$100K H-1B Fee Sparks Wall Street Moves Finance Jobs to India

Quick Answer

A November 11 2025 Bloomberg investigation revealed that JPMorgan Chase & Co., Goldman Sachs, and other major U.S. banks are accelerating finance-specialist hiring in Bengaluru, Mumbai, and Hyderabad after the Trump-Vance administration’s new $100,000 H-1B employer fee took effect.
Facing soaring costs, audits, and visa denials, Wall Street firms are offshoring quant, AI-finance, and compliance jobs — triggering a “reverse brain drain” that benefits India’s financial hubs.

I. Introduction — A Visa Fee that Shook Wall Street

On November 11 2025, Bloomberg reported: “Wall Street to speed up India hiring on Trump’s H-1B visa curbs.”

A White House spokeswoman told the outlet:

“The fact that these banks are moving their operations to markets where labor is cheaper now that they cannot abuse the H-1B system is evidence that they were using foreign workers to undercut Americans’ wages.”

The new $100,000 supplemental employer fee, part of Project 2025’s “America First Talent Reset,” is pushing U.S. financial firms to transfer roles abroad rather than pay the cost or risk denial. This fee acts as a significant tariff on the importation of labor, further incentivizing firms to explore offshore alternatives.

II. Fast Facts

H-1B employer fee: Raised to $100,000 for new petitions filed under Trump’s 2025 proclamation (Associated Press)
Wall Street response: Banks boosting India hiring to avoid visa bottlenecks (Bloomberg)
Business Today (11 Nov 2025): “Global investment banks are shifting thousands of high-skill finance and tech roles from the U.S. to India’s financial hubs.” (Business Today)
India’s share: Roughly 70–75 percent of all H-1B beneficiaries, reflecting the program’s dominance by Indian professionals (Financial Express)
LiveMint (12 Nov 2025): “Wall Street ramps up India hirings as Trump’s crackdown drives shift to GCCs.” (LiveMint)
GCC industry growth: Global Capability Centres have evolved into a $64 billion industry, with expected growth projected to reach $110 billion by 2030.

III. Deep Dive — Wall Street’s Offshore Exodus

A. Why the Fee Matters

The $100K charge adds major overhead for each new visa hire. Combined with spikes in RFEs (Requests for Evidence) and NOIDs (Notices of Intent to Deny), firms are re-evaluating U.S. hiring economics. Previously, the cost of hiring international talent ranged from $2,000 to $5,000, making the new fee a significant increase. Additionally, the demand for H-1B visas exceeds the annual cap set by Congress, further exacerbating competition among applicants.

Recruiter Ben Hodzic told LiveMint:

“With the new fee, they’re starting to question if that job is a priority for them.”

B. Moving the Role, Not the Worker

JPMorgan Chase now hires covenant-breach analysts in Bengaluru, where its workforce accounts for nearly one-fifth of its global headcount.
Goldman Sachs adds loan-review associates in Mumbai.
KKR & Co. expands portfolio-monitoring teams in Hyderabad.
(Financial Express)

C. Reverse Brain Drain

U.S.-trained quants and engineers denied visas are joining Indian teams — a mirror image of the 1990s talent boom, but in reverse. For India, the H-1B became a vehicle of aspiration, helping small-town coders turn into dollar earners, a trend now shifting back to domestic opportunities. The H-1B program has powered the American dream for many Indians, facilitating middle-class status.

IV. Project 2025 and J.D. Vance’s War on Legal Immigration

Project 2025 Blueprint: Calls for reducing corporate reliance on temporary foreign labor (Heritage Foundation)
Vance’s Position: > “We don’t owe Silicon Valley cheap foreign labor when Americans need those jobs.” (Forbes)
Trump’s Contradiction: He praises “the best and brightest” while enforcing barriers that price them out — explored in The H-1B Contradiction – Trump’s Praise vs. Policy Reality.

V. Economic Ripple Effect — From New York to Bengaluru

A. Workforce Migration

Finance jobs in AI, risk and quant analysis are being relocated abroad.
Times of India notes: > “Banks would be calibrating a new strategy … there will be on-shoring of jobs to India adding new functions.” (Times of India)
The fee encourages U.S. firms to rely more heavily on their Global Capability Centers (GCCs) in India, which are increasingly handling critical operations. Wall Street firms are prioritizing filling tech and junior banker roles through Indian GCCs as a direct response to the H-1B visa fee increase.

B. India’s Finance Hubs Surge

Business Today confirms expansion of mission-critical AI-finance roles in Bengaluru, Mumbai, and Hyderabad.
LiveMint adds that these are “front-end analytics and quant operations,” not just support roles.

