100k more for a new grad? That can't be right. Five years back, the new grad offer was 90k, plus 45k of stock over four years. If they're up that much, things must be getting desperate.
I moved to the Toronto office not long after I joined, and that office existed for similar reasons. Lots of talent, but generally low wages in the city. Made recruiting easy- they went from 25 people five years ago to 500+ today.