How does Toronto compare to the rest of the world?
Obviously, when you think of banking, everyone knows the powerhouses are NYC, London, and HK but I was wondering where Toronto and Canada compare. With the Canadian dollar being worth less than the USD and Toronto being less of a financial hub than NYC, obviously, the salaries would be a bit lower. Which city is most comparable to Toronto in terms of comp and financial importance? I've heard it compared to other cities in the US like Chicago or Boston, how true is this?
Also how does finance in Toronto compare to places like Germany, France, Japan and Singapore? Correct me if I'm wrong but from what I've gathered from other threads, is it something like this:
Tier 1: US(NYC), UK, China
Tier 2: Germany, France, Japan, Canada, US(Non-NYC)
Tier 3: Australia, Singapore, India
Tier 5: Russia, Brazil
Tier 6: Other