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 .

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2 Comments

mtnmmnn

PE

6y

Most Helpful

Compensation for professionals is ALWAYS lower in Canada than in the US
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)
If you are not happy, go to the US

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Authored by: Certified Private Equity Professional - PrincipalCertified Private Equity Pro

CB

Analyst 2 in CB

6y

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Authored by: Certified Commercial Banking Professional - 2nd Year AnalystCertified Commercial Banking Pro

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

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

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