Canadian to American Compensation/Issues
Hey WSO - I currently work in Canada but am in the final round for three American roles (1 of which an offer has already come through for, the other two seem likely); however, I have two difficulties I am trying to figure out.
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Compensation: How should I go about negotiating with the CAD/USD conversion in consideration. Should I be viewing the conversion strictly at 1.28 USD/CAD? Let's say my desired compensation is 250k CAD; should I be requesting 195k USD? Or closer to the 250k mark in USD? The reason I ask is because a relative of mine stated that once they moved to the states, they felt as if the money only truly felt like it was worth more when he went back to Canada, but while he was in the states he felt as if the CoL/living expenses gradually made it feel the same as if he received the same amount in Canadian.
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Border Issues: Multiple of the firms I am interviewing with have already communicated with me the issues they have been having at the border with TN visas, and how multiple candidates have been denied at the border as of late. Given this, should I delay quitting my actual firm until approved at the border? It would prevent me from providing them two weeks of notice, and would likely burn some bridges at the firm, but I am low on liquidity at the moment so I would be unable to support myself through multiple months of unemployment in the event that I got rejected at the border and then ended up having no job.
Any advice on either is welcome and appreciated!
On point 1, the conversion has no bearing on local compensation. You are paid whatever the local rate for that role is. Point 2, I agree you should not give notice until you are across the border
First, thank you for your response. Second, on point 1, I meant if I am targeting 250k CAD in total compensation, should I be requesting 195k USD, or more given increases in CoL/expenses in the states. Some of my relatives that have made the switch are suggesting to request closer to 250k USD (essentially ignoring the conversion rate). On point 2, I am glad you agree - it feels as if that is the safest/most necessary solution.
I mean you should target whatever the market rate for the role is - the conversion rate should not come into the picture (assuming you are living in the US city the role is located in). If the market rate for whatever role you are looking at is US$250k, then ask for that
Yes, exactly. Entirely confused as to why you'd calibrate to CAD at all, given your employer will give zero thought to what the conversion ratio is. Whether it's 1.2 or 1.5, they're paying you the same amount in USD. You should find out what the market amount is for the role in the US and ask for that.
I completely understand where you both are coming from in regards to researching the market amount for the position (which I have done and is what I am asking for); however, when setting my own floor mentally, I wanted to know what an accurate conversion would be so I can go into these negotiations knowing the absolute floor as to what I would be willing to accept. That is all!
You should be able to pre-apply for the TN visa. I obtained my visa via a pre-approval before I crossed the border and quit my previous job
Agree with this comment. I have some notes on USCIS pre-approval from a prior post that might be helpful:
https://www.wallstreetoasis.com/forum/investment-banking/ibd-barriers-t…
Side note - currently, anything "immigration" related is a bit of a cluster f right now. It was always tough, but there are huge amounts of back log etc. (this will affect your pre-approval).
Also, agree with the comments above re: market rates. The comp will be what it is (likely in your favor relative to Canada). Factors like local COL are more relevent for your own budgeting and financial planning exercise.
Welcome to the US!
Don’t quit your job before making sure you can cross the border with the TN visa and it’s all good. Some others mentioned pre-approval (that’s new to me, so thank you to the posters - I’ll read up).
if you don’t mind disclosing (or sharing in PM) I’d be interested in hearing how you’ve been looking at US firms / roles. I’m looking to do the same thing (I want to look at US-based VC/growth equity funds, or potentially some select startups/tech firms). I’m curious how you started those discussions and how open the firms are hiring Canadians these days.
(I’ve worked in the US before, but it’s been awhile).
Sure! Unfortunately, none of my advice here is very valuable.
Role 1: I applied to GS/MS/CS through an online application and have somehow made it to the final two for the role (I don't have much advice to provide on this one outside of saying that blindly applying online isn't as bad as everyone says it is). Everyone from HR to their team lead were very open to bringing over a Canadian (they didn't really view it as an issue at all).
Role 2: I began looking for firms that had a history of bringing over Canadians with similar backgrounds, this consulting firm had numerous, so I blindly applied online again and have received an offer already.
Role 3: Two of my former colleagues had been brought down to the US via TN visas (Consultant Occupational Category) with this firm, so I directly reached out to both my colleagues and both passed me directly to the head of the group I wanted to interview with. I likely will receive an offer from this firm as well!
TLDR: EasyApply's on LinkedIn almost never work; however, blindly applying online through companies' websites has been getting me to final round interviews repeatedly. Other than that, I leaned on my network!
TN Visa absolutely sucks. Zero path to a green card. Be sure your firm is on board with helping you with the H1B lottery as soon as you arrive.
Best way into the U.S. is to work for a U.S. firms Canadian subsidiary for a year and then transfer over with the L visa.
I used to think the same thing (about TN path to green card) and I've been told by my immigration lawyers this is actually incorrect (I had several TNs, H1B, now GC and working on citizenship). Apparently, you can still get a greencard on TN, but there is a period during the application process where you can't travel. As always, consult with your lawyer.
On that note, I would highly recommend speaking to Cummings and Partners (https://canada-usa.com/home-page/about-us/). They are a cross border law firm that is one of the best for helping Canadians immigrate (I used them for everything and the were PHENOMINAL). They run an annual session on immigration through the Canadian Association of New York (CANY) - https://www.canadanyc.com/. Their sessions are usually "sold out" (it's free, but fills up super fast). They are usually run earlier in the year (January).
L Visa is a great path also. I mention TN, H1B and L in the post I referenced above. Each path has pros and cons. Other path I since learned about is the O or "Outstanding" visa. Usually reserved for celebrities - but if you are published (not sure if ER counts) it could apply to you also. The bar is not as high as you might think.
TN, O, and H1B - your wife can't work if she goes down to the U.S. with you, she would need her own visa.
L Visa gives you three years to work AND your wife to work under your visa as well. Way better.
You seem to be in the know on this stuff. Have you changed jobs while in the U.S.? Currently on a H1B and thinking about job hopping
I was in a situation where I wasn't earning enough money to support both my wife and myself and one kid alone - I needed her to work.
That being said, the best option for me was the L visa. I worked for a large U.S. PE firm in their Canada office for a year and then transferred to their U.S. main office under the L. This gave my wife the ability to work for 3 years under my visa. I made it clear to the company that they had to support me on the path to a green card, which they did.
I see the TN as a total dead end. Great if you want to get some u.s. work experience from top names but don't expect them to help you stay for long. You'll be rolling the TN as much as you can until the govt kicks you out.
It's a garbage system. Canada lets in everyone but the U.S. turns away skilled labor.
L is the way. Or TN + marry an American lol.
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