Embracing the Unknown: Understanding the Risks and Opportunities in Immigration

I recently shared a Bloomberg podcast with a client discussing Canada's substantial increase in immigrant admissions, an initiative aimed at boosting both its economy and population.

While the podcast explores Canada's system of recognizing education levels and skills for the purpose of awarding points towards permanent residency, it also uncovers a paradox. Once individuals arrive in Canada, their credentials often face significant barriers to recognition, resulting in professionals, such as doctors and nurses, working in fields they're overqualified for, or even being unable to practice their professions.

The podcast left my client deeply concerned, prompting her to write:

“This is actually really concerning, it leaves a feeling of taking such a big risk for a potentially hopeless situation.”

In response, I emphasized several key points to offer a more balanced perspective on immigration.

1) Success Beyond the Headlines: News often zeroes in on the most dramatic narratives, overlooking successful professionals who have relocated and are now leading prosperous, stable lives. For instance, a family I assisted in immigrating six months ago are flourishing: the wife, initially jobless, now occupies a senior position at a bank. Stories of success might not be as newsworthy but are certainly worth highlighting.

2) Risks of Not Immigrating: While unsuccessful immigration holds risks, the risk of not attempting to immigrate at all must be considered. With stricter immigration requirements and potential currency depreciation, the risk associated with staying put could potentially outweigh the risk of moving.

3) The Power of Connections: Social connections often pave the way for initial opportunities. Having local advocates in the new country can be instrumental in securing that first job or opportunity. Lack of a local network often makes the quest for employment significantly more challenging for immigrants.

4) Industry Considerations: Your field of work can play a significant role in your immigration experience. If you work in a highly regulated field, you might need to requalify in your new country, an important consideration when choosing a destination, especially for those in high-demand professions.

Understanding the potential hurdles and opportunities is critical for anyone considering immigration. While there are risks and challenges, many professionals have successfully built new lives in their adopted homes. These untold success stories offer a ray of hope to those considering this significant life change.