American Tech Companies Offer Jobs Abroad

Tech Embraces Remote

One of the most significant ways the pandemic changed people’s lives is the shift to working from home. The remote-work trend has been particularly strong in tech. In February of this year more than 20% of jobs in technology were remote, compared to just about 4% in January 2020. It seems the pandemic-forced experiment proved remote work didn’t harm productivity.

The tech industry’s 1.3% unemployment rate is a fraction of that for the US in general. Amid the labor shortage, the expanded pool of potential workers provided by geographic diversity may have helped a bit. But many industry leaders say that’s not enough.

Shortage of Skilled Workers

The US government puts a limit on the number of skilled workers that can receive workers’ visas. Its H1-B program provides visas to 65,000 skilled workers and offers an extra 20,000 for those who earned graduate degrees from American universities. Tech companies, industry lobbyists, and some politicians have pushed to increase the ceiling, noting the immigration limits have remained unchanged since 2005. Meanwhile, the shortage of technology professionals persists.

Some companies are finding a solution by looking beyond the US.

Jobs Located Abroad

Canada is a popular source of skilled workers. Unlike the US, the neighbor to the north has rolled out the welcome mat to tech professionals and has made it easier for Indian, Chinese, and Eastern European engineers to move to their country. Since 2016, Toronto has seen tech jobs grow by 81,000 — the highest number of any North American city.

As the HB-1 program is caught up in the general political immigration debate in the US, workers living abroad may be in high demand from American tech companies.

Things are changing daily within the financial world. Sign up for the SoFi Daily Newsletter to get the latest news updates in your inbox every weekday.

Sign up

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Adviser
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

All your finances.
All in one app.

SoFi QR code, Download now, scan this with your phone’s camera

All your finances.
All in one app.

App Store rating

SoFi iOS App, Download on the App Store SoFi Android App, Get it on Google Play

James Flippin ABOUT James Flippin James Flippin is the son of a financial advisor who grew up hearing and learning about bond yields, interest rates, the stock market, and the ins and outs of Wall Street. After stints as a licensing and business broker for Marcus and Millichap in New York City, James moved into broadcasting and became a reporter and anchor. He covered crime, politics, finance, and tech at NBC News Radio while working part-time as a producer for SiriusXM. James graduated from the University of Delaware with a bachelor’s degree in political science and economics. He's also an accomplished podcaster with over 10-years of experience.

TLS 1.2 Encrypted
Equal Housing Lender