Financial Firms Rely on H-1B Visas for Specialized Workers

As President Biden cracks down on immigration, the future of the H-1B visa program, which allows U.S. companies to hire skilled foreign workers, remains uncertain. Business Insider analyzed data from the Department of Labor and US Citizenship and Immigration Services to determine which financial services companies sponsor the most H-1B visas.

Top Financial Firms Sponsoring H-1B Visas:

1. JPMorgan Chase: 1,990 certified H-1B filings
2. Fidelity: 1,839 certified H-1B filings
3. Goldman Sachs: 1,443 certified H-1B filings
4. Citi: 1,058 certified H-1B filings
5. Capital One: 758 certified H-1B filings
6. Morgan Stanley: 642 certified H-1B filings
7. Barclays: 609 certified H-1B filings
8. Visa: 587 certified H-1B filings
9. American Express: 575 certified H-1B filings
10. Bank of America: 500 certified H-1B filings

Types of Roles Sponsored:

While many H-1B filings seek technology and software workers, some firms also use them to hire investment bankers and professionals.

Uncertainty Surrounding Program's Future:

Despite President Trump's previous support for H-1B visas, the program faces potential changes or restrictions. Two Republican senators recently introduced a resolution to strike down a Biden-era rule that extended visa validity from 180 to 540 days.

Financial Impact:

Financial firms heavily rely on H-1B visas to fill specialized roles. Restrictions on the program could significantly impact their ability to recruit and retain top talent.