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aa_248 20.12.2010 20:51

Toronto Salaries vs Zurich
 
Dear Canadians,

My final planned destination is to settle down in Toronto. That might be 2011 or much later but I intend to start doing some research and contacting people.

I was wondering if you can help me with giving me some ideas regarding minimum salary that would allow someone to live comfortably (high maintenance). I am a single person, intend to initially rent an apartment (75-80 sq meter) in a nice region, to eventually buy a house.

To make it simpler, what would be a comparative salary in Toronto for a Zurich gross salary of at least 160K CHF or more.

Thanks and cheers
A

ps - if my post is under wrong topic, please mod, feel free to change and apologies

Fridge 20.12.2010 20:58

Re: Toronto Salaries vs Zurich
 
As a good (ex-)Vancouverite, it's my duty to tell you that Toronto sucks (thought we're not really sure why) and that you're crazy for wantin to move there!

aa_248 20.12.2010 21:15

Re: Toronto Salaries vs Zurich
 
Quote:

Originally Posted by Fridge (Post 1050467)
As a good (ex-)Vancouverite, it's my duty to tell you that Toronto sucks (thought we're not really sure why) and that you're crazy for wantin to move there!

That's not encouraging at all :( you say it with so much passion that I may believe you. Any particular reason it sucks?

I love it here but family and friends are gradually settling there and I see it as my long term plan....

where then if not toronto?

H_M 20.12.2010 21:25

Re: Toronto Salaries vs Zurich
 
I lived in Toronto for 5 years.

I would guess that between 110-120k CAD you will get a comparable life style to 160k CHF. (My understanding of CH cost of living comes from the Lausanne area). I would argue that TO is pretty cheap for a large city, especially when compared with the expensive CH cities.

However, you should keep in mind that apartments in Toronto are very small, especially in the downtown areas. 75-80 sqm is somwhat luxurious for a single person.

What kind of areas are you interested in (downtown vs uptown / business vs shopping / posh expensive vs just a nice area / what kind of people (e.g Wall Street types vs young crowd vs families) would you like as neighbours? If you can give me an indication what you are interested in, then I can let you know of some areas where you can research rents.

You can PM me if you like for more info (e.g. reasonable salaries for specific line of work with given experience - I am more knowledgeable on non-technical / trade fields ... i.e. I couldnt tell you what a software engineer or a plumber makes.

Aside from the above, I can only speak fondly of Toronto. It is a great place to live and, imho, one of the best cities in North America

lost_inbroad 20.12.2010 21:33

Re: Toronto Salaries vs Zurich
 
Quote:

Originally Posted by H_M (Post 1050488)
I lived in Toronto for 5 years.

I would guess that between 110-120k CAD you will get a comparable life style to 160k CHF. (My understanding of CH cost of living comes from the Lausanne area). I would argue that TO is pretty cheap for a large city, especially when compared with the expensive CH cities.

However, you should keep in mind that apartments in Toronto are very small, especially in the downtown areas. 75-80 sqm is somwhat luxurious for a single person.

What kind of areas are you interested in (downtown vs uptown / business vs shopping / posh expensive vs just a nice area / what kind of people (e.g Wall Street types vs young crowd vs families) would you like as neighbours? If you can give me an indication what you are interested in, then I can let you know of some areas where you can research rents.

You can PM me if you like for more info (e.g. reasonable salaries for specific line of work with given experience - I am more knowledgeable on non-technical / trade fields ... i.e. I couldnt tell you what a software engineer or a plumber makes.

Aside from the above, I can only speak fondly of Toronto. It is a great place to live and, imho, one of the best cities in North America

I agree with you. To me, it's the best city period. It's so diverse and dynamic...I'd love to go back there again to live.

aa_248 20.12.2010 21:52

Re: Toronto Salaries vs Zurich
 
Quote:

Originally Posted by H_M (Post 1050488)
I lived in Toronto for 5 years.

I would guess that between 110-120k CAD you will get a comparable life style to 160k CHF. (My understanding of CH cost of living comes from the Lausanne area). I would argue that TO is pretty cheap for a large city, especially when compared with the expensive CH cities.

However, you should keep in mind that apartments in Toronto are very small, especially in the downtown areas. 75-80 sqm is somwhat luxurious for a single person.

What kind of areas are you interested in (downtown vs uptown / business vs shopping / posh expensive vs just a nice area / what kind of people (e.g Wall Street types vs young crowd vs families) would you like as neighbours? If you can give me an indication what you are interested in, then I can let you know of some areas where you can research rents.

You can PM me if you like for more info (e.g. reasonable salaries for specific line of work with given experience - I am more knowledgeable on non-technical / trade fields ... i.e. I couldnt tell you what a software engineer or a plumber makes.

Aside from the above, I can only speak fondly of Toronto. It is a great place to live and, imho, one of the best cities in North America

Hi H_M,
Thanks for giving me hope. I guess every person will judge a city based on his or her own experience. I think youíre right in terms of expensiveness. When I visited there as a tourist, I always found it quite cheap compared to here but a tourism doesnít count. What I am worried about is the significant tax reductions which would then cut the salary hugely which then becomes not so good as compared to here.

