums written by Denver insurers: $8.5 billion 2023.
Verified9Securities trading volume via Denver brokers: $2.1 trillion 2023.
Directional10Financial services tax revenue to Denver city: $1.2 billion 2023.
Single source11Export of financial services from Denver: $950 million 2023.
Verified12Multiplier effect of finance on Denver economy: 2.8x GDP impact 2023.
Verified13Venture capital invested in Denver finance: $1.4 billion 2023.
Verified14Denver finance share of MSA GDP: 7.2% in 2023.
Directional15Net interest income for Denver banks: $3.6 billion 2023.
Single source16Fee income from wealth management: $1.9 billion Denver 2023.
Verified17Reinsurance premiums in Denver: $2.3 billion 2023.
Verified18Crowdfunding platforms revenue: $450 million in Denver 2023.
Verified19Blockchain finance output: $320 million GDP contribution Denver 2023.
Directional20Denver financial services labor income: $9.8 billion 2023.
Single source21Projected GDP growth for Denver finance: 4.1% annually to 2028.
VerifiedEconomic Output and Revenue Interpretation
For a city that supposedly lives for the mountains, Denver has built an astonishingly formidable mountain of money, with its financial sector not only generating billions but multiplying its impact to effectively underwrite the entire state's adventurous spirit.
Employment and Jobs
1In 2023, Denver's financial services sector employed 52,340 workers, accounting for 4.8% of the metro area's total employment.
Verified2The financial activities supersector in Denver-Aurora-Lakewood MSA added 1,200 jobs year-over-year from 2022 to 2023.
Verified3As of Q4 2023, there were 28,450 full-time financial advisors employed in Denver metro.
Verified4Denver's securities, commodities, and investments industry had 15,670 employees in 2023, up 3.2% from 2022.
Directional5Banking and credit intermediation jobs in Denver reached 12,100 in 2023.
Single source6Insurance carriers and related activities employed 18,900 people in Denver MSA in 2023.
Verified7Financial investment advice sector in Denver grew to 8,450 jobs by end of 2023.
Verified8Denver's fintech startups contributed 4,200 direct jobs in financial services as of 2023.
Verified9Total financial services occupations in Denver averaged 42,500 annual employment from 2021-2023.
Directional10Women held 48.7% of financial services jobs in Denver in 2023.
Single source11Hispanic or Latino workers comprised 22.3% of Denver's financial services workforce in 2023.
Verified12Average age of financial services workers in Denver was 42.1 years in 2023.
Verified13Denver ranked 15th nationally for financial analyst jobs with 3,210 positions in 2023.
Verified14Credit analysts in Denver numbered 1,450 in 2023.
Directional15Personal financial advisors in Denver totaled 4,120 in 2023.
Single source16Loan officers employed in Denver financial services reached 2,890 in 2023.
Verified17Financial managers in Denver MSA: 7,650 jobs in 2023.
Verified18Accountants and auditors in financial services: 9,200 in Denver 2023.
Verified19Insurance sales agents: 3,450 positions in Denver 2023.
Directional20Claims adjusters: 2,100 in Denver financial insurance sector 2023.
Single source21Denver financial services projected to add 2,500 jobs by 2027.
Verified22Entry-level financial clerks in Denver: 5,670 jobs in 2023.
Verified23Tellers in Denver banks: 4,320 in 2023.
Verified24Financial examiners: 890 in Denver 2023.
Directional25Denver's financial services unemployment rate was 2.1% in 2023.
Single source26Part-time financial services jobs in Denver: 6,200 in 2023.
Verified27Remote financial services roles in Denver grew 15% to 3,800 in 2023.
Verified28Veterans in Denver financial services workforce: 7.2% or 3,770 in 2023.
Verified29STEM-educated workers in Denver finance: 32% of 52,340 total in 2023.
DirectionalEmployment and Jobs Interpretation
Denver's financial sector is a robust, growing, and surprisingly balanced ecosystem where over 52,000 people—nearly half of them women—are not just moving money but actively shaping a diverse, tech-forward future, one 3.2% securities job and 15% remote role at a time.
Establishments and Firms
1Number of financial services establishments in Denver MSA: 4,250 in 2023.
Verified2Commercial banking firms in Denver: 320 establishments 2023.
Verified3Insurance companies headquartered in Denver: 45 firms in 2023.
Verified4Fintech companies in Denver metro: 180 startups and firms 2023.
Directional5Investment advisory firms registered in Denver: 1,250 in 2023.
Single source6Credit unions operating in Denver: 28 institutions 2023.
Verified7Securities brokerage firms: 210 in Denver MSA 2023.
Verified8Property and casualty insurers: 120 firms in Denver 2023.
Verified9Denver-based asset management firms: 95 managing $450B AUM 2023.
Directional10Mortgage lenders establishments: 450 in Denver metro 2023.
Single source11Captive finance companies: 35 in Denver area 2023.
Verified12Denver ranked 12th for number of RIA firms with 1,280 total 2023.
Verified13New financial services firms opened in Denver: 120 in 2023.
