Toronto is Canada's undisputed tech capital. But what does that actually mean for new grads trying to break in? This guide breaks down the real data—job market trends, salaries, cost of living, and top employers—so you can make informed decisions.
Toronto Tech Market: The Numbers
Let's start with the hard data from CompTIA's 2025 research:
| Metric | Toronto | National Average |
|---|---|---|
| Tech workforce | 414,667 | — |
| Tech as % of workforce | 10.7% | 6.8% |
| Global tech talent ranking | #4 | — |
Source: CompTIA, "Canada's Growing Tech Industry" (August 2025)
Toronto has the largest tech workforce in Canada—nearly double Vancouver's concentration. The city added approximately 96,000 tech jobs between 2018-2025.
Job Outlook for Software Engineers
According to the Government of Canada Job Bank (updated December 2025): - Ontario outlook: Good (4 out of 5 stars) - 10-year growth projection: Software engineers expected to grow 163% faster than overall employment
Despite headlines about tech layoffs, the data shows software engineering remains in demand. According to Robert Half's 2026 Canada Salary Guide: - 98% of IT departments are planning major transformation initiatives - 73% of tech leaders pay premium for specialized skills (AI/ML, cybersecurity, cloud)
Salary Data: What Toronto Actually Pays
By Experience Level
Data compiled from Levels.fyi, Motion Recruitment 2026 Salary Guide, and Robert Half:
| Level | Base Salary | Total Compensation |
|---|---|---|
| New Grad / Entry | $70K - $90K | $75K - $100K |
| Junior (1-2 yrs) | $80K - $110K | $90K - $130K |
| Mid (3-5 yrs) | $110K - $150K | $130K - $180K |
| Senior (5+ yrs) | $140K - $180K | $170K - $220K+ |
Note: Total compensation includes base + stock + bonus. Actual offers vary significantly by company.
Top Paying Companies in Toronto (Levels.fyi Data)
| Rank | Company | Level | Total Comp (CAD) |
|---|---|---|---|
| 1 | Broadcom | ICB 4 | $218,377 |
| 2 | Meta | E4 | $213,870 |
| 3 | The Trade Desk | Senior SWE | $211,606 |
| 4 | Wayfair | L3 | $197,153 |
| 5 | Snap | L4 | $191,481 |
| 6 | Amazon | SDE II | $166,174 |
| 7 | Faire | E3 | $160,997 |
| 8 | L4 | $160,592 | |
| 9 | Uber | SWE II | $154,625 |
| 10 | Stripe | L2 | $185,600 |
Source: Levels.fyi Toronto Leaderboard (December 2025)
By Company Type
| Company Type | New Grad Base | Pros | Cons |
|---|---|---|---|
| Big Tech (FAANG) | $85K - $100K | High TC, brand name | Competitive, layoff risk |
| Canadian Banks | $70K - $80K | Stable, good benefits | Lower base, slower pace |
| Canadian Unicorns | $80K - $95K | Growth, equity upside | Less stable than Big Tech |
| Startups | $65K - $85K | Learning, ownership | Risk, lower initial pay |
Cost of Living: The Reality Check
Here's where Toronto gets tricky. The salaries look good until you factor in living costs.
Rent Prices (2025 Data)
| Unit Type | Downtown | Outside Downtown |
|---|---|---|
| 1 Bedroom | $2,336/month | $2,053/month |
| 2 Bedroom | $3,108/month | $2,700/month |
| 3 Bedroom | $3,796/month | $3,219/month |
Source: Numbeo & CMHC Rental Market Report 2025
Good news: Toronto rents have actually declined 4.6-5% year-over-year in 2025, according to multiple sources including CMHC and Rentals.ca.
Monthly Budget: Single Professional
Based on a $80,000 salary (~$4,650/month after tax):
| Expense | Amount |
|---|---|
| Rent (1BR) | $2,200 |
| Transportation (TTC) | $156 |
| Food & Groceries | $400 |
| Utilities | $120 |
| Phone/Internet | $110 |
| Entertainment | $300 |
| Savings | $800 |
| Miscellaneous | $564 |
| Total | $4,650 |
The Affordability Math
Using the 30% rule (spend no more than 30% of income on rent):
| Salary | 30% Budget | Affordable Rent |
|---|---|---|
| $70,000 | $1,750/month | Shared accommodation or outside GTA |
| $80,000 | $2,000/month | 1BR outside downtown |
| $100,000 | $2,500/month | 1BR downtown comfortably |
| $120,000 | $3,000/month | 2BR or premium location |
Reality: Most new grads earning $70-80K either live with roommates, commute from suburbs (Mississauga, Markham), or spend more than 30% on rent.
