Just how small is the business world in Toronto?
Very small. Find out why:
One student in the process of interviewing with a large Canadian bank (Bank #1) was also in the process with one of their competitors (Bank #2). Eager to speed up the process, he bluffed and told Bank #1 that he had a competing offer and wanted a reply asap.
Banker from Bank #1 calls up Banker from Bank #2 for a friendly round of "We're going to steal this guy away from you!". Cue confusion from the other side. Cue this guy getting booted out of the interview process from BOTH firms.
The consulting and banking world is VERY small. When consulting firms might have 10 people in a starting class at any given office, and when a bank may have just a couple, you get to know your colleagues very quickly (at your firm and at others). There's also a lot of cross-pollination - relationships among consultants at different firms, consultants moving from one firm to another, etc.
Remember that - it's also why you have to be on your best behaviour with all firms. Words spreads - quickly!