FSW WORLDWIDE

[GandiBaat]

On another note, what are the chances we see an Armenian Refugee Pathway? Will they have the same benefits as Ukrainians for being pseudo European and Christian or are they too tanned for that

Canadian grace is waning and now there is a growing resentment about this ongoing war and Ukraine's incessant need for money or weapons. Another group of refugees of whatever kind will be the proverbial straw that broke the camel's back.

 

[GandiBaat]

The purpose of the link was growing disenchantment towards immigration in Canada. Other subreddits include r/canada and historically left leaning ones are now openly anti immigration, something that would've been an instant-ban in the past. The question regarding productivity/mobility/justification of immigrants taking jobs over Canadians could be true or false depending on the situation but it is also not a secret that immigrants are willing to work for less. Outside of FAANG, tech salaries are heavily depressed in Canada. Even Big4 salaries are pathetic but because there's so much surplus of people wanting to work their for the 'prestige', they can massively underpay

I am hearing it completely different from my friend who is job hunting these days. Salaries offered are good. Though expectation these days are that you will work from premise instead of home. This has been the sticking point for him for he is a manager and he does not want to work outside of Victoria due to his family reasons. To be honest, he did not even apply to "big4" because most of the positions in big4 are ... well.... not really good to say the least. Best thing one can do is to seek american companies hiring in Canada. True blue canadian employers are a little weird.

 

[iSaidGoodDay]

I am hearing it completely different from my friend who is job hunting these days. Salaries offered are good. Though expectation these days are that you will work from premise instead of home. This has been the sticking point for him for he is a manager and he does not want to work outside of Victoria due to his family reasons. To be honest, he did not even apply to "big4" because most of the positions in big4 are ... well.... not really good to say the least. Best thing one can do is to seek american companies hiring in Canada. True blue canadian employers are a little weird.

We had a quarterly meeting with finance last month, we will be offering 10% higher comps starting March 2024 to stay competitive in the job market. Things are improving now.

 

[Impatient Dankaroo]

I am hearing it completely different from my friend who is job hunting these days. Salaries offered are good. Though expectation these days are that you will work from premise instead of home. This has been the sticking point for him for he is a manager and he does not want to work outside of Victoria due to his family reasons. To be honest, he did not even apply to "big4" because most of the positions in big4 are ... well.... not really good to say the least. Best thing one can do is to seek american companies hiring in Canada. True blue canadian employers are a little weird.

Are you and @iSaidGoodDay both working for US companies/teams?

 

[Lord_Tony]

We had a quarterly meeting with finance last month, we will be offering 10% higher comps starting March 2024 to stay competitive in the job market. Things are improving now.

Wow 10% is awesome for Canada, I assume it will be more for promotions and less for regular ratings
Usually isn't the HR trend to give the largest raises to the highest performers in the appraisal bell curve

 

[iSaidGoodDay]

Are you and @iSaidGoodDay both working for US companies/teams?

My HQ is California. But in general, things are improving. VC funds are stronger this quarter too, we now have LPs that are willing to invest in high risk, zero revenue, and no past exit founder/startups. This hasn't been the case from a long time now. Most VCs were preferring revenue generating startups(specifically in companies that had a justified net revenue retention), a minimum 15% equity at low seed stage funds, with a guaranteed seat on the board in 2022. Right now, we are seeing funding deals with less and less constraints, which would likely improve the job market.

 

[abhiram.kumar]

The purpose of the link was growing disenchantment towards immigration in Canada. Other subreddits include r/canada and historically left leaning ones are now openly anti immigration, something that would've been an instant-ban in the past. The question regarding productivity/mobility/justification of immigrants taking jobs over Canadians could be true or false depending on the situation but it is also not a secret that immigrants are willing to work for less. Outside of FAANG, tech salaries are heavily depressed in Canada. Even Big4 salaries are pathetic but because there's so much surplus of people wanting to work their for the 'prestige', they can massively underpay

This is mostly the case for the low wage jobs and it’s not new immigrants who are displacing Canadian born workers and other immigrants, it’s international students and temporary migrants. The main issue right now is that temporary migrants and international students are displacing new immigrants and Canadians from jobs and housing. Temporary migrants are now bigger than the indigenous population of Canada, which is crazy. No one knows why the government is doing this because this isn’t going to bring any prosperity to Canada nor does it provide more tax revenue. Most of the international students are working in minimum wage jobs and pay the least amounts of taxes.

 

[iSaidGoodDay]

Wow 10% is awesome for Canada, I assume it will be more for promotions and less for regular ratings
Usually isn't the HR trend to give the largest raises to the highest performers in the appraisal bell curve

We are in a unique position too. If the job market goes down, our consumer products take off as job seekers need our products. If the job market goes up, our B2B products generate more revenue. We have a very well managed revenue liquidity.

My take was on 2024 comps for net new hires though, not internal employee raises. Raises is something that I find very hard to deal with, my org has retention, employee index goals with HR and it often can get very conflicting to get the right raises to prevent churn. We had an employee leave last year when they were clearly amazing, deserved a nice raise, but our HR goals were all green on dashboards, so a request for higher comp was denied because if this person churned it still won't push retention numbers to "At risk" (which is where I can actually intervene).

