Toronto Vs Canada
So I'm planning on getting a permanent residency in Canda, but unable to decide between the 2 cities. Through my research online I've come to a conclusion that Toronto is the hub of financial activities and cost of living is much lower than Vancouver. So odds of choosing where to live lies with Toronto. But I'd like to know why would a person choose to live in Vancouver instead of Toronto. Also, how does passing all 3 levels of the CFA help in establishing a career in either of the cities?
You might want to change the title in order to get some feedback champ
How have you established that Vancouver is a lower COL? The real estate market there is just as if not crazier than Toronto due to lower supply at still very high demand (Asian investors) . COL as a whole might be a bit cheaper than TO but it's very marginal. Doesn't really offset having much more career opportunities in TO.
Having only lived in Toronto for a year being from the US originally, I absolutely have loved it. Could not recommend it more. Great restaurants, nightlife, sports, Reminds me a lot of Chicago from the feel (architecture, Midwestern, on a lake) with a touch of NYC from the international flair (50% of the city is born outside of Canada).
As for who chooses to live in Vancouver, I have family and family friends in BC and they are all self-employed as business owners or in real estate.
Unless its been edited, it says lower THAN Vancouver.
Well shit, I obviously can't read. Sorry OP
Vancouverite here. Stay the fuck away from this city if you want a decent finance career. It's almost non existent compared to Toronto. There are only a handful of large corporates with actual "finance" department. Investment management field is very small and the only large pension fund (BCI) is based out of butt fuck nowhere called Victoria. Most finance jobs in this city are basically accounting jobs doing financial reporting. Obviously, the climate is way worse in tdot but at least you will have a better chance of having a solid finance job instead of being paid below average in Vancouver with insane real estate prices.
If anything, you have a better shot of getting a good job and relocate to Vancouver after you have acquired more experience in Toronto.
A few comments. Toronto cost of living is a bit lower than Vancouver, but both cities fare extremely poorly on any affordability measure. Vancouver is the 4th most expensive housing market in the word while Toronto is 11th. While the Toronto job market is more diversified and better (they are hardly any high paying jobs in Vancouver), comp in general and in the finance sector is still way way lower than comparable markets (and that's even before adjusting for the weakness of the CAD and the 53% income tax rate). To give you an example of messed up the housing marking is, breaking the 1% income threshold (~$235K) is barely enough (assuming no other debt) to quality to buy the average house (~$1mm).
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