- The Professional Services sector is an integral part of the San Francisco economy, with jobs in professional and business services accounting for around a quarter of all jobs in the San Francisco/South San Francisco/San Mateo region in December 2015.
- A little less than 5 percent of venture capital investments in the Bay Area across 2016 went to business products and services, consumer products and services, or financial services.
- As of December 2016, there are 279,200 jobs in the professional and business services sector in the San Francisco-South San Francisco-Redwood City region, an increase of over ten percent from December 2015.
- From December 2015 to December 2016, the professional and business services sector in the San Francisco and San Mateo counties added 29,500 jobs, the highest job increase of any sector.
- Securities and investment firms as well as legal services firms dominate San Francisco’s professional workforce. Montgomery Street, running through San Francisco’s Financial District, is known as the ‘Wall Street of the West.’
- The City hosts some of the country’s largest banks, including Charles Schwab and Bank of the West and is home to one of the twelve regional outposts of the Federal Reserve.
In general, San Francisco’s strong financial services sector leads many to consider it the financial capital of the West Coast. ‘Fintech’, an up-and-coming industry involving the intersection of finance and technology, has a large presence in the San Francisco region.
Companies in the San Francisco Bay Area, including Silicon Valley, took in about $25 billion in venture capital funding across 2016, occupying almost 42.5% of the venture capital investments in the country.
The wealth of top-ranked universities and graduate programs in the region, including UC Berkeley’s Haas School of Business, the UCSF Medical School, and the Stanford Graduate School of Business, contribute to the strength of the region’s professional services sector.