 

[Impatient Dankaroo]

This is mostly the case for the low wage jobs and it’s not new immigrants who are displacing Canadian born workers and other immigrants, it’s international students and temporary migrants. The main issue right now is that temporary migrants and international students are displacing new immigrants and Canadians from jobs and housing. Temporary migrants are now bigger than the indigenous population of Canada, which is crazy. No one knows why the government is doing this because this isn’t going to bring any prosperity to Canada nor does it provide more tax revenue. Most of the international students are working in minimum wage jobs and pay the least amounts of taxes.

Things that really piss me off:
1. Diploma mills
2. You can get CEC points for being a manager at Tim Hortons and other restaurants
3. Widespread abuse of LMIA
4. Noone is being deported for overstating

 

[abhiram.kumar]

Things that really piss me off:
1. Diploma mills
2. You can get CEC points for being a manager at Tim Hortons and other restaurants
3. Widespread abuse of LMIA
4. Noone is being deported for overstating

I mean with the introduction of the category based draws, you’re going to eliminate 3 and 2. The cut off score for general draws is so high, I’m not sure how much a LMIA will help. I’m also not sure about what the government intends to do with 2.2 million temporary migrants. Many of them will have to go back or serve the underground economy as undocumented workers. It’s going to be painful for them as there’s no joy living undocumented in Canada. You’re cut off from all services and there’s absolutely no way you’re going to have a better life working 4 dollar per hour cash jobs. It’s also logistically impossible for Canada to send all 2.2 million people back if all of them overstay. CBSA doesn’t have the resources to do so. They cannot deport millions of undocumented workers in the US, what makes you think Canada can do the same? They will have to leave voluntarily.

 

[Lord_Tony]

We are in a unique position too. If the job market goes down, our consumer products take off as job seekers need our products. If the job market goes up, our B2B products generate more revenue. We have a very well managed revenue liquidity.

My take was on 2024 comps for net new hires though, not internal employee raises. Raises is something that I find very hard to deal with, my org has retention, employee index goals with HR and it often can get very conflicting to get the right raises to prevent churn. We had an employee leave last year when they were clearly amazing, deserved a nice raise, but our HR goals were all green on dashboards, so a request for higher comp was denied because if this person churned it still won't push retention numbers to "At risk" (which is where I can actually intervene).

Ah sounds like Liquor , Seagram would be my guess. I'm not sure how your Industry works, in the technology consulting industry even though we set a budget for the roles the candidate and niche nature of the skills/experience often lead to a demand for higher pay which goes for specific approvals, new recruits often or always get higher pay unless the candidate is dumb who most companies won't take.

 

[iSaidGoodDay]

Ah sounds like Liquor , Seagram would be my guess. I'm not sure how your Industry works, in the technology consulting industry even though we set a budget for the roles the candidate and niche nature of the skills/experience often lead to a demand for higher pay which goes for specific approvals, new recruits often or always get higher pay unless the candidate is dumb who most companies won't take.

Changing companies almost always leads to higher comps. It does hurt someone's chances in the long run though. A general rule of thumb for anyone > 10 years of exp is to see the next role as a $1-2 mil net output in 3-4 years. Job hopping puts more cash in hand, but keeps the pay linear for a very long time with the risk that it will plateau prematurely.

The way I personally structure my own comp is:
1. base salary
2. bonus structures
3. signing bonus
4. accelerators/kickers - anything not covered by bonus structures
5. stock options and RSUs
6. time-based-comp increases
7. exit/severance packages
8. milestone payments - for milestones like IPO or new LoB reaching a certain high
9. funding participation - doesn't apply well to F500, but with Series B/Series B+ high growth companies where I'll be allowed to participate in funding

The idea here is to never lose by picking a job and always walk out a winner. For example, did #9 six years ago with my CEO and we got acquired by Amazon - best investment ever!

 

[Impatient Dankaroo]

Changing companies almost always leads to higher comps. It does hurt someone's chances in the long run though. A general rule of thumb for anyone > 10 years of exp is to see the next role as a $1-2 mil net output in 3-4 years. Job hopping puts more cash in hand, but keeps the pay linear for a very long time with the risk that it will plateau prematurely.

The way I personally structure my own comp is:
1. base salary
2. bonus structures
3. signing bonus
4. accelerators/kickers - anything not covered by bonus structures
5. stock options and RSUs
6. time-based-comp increases
7. exit/severance packages
8. milestone payments - for milestones like IPO or new LoB reaching a certain high
9. funding participation - doesn't apply well to F500, but with Series B/Series B+ high growth companies where I'll be allowed to participate in funding

The idea here is to never lose by picking a job and always walk out a winner. For example, did #9 six years ago with my CEO and we got acquired by Amazon - best investment ever!

Is it good to job-hop if you have 3-5years of exp?

 

[GandiBaat]

Are you and @iSaidGoodDay both working for US companies/teams?

I am working for a US company. My "org" or "department" is spread across India, Canada, US and UK. Like typically it happens in any big organization. My team works out of Vancouver.

 

[henryle2802]

Results: Rounds of invitations
Ministerial Instructions respecting invitations to apply for permanent residence under the Express Entry system #266– September 27, 2023

See full text of Ministerial Instruction

French language proficiency (2023-1)

Number of invitations issued: 500Footnote*

Rank required to be invited to apply: 500 or above

Date and time of round: September 27, 2023 at 14:17:04 UTC

CRS score of lowest-ranked candidate invited: 472

Tie-breaking rule: August 16, 2023 at 09:00:14 UTC

Can anyone please explain to me why they always emphasize STEM category with impressive high ITAs number but in reality, the most ITAs category is French? Even healthcare does not have that much ITAs.