Completely unrelated.
Having never viewed India Times' website before, can I say, I really like their method of pulling in infographics and backing up their statements. I'd like to see a lot more of that in the States.
New H1-B Visa bill doubles the salary requirements to $130K/yr
471–480 of 487 posts
Re: New H1-B Visa bill doubles the salary requirements to $130K/yr
#472Earlier quoted context omitted.
I don't believe it. Maybe if you add up all the initial grants, but those vest over 4 years but I would bet a rock-bottom offer to a new grad is more like $120k/year or even $100k/year. Still ample for an H1B (well, under other bills) but I suspect this will put significant upward pressure on salaries in the tech industry.
What's your source on those new grad numbers? My total comp was above $100k as a new grad at Amazon, and I think they pay less than Bay Area companies. Plus, that was three and a half years ago.
Yeah, that sounds right. But $160k sounds super-high. I would be very surprised if a new grad at Amazon made more than $130k total compensation in the first year.
Of course, the way the RSU vesting schedule works you would have a more-or-less guaranteed raise to $160k/year by your 3rd year or so, but $160k/year is not "rock-bottom" starting pay.
Re: New H1-B Visa bill doubles the salary requirements to $130K/yr
#473Earlier quoted context omitted.
I don't believe it. Maybe if you add up all the initial grants, but those vest over 4 years but I would bet a rock-bottom offer to a new grad is more like $120k/year or even $100k/year. Still ample for an H1B (well, under other bills) but I suspect this will put significant upward pressure on salaries in the tech industry.
Yes I was counting equity in, since they're publicly traded companies, RSUs are pretty much equivalent to a cash bonus, at least to me... But even without that, given the total compensation, I'm sure it'd be easy for said companies to extend offers that are over $130k in cash on paper, since it includes bonuses.
Yes, RSUs are cash, but only when they vest. The way I see it, RSUs for those companies are more like guaranteed raises than current compensation. So it might be more accurate to say that a rock-bottom offer from such a company guarantees you will rise to $160k/year total compensation within four years, but the total compensation in your starting year will probably be less than $130k.
Re: New H1-B Visa bill doubles the salary requirements to $130K/yr
#474Earlier quoted context omitted.
H-1B was not setup as a path for graduates to stay in the US. It was intended to allow highly skilled workers in and has been gamed since then to do all kinds of things. That said, I think a permissive immigration policy is in our intrests, but H-1B is a poor basis for such a policy.
H-1B is dual intent.
H-1B allows dual intent, but H-1B does not require dual intent.
Re: New H1-B Visa bill doubles the salary requirements to $130K/yr
#475Is the a data on why skilled immigrants on H1-B accept lower wages?
Still better than staying in their shitty country + hope to become a US citizen one day.
Maybe for some, but I'm working in the US because of the higher wages only. And I'd probably hustle my way to a even higher salary if I could compete by freely switching job. So I was curious if there's data around that. It seems to me more like the natural balance of offer and demand with H1B is broken, as an employer can get high skilled workers, and then lock them in for multiple years without needing to compete salary wise anymore.
I think there's a lot more H1B workers who are attracted to working in the US because of those high wages and not because they want to flee their shitty country. High skilled workers are not refugees. They could go to Canada or any other western country, but they flock to the US if they can because of the high salaries.
So my point is, I don't think it's that they accept a lower wage, the wage offered to them is the highest they can get, it's more then in any other country. The issue seems to be that the H1B artificially lower the American wages, by not giving fare market competition on recruiting, which caps out salaries for H1B workers. If that wasn't the case, the H1B workers might even boost salaries, if companies tried to compete even more aggressively for the highest skilled.
Re: New H1-B Visa bill doubles the salary requirements to $130K/yr
#476Earlier quoted context omitted.
received one of the most expensive educations in the world that effectively requires working in a first-world country to pay off after.
That's something to consider before matriculation. It's just as much a problem for Americans as it is for foreigners, so sympathy might be hard to find...
The difference of course is that if you come to a US university expecting to make US wages afterwards, that's one thing. If you suddenly get sent back to a third-world country, that's a totally different thing. The problem is America has effectively been selling these people a false bill of goods.
Re: New H1-B Visa bill doubles the salary requirements to $130K/yr
#477Earlier quoted context omitted.
You seem to be assuming that salaries are based only on scarcity. This is of course wrong - they also are based on available budgets. If there's nobody to hire for available money, the result may be not more money offered, but less startups surviving. Startup can be hugely successful - but more likely it would be wasted money. Salary floor means more money wasted, means higher risk, means less startups. Or at least l…
I don't at all assume that and nothing constrains you from hiring your own citizens at lower salaries if they'll accept them or investing in training them, making your colleges more accessible and affordable etc. The proposals merely say if you want to hire non Americans, pay more. If you don't want to invest in training your citizens and also don't want to pay more to hire outsiders, maybe you should relook at your…
> nothing constrains you from hiring your own citizens at lower salaries
Except if those are not available, or do not want to work for this salary, e.g. because fringe benefits of the position (getting into US, visa being handled by somebody else, etc.) do not apply to them. Or just because they are used to much higher standards of living and demand salary that pays for well located apartment in SF, new Tesla car, etc. while some other people would be OK living with roommates and using public transportation.
> making your colleges more accessible and affordable
I'm not sure how a startup should go about making colleges more accessible and affordable. And why more accessible college necessarily would produce more highly qualified professionals exactly required by this startup and not just more people with college diploma, which means increasingly less as everybody has them now.
> The proposals merely say if you want to hire non Americans, pay more.
That is an import tariff. Tariffs are measures that harm consumers and destroy value, ask any economist.
> not looking out for the interests of the 99%
You are assuming 99% have the same interest. It is not true - it's more likely you ascribe a narrow interest to a lot of people without even trying to consider what their actual interests are.
> No one wants a de-stabilized nuclear power.
That's not even an argument. "I am right because you will lead to a nuclear war". Really?
Re: New H1-B Visa bill doubles the salary requirements to $130K/yr
#478Earlier quoted context omitted.
You can oy exercise 83b if you have cash on hand in advance. Hence my comment: only wealthy founders tend to get a good deal. And for Engineers and Designers it's even harder. It is very wrong to treat employees as investors when they're invariably taking major income hits to be there.
Founders should be receiving shares (not options) before any financing. Fair market value is zero, so an 83b is free. The people who get screwed are early employees, who join and get options when shares are not worth a lot but non-zero. Then your choices are front the cash to early exercise (if the company even allows that) and 83b what are probably going to be worthless shares or wait until later and find that the s…
> Founders should be receiving shares (not options) before any financing. Fair market value is zero, so an 83b is free.
"Fair market value is zero, so an 83b is free." Okkkaayyyy...
Re: New H1-B Visa bill doubles the salary requirements to $130K/yr
#479Earlier quoted context omitted.
We do not need more entry level candidates. By allowing the importation of entry level workers you deny graduates the chance to receive training and obtain valuable experience. There's then little incentive for employers to train fresh grads.
Awww, poor dumb americans can't keep with the immigrants. I feel so sorry for them. That's pretty much the argument you are making. No one is defending H-1B abusing companies like Tata and Infosys. People are saying google and others use the program to hire skilled people for reasonable salaries. So if American grads can't get hired, maybe they should study more instead of whining about fucking immigrants.
We've already asked you to “really, please stop” commenting like this, so we've banned the account.
Re: New H1-B Visa bill doubles the salary requirements to $130K/yr
#480I'm more interested in enforcing the law we have like when compaines publicly announce that they are laying off their US workers to hire H1-B's which is a direct violation.