C. U.S. Innovation Risk

A Reuters interview warned: > “If the U.S. ceases to attract the world’s smartest talent, it drastically reduces its ability to innovate.” (Reuters)

VI. Legal and Compliance Pressure on Employers

Firms must now balance:

$100K filing fee per petition
Audit and site visit risk
Longer processing times and denials

Guides for navigating these pressures:

Herman Legal Group — H-1B Resource Directory (Verified)

$100K H-1B Fee: Rules, Exemptions, Strategy

H-1B Lottery: Modernization, Prep, Odds

RFEs, NOIDs & Denials: Playbooks

Audits, Site Visits, I-9 Readiness

Special Topics

VII. Proposed Changes to the H-1B Lottery — and Why They’re Controversial

What’s Changing

The Department of Homeland Security proposes a weighted lottery system favoring higher wage levels over random selection (Ballard Spahr).
Employers must assign each H-1B petition an Occupational Wage Level (I–IV) based on the Department of Labor’s OEWS system (Hunton Andrews Kurth)

Challenges & Risks

Sector Disparities: Healthcare and education employers typically file at lower wage levels, reducing their odds (American Hospital Association)
Gaming Incentives: Pressure to inflate wage levels to gain entries (Mayer Brown)
Implementation Uncertainty: Employers face complex classification rules and risk of audit if codes are misapplied.
Small Business Disadvantage: Start-ups and non-profits may struggle to compete on wages.
Equity Concerns: Critics argue weighted selection could unfairly favor urban or big-tech employers.
Innovation Impact: The Federal Reserve Bank of Richmond warns that weighted lottery and higher fees could “shrink college-educated immigrant flows and increase offshoring.” (Richmond Fed)

What Employers and Applicants Should Do

Verify SOC codes and wage levels before registration.
Anticipate need for stronger documentation of duties and compensation.
Work closely with immigration counsel to avoid disqualification under new rules.
Monitor the final rule timeline — it may take effect in FY 2027.

VIII. Human Impact

A U.S.-educated quant from MIT lost a Wall Street offer after the fee and lottery changes introduced uncertainty; he now leads a fintech team in Bengaluru. His story is shared by many foreign graduates trained in the U.S. but pushed out by policy risk. Indian tech talent may remain in India, fueling domestic startups and tech companies due to higher costs to relocate.

IX. Ohio & National Law Firm Comparison

Herman Legal Group (HLG) — 30 years of immigration-law practice, based in Cleveland with offices in Columbus, Cincinnati, Akron, Dayton, and Youngstown — offers:

Personalized strategy for H-1B employers and workers
Audit defense and litigation experience
Multilingual staff for global clients

HLG stands apart from large national firms by providing localized access and court representation. Book a consultation with Richard T. Herman.

X. Future Outlook

Employers may lobby for rollback of the fee and lottery changes, but offshoring momentum is strong.
Economic Times (India) reports: > “India Inc. is rethinking U.S. talent strategy after Trump’s hefty price tag on fresh H-1B visas.” (Economic Times)
Without policy balance, America risks ceding its innovation edge to India and other nations.

XI. FAQ Highlights: The New H-1B Reality

Q1. Why are Wall Street firms suddenly expanding in India instead of the U.S.?

Because the $100K H-1B employer fee and heightened scrutiny under Trump’s Project 2025 make U.S. hiring financially risky.
Major banks such as JPMorgan Chase, Goldman Sachs, and Citi are moving data, analytics, and quant finance jobs offshore.
As Bloomberg reported on November 11 2025, “Wall Street to speed up India hiring on Trump’s H-1B visa curbs,” noting that top-tier banks are now adding new India-based finance specialists.
This shift reflects a cost, risk, and predictability equation: employers find more stability abroad.

Q2. What does the $100K H-1B fee actually cover?

It is a supplemental employer fee added on top of existing filing and fraud-prevention costs — effectively raising total filing expenses to over $110,000 per petition.
According to the Associated Press, this policy was intended to “restore fairness” to American workers, but economists warn it may discourage global talent inflows and worsen labor shortages in key sectors.
See H-1B $100K Fee Explained for Herman Legal Group’s detailed breakdown of who pays, what’s covered, and how to plan filings strategically.

Q3. How is Project 2025 connected to this policy?

Project 2025 is a Heritage Foundation blueprint proposing deep immigration restrictions, including ending “corporate dependence” on foreign talent and phasing out student and temporary work programs.
The $100K fee and proposed weighted lottery are early steps aligned with this agenda.
For more on its long-term implications, see The H-1B Contradiction – Trump’s Praise vs. Policy Reality.