Top Tech Companies Hiring in Toronto
Big Tech with Toronto Offices
| Company | Focus | New Grad Hiring | Notes |
|---|---|---|---|
| Amazon | AWS, Retail | Yes | Multiple offices, large presence |
| Search, Cloud | Yes | Smaller office, competitive | |
| Microsoft | Azure, Office | Yes | Mississauga campus |
| Meta | Social, AR/VR | Limited | Reduced hiring post-2023 |
| Uber | Rides, Eats | Yes | Strong Toronto engineering |
Canadian Tech Leaders
| Company | Focus | Employees | Hiring Status |
|---|---|---|---|
| Shopify | E-commerce | 10,000+ | Active (remote-first) |
| Wealthsimple | Fintech | 501-1000 | Active |
| Clio | Legal tech | 1000+ | Active |
| Hootsuite | Social media | 1000+ | Moderate |
| 1Password | Security | 500+ | Active |
Banks (Stable, Benefits-Heavy)
| Bank | Tech Focus | New Grad Programs |
|---|---|---|
| TD | AI, Digital Banking | Yes - structured program |
| RBC | AI, Cybersecurity | Yes - Amplify program |
| Scotiabank | Digital, Tangerine | Yes |
| BMO | Cloud, Data | Yes |
| CIBC | Digital Banking | Yes |
Fast-Growing Startups (2025)
According to recent growth tracking: - Betty - Toronto-based, high growth - Boosted.ai - Toronto, AI focus - ACTO - Toronto, New York - Moonvalley - Toronto, AI - Venn - Toronto, fintech
Source: LinkedIn, Wellfound (AngelList), Built In Toronto
Neighborhoods for Tech Workers
Downtown Core
- Pros: Walk to most offices, vibrant, networking
- Cons: Expensive ($2,300+ for 1BR), noisy
- Best for: Those prioritizing commute and social life
Liberty Village
- Pros: Tech hub, younger crowd, restaurants
- Cons: Crowded, streetcar only
- Best for: Startup employees, social tech workers
North York (Yonge corridor)
- Pros: Subway access, slightly cheaper, good food
- Cons: 30-40 min commute, less walkable
- Best for: Budget-conscious, TTC commuters
Markham
- Pros: Tech companies (AMD, IBM), affordable, good schools
- Cons: Car often needed, far from downtown
- Best for: Those with Markham-based jobs, families
- Average rent: $1,700 - $2,900
Mississauga
- Pros: Microsoft campus, more space, cheaper
- Cons: Car dependent, less urban
- Best for: Microsoft employees, suburbanites
- Average rent: $1,800 - $2,500
How to Land a Toronto Tech Job
1. Timing Matters
According to industry analysis: - Best time to apply: September-November (budget cycles) - Worst time: December-January (hiring freeze) - New grad roles: Open August-October for summer starts
2. The Referral Advantage
From Pragmatic Engineer's 2025 research: - Profiles with "pedigree" (top schools/companies) get 20-50x more recruiter outreach - Referrals remain the most effective way to get interviews - Companies are increasingly "picky" - looking for "perfect candidates"
3. What's In Demand
According to Robert Half and CompTIA 2025 data:
Hot skills (28-35% salary premium): - AI/ML engineering - Cybersecurity - Cloud architecture (AWS, Azure, GCP) - Data engineering
Solid demand: - Full-stack development - Backend engineering - DevOps/SRE
Tougher market: - Native mobile (iOS/Android) - Self-taught without portfolio - Career changers without projects
4. Remote vs. In-Person
According to EPT Canada research: - 42% of Canadian tech workers work remotely at least part-time - Companies demanding full RTO see higher attrition - Most Toronto roles are hybrid (2-3 days in office)
Toronto vs. Other Canadian Cities
| Factor | Toronto | Vancouver | Montreal |
|---|---|---|---|
| Avg. New Grad Salary | $80K | $75K | $65K |
| 1BR Rent | $2,336 | $2,696 | $1,644 |
| Salary After Rent | $4,100/mo | $3,550/mo | $3,750/mo |
| Job Volume | Highest | Medium | Medium |
| Tech Concentration | 10.7% | 8.6% | 8.7% |
Source: CMHC 2025 Rental Report, CompTIA
Takeaway: Toronto has the most opportunities but highest costs. Montreal offers better value; Vancouver has similar costs with fewer jobs.
Action Plan for New Grads
3-6 Months Before Graduation
- [ ] Research 20-30 target companies
- [ ] Set up job alerts on Canada Tech Jobs
- [ ] Connect with Toronto-based alumni on LinkedIn
- [ ] Start LeetCode practice (aim for 100-150 problems)
1-3 Months Before
- [ ] Apply to new grad programs (banks, Big Tech)
- [ ] Attend virtual career fairs
- [ ] Practice behavioral interviews
Housing Planning
- [ ] Budget for $2,000-2,500/month rent (or find roommates)
- [ ] Research neighborhoods based on office location
- [ ] Consider starting in suburbs, moving downtown later
Final Thoughts
Toronto is Canada's biggest tech market for a reason—more jobs, more companies, more networking opportunities. But it comes with a cost, literally.
The data shows: - Salaries are strong ($70-90K for new grads, $160K+ at top companies) - Rent is high but stabilizing (down 5% YoY) - Job outlook remains "Good" despite macro headwinds - Specialized skills command premium (AI, security, cloud)
For new grads, the key is being realistic about costs, strategic about applications, and patient with the process.
Looking for Toronto tech jobs? Browse open positions in Toronto updated daily.
Data Sources: - CompTIA, "Canada's Growing Tech Industry and Workforce" (August 2025) - Government of Canada Job Bank, Software Engineer Outlook (December 2025) - Robert Half, 2026 Canada Salary Guide - Motion Recruitment, 2026 Toronto Tech Salary Guide - Levels.fyi Toronto Compensation Data (December 2025) - CMHC, 2025 Rental Market Report - Numbeo, Cost of Living in Toronto (January 2026) - Apartments.com, Toronto Rental Market Trends (December 2025) - Pragmatic Engineer, "Tech Jobs Market 2025" - EPT Canada, "Tech Hiring Trends in 2025"