First, a similar disclaimer: I am from Toronto and a UofT student, although I have visited Montreal several times. Montreal certainly has a better reputation in terms culture and city life, which is well-earned. That isn't to say that Toronto is entirely boring as a city, there are theatrical productions, concerts, clubs, and all of the usual things that you would expect to find in a city. Montreal does tend to have more festivals and a more active night-life, though, in my experience.
I can't really comment on which one will make getting a job easier, although I know that McGill does have some provisions for learning French, which could be a plus depending on where you would like to work and what field you would like to go into. I am a bit skeptical of the idea that McGill has a better international reputation, though. I've spoken to people in Europe and professors in the UK who knew of both schools and seemed to regard them both quite well.
At the end of the day, both schools are good, and, at least in my experience, have fairly good international reputations, although Montreal is probably more exciting as far as city life goes.