Starting January 1, 2024, Canada is increasing the minimum cost of living financial requirement for students from 10,000 Canadian dollars to 20,635 Canadian dollars. This change aims to prevent students from facing financial hardship while studying in the country. The adjustment, however, raises concerns among Indian students, particularly those from Punjab, a significant portion of annual applicants for Canadian student visas.

Recent data reveals that immigrants accounted for almost all (98 percent) of the population growth between July 1, 2022, and July 1, 2023. Recognizing this, Canada has set ambitious immigration targets, aiming for nearly 500,000 immigrants annually from 2024 to 2026.

Top Ten Highest Paying Jobs in Canada for 2024

1. Medical Anesthesiologist

– Annual average base salary: $391,568

2. Cardiologist

– Annual average base salary: $386,757

3. Surgeon

– Annual average base salary: $378,634

4. Psychiatrist

– Annual average base salary: $333,976

5. Orthodontist

– Annual average base salary: $269,126

6. Controller

– Annual average base salary: $207,155

7. Cloud Architect

– Annual average base salary: $147,474

8. Software Engineering Manager

– Annual average base salary: $143,044

9. Data Scientist

– Annual average base salary: $134,960

10. Corporate Lawyer

– Annual average base salary: $109,631

These professions span various sectors, reflecting Canada’s diverse job landscape, with high-paying opportunities in healthcare, technology, finance, and law.

Members of the Montreal Youth Student Organization (MYSO) express concerns about the increased financial burden on international students. The organisation highlights the cumulative strain from various expenses, such as elevated IELTS examination costs, increased college fees, and high rental charges. The revised minimum security amount for student expenses may impede deserving students from pursuing education in Canada.

Drawing historical parallels, MYSO members note that governments tend to change rules based on convenience, citing a similar trend in 1908. In 2022, approximately 2.26 lakh Indians secured Canadian visas, with nearly 1.36 lakh being Punjabis. Over 3.5 lakh Punjabi students are currently enrolled in Canadian institutions, making a substantial impact on the demographic.

While Canada remains an attractive destination for high-paying jobs, changes in immigration regulations underscore the complex relationship between economic opportunities and the challenges faced by international students. The evolving landscape prompts discussions on balancing economic growth with inclusivity to ensure that Canada remains a welcoming hub for global talent.

Canada’s labour market, renowned for offering lucrative opportunities and career growth, consistently attracts international talent. Several factors contribute to Canada being among the best nations for employment opportunities, annual earnings, and career advancement for global graduates. These factors include political stability, robust economic growth, diverse immigration pathways, and a commitment to fostering innovation.