The H-1B visa is a type of work visa in the United States that is available to specialized workers. It enables foreign nationals with specialized professional skills, obtained through a degree or work experience, to reside and work in the United States.
Harvard, Stanford, and Wharton are among the top-ranked business schools in the United States, making it the most sought-after destination for business school candidates worldwide.
An H-1B visa is required for overseas MBA and business master’s students who want to stay and work in the United States permanently after graduation.
So, what is an H-1B visa exactly? What is the H-1B visa process? So, what are the H-1B visa requirements?
H1B visa validity
The H-1B visa is a non-immigrant permit that allows persons to enter the United States temporarily. H-1B visa holders are permitted to reside and work in the United States for three years, following which they may extend their stay for another three years if they desire to stay. So you have a total of six years to stay in the United States with an H-1B visa.
When your maximum length of stay expires, you must leave the United States or seek a new status, such as an F-1 student, an O-1 ‘exceptional ability’ worker, or a Green Card.
To extend an H-1B visa beyond three years and reach the maximum length, a petitioner must file Form I-126 on your behalf. Your petitioner could be your current or a new employer.
H1B visa eligibility
Highly skilled foreign nationals receive H-1B visas through a lottery system. To meet the H-1B visa criteria, you must have at least a bachelor’s degree and work in one of several specialty occupations, including business and management.
Fortunately, H-1B visa rules benefit MBA and business master’s grads. Because there is a high demand for the H-1B visa, only a limited number of visas can be awarded annually. The ceiling for 2023 was set at 65,000 visas each year.
Applicants with a master’s degree from a US university are eligible for an additional 20,000 visas, bringing the overall cap to 85,000.
If the US employer sponsoring an H-1B worker is an institution of higher education, a nonprofit organization affiliated with an institute of higher education, or a government research organization, the H-1B lottery cap does not apply.
Remember that it makes no difference if you completed your bachelor’s degree overseas as long as it is equivalent to a bachelor’s degree in your specialty occupation from the United States.
H1B visa cost
Your employer will sponsor you for an H-1B visa, and they will normally cover the cost of your visa.
The cost of an H-1B visa application ranges from $4,730 to $10,400, depending on individual circumstances. Fees consist of a $10 registration charge (now $215), a $460 filing fee, and a $500 fraud protection and detection fee.
There is also a $4,000 fee for organizations with more than 50 employees, more than half of whom are on H-1B or L-1 status. The ACWIA (Training) Fee is $750 for organizations with one to 25 full-time employees and increases to $1,500 for companies with more than 26 full-time employees.
Some organizations, including non-profits linked with educational institutions, government research groups, and primary/secondary educational institutions, are exempt from the ACWIA fee.
Finally, the H-1B Premium Processing Fee is $2,805, which is typically paid by the employee. Paying this optional cost will expedite the H-1B visa process, ensuring a 15-day processing time period.
The cost of filing for an H-1B visa has just increased.The contentious rise in immigration fees by the United States Citizenship and Immigration Services (USCIS) has resulted in significantly higher costs for H-1B visa applications.
While the cost of the 2024 visa season remained the same, the additional fee took effect on April 1st. These modifications have resulted in a 2050% increase in the H-1B visa E-registration price, from $10 to $215. In addition, the H-1B petition fee has increased by 70%, from $460 to $780.
USCIS now charges an Asylum Program Fee of $600 for firms with 26 or more Full-Time Employees (FTEs), $300 for small employers (25 FTEs or less), and $0 for charitable organizations.
Every year, thousands of professionals seeking to work in the US are sponsored by some of the world’s largest corporations, including major tech firms.
H1B visa application process
To acquire an H-1B visa, you must be sponsored by your company, who will petition the USCIS on your behalf.
Many firms, including top MBA recruiters like Amazon, Apple, and McKinsey, offer H-1B sponsorship to talented international graduates.
Although your employer will bear the majority of the expenditures, this does not guarantee they will cover all. You must apply for the visa at the US embassy in your home country and attend an interview in which you will be asked detailed questions about your workplace and employment function. If this is your first time applying, they will even collect your fingerprints.
The timetable for H-1B visa applications is as follows:
- Create a USCIS online account in February and register before the portal closes in late March.
- The lottery is held in late March and winners are contacted shortly after.
- Employers have 90 days to submit a petition after H-1B visa holders are notified in early April.
The H-1B visa renewal process, which begins up to six months before your visa expires, includes similar filing fees, papers, and supporting documentation.
H1B visa lottery
Finally, your fate will be decided by a visa lottery.
As previously said, being an MBA or master’s graduate gives you an advantage, as there are an additional 20,000 visas available. Furthermore, graduates of US business schools have access to tempting post-graduate prospects with prominent corporations headquartered in the United States that will sponsor their H-1B visa.
The average MBA income in the USA is $126,660, however graduates from premier programs can earn more. The sheer size of the US economy also presents a plethora of opportunities for rising business stars, particularly in innovation hubs such as Silicon Valley and Boston, as well as consulting and finance hubs such as New York.
Although the chances of obtaining an H-1B visa have increased since Donald Trump’s suspension in March 2021, there have been recent changes to the process that will impact international students. One significant change is that individuals cannot enter the H-1B visa lottery multiple times to increase their chances of success.
Despite these adjustments, it is worth noting that H-1B approvals have consistently climbed in recent years, even when compared to pre-pandemic levels. H-1B petitions soared by 61% to 780,884 in FY 2024, exceeding the annual cap of 85,000 by roughly 700,000.
Graduates of STEM-certified courses are more likely to succeed.STEM-designated MBA and master’s programs offer courses in science, technology, engineering, or mathematics, which are popular among H-1B visa holders.
Crucially, STEM program graduates are given a 24-month extension to their optional practice training (OPT) period, giving them an extra two years to apply for an H-1B visa.
What is OPT?
International MBA or master’s students on an F-1 student visa are eligible for one-year optional practice training (OPT) in the US relating to their studies, without needing an H-1B visa.
You can apply for OPT by asking a recommendation from your university, up to 90 days before the end of your degree and no later than 60 days after it is completed.
Although you can get an H-1B visa right away after finishing your degree, most graduates choose to go through optional practical training first. If you want to continue working in the United States after your OPT year ends, you’ll need to apply for an H-1B visa.
In 2023, the US Department of State rejected over a quarter of a million student visa applications, setting a new record for visa refusals. F-1 visas are often the most reliable means for students to enter the US.
STEM MBA or master’s grads can stay in the US for up to three years on OPT before needing an H-1B visa.
Can you go from H1B visa to Green Card?
The H-1B visa is a common road to permanent residency in the United States because it is a dual intent visa.
While other work visas require applicants to demonstrate ‘nonimmigrant intent’ (intention to leave the US after the visa expires), a dual intent visa permits foreign nationals to have both nonimmigrant and immigrant intent (intention to acquire permanent status).
The latest immigration fee hikes for the H-1B visa will also effect green card applicants, with application costs increasing by 19% from $640 to $760.
Once their maximum six-year stay on an H-1B visa expires, they can apply for green cards.