Trump’s H-1B Fee Plan Threatens Wall Street’s Hiring Model

Benzinga

Trump’s proposed $100K H-1B visa fee could strain Wall Street, which depends on foreign talent for key roles. Analysts warn banks may struggle more than tech firms, with JPMorgan’s Jamie Dimon planning talks with policymakers.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02President Trump's proposed a $100,000 H-1B visa fee could hit Wall Street hard,

00:07with analysts warning banks may face more difficulty observing the cost than tech firms,

00:11according to Reuters. Finance industry relies heavily on H-1B workers for quantitative modeling,

00:16algorithmic trading, risk management, and software roles. Prospect Rock Partners managing partner

00:21Meredith Dens said the $100,000 H-1B visa fee makes hiring entry-level analysts or tech workers

00:26nearly impossible. Firms could be forced to consider offshore hiring or alternative visa pathways

00:31to maintain critical talent pipelines. J.B. Morgan CEO J.B. Diamond said the policy caught banks off

00:37guard and plans to discuss it with policymakers. For all things money, visit Benzinga.com.

Category

Transcript

Be the first to comment

Recommended