Toronto's Finance Industry

[lana]

Hi,
I’ve read an article claiming that there is a shortage of qualified workers in the financial industry in Toronto. The main reasons are the retiring baby boomers and the city's inability to attract foreign workers - they blame the compensation, the tax brackets, and the limits to career growth, costs of living, traffic, and lack of recognition of international credentials. The reasons as you can see are more than you initially thought.

What do you think the city and the financial institutions can do to make Toronto more competitive and attractive?

[newincanada]

I agree - the reasons are more than I thought. I think the new immigrants/skilled workers suffer from all the "Do you have Canadian experience?" crap. Well as we can see not only the immigrants suffer. A lot of skilled workers are granted visas to relocate to Canada and I agree there are professions like doctors who have to be evaluated because they deal with human lives but for IT who cares about Canadian experience? Only the recruiters - is my answer, it's all about the money. :rolleyes:

[contractor]

I see that you too had a bitter experience with recruiters... Don't we all? There is a shortage and that's a fact but it doesn't mean that everybody will get their dream job. You may have a degree and experience but if you are not convincing on the job interview...forget it.

[Tsveta]

I see that you too had a bitter experience with recruiters... Don't we all? There is a shortage and that's a fact but it doesn't mean that everybody will get their dream job. You may have a degree and experience but if you are not convincing on the job interview...forget it.


I think contractor has a point there. Do not forget that you have to be very well prepared for the job interview. It is good that new positions will open up, this means more opportunities but still you have to nail the interview.

[srv]

This is really interesting discussion. I didn't have an idea that in Toronto there is a shortage in the finance industry. I always were under the impression that because we have so many new immigrants every year there is no need even to discuss this, but it turns out I am not even close to make such an assumptions. It all makes sense though. I guess it is not an easy task to find your first job…

[Tsveta]

What do you think the city and the financial institutions can do to make Toronto more competitive and attractive?

I think competitive salaries and lower taxes will do the trick.
I am really concerned about the increasing traffic and the fact that we don't have good subway structure...