Toronto is experiencing a “brain gain”

blog.brainstation.io

19 pointsscooer4 comments

It will be nice if and when the salaries catch up.

It's only a matter of time. As more and more immigrants from US and elsewhere move to Canada, learn skills, get experience and eventually start their own companies, the competition for talent gets intense and thus the salaries.

This pool of talent was the reason for success of SV, then China and more recently India (where people are starting to get USD 100k salaries with 7-10 years experience).

The secret sauce is the pool of talent. Companies follow suit and relocate there.

"CBRE’s study found that a 500-employee firm renting a 75,000 square-foot space in Toronto would face estimated one-year operating costs of $30,224,259. Only Vancouver and Montreal were cheaper. The Bay Area, meanwhile, was the most expensive market for tech companies to operate, with a total estimated cost of $59,124,612.

It’s no wonder, then, that tech titans such as Google, Amazon, and Uber continue to expand their operations in the city."

The difference in rent is about the cost of hosting a single intern for a summer... Hardly a big factor.

Can I become an intern in your company for $28.9 million for a summer? I'll even do another year for free.

Reply on news.ycombinator.com