Dive Brief:
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Amazon, Microsoft, Intel and Google were among the top 10 recipients for approved H-1B petitions in FY17, according to the National Foundation for American Policy's 2017-2018 H-1B report. By comparison, consultancy firms, including Tata Consultancy Services and Infosys, saw a 50% and 57% year-over-year decline, respectively, in petitions from FY15 to FY17.
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Cognizant represents the number one holder for approved petitions in FY17 despite it having a 25% year-over-year decrease in petitions from FY16. Facebook's petition rate increased by 53% in FY17 and Apple's rate increased by 7%, representing the 14th and 15th companies ranked on the list.
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The current H-1B visa cap is for 85,000 people, comprised of 65,000 regular cap petitions and 20,000 Master's exempt petitions. Still, the visa cap represents only 0.05% of the 160 million people in the U.S. workforce.
H-1B by the numbersNational Foundation for American Policy
Dive Insight:
The H-1B visa program is used across industries, but tech companies in particular benefit from its foreign talent. And as the tech industry continues to rapidly mature, finding the right talent to support it is crucial to the U.S. economy.
The visa cap was met within five days this year with the USCIS receiving 190,098 petitions, a decrease from last year's 199,000 and 2016's 236,000 petitions.
But many experts agree that caps and new restrictions on the program will ultimately hurt the U.S. economy rather than promote the Buy American, Hire American policy of the Trump administration.
About 60% of H-1B visa holders possess a master's degree or higher, according to the report. Without the intellectual prowess showcased in the majority of visa holders, it is likely that jobs, and therefore talent, will go to other countries.
Fewer Indian-based companies are using the H-1B visa program, in part due to the rise in digital services and reduced need for a physical workforce. It is also a result of India-based companies stepping away from using foreign talent to develop their workforce in the U.S.
Until then, companies and applicants must continue to maneuver around restrictions on H-4 visas, contractors and premium processing.