Q4. What are the proposed changes to the H-1B lottery, and why are they controversial?

The Department of Homeland Security proposes switching to a weighted lottery system that favors higher wage levels (III–IV) and de-prioritizes entry-level jobs (I–II).
While the stated goal is to “reward skill,” critics warn it creates systemic bias against sectors like education, healthcare, and nonprofits, which operate at lower pay bands.
The American Hospital Association told DHS that 78 percent of healthcare H-1Bs would lose lottery odds under this system.
Legal experts at Mayer Brown and Ballard Spahr also warn employers may be tempted to “inflate” wage classifications, risking audits and denials.
For in-depth analysis, see H-1B Modernization 2025 Overview.

Q5. How will this affect students and recent graduates on OPT or STEM OPT?

Graduates relying on the H-1B transition may face lower lottery odds if their entry-level wage levels fall into Tier I or II.
This discourages U.S. study-to-work pathways and could push talented graduates to pursue careers in Canada, India, or Singapore.
Education analysts quoted by Reuters warn this trend could “diminish America’s innovation advantage.”

Q6. Are smaller U.S. employers at a disadvantage?

Yes. Start-ups, universities, and rural hospitals that can’t offer high-wage levels will have fewer chances in the weighted lottery and may find the $100K fee unsustainable.
Larger corporations, especially in finance or tech, can absorb the cost more easily — further concentrating H-1B access among mega-employers.
Herman Legal Group helps small and mid-size companies develop compliance-driven, cost-efficient alternatives, such as L-1, O-1, or remote global employment strategies.

Q7. How do these policy shifts affect current H-1B holders?

Current visa holders aren’t directly subject to the new $100K fee but may face:

Delays in extension approvals due to heightened scrutiny.
More RFEs questioning job classification and wage validity.
Complications in changing employers or filing amendments.
HLG’s H-1B RFE & NOID Guide outlines how to respond quickly and successfully.

Q8. Could this lead to long-term economic consequences in the U.S.?

Yes.
The Council on Foreign Relations and Brookings Institution warn that restrictive visa policies drive away global STEM talent, slowing innovation and GDP growth.
According to a Federal Reserve Bank of Richmond report, the combined impact of the $100K fee and weighted lottery could “reduce the number of college-educated immigrants and increase offshoring of U.S. operations.”

Q9. How are India’s financial hubs benefiting?

Bengaluru, Mumbai, and Hyderabad have become the new centers of Wall Street offshoring.
Business Today and LiveMint report that these hubs now host high-end quant and AI-finance roles — “not just back-office work, but decision-critical analysis for global markets.”
This is the first time in decades that Wall Street’s most skilled roles are being built outside the U.S.

Q10. What can employers do right now?

Re-evaluate global hiring mix: Assess which roles can remain U.S.-based under higher cost structures.
Budget early for $100K fee exposure.
Review wage classifications: Avoid misaligned SOC codes that trigger RFEs.
Consult experienced counsel — especially if hiring STEM or finance professionals.
See H-1B Employer Compliance Checklist for step-by-step guidance.

Q11. What should employees and international students do?

File early, ensure employer sponsorship is confirmed, and maintain valid status.
Monitor upcoming lottery reforms.
Consider alternative visas such as L-1A, O-1, or TN, depending on qualifications.
Maintain strong documentation for any change-of-status requests.
HLG can assist with backup visa planning and risk mitigation.

Q12. Could policy change again after industry pushback?

Possibly.
Both industry groups and lawmakers are pressuring DHS to revise or delay enforcement.
However, until that happens, employers must treat these costs and lottery odds as the “new normal.”
Preparation and legal strategy are essential.

Q13. Why is Herman Legal Group uniquely suited to help?

Because Richard T. Herman, founder of Herman Legal Group, has spent over 30 years navigating complex immigration law for global corporations, hospitals, universities, and individual professionals.
His team helps clients:

Anticipate policy changes.
Defend against denials or audits.
Restructure hiring models to stay compliant while remaining globally competitive.

Q14. What’s the next step if I’m affected?

Don’t wait until the next filing season or lottery cycle.
Schedule a confidential consultation with Richard T. Herman to review your situation — whether you’re an employer facing compliance risk or a professional worried about your H-1B status.

👉 Book your consultation with Herman Legal Group here.
Early legal strategy can protect your career, your business, and your future in the U.S.

Success Stories

$100K H-1B Fee Sparks Wall Street Brain Drain: U.S. Finance Jobs Move to Mumbai and Bengaluru

Table of Contents

Quick Answer

I. Introduction — A Visa Fee that Shook Wall Street

II. Fast Facts