New Delhi: Many of you aspiring to go to the US in search of greener pastures may have to rejig career plans as US may soon be bringing in changes in the H1B visa programme aimed at curbing immigrant workforce.
As per the the 'Protect and Grow American Jobs Act' legislation reintroduced by Congressman Darrell Issa on January 4, aims to plug in loopholes that have been 'abusing' H1B visa provisions.
The rhetoric of US companies passing jobs to cheaper work force from foreign countries, denying employment to US nationals has rebounded with President elect Donald Trump's clear anti-outsourcing stand.
IT stocks plunged nearly 3 percent on Friday due to fears triggered by the new Bill. Let us get the facts right how the changes in H1B visa rules may affect Indians:
Many of the jobs that H1B program covers are software engineers, analysts and IT professionals, so it is these skill sets likely to be hurt the most as and when the changes in H1B visa rules become a reality.
To get H1B visa approved, you will have to fit in the salary bracket of $100,000 a year, up from $60,000 currently.
One will need to have a Master’s degree, as recognized by the US.
It is estimated that any change on visa law will largely impact companies who have more than 50 employees based in the US.
Those Indian IT companies who rely upon thousands of new employees every year from India with starting salaries in the mid five figures to take up outsourcing jobs on an H-1B visa, would be heavily impacted . Indian IT companies were rated among the 10 worst paymasters in the world, as per a 2015 survey — with a mid-level IT manager drawing an average salary of $41,213.
However, there is a long way to go for the proposed changes in H1B visa rules to become a reality. The bill may change dramatically in its provisions as it runs it course to becoming law, if at all.
The US government begins accepting applications for H1B visa from April 1. Looking at the past trend, the top four sponsors of H1B visas in recent years have been Infosys, Tata, IBM India, Wipro. In 2015, these firms combined filed around 75,000 H1B visa applications out of which 12,000 H1B visas were issued.