I am not looking for luxury but also do not wish to live in a cube. I love my space and feeling comfortable at home is a priority for me. My friends here also tell me that my place is too large for me but I love it.

I am looking for an area which is close to Toronto life as I am single and want to have a social life rather than get isolated in some remote house. That said, I also like peace and quiet with good greenery (thatís why I love Zurich. Peace where you live and in a short while youíd be in the city life).

Ideal neighbors would be singles or young couples in their 30 or 40ís- Wall Street types do not mind unless they are too full of themselves).

Am I being any indicative of what Iím looking for.

By the way, Iím in insurance, reinsurance industry.
Cheers
A

lost_inbroad 20.12.2010 21:58

Re: Toronto Salaries vs Zurich
 
Quote:

Originally Posted by aa_248 (Post 1050512)
Hi H_M,
Thanks for giving me hope. I guess every person will judge a city based on his or her own experience. I think youíre right in terms of expensiveness. When I visited there as a tourist, I always found it quite cheap compared to here but a tourism doesnít count. What I am worried about is the significant tax reductions which would then cut the salary hugely which then becomes not so good as compared to here.

I am not looking for luxury but also do not wish to live in a cube. I love my space and feeling comfortable at home is a priority for me. My friends here also tell me that my place is too large for me but I love it.

I am looking for an area which is close to Toronto life as I am single and want to have a social life rather than get isolated in some remote house. That said, I also like peace and quiet with good greenery (thatís why I love Zurich. Peace where you live and in a short while youíd be in the city life).

Ideal neighbors would be singles or young couples in their 30 or 40ís- Wall Street types do not mind unless they are too full of themselves).

Am I being any indicative of what Iím looking for.

By the way, Iím in insurance, reinsurance industry.
Cheers
A

The beauty about Toronto is, that it is one of the few places on earth, where you can live, play and work downtown. There are ample apartment and houses in or around downtown.

wifehams 20.12.2010 22:02

Re: Toronto Salaries vs Zurich
 
As someone who is currently comparing the going rates for a job in Toronto to a similar one in Zurich and from there making budgets etc I can only tell you what we've found out. Please note that I have lived in Canada for years and the DH lived in CH for 8 years so we are not basing this entirely on forum searches or google.

First we are living as a couple in downtown Toronto and rent is definitely comparable to downtown Zurich (the area of Switzerland we're familiar with) but we are budgeting (when deciding where to move) as if we had 2 kids because that's the long term plan.

Because of taxes we have determined that even moving out of Toronto (to a cheaper part of the GTA) DH would have to make close to the same salary in TO as in CH for us to have equivalent qualities of life.

Now of course we expect different things in each country but even taking that into consideration if you want to maintain your CH lifestyle in TO you will need the same salary - especially if you want a high maintenance lifestyle (air conditioning and cars in Toronto aren't cheap).

I would need to know your occupation before I could give you some idea of what you might expect to earn over here.

Remember taxes are high in Canada - use this link http://www.taxtips.ca/calculators/taxcalculator.htm to get an idea.

That said - if we didn't plan on having the kids we'd stay in Toronto (and still will if we get the right job offer) - its a great city!

cannut 20.12.2010 22:03

Re: Toronto Salaries vs Zurich
 
Quote:

Originally Posted by aa_248 (Post 1050460)
Dear Canadians,

My final planned destination is to settle down in Toronto. That might be 2011 or much later but I intend to start doing some research and contacting people.

I was wondering if you can help me with giving me some ideas regarding minimum salary that would allow someone to live comfortably (high maintenance). I am a single person, intend to initially rent an apartment (75-80 sq meter) in a nice region, to eventually buy a house.

To make it simpler, what would be a comparative salary in Toronto for a Zurich gross salary of at least 160K CHF or more.

Thanks and cheers
A

ps - if my post is under wrong topic, please mod, feel free to change and apologies

Are you a brain Surgeon :rolleyes: PS:you don`t want to pay taxes in Toronto on $160 K

danny 20.12.2010 22:04

Re: Toronto Salaries vs Zurich
 
Quote:

Originally Posted by H_M (Post 1050488)
I lived in Toronto for 5 years.

I would guess that between 110-120k CAD you will get a comparable life style to 160k CHF. (My understanding of CH cost of living comes from the Lausanne area). I would argue that TO is pretty cheap for a large city, especially when compared with the expensive CH cities.


Aside from the above, I can only speak fondly of Toronto. It is a great place to live and, imho, one of the best cities in North America

good points all. I guess you have to really do research into how easily accessible the salary mentioned above is.

aa_248 20.12.2010 22:18

Re: Toronto Salaries vs Zurich
 
Quote:

Originally Posted by wifehams (Post 1050521)

I would need to know your occupation before I could give you some idea of what you might expect to earn over here.

