Pros and cons of relocating from NY to Toronto? Pay, living expenses, opportunities, etc.? I'm a tech advisory consultant at EY

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Not overly familiar with EY in Toronto but I can speak to my PwC experience. Pay is lower than the US for sure. It depends on where you live in or around NYC. If you live in Manhattan, you can probably save on rent in Toronto, but housing is quite expensive here. Groceries will run you about the same (but you'll be making less). You'll find restaurants and bars will cost you about the same, maybe slightly more.

My experience is that most opportunities are in Toronto. We frequently have people from our office in Ottawa, or Calgary. Sometimes we need to send people to Vancouver, Montreal or Halifax. One off projects every once in a while to smaller places (Winnipeg, London Ontario). Very rarely do we travel to the US.

High performers from the US can do really well, but I've heard many complain about how they can't find enough work focused on their area of expertise/specialty. The US firms are so big, many individuals are highly specialized. In Canada, many of us are less specialized that what you'd see in the US.

Toronto is a great town, but it's not Manhattan. It's similar to Chicago, but with less crime, more cultural diversity, and a highly inferior subway system.

If you are in love with NYC, I'd think really hard about making the move. If you are 100% sure about moving to Canada, Toronto is likely the spot if you are looking to live in the closest thing we have to a big city.

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Let's not forget how high the taxes are in NYC! I personally found that in Toronto:
- I am enjoying my work more (you take on more responsibilities faster due to being less specialised)
- I am having more genuine relationships with colleagues and people in general (it helps that people place more value on real connections than in NYC - and Torontonians come from all over the world, so it makes for greater discoveries IMO)
- I am able to enjoy my Time off more (we are expected to work hard, but it doesn't take over my life like it did in NYC)
- I am able to save more (better lifestyle + lower expenses here and there, lower all in taxes.. even with the lower nominal salary - and let's not forget that your emergency fund is not as big as in the US due to healthcare coverage in Canada)

Overall, moving to Toronto was the right decision for me and I do not miss NYC as my home base. It can always fly in for the weekend if I really want to.

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I’m actually thinking of doing the opposite..relocating from the Toronto office to the New York office. This coming September I’ll be a second year staff in tech advisory and I’m not sure if I should ask to transfer right away or if I should wait till the end of my second year to be promoted to senior consultant before asking to transfer to the New York office? I heard it takes 3 years to be promoted to senior in the NYC office? What are your thoughts on this?

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Thanks a lot! This is really helpful 👍

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