H-1B Visa Trends on Wall Street: Impact of Policy Changes and AI

Following changes to the H-1B visa program introduced by the Trump administration, including a $100,000 fee and stricter social media vetting, data reveals a nuanced response from Wall Street firms. A Department of Labor analysis of the first quarter of fiscal year 2026 shows that the top financial firms filing certified H-1B applications decreased their filings by 10% compared to the previous year.

JPMorgan Chase experienced a significant drop in filings, decreasing by nearly 29% from 724 to 516. Goldman Sachs saw an even more dramatic reduction of over 60%, from 256 to 101 filings. In contrast, Citi's filings increased by nearly 20%, Barclays by approximately two-thirds, and Morgan Stanley by over a quarter. Capital One also showed a modest increase, focusing on roles in data science and machine learning.

These shifts coincide with rising concerns about the impact of generative AI on technical roles, which are often targeted by H-1B-sponsored hiring. The combination of stricter visa policies and the potential displacement of jobs by AI could reshape the future of hiring practices in the financial sector.

The policies made applications more expensive and introduced stricter vetting processes, leading to uncertainty for corporations.

The rise of AI is raising concerns about job displacement, potentially reducing the need for H-1B-sponsored hiring, particularly in technical roles.

JPMorgan Chase and Goldman Sachs saw significant reductions in their H-1B filings.

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