Tag Archives: banking

International Students – Learn More About The H-1B Visa

American Visa (XL)

The Problem Faced by International Students

For many of us international students here in the U.S., the most dreaded time of our professional career arrives as we are about to graduate with an undergraduate degree, more specifically finding a company what is willing to offer us H-1B sponsorship; also known as the “Person in Specialty Occupation” Visa. Once international students have used up all of the 12 months available through the OPT (which I’ve addressed in earlier posts), international students are basically left with very few choices if they are to remain legally in the U.S., with most students opting to acquire an H-1B visa.

In this article I would like to clarify what an H-1B Visa really is, who’s eligible, who can sponsor it, and offer general guidelines on how, to the best of my knowledge, attain one.

What is the H-1B Visa?

The US H1B visa is a non-immigrant visa that allows US companies to employ foreign workers in specialty occupations that require theoretical or technical expertise in specialized fields such as in architecture, engineering, mathematics, science, and medicine. Under the visa a US company can employ a foreign worker for up to six years.

Applying for a non-immigrant visa is generally quicker than applying for a US Green Card, therefore the H-1B visa is popular for companies wishing to bring in staff for long-term assignment in the US. Individuals are not able to apply for an H1B visa to allow them to work in the US. The employer must petition for entry of the employee.

H1B visas are subject to annual numerical limits. Current immigration law allows for a total of 85,000 new H-1B visas to be made available each government fiscal year. This number includes 65,000 new H-1B visas issued for overseas workers in professional or specialty occupation positions, and an additional 20,000 visas available for those with an advanced degree from a US academic institution. Once the visa cap has been reached, USCIS will stop accepting H-1B petitions for FY 2013 and will not accept new applications until April 2013.

In 2008, an estimated 130,000 applications was received for the available 85,000 spots.

Restrictions and Limits

The US H1-B visa is designed to be used for staff in specialty occupations. The job must meet one of the following criteria to qualify as a specialty occupation:

  • Have a minimum entry requirement of a Bachelor’s or higher degree or its equivalent.
  • The degree requirement for the job is common to the industry or the job is so complex or unique that it can be performed only by an individual with a degree.
  • The employer normally requires a degree or its equivalent for the position.
  • The nature of the specific duties is so specialized and complex that the knowledge required to perform the duties is usually associated with the attainment of a bachelor’s or higher degree.

To work in a specialty occupation. Requires a higher education degree or its equivalent. Includes fashion models of distinguished merit and ability and government-to-government research and development, or co-production projects administered by the Department of Defense.

For you to qualify to accept a job offer in a specialty occupation you must meet one of the following criteria:

  • Have completed a US bachelor’s or higher degree required by the specific specialty occupation from an accredited college or university.
  • Hold a foreign degree that is the equivalent to a U.S. bachelor’s or higher degree in the specialty occupation.
  • Hold an unrestricted state license, registration, or certification which authorizes you to fully practice the specialty occupation and be engaged in that specialty in the state of intended employment.
  • Have education, training, or experience in the specialty that is equivalent to the completion of such a degree, and have recognition of expertise in the specialty through progressively responsible positions directly related to the specialty.

Duration of H-1B

The H-1B visa is a non-immigrant visa that allows business professionals to work in the United States for a specific amount of time. The purpose of the H-1B visa is to give U.S. employers the opportunity to hire foreign professionals if a U.S. citizen or resident is not available. In order for the H-1B visa to be issued, both the employer and employee must satisfy the specific requirements mentioned above.

The H-1B visa is initially granted for up to three years, but may then be extended to a maximum of six years. Even though the H-1B visa is a non-immigrant visa, it is one of the few US visa categories recognized as dual intent, meaning the H-1B visa holder can apply for and obtain a US Green Card while in the US on an H-1B visa.

If you are still in the US on an H-1B visa and wish to remain in the US for more than six years, you can apply for permanent residency in the US to receive a Green Card. If you do not gain permanent residency prior to the expiration of your H-1B visa, then you must live outside the US for at least one year before reapplying for another H or L visa.

Final Words

The H-1B program is criticized from different perspectives. The wages are kept lower in certain H-1B related industries as foreigners will accept a lower wage for the opportunity to work in the United States. Foreigners cannot easily change job in comparison to a U.S. citizen or resident, which makes an H-1B worker attractive for many employers. Several universities offering higher IT degrees are criticized for bringing in many foreign nationals for the purpose of educating them to H-1B jobs thus discouraging citizens and residents from choosing such degree programs.

