Banks to be affected by H-1B system overhaul

The Trump administration's overhaul of the H-IB system could have an outsized impact on the finance industry, which could face hiring challenges following the imposition of the new $100,000 fee. Financial firms are among the largest users of H-IB visas, employment-based visas awarded by an annual lottery, although their usage is dwarfed by tech companies, reported Reuters. In 2025, the 10 top US financial firms received about 12,000 H-IB visas, according to government data, with JPM the biggest by far with 2,440.

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One analyst said it will be harder for banks than for tech companies to bear the increased cost. “Banks may have the highest hurdle to overcome with the new H-IB visas, as many tech firms report record profitability, making them more insulated to this onetime cost,” said David Wagner, head of equities at Aptus Capital Advisors LLC, which owns stakes in major US banks.

A large number of the H-IB holders filled engineering and technology roles and are involved in essential activities for banking and the finance industry, according to commentary by Prospect Rock Partners, a financial search firm, which highlights investment banking as specifically impacted. These employees develop quantitative models, algorithmic trading, risk management and software, according to Prospect Rock. The $100,000 fee for new H-IB visas will effectively make hiring entry-level junior analysts or tech workers prohibitively expensive, said Meridith Dennes, managing partner at Prospect Rock Partners.