Eug
Lifer
Well, it really depends on what you do. My friends in finance literally made 3X as much in Toronto than they would in smaller cities, which isn't a huge surprise, since all the big finance deals in Canada occur in Toronto (or Calgary). Same goes for NYC in the US. You're not going to make it big as a corporate finance guy in Longview, WA.That's totally irrelevant. MOST of the country has prices comparable to here, not big cities. THAT is the point of this sub-discussion.
Now, you can personally choose to be ok with it. I even concede that you get some things in return (high concentration of entertainment and cultural locales, etc). None of that alters the fact that it's a financial loss however, out of step with earnings in the nation.
For my job, I was making roughly 50% more in Toronto as I would than I would have in the city where I grew up (of 175000). However, that difference has been eliminated in recent years. So, if I lived now where I grew up, I'd have a much bigger place and could live much larger. But the city is simply too small for my tastes. I'd happily give up that extra money to live in a place I enjoy more.
BTW, living in a big city doesn't necessarily mean NYC or Toronto. There are lots of big cities in North America, and most have median rental costs higher than average.
If you love living there in Longview, then great, but a lot of people simply wouldn't, and would rather spend way more to live elsewhere.
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