A LOT of money to be made in Toronto so I'm sure you'll do fine. Nursing pays extremely well too. My buddy's ex did an extra couple of years after her nursing degree and now makes a little over 100k a year here in Ottawa.
I have had friends who went to Toronto and are now managing bands and touring all throughout the world as talent managers and others who went and crashed out hard and are now nowhere near their desired careers. The only common area they all have is they love the city and cant imagine living anywhere else.
I was planning on moving to Toronto prior to getting this position. It pays pretty well and career advancement in the GOC really only happens in Ottawa since all HQ's are located here. Toronto is great for private sector jobs but the older I get and the closer I get to starting a family I just cant think of a better place to live other than Ottawa.
You'll love Toronto though, its prob the best city in Canada.
As someone who grew up in Ottawa and moved to Toronto after University, I can tell you that you are spot on.
Just become and entrepreneur. Only way to make money, but it's a risk.
No bigger risk than working for someone else. You control your own destiny and no one is going to lay you off because of things outside of your control. The experience from being an entrepreneur is also better than an MBA, so it can help propel you into a better job anyway. Many companies are looking for people with an entrepreneurial spirit, but the problem is, most entrepreneurs don't want to work for someone else after they realize the freedom of working for themselves.
I do some mentoring and advising to young entrepreneurs, and there is no better path in life. You can also start a business in an industry you are passionate about, which only increases your chances of success.
? It depends on what industry, but there is usually a bigger risk.
No offense, but you are idealizing the life of the small business owner. I am one, and have done well, but hate it. It is very, very difficult to achieve any sense of work life balance. I am never not working. Even when I am "off-the-clock", my mind wanders and I begin assessing my business, and if I should be somewhere, at that momement, improving it.
There is a lot more stress involved. Cash flow can come in windfalls and droughts. In terms of money and pride, the highs are high and the lows are low. There is something to be said about getting a pay-cheque every two weeks and going home at 5pm.
If your personality and identity does not require you to achieve high sucess in your professional life, and other aspects of your life are as or more important, then get a job in the public sector.