List of Companies That Sponsored H-1B Visa’s In The Past

H-1B Company Sponsorship list

Official U.S. Government Information

http://www.uscis.gov/working-united-states/temporary-workers/h-1b-specialty-occupations-and-fashion-models/h-1b-specialty-occupations-dod-cooperative-research-and-development-project-workers-and-fashion-models

 

Finance Resume Template for College Students

Resume

By the good graces of the people behind WallStreetOasis.com confused college students out there has been offered this great finance resume template!

For those of you looking to make sure your CV format is clean and make sure that your finance resume is polished, this is a great sample resume you can now use.). We all know how competitive internship applications and summer analyst positions are nowadays, so I’m hoping this gives you an even bigger edge in recruiting.

The template can be found here:

WSO_Undergrad_Resume_Templatev6-11pt font (2)

Summer Internship Interviews – An Interviewers Perspective

Hey readers, check out this amazing post for some advice on how to successfully interview for summer internships in the financial services industry. In the article a recruiter offers advice on how to nail the interview and what not to do.

Check out ther article here:

http://www.wallstreetoasis.com/forums/sa-interviews-%E2%80%93-an-interviewer%E2%80%99s-perspective

International Students – How to shine in internship interviews!

new globe

My Background

In the fall of 2011 I decided to attend College in the U.S., and leaving my Scandinavian country. I began my college career at a City College in the U.S. with no idea of what I wanted to do in the future, but that I wanted to major in Economics. Through research, and countless hours spent reading WallStreetOasis, I soon figured out that I wanted to work in the financial services industry in New York. With this realization came the added anxiety of realizing the amount of work and perseverance that the goal would require.

In the interest of keeping this part short, I’ll try to sum my initial experiences up. I spent two years at my Community College, got a high GPA, involved myself in relevant extra-curricular activities on campus, and stocked up on Economics, Accounting, Finance, and Business classes.

I eventually transferred to an “Ivy League” school as an Economics major in the fall of 2013 and I’m now attempting to break into the Finance industry. I managed to get an unpaid internship at a capital placement and advisory firm in NY, and I’m now trying to rack up some relevant internship experiences before I graduate.

How to benefit from an international background

Through this article I intend to focus on how to efficiently utilize your background while interviewing for internships, by displaying a certain element that I believe is highly valued by recruiters.

While interviewing for summer/semester internships, two questions frequently appeared in all my interviews, more specifically, “Tell me about yourself” and “Tell me about a time when you had to take a risk”. These questions might appear informal and trivial at first, yet this provides you with the opportunity to “hook” your interviewer and display that you are a person that possesses the specific characteristics they are looking for.

As an International Student you have something to offer that sets you apart from your competition; the story of how you decided to leave your comfort zone and brave the unknown by moving to another country. In answering this question, I suggest that you attempt to highlight what I like to call “Thoughtful Risk-Taking”

Thoughtful Risk-Taking

By “Thoughtful Risk-Taking” I refer to how you weighed the pros and cons of attending College in the U.S. You want to highlight that you considered the risks and benefits you run by leaving your country, a trait which recruiters has actually praised in my past interviews.

For example, the risks might include that you could have a hard time developing a social network, encounter cultural differences, not liking life in the U.S., and running the risk of feeling alienated. However, you need to clearly articulate that you believe that the benefits outweighed the perceived risks.

Some possible benefits you can name are the possibility of meeting new and interesting people, acquiring a quality education, grow as a person by forcing yourself to face an unfamiliar situation, and having the opportunity to work in the U.S.

By clearly demonstrating your ability to practice “Thoughtful Risk-Taking” you are implicitly suggesting that you have a highly developed sense of “Critical Thinking”, something that appears to be key in most finance careers in my view.

It suggests that you evaluated your decision to:

  1. Study in the U.S
  2. Attend your current school
  3. Choose your particular major
  4. Seek a career in the financial services industry
  5. Apply for an internship at this specific company

Most importantly, by displaying that you practice “Thoughtful Risk-Taking”, you show the recruiter that you are committed to your choices despite the perceived risks. It tells him or her that you dont make decision based on a whim but rather that you carefully analyze your choices.

I genuinely believe that displaying this trait greatly benefited me while interviewing, and that it was one of the underlying principles that granted me my current internship.

My Blog

Through this blog, I intend to create a series of posts aimed at giving advice to International Students who share my interest in finance. I’ll give my view on how to benefit from an International background in recruiting/interviewing and tips on how I have been able to succeed despite starting out without any connections in the U.S., coming from a City College, and having no relevant finance experience.

Although this blog will be focused on international students in the U.S., the content may very well benefit those studying outside of the U.S.