Setteling in Canada-Need your kind advice/suggestions

[Ali Rizwan]

Hi every body,

I am a 38 years old male from Pakistan with a wife and 3 kids. We have got Landing permission and now I am thinking to move to Canada. Please allow me to tell you my background in details. I have 15+ years experience in banking industry (Corporate Banking + Planning) with one of the largets global bank. Currently I am on a management level position. The only reason for me & my wife to move to Canada is better furture for our kids in terms of education, security, social values etc. My wife is the stay at home mom so I will be the only person to work. I would appreciate if any one of you could give us thier opinion/suggestions/information on our decision to move to canada. Please note that I am assuming to start from scratch when we move there.

1) Banking Jobs in Canada (in terms of my brief resume above)& where, how difficult it is, do I need any certification? .
2) Tetative Salaray that I can earn even as a starter.
3) Schoole advice for my kids.

I am sorry for this long statement.

Godd bless you all.

Regards

 

[pk2ca]

Hi Rizwan
Congratulations on getting landing permissions. You are correct in assuming to start from scratch because it kind of is, literally. I am not into banking sector so can't comment on that but you can use a general approach to find out. Try searching for your desired role on a job site (Workopolis.ca, monster.ca) and see what qualifications they want for that role. From that you can decide what certification or equivalence you'll require.
Minimum legal salary for any job is 11.5$. Not sure what advice you are looking for regarding schools. If you mean school ranking than there are few website that rank schools based on different criteria. But you have to live in that area before you can admit the kids to that particular school and sometimes that is not very economically viable.

All the best

 

[newtone]

Read this post, some of your concerns have already been addressed:

http://www.canadavisa.com/canada-immigration-discussion-board/banking-job-in-canada-t237439.0.html

 

[Ali Rizwan]

Thanks alot pk2ca for your views and suggestion, thanks to noewtone for your reference.

Best regards

 

[Ali Rizwan]

What is the tax rate on salary or wages per hour?

 

[torontosm]

What is the tax rate on salary or wages per hour?

The tax rate will vary based upon your total income for the year. More details can be found here:

http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html

 

[jazibkg]

Sadly, Canada is a very conservative country when it comes to assessing foreign experience.

I had 2 years of banking experience from Barclays Bank in the UK, however HSBC Canada was the only bank which interviewed me. However I didn't make it (I was new to Canada and it didn't go very well). Canadian banks like Scotia, CIBC, TD, RBC just send rejection notes on applications.

Do you reckon you would be a potential employee for SMEs? Smaller companies may be willing to hire. That's where I got more interviews when I expanded my job search to smaller companies. I'm not working in the banking sector right now, but I am doing desk job in the billing/finance department of a relatively medium size company. This way I'm building my 'Canadian experience'.

You will have to broaden your job search. For me being in my mid-20s and less experienced, it was easier to get in. Everyone's situation is different. In Canada (as was in the UK), even higher managers in banking do most of their tasks themselves, even their own admin duties - are you well equipped in this matter? In Canada, its all about demonstrating one's competency and skills.


Your kids will also be getting Canada Child Tax Benefit (CCTB), you may be looking at around $300 per month per kid. However it depends how much income for the preceding 2 years you declare, its Pakistani income so I'm sure you could get somewhere that amount per kid. If any of your kids are under 6 years of age, they'll also be eligible for a $100/month UCCB (Universal Child Care Benefit). However, they'll assess it differently for everyone. In BC, some families may also get the BC Family Bonus. All these payments are combined into a single transaction/amount each month. Don't count on it though, it takes 3-6 months for the CRA to process these applications.

Have a look at these articles for the minimum wages in Canada, which differ by provinces:

http://en.wikipedia.org/wiki/Minimum_wage_in_Canada

And the simple tax calculator to see how much the take home income actually arrives at: https://simpletax.ca/calculator

For example, in BC, earning $10.25 minimum per hour and working full-time 40 hours per week, you'll arrive at a disposable income of around $1,600 per month. This is however a very generalized and positive estimate as many of the smaller companies do not offer 40 hour work weeks.

I hope I have answered your questions best as I could. I am from Pakistan myself and let me tell you from the start realistically, you must be willing for the culture shock of a foreign country (specially if you don't travel frequently to western countries and have little to no relatives there). A stay at home mother will feel much more than just culture shock.

 

[Ali Rizwan]

Thanks alot@jazibkg for you useful comments and information. I really appreciate it.

 

[jazibkg]

You're welcome and contact me anytime you need any help!

Its a big decision to leave one's homeland behind and always comes with a lot of implications, but its also a positive step in that its usually a good change.

Have you decided on a city yet?

 

[Ali Rizwan]

Yeah...to Edmonton....got some close relatives as well as good friends...will see if it works for my job...else will move..but guess it will still take some time.

 

[torontosm]

Yeah...to Edmonton....got some close relatives as well as good friends...will see if it works for my job...else will move..but guess it will still take some time.

Moving to Alberta is a smart decision as the economy there continues to be more resilient than in other provinces. It's not exactly a large financial center, but as someone else mentioned, you should be able to land a job in the finance department of an energy-related company fairly easily there. Good luck with the move!

 

[Ali Rizwan]

Will be lucky if I get a gob even in energy sector...been preparing myself mentally to change the field..banking WAS passion...lots of interactions wiyh the corporate world....frequent tours....meetings and trainings...but will have to confine myself ....I prsy this works for me....when I think of my kids education snd thier thier future...the decision seems worth take...now praying it works forme....Insha Allah it will...

 

[Rossei]

As others said, you will have to broaden your job search. Canada doesn't value foreign experience much. Mostly international companies here do such. Since you decided to land in Edmonton first; don't just limit your search within the city. The province of Alberta has probably the highest opportunities. It's also the head of oil & gas industries as well as booming in energy sectors. Try your luck in business/finance/accounting sections of these. Before applying, familiarize with Canadian style of resumes, cover letter, company info/history etc.

FYI, I work in power/energy field in Ontario.

 

[Ali Rizwan]

Thanks@ Rossei ...will keep your suggestions in mind when I reach there...Regards

 

[Ali Rizwan]

One more thing guys....will appreciate your guidance....what is the minimum amount required to star a small business....any idea ..suggestion...discussion.....will be gratful....