The H-1B visa is a type of work visa in the United States for specialist professionals. It allows foreign people with specialized professional abilities, either through a degree or work experience, to live 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 popular choice for business school applicants globally.
An H-1B visa is required for international MBA and business master’s students who wish to remain and work in the United States permanently after graduation.
So, what is an H-1B visa exactly? What is the H-1B visa application process? So what are the H-1B visa requirements?
H1B visa validity
The H-1B visa is a non-immigrant visa that allows individuals to enter the United States temporarily. H-1B visa holders are able to live and work in the United States for three years, after which they can extend their stay for another three years if they like. So you have a total of six years to stay in the United States on an H-1B visa.
When your maximum stay in the United States expires, you must depart or apply for a new status, such as F-1 student, O-1 ‘special ability’ worker, or Green Card.
To extend your H-1B visa beyond three years and reach the maximum term, a petitioner must file Form I-126 on your behalf. Your petitioner may be your present or new employer.
H1B Visa Eligibility
Highly skilled foreign nationals are granted H-1B visas through a lottery system. To be eligible for an H-1B visa, you must have a bachelor’s degree and work in one of numerous specialty occupations, such as business or management.
Fortunately, H-1B visa rules benefit MBA and business master’s degree holders. Because there is so great demand for the H-1B visa, only a limited number of visas may be granted annually. The visa ceiling for 2023 has been set at 65,000 per year.
Applicants holding a master’s degree from a US university are eligible for an additional 20,000 visas, increasing the total cap to 85,000.
If the US firm sponsoring an H-1B worker is a higher education institution, a nonprofit organization linked with a higher education institute, or a government research body, the H-1B lottery cap does not apply.
Remember that it doesn’t matter if you got your bachelor’s degree abroad as long as it’s equivalent to a bachelor’s degree in your specialty occupation from the United States.
H1B visa costs
Your employer will sponsor you for an H-1B visa and will typically cover the cost of the visa.
The cost of an H-1B visa application ranges from $4,730 to $10,400, depending on the specific conditions. Fees include a $10 registration fee (now $215), a $460 filing fee, and a $500 fraud prevention and detection fee.
There is also a $4,000 tax for businesses with more than 50 employees, more than half of whom are on H-1B or L-1 visas. The ACWIA (Training) Fee is $750 for enterprises with one to 25 full-time employees, and it rises to $1,500 for those with more than 26 full-time employees.
Certain organizations, such as non-profits affiliated 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 and is normally paid by the employee. Paying this optional fee can speed up the H-1B visa process, ensuring a 15-day processing time.
The cost of filing for an H-1B visa has just increased.The controversial increase in immigration fees by the United States Citizenship and Immigration Services (USCIS) has resulted in significantly higher expenses for H-1B visa applications.
While the cost of the 2024 visa season remained the same, the extra price became effective on April 1st. These changes resulted in a 2050% rise in the H-1B visa E-registration fee, from $10 to $215. In addition, the H-1B petition fee has risen by 70%, from $460 to $780.
USCIS currently imposes an Asylum Program Fee of $600 for businesses with 26 or more Full-Time Employees (FTEs), $300 for small businesses (25 or fewer FTEs), and $0 for charitable organizations.
Every year, thousands of professionals looking to work in the United States are sponsored by some of the world’s largest enterprises, including major technology companies.
H1B Visa Application Process
To obtain an H-1B visa, you must be sponsored by your employer, who will petition USCIS on your behalf.
Many companies, including top MBA recruiters such as Amazon, Apple, and McKinsey, provide H-1B sponsorship to talented international grads.
Although your company will shoulder the majority of the expenses, this does not mean they will cover all. You must apply for the visa at the US embassy in your native country and attend an interview during which you will be asked extensive questions about your workplace and job function. If this is your first time applying, they will also take your fingerprints.
The schedule for H-1B visa applications is as follows.
Create a USCIS online account in February and register before the portal is closed in late March.
The lottery is held in late March, and the winners are notified shortly thereafter.
Employers have 90 days to file a petition after H-1B visa holders are notified in early April.
The H-1B visa renewal process, which begins six months before your visa expires, requires similar filing fees, papers, and supporting documentation.
H1B Visa Lottery
Finally, your fate will be decided through a visa lottery.
As previously said, having an MBA or master’s degree provides you an advantage, as there are an additional 20,000 visas available. Furthermore, graduates of US business schools have access to lucrative post-graduate opportunities with major businesses headquartered in the United States that will sponsor their H-1B visa.
The average MBA income in the United States is $126,660, but graduates from top programs can make more. The sheer size of the US economy provides numerous opportunities for rising business stars, notably in innovation areas like Silicon Valley and Boston, as well as consulting and financial hubs like New York.
Although the likelihood of obtaining an H-1B visa has increased since Donald Trump’s suspension in March 2021, recent modifications to the process will affect overseas students. One notable change is that people cannot enter the H-1B visa lottery several times in order to boost their chances of winning.
Despite these changes, H-1B approvals have steadily increased in recent years, even when compared to pre-pandemic levels. H-1B petitions increased by 61% to 780,884 in FY 2024, surpassing the annual maximum of 85,000 by about 700,000.
Graduates of STEM-certified programs are more likely to succeed.STEM-designated MBA and master’s programs provide courses in science, technology, engineering, and mathematics, which are popular among H-1B visa holders.
Crucially, STEM school graduates receive a 24-month extension to their optional practice training (OPT) period, enabling them an additional two years to petition for an H-1B visa.
What is OPT?
International MBA or master’s students on an F-1 student visa are entitled for one year of optional practical training (OPT) in the United States related to their studies without the need for an H-1B visa.
You can apply for OPT by requesting a recommendation from your university, up to 90 days before the end of your degree and no later than 60 days after completion.
Although you can obtain an H-1B visa immediately after finishing your degree, most graduates prefer to undergo optional practical training first. If you wish to continue working in the United States after your OPT period expires, you must apply for an H-1B visa.
In 2023, the US Department of State denied nearly a quarter of a million student visa applications, marking a new record for visa refusals. F-1 visas are frequently the most reliable way for students to enter the United States.
STEM MBA or master’s graduates can stay in the United States on OPT for up to three years before applying for an H-1B visa.
Can you move from an H1B visa to a Green Card?
The H-1B visa, which is a dual intent visa, is a typical path to permanent residency in the United States.
While other work visas require applicants to establish ‘nonimmigrant intent’ (intention to depart the US once the visa expires), a dual intent visa allows foreign nationals to exhibit both nonimmigrant and immigrant intent (intention to obtain permanent residency).
The current immigration fee increases for the H-1B visa will also affect green card applicants, with application fees rising by 19% from $640 to $760.
They can apply for green cards when their H-1B visa’s maximum six-year stay ends.
