International students earning more than Canada-born grads at Top University
Economists at the University of Waterloo recently conducted a survey using data from the Immigration, Refugees and Citizenship Canada (IRCC) and the Canada Revenue Agency’s T1 income tax returns, revealing that international students in Canada are earning more than their Canadian-born counterparts. The study found that international graduates from 2017-2019 earned 37% more than Canadian-born graduates.
The average annual earnings for international graduates were $57,500 one year after graduation, while Canada-born graduates earned an average of $42,000. This trend continued at the national level, where the average earnings of international graduates were $56,400 compared to $38,700 for Canadian-born graduates, marking a 46% difference.
The survey also showed that foreign-born Canada Permanent Resident (PR) graduates earned approximately $120,000 on average 13 years after completing their studies, while Canada-born graduates earned between $100,000 and $120,000. This gap in earnings could be attributed to the rising economic returns on degrees in technology and engineering, fields where the University of Waterloo specializes.
Additionally, nearly 70% of international students at the University of Waterloo have acquired Canada PR, which is double the national average. This finding aligns with previous research suggesting that immigrants often experience better economic and educational outcomes than native-born citizens. These insights highlight the significant contribution of international graduates to Canada’s economy, particularly in high-demand fields like technology and engineering.
