New immigrants who relocate to Canada via an Express Entry-managed program experience a significant and rapid increase in their median job earnings during their first five years in Canada, a promising sign for the program’s economic prospects.
This is based on the 2023 Year End Express Entry account, a comprehensive report compiled by the Immigration, Refugee, and Citizenship Canada (IRCC) that provides detailed information about the economic outcomes of immigrants who arrived in Canada through the Express Entry program. The IRCC attached information that indicates the median earning of new immigrants via an express entry supervised program is more than that of Canadian-borns. The information examines the median job results of Express Entry applicants accepted between 2016 and 2021.
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Incomes Steadily Increasing
Since its establishment in 2015, Express Entry applicants have consistently seen positive long-term financial results, providing reassurance about the program’s long-term financial benefits.
For instance, the 2023 account discovered that people accepted in 2016 had median job incomes of $58,400 in 2017, rising to $76,800 in 2021, five years after arrival. It also pointed out that new immigrants accepted in 2018 earned a median of $55,200 in their first 12 months, which increased to $70,800 three years after acceptance. This demonstrates that incomes for new immigrants grew very fast.
The median job earnings for Canadians remained comparatively similar throughout all five years and were notably reduced, beginning at $38,006 in 2017 and increasing to just $40,870 in 2021.
Usually, new immigrants who landed via a national high-experienced worker program, which includes the ones supervised by Express Entry, are well-fitted to satisfy the requirements of Canada’s labor market. They are requested to apply for permanent resident status depending on the Comprehensive Ranking System score. This point-based system assesses applicants’ in-demand human capital qualities such as language, capacity, employment skills, professions, age, and education. Immigration, Refugee, and Citizenship Canada sees people with the highest Comprehensive Ranking System points as the most likely to get merged into the Canadian economy successfully.
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In 2023, Immigration, Refugee, and Citizenship Canada (IRCC) took this notion a step ahead by presenting category-based selection rounds of requests. In these draws, Express Entry applicants are requested depending on a particular quality, usually their employment skill, instead of a total high CRS point. Information on the financial results of these new immigrants has yet to be obtainable.
In comparison, economic immigrants are accepted to Canada via a non-Express Entry aligned stream of a provincial Nominee Program that tries to reduce median incomes. The reports state that the median job incomes for Provincial Nominee Program acceptance cohorts ranged between the middle $40,000 to the lesser $50,000 12 months after acceptance between the acceptance cohorts.
Additional Scoring Aspects Have Little Effect On Earning
The report states that additional aspects attached to an Express Entry request can affect median earnings. Hence, depending on the information from the report, the outcomes indicate that additional scoring aspects do not relevantly lead to increased median earnings two to three years after acceptance unless applicants possess the highest feasible points for these qualities.
For instance, it was discovered that candidates accepted into Canada in 2019 with a three-year or more post-secondary certificate from a Canadian university had slightly higher median job incomes than those without a Canadian post-secondary certificate.
On the contrary, people accepted in 2019 with a 12 – 24 months post-secondary Canadian certificate had a median earning less than those without post-secondary academics in Canada.
The same was ideal for people with siblings in Canada. The median income 24 months after arriving for people who landed in 2019 was $53,100 for people with a Canadian or permanent resident sibling versus $61,200 for those without.
The arranged job was the only additional scoring aspect demonstrating higher median earnings. Hence, the level of earning was also discovered to be based on the kind of job. People with a pre-arranged employment offer in a senior management position who landed in Canada between 2017 and 2019 all possessed median earnings surpassing $200,000 24 months after arrival.
People with pre-arranged jobs in other professions were also discovered to have higher median results than those without. For instance, people who landed in 2018 with an ‘other’ employment offer, which could include a wide range of professions from the service industry to technical roles, had median earnings of $84,500. In contrast, people without an arranged job reported a median earning of $60,700.
