The objective of this paper is to understand the transition between immigrants' premigration education and their educational trajectories once in Canada, and the return on investment in postmigration education in terms of employment status and earnings. The data come from Statistics Canada's Longitudinal Survey of Immigrants to Canada. Using multinomial logistic regressions and fixed effects regressions, we found that: a third of new immigrants with postsecondary training pursue their education during their early years in Canada; those who are admitted to Canada because of their high levels of skills, namely the principal applicants in the skilled workers category, are more likely to pursue their education; and those who enrol do not see an immediate benefit in terms of their earnings. This is further evidence of the lack of foreign credential recognition in Canada, which delays entry into highly paid occupations and delays full participation in the Canadian economy. (Contains 3 notes and 5 tables.)