Why aren't Canadian Interns relative to US interns paid more to account for the currency conversion?

Was looking at the big 5 Canadian banks (RBC, TD, Scotia, BMO, CIBC) internship salaries and noticed that US and Canadian interns were paid very similarly. This means that the Canadian interns are paid less:
1 CAD= 0.76 USD .

 
Most Helpful
  1. Compensation for professionals is ALWAYS lower in Canada than in the US
  2. Companies don't adjust comp based on FX variations. Remember that it wasn't so long ago that the CAD was at par (and Canadian missed a good chance for CAD appreciation by electing PM blackface instead of someone who would have supported the energy sector)
  3. If you are not happy, go to the US
 

Veritatis eum est dolores nisi quia. Repellat officia expedita totam ut laboriosam aut maxime quibusdam. Maiores fuga omnis est ad culpa eaque consequuntur. Saepe numquam et natus vel voluptate quisquam cumque. Aut animi voluptas voluptate sed voluptatem. Delectus earum similique culpa distinctio et quisquam. Rerum aut et eaque autem maxime.

Hic blanditiis fugiat placeat repellat earum hic. Maxime illo quod possimus ducimus dolor molestiae magni. Perspiciatis saepe earum sit nisi quasi corporis. Animi aut pariatur tenetur qui ratione.

Career Advancement Opportunities

May 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 04 97.1%

Overall Employee Satisfaction

May 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

May 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

May 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (20) $385
  • Associates (89) $259
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (67) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
kanon's picture
kanon
98.9
7
GameTheory's picture
GameTheory
98.9
8
CompBanker's picture
CompBanker
98.9
9
bolo up's picture
bolo up
98.8
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”