International student graduates from the University of Waterloo are earning more than Canadian-born graduates, a recent study has found. Economists at the university analyzed student records, immigration data, and income tax returns to reach this conclusion.
The study revealed that international student graduates outearned Canadian-born graduates not only from the same university but also nationally. For instance, those who graduated between 2017-19 were making 37% more, with an average income of $57,500 one year after graduation compared to $42,000 for Canadian-born graduates.
The gap in median earnings between the two groups was even wider, with international graduates earning $56,400 versus $38,700 for Canadian-born graduates, a 46% difference. Over the course of 13 years, the salaries of international graduates continued to surpass those of Canadian-born graduates, with foreign-born permanent resident graduates earning around $120,000 and international students earning between $100,000-120,000 compared to $100,000 for Canadian-born graduates.
The study suggested that the higher earnings of international students could be linked to the economic benefits of degrees in technology and engineering, fields where many UWaterloo international students specialize. The university’s focus on these areas, along with its co-op program, has attracted a diverse group of students from around the world.
These findings align with previous research indicating that immigrants tend to have better educational and economic outcomes. A study by Statistics Canada showed that newcomers who arrived in Canada as children were more likely to pursue higher education and achieve median wages on par with or higher than Canadian tax filers in the same age group.
The study also highlighted that approximately 70% of international students at the University of Waterloo go on to become permanent residents, which is more than double the national average. This suggests that studying in Canada, particularly at institutions like the University of Waterloo, can lead to successful pathways to residency and higher earning potential for international students.
In conclusion, the study underscores the value of studying in Canada, especially in fields like technology and engineering, for international students looking to secure better economic opportunities and long-term success. The University of Waterloo’s reputation for excellence in these areas, coupled with its supportive programs, positions international graduates for prosperous careers in Canada.