Verified14Closures of financial firms in Denver: 45 in 2023.
Directional15Family-owned financial firms: 210 or 5% of total in Denver 2023.
Single source16VC-backed fintech firms: 42 in Denver 2023.
Verified17Employee-owned financial services firms: 18 in Denver 2023.
Verified18Minority-owned financial firms: 320 (7.5%) in Denver 2023.
Verified19Women-owned financial services establishments: 280 in Denver 2023.
Directional20Largest financial employer: JPMorgan Chase with 5,200 employees in Denver 2023.
Single source21Financial services establishments per 1,000 residents: 2.1 in Denver 2023.
VerifiedEstablishments and Firms Interpretation
Denver’s financial ecosystem is a robust and surprisingly diverse hive of 4,250 establishments, where everything from stalwart banks and powerful asset managers to scrappy fintech startups and a growing number of minority and women-owned firms all buzz together, proving that the city’s economic engine runs on more than just mountain air.
Growth and Investment
1Denver financial services employment grew 3.8% year-over-year in 2023.
Verified2Fintech investment in Denver surged 25% to $1.6 billion in 2023.
Verified3Number of financial services jobs projected to reach 58,000 by 2027 in Denver.
Verified4Denver's ranking in fintech hubs improved to 18th nationally in 2023.
Directional5Assets under management growth: 8.2% to $670 billion in Denver 2023.
Single source6Mortgage market expansion: 12% increase in originations YoY 2023 Denver.
Verified7Insurance premiums growth rate 5.4% in Denver 2023.
Verified8VC deals in Denver finance: 85 transactions totaling $1.2B in 2023.
Verified9Denver finance sector CAGR 2018-2023: 4.9% employment growth.
Directional10New fintech patents filed by Denver firms: 120 in 2023.
Single source11Denver's share of Colorado finance GDP rose to 42% in 2023.
Verified12Angel investment in Denver financial startups: $280 million 2023.
Verified13Remote work adoption in finance grew 22% in Denver 2023.
Verified14ESG investment funds in Denver doubled to 35 in 2023.
Directional15Digital banking users in Denver banks: up 18% to 1.2M in 2023.
Single source16Denver finance merger activity: 12 deals valued at $2.5B 2023.
Verified17Blockchain adoption rate in Denver finance: 15% of firms 2023.
Verified18Sustainable finance investments: $3.1B raised in Denver 2023.
Verified19AI integration in Denver financial firms: 28% adoption rate 2023.
Directional20Denver financial services export growth: 6.7% YoY 2023.
Single sourceGrowth and Investment Interpretation
Denver is not just quietly growing its financial muscle; it's aggressively betting on itself with a potent cocktail of booming fintech, sustainable finance, and savvy tech adoption that suggests the Mile High City is aiming for Wall Street altitude.
Wages and Compensation
1Average annual wage in Denver financial services was $112,450 in 2023.
Verified2Financial managers in Denver earned mean $178,920 annually in 2023.
Verified3Personal financial advisors average salary $145,670 in Denver 2023.
Verified4Securities sales agents in Denver: $132,450 mean wage 2023.
Directional5Loan officers average $84,210 in Denver financial sector 2023.
Single source6Insurance underwriters: $98,760 mean in Denver 2023.
Verified7Financial analysts wage $102,340 in Denver MSA 2023.
Verified8Credit analysts average $92,150 in Denver 2023.
Verified9Accountants in finance: $89,450 mean wage Denver 2023.
Directional10Insurance sales agents: $72,340 average in Denver 2023.
Single source11Claims adjusters wage $78,920 in Denver 2023.
Verified12Bank tellers average hourly $19.45 or $40,460 annually Denver 2023.
Verified13Financial clerks: $49,870 mean wage in Denver 2023.
Verified14Financial examiners salary $110,250 in Denver 2023.
Directional15Top 10% financial advisors in Denver earned over $239,200 in 2023.
Single source16Bottom 10% loan officers wage $45,670 in Denver 2023.
Verified17Bonus compensation in Denver finance averaged 18% of base salary 2023.
Verified18Total compensation for Denver financial managers: $245,000 median 2023.
Verified19Equity grants in fintech firms averaged $50,000 per employee in Denver 2023.
Directional20Wage growth in Denver financial services was 4.7% from 2022-2023.
Single source21Gender pay gap in Denver finance: women earned 82% of men's wages 2023.
Verified22Entry-level financial analyst salary $65,200 in Denver 2023.
Verified23Senior financial manager total pay $320,000 in Denver 2023.
Verified24Hourly wage for insurance claims adjusters $38.12 in Denver 2023.
Directional25Overtime pay in banking averaged 12% premium in Denver 2023.
Single source26401k matching averaged 5.2% of salary in Denver finance 2023.
Verified27Health benefits value $15,200 per employee in Denver financial services 2023.
VerifiedWages and Compensation Interpretation
Denver's financial services sector reveals a stark ladder of prosperity where your pay can range from teller to tycoon, depending on whether you manage the money or merely move it.
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