Ottawa has high-paying jobs, but it is nothing like the GTA for number of jobs available. (having just left there after 25 years). If you are fluently bilingual and have worked for a gov't, or if you work in high-tech, you have a better chance of landing decent work in Ottawa. While you would have a higher income, the resale housing market is terrible and has been for a decade. The equity in your house would fall dramatically from Toronto. Ottawa is often seen as boring, and that's no lie. It is boring. Calgary is losing jobs due to the oil crash. 
There is no perfect place to live, so it comes down to where you really want to live.