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Should I relocate before securing a job?

Hello, I am looking for some career advice. 

So my situation now: I passed CFA level III this June, and I have taken CPA final examination this September. The CPA mark will release at the end of November. I will be a CPA when I pass the exam.

I am located in a very small town in Canada, and I wish to relocate to Toronto (literally) very soon. I would love to switch career from purely accounting to finance to use the knowledge I have learned in CFA. However, there is no CFA networking opportunities in the small town, but I have not secured a job in Toronto yet (actively looking though). I found out it is very difficult to find job in new location and new career path without networking.

So my question is, should I relocate to Toronto to make networking before securing a job there? And do you have any website that you recommend that financial professional looking for job opportunities?

Thanks!

Do you live in Letterkenny?

Nope… Actually I have never heard of that place..

Sweep the Leg wrote:

Do you live in Letterkenny?

It’s difficult to assess as we do not know your situation, though you should ask yourself can you pay the bills in Toronto if you can’t find a job for, say 6 months.

I have left Toronto for many years now, but from what I have heard, it’s easier to look for contract/mat leave cover jobs first to land on your feet first.

LinkedIn. Efinancialcareers. I think the CAIA website has job postings as well.

I think your story would sound better (especially if you’re interviewing with finance/investment professionals) if it was “I live in a small town and am itching to relocate for a finance role” vs “I just relocated and am now networking and job searching so I can land this finance role”.

By the way, congratulations on passing all three levels of the CFA!

How far is your town away from Toronto? Do you live in south western Ontario, somewhere near Windsor? I’m sure you know but rents are super expensive.

I don’t think moving will affect your job prospects that much if you are clear that you’re not working and are ready to move at any opportunity. If you move now without a job, it could be months or over a year before you find a job. 

“Visit the Water Cooler forum on Analyst Forum. It is the best forum.”
- Everyone

you gotta be realistic but if you are young or have extra cash sitting around to support you for the next several months why not go move to Toronto. Network like a madman and make friends here and there. I would suggest getting a roommate next to U of T to increase your odds of rooming with young kids or young professionals. Sure it can be expensive but hey money comes and goes but your time is only running out. So go for it and explore. Be realistic but hopeful and optimistic and at the same time prepare for the worst.

Be yourself. The world worships the original.

Hey, thanks a lot for the comment! Unfortunately I am not the rich kid with extra cash, so I gotta be extra careful on the relocation issue. I am worry that because I am not personally in the area I want to settle with a job, my chance of networking and interviewing with potential recruiter is slim. However, a “out of job” status will not be good on my resume if I relocate to the new city without a job…

infinitybenzo wrote:

you gotta be realistic but if you are young or have extra cash sitting around to support you for the next several months why not go move to Toronto. Network like a madman and make friends here and there. I would suggest getting a roommate next to U of T to increase your odds of rooming with young kids or young professionals. Sure it can be expensive but hey money comes and goes but your time is only running out. So go for it and explore. Be realistic but hopeful and optimistic and at the same time prepare for the worst.

Thanks a lot, that’s a very realistic analysis. I am ready to move anytime for the job opportunity I want.

ohai wrote:

I don’t think moving will affect your job prospects that much if you are clear that you’re not working and are ready to move at any opportunity. If you move now without a job, it could be months or over a year before you find a job. 

I am way further.. I am located in Nova Scotia, which is why I hesitate on moving without a job offer, cause the opportunity cost of staying in Toronto can be huge…

hei.so wrote:

How far is your town away from Toronto? Do you live in south western Ontario, somewhere near Windsor? I’m sure you know but rents are super expensive.

You could also move to one of the ‘burbs in the Greater Toronto area. smiley

“Mmmmmm, something…” - H. Simpson

Good idea :)

breadmaker wrote:

You could also move to one of the ‘burbs in the Greater Toronto area. smiley

tamiesurok wrote:

Nope… Actually I have never heard of that place..

Sweep the Leg wrote:

Do you live in Letterkenny?

Are you a degen from up-country?

tamiesurok wrote:

I am way further.. I am located in Nova Scotia, which is why I hesitate on moving without a job offer, cause the opportunity cost of staying in Toronto can be huge…

hei.so wrote:

How far is your town away from Toronto? Do you live in south western Ontario, somewhere near Windsor? I’m sure you know but rents are super expensive.

Why don’t you just relocate to Halifax? With your CFA and CPA, I’m sure you could land a job at Deloitte or other bigger national firm - then relocate after a few years. What kinds of jobs are you interested in?

Thank you for your reply! I’ve been thinking about Halifax as well. Choosing to relocate to Toronto is more family-oriented decision, but if there’s good opportunities pop up in Halifax, I will think about working there short-term.

Mike79 wrote:

tamiesurok wrote:

I am way further.. I am located in Nova Scotia, which is why I hesitate on moving without a job offer, cause the opportunity cost of staying in Toronto can be huge…

hei.so wrote:

How far is your town away from Toronto? Do you live in south western Ontario, somewhere near Windsor? I’m sure you know but rents are super expensive.

Why don’t you just relocate to Halifax? With your CFA and CPA, I’m sure you could land a job at Deloitte or other bigger national firm - then relocate after a few years. What kinds of jobs are you interested in?