As a Torontonian transplant living in NYC: the rent is higher, but the same or smaller % of a much larger figure can still get you ahead by _quite_ a bit. You are simply wrong about the cost of living explaining the salary difference. It is very, very, very good to be working here and not in Toronto.
New York certainly Trumps (thought this needed some comic relief) Toronto in many ways, but I am guessing you're probably making a claim based on a salary that I suspect isn't as common as you would like it to be. People I previously worked with who did the exact same thing regularly talk about how expensive it is and that they are struggling to get by. I've had the same option on the table and despite my disinterest living in the US right now, I've never been able to make the math work. Taxes are not that low, especially when you add back healthcare, and it's so expensive to live the same quality of life that I might be able to short term improve my cash flow, but if I sacrifice I can also do that here?!
