"U.S. banks and tech firms have no need of H1B Visa talent"

[Catalpha]

"U.S. banks and tech firms have no need of H1B Visa talent"

As we've noted here before, big banks and big technology firms have been big users of H1B visas, which enabled them to hire-in global talent and that were temporarily banned by President Trump in June 2020. Despite protestations that the ban will lead to pay inflation for the "finite pool of super-smart folks" that have U.S. citizenship, the ban also has plenty of supporters. Key among them is Hal Salzman, a professor of planning and public policy at Rutgers University.

There's absolutely no reason why banks and tech firms should complain about the lack of H1B visa talent, Salzman tells us. "Annual hiring demand for top talent positions is probably, say, 5,000 new hires a year. Make it 10,000 if you like," says Salzman. He points out that the U.S. produces 1.9m bachelors graduates a year, plus hundreds of thousands of Masters graduates, plus PhDs: "It seems implausible they can't find that number among the 1.9m."

In a paper published last year*, Salzman pointed out that only a third of all U.S. STEM degree holders are actually employed in STEM jobs, suggesting the majority are under-employed and that the supply of U.S. STEM graduates more than meets the country's demand. The same paper pointed out that the supply of U.S. STEM students is highly elastic and increasing. "The U.S. education system has produced ample supplies of students to respond to STEM labor demand," said Salzman.

Why, then, do banks and tech firms like to hire-in developers, quants and data specialists from overseas? Salzman says it's all about labor arbitrage and that the U.S. government shouldn't be supporting this. "H1B is the government reaching its hand into the pockets of tech workers (those lucky enough to get a job) and handing out the money it grabs to the tech companies' executives and shareholders," he claims, echoing other supporters of the ban.

If banks and technology firms really need specialist talent from overseas following the H1B ban, Salzman says they can still hire it using things like the O-1 Visa for outstanding talent which has fewer constraints than the H1B. They could also recruit some of PhD students who leave U.S. universities each year, only half of whom Salzman says are in "career jobs." 

"Are we to believe the talent these companies are looking for is so extraordinarily rare and greater than doctoral scientists? Or engineers?" says Salzman. "I'd like a cheaper iphone but, so far, the government hasn't created a program to lower the cost, say by using some of Apple's astronomical profit (on which they pay close to zero taxes via the double Dutch)," he adds.  

[r2d2]

Ok

[reality]

Iran M seeke batch/ Paki techworkers...lol

[Catalpha]

1 minute ago, reality said:

Iran M seeke batch/ Paki techworkers...

PhD students also same batch? 

If banks and technology firms really need specialist talent from overseas following the H1B ban, Salzman says they can still hire it using things like the O-1 Visa for outstanding talent which has fewer constraints than the H1B. They could also recruit some of PhD students who leave U.S. universities each year, only half of whom Salzman says are in "career jobs."

[tom bhayya]

Lol fresh graduates ki experienced people ki theda theliyani vallu kuda phd lu chesi research papers releasing 

[Lonavala]

4 minutes ago, tom bhayya said:

Lol fresh graduates ki experienced people ki theda theliyani vallu kuda phd lu chesi research papers releasing 

US tech workers aa😂😂😂

[tom bhayya]

6 minutes ago, Catalpha said:

PhD students also same batch? 

If banks and technology firms really need specialist talent from overseas following the H1B ban, Salzman says they can still hire it using things like the O-1 Visa for outstanding talent which has fewer constraints than the H1B. They could also recruit some of PhD students who leave U.S. universities each year, only half of whom Salzman says are in "career jobs."

Phd aithey mathram industry ready to fill 5 yrs experienced role? Oka company lo entry level positions enni untaayi?

[Catalpha]

46 minutes ago, tom bhayya said:

Phd aithey mathram industry ready to fill 5 yrs experienced role? Oka company lo entry level positions enni untaayi?

Entry level job ayina O1 sponsoring for PhDs. Are you saying no one can fill experienced roles?

[Catalpha]

48 minutes ago, tom bhayya said:

Lol fresh graduates ki experienced people ki theda theliyani vallu kuda phd lu chesi research papers releasing 

Ok, PhD cheyadaniki idi telusukodaniki em relation

[dasara_bullodu1]

Gattiga 4 days support job iste laptop pagalagotti vellipotaru office nundi eellu cheptunnadu Tech gurinchi

[tom bhayya]

1 hour ago, Catalpha said:

Ok, PhD cheyadaniki idi telusukodaniki em relation

 Key among them is Hal Salzman, a professor of planning and public policy at Rutgers University.

There's absolutely no reason why banks and tech firms should complain about the lack of H1B visa talent, Salzman tells us. "Annual hiring demand for top talent positions is probably, say, 5,000 new hires a year. Make it 10,000 if you like," says Salzman. He points out that the U.S. produces 1.9m bachelors graduates a year, plus hundreds of thousands of Masters graduates, plus PhDs: "It seems implausible they can't find that number among the 1.9m."

In a paper published last year*, Salzman pointed out that

 

 

Hal Salzman, Ph.D | John J. Heldrich Center for Workforce ...

[GoogleIT]

Migilina desaliki Aaku Pacha card edho one - two years lo ichinatu isthey  H1B evariki kavali

[presidents_medal]

inka market loki raani tool ayiona raatriki ratriki nerchukoni

chese dammu evvadikee ledu

manollaki tappa ... IT ante sollu mingatam anukuntunnaaru, maanchi prod issue okati padithe 3 months padukuntaaru

[awaraa]

banks O1 visa sponsor cheyaru. only H or L visas

[Catalpha]

29 minutes ago, presidents_medal said:

inka market loki raani tool ayiona raatriki ratriki nerchukoni

chese dammu evvadikee ledu

manollaki tappa ... IT ante sollu mingatam anukuntunnaaru, maanchi prod issue okati padithe 3 months padukuntaaru

Ok