The US is a destination of choice for many Canadian lawyers, with particular attention given to New York.
Besides the fact that New York is the largest financial and legal centre in the world, with all significant US firms based there, there are many other reasons to make the move.
"I love New York. It is a fantastic city with an unrivalled, unique vibrancy full of attractions, with opportunities for both career and personal development abound."
The city is an incredible place to live and a hub for many different industries, including finance, real estate, the arts, and a recent tech boom, that has also spilled into technology for legal services.
Living in New York
New York is a fantastic city with an unrivalled, unique vibrancy full of endless attractions. Known as the “city that never sleeps,” more people live here than any other city in America—8.5 million of them, in fact.
Nearly half of the city’s population is made up of people who were born not just outside of the city, but also outside of the United States. It’s truly a melting pot of different nationalities and cultures.
New York’s communities are as diverse as its people, from Greenwich Village in downtown to Harlem in uptown. Beyond Manhattan, the city has four additional boroughs: Queens, which has a long history of fabulous immigrant food; Brooklyn and its thriving literary and arts scene; the Bronx and its abundant green space and wildlife; and Staten Island with its lovely coastline.
New York truly lives up to it’s nickname. Bars are legally permitted to open at 7 a.m. and close at 4 a.m, you can pick up a bite anytime of the day, and are never far from a 24hour supermarket.
Things to do
There are endless things to do in New York. Dining out will always be at the top of my list, from NYC classics, such as pizza and bagels, to local favourites, including falafel and BEC sandwiches, to some of the best fine-dining experiences the world has to offer. I would recommend New York simply for its food scene alone!
When not deciding where to eat you can check out a Broadway show or see an experimental theatre on the Lower East Side. Musicians play nightly at stadiums (Madison Square Garden, Barclays Center), and sports fans will be in their element. There is baseball (Yankees and Mets), basketball (Knicks and Nets), football (Giants and Jets), hockey (Rangers, Devils and Islanders), soccer (Red Bulls and New York City FC), the US Open Tennis and the New York Marathon!
There is also so much more to the city than the typical tourist destinations. Spend some time in the outer boroughs—in places like Staten Island’s Little Sri Lanka, located around Tompkinsville and Stapleton; or Forest Hills —and you’ll hardly believe you’re in New York City at all.
Cost of Living
New York is an expensive city. In fact, it is generally considered the most costly place to live in America. However, with this said, your salary as a lawyer would be up to 98% more (double your base salary) than that at a firm in Canada – therefore, it is all relative, especially when you consider your sign-on bonus, full relocation package and end of year bonus.
To put into perspective the cost differences from living in Ottawa to Canada, I have listed some stats below:
- Consumer Prices in New York, NY are 34.65% higher than in Ottawa (without rent)
- Consumer Prices, including Rent in New York, NY are 69.22% higher than in Ottawa.
- Rent Prices in New York, NY are 141.31% higher than in Ottawa
- Restaurant Prices in New York, NY are 34.12% higher than in Ottawa
- Groceries Prices in New York, NY are 38.97% higher than in Ottawa
Around two-thirds of New Yorkers rent their homes, and renters across all boroughs on average spend around 30% of their income on housing costs. See average rental costs below, collected from Expatistan data.
Housing prices decline the further from Manhattan you travel. Therefore, you can expect prices in neighbourhoods like Brooklyn and Long Island City (Queens), just across the river from Manhattan, to be displayed higher in the data than the averages for their boroughs.
With this said, living in New York City doesn’t have to be expensive, especially if you are a single lawyer more interested in experiencing the thrill of the city rather than having a luxury apartment.
Co-living with roommates allows you to spend significantly less than the average cost of solo housing. For example, Bungalow’s average price for a private room in a shared home in NYC is half the rent of an average studio apartment in the same neighbourhood – so it’s definitely worth checking out.
Market Intel
Big law firms in New York tend to recruit lateral talent locally in New York in the first instance; however, this talent pool is extremely competitive, factoring in the lockstep salary system. As a result, Canadian lawyers are extremely attractive to the US’s Am Law 200 law firms. In addition, the legal education and training they receive from Canadian law firms is highly regarded, and they are one of the few countries in the world with a seamless visa process for entering the United States.
The legal market in the U.S. is in great shape. There will be obstacles to consider and overcome when making a move to New York; however, as a company, we have made successful placements in the U.S. and New York, with the process as a whole running smoothly. Therefore, if you are a transactional lawyer thinking about calling New York home in 2021, there potentially has never been a better time.
Practice Areas in High Demand
- Corporate M&A
- Capital Markets
- Finance
- Funds
- Private Equity
- Projects
Working as a Canadian Lawyer
The big drawcard to New York is the salary on offer by the elite US law firms, which operate on a lockstep system different from the other major markets worldwide. As an example, the starting salary at an Am Law 200 firm in the US for a first-year associate is $205,000 USD, whereas, across the major Canadian firms north of the border, 1st year associates earn 120,000 CAD/ (Roughly $95,104 USD).
Obtaining a role as a lawyer within a high profile law firm is highly competitive – you are up against top tier lawyers from all over the world. Being invited in for a round of interviews by a New York firm is an accomplishment in its own right. The experiences and quality of work Canadian lawyers will receive here is second to none.
Five facts about New York
- The New York public library has over 50 million books
- More than 800 languages are spoken in New York
- Brooklyn Bridge is older than Tower Bridge in London
- New York City’s Federal Reserve Bank has the largest gold storage in the world
- The ice cream cone, pasta primavera, and eggs Benedict were all invented in New York City
If you’re a Canadian lawyer and dream of making a move to New York, we would strongly recommend that you get the process started sooner rather than later.
Our specialist consultants will guide you on every step of your journey, from the initial phase of placing your CV in front of respective firms in New York, to the final steps, discussing the logistics of the move and ensuring the transition runs smoothly. Any questions, just ask! For career advice, get in touch on: info@sonderconsultants.com
