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This paper is a collaborative autoethnography (CAE) by three international PhD students from Bangladesh, Japan and Nepal who pursued (or who are currently pursuing) their studies in New Zealand. In contrast to previous research which largely advanced a simplistic, downward social mobility experience of international PhD students or highly skilled migrants in general, we argue that this experience is dynamic, complex and multidimensional in nature. In doing so, we turn to Bourdieu’s theory of capital. By focusing on less-direct economic resources (e.g. ethnicity, nationality, language and social networks), we explore the multidimensionality and convolution of our social mobility which stems from migration. Setting aside a narrative of adversity and downward social mobility among international PhD students, this paper emphasizes how we actively negotiated and dealt with shifting class identity and social …