There are numerous opportunities for employers to receive funding to hire Co-op students.
The Magnet Student Work Placement program brings together employers, students, and post-secondary school stakeholders to create quality work-integrated learning (WIL) opportunities. The program provides employers with wage subsidies to hire post-secondary students for paid work experiences. Students in turn benefit with quality work experience so they can secure employment in their chosen fields of study. The program is expected to generate up to 20,000 paid student work placements yearly across Canada by 2021-22.
Work placements are a win-win for employers and students. Through the Student Work Placement program, employers can apply for wage subsidies to help them hire post-secondary students across Canada.
Engage Program, NSERC
As part of the implementation of this Strategy, NSERC has established a new initiative called Engage, which provides start-up funding for academic researchers to establish new partnerships with companies to help them address specific, short-term R&D challenges. The research funding available is up to $25,000 for a period of six months. This program does not require a cash contribution from the company. The funds can be used by faculty to hire students to work on new collaborative R&D activities.
The new NSERC Strategy for Partnerships and Innovation also places a high priority on enhancing the utilization of our industrial scholarships and fellowships, such as the Industrial Undergraduate Student Research Awards (I-USRA), the Industrial Postgraduate Scholarships (IPS) and Industrial R&D Fellowships (IRDF). The NSERC I-USRA program, in particular, is a funding program that is well-aligned with science and engineering student co-op opportunities, so we would encourage you to contact our office if you would like to know more about this program.
Co-operative Education Incentive: NS Government (NS Employers)
Employers pay students a minimum of $15.00 per hour plus 4% vacation pay. CO-OP will reimburse $7.50 per hour to a maximum of 40 hours per week. Employers participating in IRAP and SR&ED are eligible for an “R&D Incentive” and may receive up to $10.00 per hour.
NSERC’s Experience Awards (previously Industrial Undergraduate Student Research Awards [IUSRA]) offer companies access to talented natural sciences and engineering undergraduate students for a work term. This cost-shared program allows students to address company-specific R&D challenges while gaining valuable industrial experience. Experience Awards also let companies identify potential future full-time employees.
Canada Business Wage Subsidy Directory
- Lists provincial and national wage subsidies.