Financial Services
The Detroit Region is leading the tech revolution in finance, insurance, and fintech
Technology is revolutionizing every aspect of how the world spends money and moves currency. With our legacy of success in the financial services industry, companies trust that the Detroit Region has the innovative ecosystem and top tech talent they need to stay ahead of the competition.
- With 98,000+ finance and insurance workers, Detroit is one of the top U.S. metros for total financial talent.
- The Detroit Metro ranks #3 for tech talent quality vs. cost among top technology markets in the United States (2020).
- Two #1 mortgage lenders are headquartered in the Detroit Region, alongside the presence of all Big Four accounting firms.
Don’t Take Our Word for It. Hear Why Other Companies Choose Detroit.
Rocket Mortgage Posts $2.8 Billion Profit in First Quarter
Detroit’s TCF Bank Merges with Huntington in $22B Deal
Our Location Connects You with Opportunity. Explore The Detroit Region for Yourself.
Financial Services Regional Facts
#2
Highest Financial Services Job Growth
Among Large U.S. Metros; Increasing 32%
#4
Top U.S. Metro for Banking-Related Talent
23,000 Employees in 2021
#1
State for Venture Capital Growth
855% Increase from 2016-2020
#4
Emerging FinTech Hub
Detroit Ranked Among U.S. Metros (2017)
6,000+
Businesses in Banking, Consumer Insurance, and FinTech
$33 Billion+
Financial Services Industry Sales
In the Detroit Region in 2020
THE DETROIT REGION OFFERS AN UNPARALLELED INDUSTRY ECOSYSTEM. LEARN MORE ABOUT WHAT MAKES OUR HOME UNIQUE.
The Detroit Region is a growing destination for financial and tech talent.
Innovation starts with talent—and the Detroit Region boasts one of the most dynamic, highly skilled, and affordable workforces in the country. That talent advantage continues to grow as the region adds new tech and finance jobs at one of the highest rates anywhere.
- Detroit is the #8 U.S. Metro for total financial services talent growth, adding more than 13,000 industry jobs from 2016 to 2021.
- Out of the top metros, Detroit ranks #1 for lowest financial talent turnover rate and #2 for job growth rate.
- The Detroit Region has more than 191,000 tech workers with compensation rates nearly $30/hour lower than in Silicon Valley.
Our top universities support a robust tech talent pipeline in the Detroit Region.
Anchored by one of the top business schools in the nation, the Detroit Region has a large network of higher education institutions that specialize in finance-related talent. Universities and colleges throughout the region offer leading programs in cutting-edge trends like blockchain, cryptocurrency, and artificial intelligence.
- In 2020, more than 10,000 students completed financial-related college programs in the Detroit Region.
- The University of Michigan ranks #3 in the nation for undergraduate business degree programs and #8 for their graduate finance programs.
- Nearly 84,000 students completed finance-related college programs within a five-hour drive of the Detroit Region (2020).
Unicorns and Fortune 500 companies alike call the Detroit Region home.
Detroit continues to lead the industry as one of the top financial hubs in the United States, blending our historic banking legacy with a growing entrepreneurial ecosystem. Our region is home to surging start-ups, Fortune 500 corporations, and the two top mortgage lenders in the country—with new companies launching, expanding, and investing in the region every day.
- The two #1 mortgage lenders in the United States—Rocket Mortgage and United Wholesale Mortgage—are headquartered in the Detroit Region.
- The Detroit Region is home to 5 unicorn companies, including Duo Security, Llamasoft, OneStream, Rivian, and StockX.
- There are 20 Fortune 1000 companies headquartered in the Detroit Region, including 10 Fortune 500 companies.
Financial Services Sourcing: CBRE, CrunchBase, Emsi Economic Modeling, Fortune Inc., U.S. News & World Report
Contact Our Expert
Kent Spencer
VP, Business Development