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.
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