Elon Musk seeks overhaul of H-1B visa program amid rising controversy
- by Fortune India
- Dec 30, 2024
- 0 Comments
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— Robert Sterling (@RobertMSterling) December 29, 2024
He found out that the average salary for an H-1B is relatively low—slightly under $120k this year. He alleged that many of the companies that import H-1B tech workers en masse are all Indians, including Infosys (61K), Cognizant (93K), and TCS (60K), among others.
"The H-1B program isn't just Indian companies requesting visas for IT workers, though. The list of companies seeking visas for accountants is a who's who of the Big Four and other prominent accounting firms. EY is crushing the competition with 16k+ applications," he said.
Sterling says a casual perusal of the data shows that this isn’t a program for the top 0.1% of talent, as it’s been described. "This is simply a way to recruit hundreds of thousands of relatively lower-wage IT and financial services professionals."
On this mega X thread, Musk replied, saying the H-1B visa program can be "easily fixed by raising the minimum salary significantly and adding a yearly cost for maintaining the H-1B, making it materially more expensive to hire from overseas than domestically".
Easily fixed by raising the minimum salary significantly and adding a yearly cost for maintaining the H1B, making it materially more expensive to hire from overseas than domestically.
I’ve been very clear that the program is broken and needs major reform.
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