Maple News reports that international students graduating from the University of Waterloo are earning significantly more than their Canadian-born counterparts—both within the university and across Canada—according to a newly published study by university researchers.
Using a combination of academic records, immigration data from Immigration, Refugees and Citizenship Canada (IRCC), and income tax filings from the Canada Revenue Agency (CRA), the study analyzed the long-term earnings of graduates across several years. It found that international graduates who completed their studies between 2017 and 2019 earned, on average, $57,500 in their first year post-graduation. By contrast, Canadian-born graduates from the same period earned roughly $42,000, marking a 37% income advantage for internationally educated students.
Even more striking is the difference in median earnings: international grads earned a median salary of $56,400 one year after finishing their degrees, compared to just $38,700 for Canadian-born peers—a 46% variance.
These earnings gaps extend well into the long term. Thirteen years post-graduation, the study found that internationally educated permanent residents earned nearly $120,000 on average. In contrast, Canadian-born graduates saw their earnings plateau around $100,000 to $105,000.
Researchers suggest one major factor behind these differences is program selection. A large share of international students enrol in high-demand, high-paying fields such as technology and engineering—areas in which the University of Waterloo has built a strong global reputation. The university’s acclaimed co-operative education (co-op) program, which allows students to gain work experience during their studies, is also believed to play a role in enhancing employability and salary outcomes.
The University of Waterloo is one of Canada’s top institutions for STEM (science, technology, engineering, and mathematics) education and recently ranked 115th in the QS World University Rankings 2025, placing it among the top five Canadian universities on the list.
These findings shed light on how skilled international graduates can thrive economically in Canada, even outperforming local peers in certain areas. With Canada relying on international students as a pipeline for future skilled immigrants and workers, the results underline the value these individuals bring to the Canadian economy.
As global competition for talent intensifies, the success of Waterloo’s international alumni may serve as a strong case for why Canada remains a preferred destination for students pursuing high-growth careers.