Do American Bankers have double the buying power than Canadian Bankers? T1 Cities
With the effects of taxation and present FX rates, do bankers in the NY/LA have significantly more buying power than bankers in Toronto?
Seems kind of ridiculous to me that a banker working for the same company in Toronto (assume Big 5 like RBC/BMO) is making less money than his/her counterpart in the NY office who is in the same role working the same hours because they are paid the same in nominal dollars but not on a real dollar basis - where is the equity and fairness all these banks love preaching about in their stupid compliance/HR videos?
I make less than the person reporting to me in NYC is. And rent is as high in Toronto and food/transit/clothes are more expensive. Plus, I pay higher taxes. So, overall Canada sucks working for a Canadian bank here compared to being in the U.S.
Where exactly are you living where rent is as high as New York or LA? You can get a 1 bedroom smack downtown for just over 2k CAD.
My coworkers have that same in New York with the new rent prices.
*London has entered the chat*
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