[Tiktaalik]

> The big American companies came to Toronto in part because the cost of the talent was lower. According to the recruitment website Hired, the average annual tech salary in Toronto was 117,000 Canadian dollars in 2020 (only about $90,000 in U.S. dollars), versus $165,000 in Silicon Valley. But many local start-ups are now saying that because demand has suddenly risen, so have salaries, and it has become much harder to hire the talent they need.

Beyond this there's also the exchange rate difference. The gap is not as large as it was in the 1990s, but there's still some upside for Canadian work for hire shops that get paid by American companies in US dollars.