In short... YES. With the current exchange rate, salaries in Toronto are typically 50% lower than most US tech hubs.
The Bay Area, Seattle and New York have long been the home to the top global tech companies, but more and more companies have been seeking alternative tech hubs like Toronto for the lower cost of salaries but same calibre of talent.
The chart above outlines an approximate salary comparison for senior profiles with 4+ years experience.
Senior Engineers at this salary level have studied at the top engineering schools in Canada such as University of Waterloo, University of Toronto, or other top international universities prior to moving to Toronto.
They are typically engineers that are sought after by top US tech companies but prefer Toronto because of the higher quality of life due to a low cost of living.
For international candidates, there is an easier immigration process for STEM graduates and their families.
When you take into account the cost of employee benefits as well as government tax incentive programs your annual costs for a team in Toronto reduces even more than 50%.
If you’d like to learn more, click here find out how teams are accessing talent or schedule a quick call to find out how your team can hire in Toronto.