"yearly cap of like 20k " Try 195,000 per year, 10 times larger than you stated - that's a small city "H1's are not taking your job... Also, H1's do not depress wages" What happens to a stock's price when a large block hits the market? Yeah, it's like that
I just wanted to know if anybody knew of any prop firms that provide visas for a friend. Didn't mean to start a big argument regarding H1s and their effect on the US job market.
Can you quote your source of information regarding this data. I do not think this correct anymore, but I can be wrong.
LOL...listen bro. Beggers can't be choosers. This really is the greatest country on Earth. I hope when your friend gets here he realizes that. If he doesn't want to pay the commissions he can trade in China....J/K.
Yes, it IS correct anymore (From INS government web page) "Is there an annual limit on the number of H-1B aliens? Yes. The current law limits to 195,000 the number of aliens who may be issued a visa or otherwise provided H-1B status in FY2001. In 2002 and 2003, the number of aliens who can be issued a visa will also be 195,000 http://www.ins.usdoj.gov/graphics/howdoi/h1b.htm In fall of 2004, it is supposed to go back to 65,000, but I would not be surprised if it were extended. It was supposed to go down in 2000 (down from 105,000) but instead was raised to 195,000 and for a few more years. ITAA (Information Technology Association of America), the main lobby for H1b, in their spring 2002 report fully admits that over 500,000 have lost technology jobs - this is roughly equal to the number of H1bs in the previous 2 1/2 years. I do not understand how people who supposedly make a living reading stock tape can claim that numbers such as these have no effect on American jobs and wages. Markets are markets, and big numbers on either side move the market up or down.
those 200k people that get H1-B's are usually very smart and productive. Another side of this equation is academics. I have a couple of Ph.D. students friends that are on H1 just doi ng research for pennies. So there are 2 side of the story. Besides, there are limits imposed on companies that hire h1-b's, bigger companies - % of total staff. Another argument for H1-b's is how many h1-b's have you seen as traders? You can see them as middle east fixed income analysts, or south america credit research guys, but anything relating to USA are usually Uncle Sam's kids Anyway, I think this is a two sided argument. Who benefits more, - US or the H1's is questionable. Peace.
Ph. D. students are usually on F-1. Postdocs are usually on H-1B, after the practical training period. It is very tough for a Postdoc with H-1B to get a job. Hence, a lot of them ask their advisors as sponsors to get Green Cards. The whole process usually takes few years. During this period, they are really doing research for pennies. Things have really changed a lot. If you had a Ph. D. degree from a good university, it would take you only six months to get a Green Card in 1993 !! Although Postdoc is supposed to be a temporary position, a lot of people get stuck under current environment. Science Magazine joked about the creation of a new academic status: "Postdoc Emeritus" few months ago.
The vast, vast majority of h1bs are IT workers. Nothing else even comes close. I have met some bright h1bs, but I have also met many who are very much below average. They are used because the employer has immense power over them. They are indentured servents. I have never met an h1b who wasnt going for his "green card", so temporary is a joke. This program is used to replace Americans with workers who have no rights, and lower wages in general. Plain and simple. From http://www.automationmatrix.com/ Top 15 Occupations Being Replaced Occupation Title H-1B Visa Requests System Analysis and Programming 2,296,732 Therapists 202,633 Accountants, Auditors and Related 200,807 Other Computer Related 196,371 Electrical/Electronics Engineering 137,270 Other Architecture, Engineering and Surveying 77,859 Miscellaneous Managers and Officials 62,184 College and University Education 59,850 Other in Administrative Occupations 58,026 Miscellaneous Professional, Technical and Managerial 50,135 Physicians and Surgeons 47,948 Mechanical Engineering 46,071 Occupations in Economics 41,794 Budget and Management Systems Analysis 40,345 Data Communications and Networks 37,028
I'll addres this one too - I don't think the US benefitted at all from H1b H1b was raised in 1998 from 65,000 to 105,000 and in sept 2000 from 105,000 to 195,000 In this same period, Greenspan goosed interest rates down twice in 1998 and then flooded money supply for Y2K So, in late 1998, the bubble was at a critical point. Money supply and available labor should have been constraints and warning signals against overexpansion. When you and your peers are creating www.dumb_a$$_idea.com (as well expanding all the "picks and shovels" companies (CSCO, SUN et al)), that raises IT labor rates, an economic signal that things are expanding too quickly. Those who are expanding, should ask themselves - "gee, labor and money are in tighter supply - will www.dumb_a$$_idea.com really create enough wealth to make up for these higher costs?" But if the government interveans, and keeps these factors in check, those who expand say "don't worry, we can just increase h1b again, and AG will help us too (ie, the moral hazard "Greenspan Put") - we are in an economic miracle!!! A new paradigm!!! The old laws don't apply!!!" So h1b caused the bubble? No. But did H1b help the US? No again, because H1b was PART of an irrisponsible economic policy, in which important economic signals were squelched at a time they should have been heeded.
Even though, my own personal perception of this question is somewhat two-sided, i do enjoy an argumented debate Relating H1-B's to the bubble that had happened in the WORLDWIDE economy is absurd. There are tons more immigrants working in Germany, England and other countries with pay and requirements very similar to those of USA. Saying that the number of IT proffessionals under H1-b could have been used as one of the warning signals, yes, I agree, but there are a ton of things that were much more obvious signs of the bubble, than H1-b's. Saying that H1-b's contributed to the bubble is unreasonable, since the emergence of IT was a 90's phenomena. Well if H1-b's didn;t hurt the economy, did those workers help US in any way? Sure, First the money that they make stays mostly in US (what percentage of h1-b's own a house/condo, compared to a parallel us worker?), so leaving 1/3 of their paycheck on rent, another 1/5 on food, transportation etc. etc. I would say a typical h1-b will spend 90% of his disposable income AFTER TAXES (they pay taxes on a different scale and are not subject to any tax credits as most americans are). Secondly, most h1-b's tend to be in one or another academic program, where they usually pay with hard earned cash, since most of them do not have enough credit established to get credit cards. Third, H1-b's spend tons of money on lawers to get to the green card status, at which point they are 7-8 behind most american citizens and usually have 7-8 of prime money making years left. Overall, the argument I am making is that US would rather have H1-b's than all of the IT projects outsourced to India and Eastern Europe, which, in fact, is easy to do, since done projects are mostly intellectual property, and can be implemented remotely. As a matter of fact, most corporations are moving to that model lately.. I would rather have them hear spending that money.. Another important aspect of H1-b's that they are fully taxed rather than getting paid under the table, while the foreign national is attending some bogus English language school. Once again, argument has both sides. If there were less H1-b's in 1999 and 2000, cisco and Microsoft's headquarter' smight be in Dehli, India? M.