Thanks - I am in insurance/reinsurance industry. Is there a good market there?

aa_248 20.12.2010 22:19

Re: Toronto Salaries vs Zurich
 
Quote:

Originally Posted by cannut (Post 1050522)
Are you a brain Surgeon :rolleyes: PS:you don`t want to pay taxes in Toronto on $160 K

Unfortunately not but a girl can dream, no?

But seriously, is that unreasonable?

warrenbuffet 20.12.2010 22:24

Re: Toronto Salaries vs Zurich
 
I am guessing that cost of living is less in Toronto than it is in Zurich however the taxes here are higher. Also, you can live downtown with a variety of different salaries however ofcourse it depends on where you want to live and what kind of place you want. There are a lot of options available. Just keep in mind that owning a small 1 bedroom condo downtown (aka "a box") costs close to $300k. Renting a nice decent apartment in the heart of downtown costs about $2000/month.

BTW, another option is to live a bit further from downtown but not too far. For example, there are many nice middle/upper class neighbourhoods within 10 minutes of downtown by public transit. The cost of living in some of these neighbourhoods is the same/more expensive than living downtown however it is an option worth considering if you are looking for a specific type of apartment and/or neighbourhood.

P.S. Dont take comments like "Toronto sucks" when these comments are made by other Canadians. People from big cities like Vancouver, Calgary, Montreal, etc have a friendly rivalry with Toronto as to which city is better.

cannut 20.12.2010 22:29

Re: Toronto Salaries vs Zurich
 
Quote:

Originally Posted by aa_248 (Post 1050539)
Unfortunately not but a girl can dream, no?

But seriously, is that unreasonable?

Pleasant dreams,sorry to wake you up :msnsad:
http://www.livingin-canada.com/work-...es-canada.html

But on a personal note I like Toronto,now you owe me a beer :p

Phil's grandson 20.12.2010 22:33

Re: Toronto Salaries vs Zurich
 
Never lived there, just on the outskirts. But know a bunch of people who do. And the reality is, there are many, many people who commute into town, 'cause the cost of renting in the city is painfully high. I wish I could quote you some statistics, but unfortunately I'm only going on word of mouth.

Good news is, there's plenty of insurance companies to choose from. My (Swiss) wife and I took some pictures there on our last visit, one of which had a big, fat ZŁrich insurance building in the background. :) Above and beyond that, I'm thinking you'll do just fine with that kind of money. And Toronto really is one of one of the coolest cities in the whole, wide world. Period. No matter what that Vancouver guy says (although truth be told, Vancouver is SLIGHTLY cooler that T.O., but just slightly...:msntongue:)

aa_248 20.12.2010 22:37

Re: Toronto Salaries vs Zurich
 
Quote:

Originally Posted by cannut (Post 1050555)
Pleasant dreams,sorry to wake you up :msnsad:
http://www.livingin-canada.com/work-...es-canada.html

But on a personal note I like Toronto,now you owe me a beer :p

If I can get my dream for the price of a beer, then you just earned yourself 2:D

wifehams 20.12.2010 23:10

Re: Toronto Salaries vs Zurich
 
Quote:

Originally Posted by aa_248 (Post 1050538)
Thanks - I am in insurance/reinsurance industry. Is there a good market there?

It's definitely one of the best areas for insurance and/or finance in Canada - although a lot of the insurance companies are out in Kitchener/Waterloo area which is not Toronto and you would not want to commute to there from Toronto (K/W is also where research in motion is located - home of the blackberry).

As a single person you would definitely want to live in the downtown core of Toronto - better public transportation and more restaurants/nightlife/non-family-centric events.

The link cannut sent you is what I would have guessed your salary to be. I'd suggest taking him for that beer on Toonie Tuesday or some other cheap night!

Mrs. Doolittle 21.12.2010 00:44

Re: Toronto Salaries vs Zurich
 
It's been years since I lived in Toronto so I am not going to be much help on the salary side but it's a great city.(okay, I was born there so I am just a bit biased :)) You don't need to live in the centre of the city to take advantage of the things the city has to offer.

Taxes are higher but other things are much lower, such as health insurance.

And yes, Levis are much less expensive than here. :D

H_M 21.12.2010 02:19

Re: Toronto Salaries vs Zurich
 
It is true that taxes on 160k are higher in Canada than on 160k in CH. However, I don't think that an income of 160$C is required in Toronto in order to live a life equivalent to that of someone with 160k CHF income in CH.

I maintain my non-scientific and totally random personal opinion of 110-120k $C income = 160CHF income in CH, even after taxes are taken into account.

Reinsurance is a great business (a friend works as an underwriter in industrial risk) as far as I can see and depending on your level in an organization (I assume that if you are currently on 160k CHF that you are not at the bottom of the company) , the 100k+ salary is not out of reach (of course, I could not be more generic about this than I already am given that I know next to nothing about you)

As for places to live, one of the nicer areas in downtown (and of the more expensive) would be an area called Rosedale. You will have a huge mix of Bay Street (Canadian Wall Street) folks, consultants, and other successful professionals. A slightly cheaper area, yet still very happening and only 10 minutes by Subway is the area around the Yonge Street & Eglington Avenue intersection, as well as Yonge Street and Finch Avenue.


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