San Francisco boasts a vibrant professional services industry—the pivotal sector supporting the Bay Area’s booming IT, life sciences and clean tech industries. The sector draws off the Bay Area’s wealth of top-ranked universities and graduate programs, and San Francisco’s superlative quality of life and renowned cultural landscape continue to attract the world’s most talented and highly-trained professionals. The area is home to twice the national average concentration of high value-added service companies, employing more than 653,500 professionals.
Crucial to the daily operations of the region’s booming innovation industries, securities and investment and legal services firms represent the largest cluster in San Francisco’s professional workforce. Securities and investment firms in particular have high employment concentration, as do commercial banks—national leaders Wells Fargo and Bank of America among them. The City is also home to the Federal Reserve Bank and the Pacific Stock Exchange. In general, this strong financial services economy lead many to consider San Francisco as the financial capital of the West Coast.