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Feels like the biggest problem is still the tech industry tbh (and by extension startups).
Canada lacks jobs because the growth profile of employers (large, established companies that grow slowly) doesn’t match the growth profile of the population (which expands quickly and needs more dynamicity). Likewise, Canada’s tech wages are low not because of low base salaries, but low stock compensation. This is inherently because the startup environment is not competitive enough for larger companies to have to compete with stock options. Comparing Google to Shopify again, a senior SWE makes 149k vs. 205k USD (difference being mostly the strong USD and weak CAD). However, while Shopify might give 20k in RSUs or other stock-based compensation, Google gives around 140k, increasing total compensation by more than 50%. That’s the difference. That’s always been the difference.
Today, Canada likely has one of the highest rates of poorly utilized skilled workers. In the US, that would translate into hundreds of startups trying to make it big. In Canada? It seems to translate into taxi drivers and real estate workers. That needs to change.
Feels like the biggest problem is still the tech industry tbh (and by extension startups).
Canada lacks jobs because the growth profile of employers (large, established companies that grow slowly) doesn’t match the growth profile of the population (which expands quickly and needs more dynamicity). Likewise, Canada’s tech wages are low not because of low base salaries, but low stock compensation. This is inherently because the startup environment is not competitive enough for larger companies to have to compete with stock options. Comparing Google to Shopify again, a senior SWE makes 149k vs. 205k USD (difference being mostly the strong USD and weak CAD). However, while Shopify might give 20k in RSUs or other stock-based compensation, Google gives around 140k, increasing total compensation by more than 50%. That’s the difference. That’s always been the difference.
Today, Canada likely has one of the highest rates of poorly utilized skilled workers. In the US, that would translate into hundreds of startups trying to make it big. In Canada? It seems to translate into taxi drivers and real estate workers. That needs to change.